Fellows Energy (fka FLWE)

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FLWE -- Fellows Energy Ltd. Com ($0.001)
Address:
370 Interlocken Boulevard
Suite 400
Broomfield, CO 80021
USA


Website: http://www.fellowsenergy.com
Phone: [phone]
Business Description: Not Available
State of Incorporation: NV
Officers:
George S. Young, Pres. & CEO
Outstanding Shares: 41,493,150 as of 2004-11-05
Estimated Market Cap: Not Available
Current Capital Change:
shs increased by 7 for 1 split
Ex-Date: 2003-11-18
Record Date: 2003-11-14
Pay Date: 2003-11-17
Dividends:
Company Notes:
Formerly=Fuel Centers, Inc. until 11-03
Class Notes:
Capital Change=shs increased by 2.09 for 1 split. Ex-date=06/25/2002. Rec date=06/21/2002. Pay date=06/24/2002.
Transfer Agent:
Pacific Stock Transfer Co., Las Vegas, NV 89193-3385
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The Overthrust CBNG Project is an unconventional resource play with 183,000 gross and 118,950 net acres targeting coal bed natural gas in southwestern Wyoming and northeastern Utah.
In March 2004, Fellows entered into an option agreement with Quaneco, L.L.C., an Oklahoma limited liability company (“Quaneco”), to acquire a 65% working interest in the Overthrust CBNG Project.The Overthrust CBNG Project is located in Rich and Summit Counties of northeastern Utah, and Uinta County, Wyoming. Quaneco has approximately 183,000 acres under lease in the project area. Just east of the project area is over 6 TCF of gas production from the conventional “Overthrust” oil and gas play, so pipeline infrastructure and gas markets are well established in the area.
Based upon regional geologic studies of historical oil and gas and coal mining activity, plus the results from seven exploratory wells previously drilled by Quaneco, the Overthrust CBNG play has multiple coal seams of Tertiary and Cretaceous age that may contain coal bed methane. Some of this coal is of similar age and depositional condition to other productive coal bed methane fields such as the Drunkard’s Wash field in eastern Utah which has estimated reserves of 2 TCF.
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Weston County Project, Wyoming




The Weston County play will focus initially on the development of a conventional oil field followed by exploration for conventional oil reservoirs in the Dakota and Minnelusa on 19,290 gross and net acres.The development of the South Coyote Creek Field is anticipated to provide short-term cash flow to cover Company overhead.
In January 2004, Fellows acquired an option to purchase a 100% working interest in 19,290 acres of oil and gas rights in Weston County, Wyoming.Fellows closed that purchase on June 15, 2004, and concluded a reevaluation of drilling production data and seismic surveys.This resulted in the delineation of 18 conventional oil and gas well locations on the property which are ready to drill that are potential extensions of an existing producing field called South Coyote Creek Field.South Coyote Creek Field was discovered and developed back in the 1960s and has produced approximately 3 million barrels of oil to date.It is estimated that the Field mayultimately have reserve potential of up to 5-10 million barrels.
The Weston County Play has two deeper horizons at drilling depths of 5,000 to 7,500 feet.that add enormous oil and gas reserve potential to the acreage position that Fellows has.The Cretaceous Dakota and Permo-Penn Minnelusa are both highly productive sandstone reservoirs when found in trapping positions and have accounted for hundreds of millions of barrels of production in the Powder River Basin.Some of the largest Dakota and Minnelusa fields are located within 10 miles of the Fellows acreage including the 75 million barrel Raven Creek and 25 million barrel Donkey Creek.
The Dakota and Minnelusa are also both amenable to seismic exploration and can be resolved clearly with 3-D seismic.Fellows has access to 200 miles of a regional 2-D seismic data base that covers the Weston County play area.On the basis of this seismic, a series of prospects in the Dakota and Minnelusa have been identified with the potential for up to 50 million barrels of oil reserves.One of these prospects is a Minnelusa field with only one producer drilled to date that appears to be on the edge of a much larger accumulation.Fellows will be working to develop a plan for the further delineation of these prospects with a plan to drill one or more exploratory tests in 2005.
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Carter Creek Project, Wyoming
The Carter Creek Project targets an unconventional resource play for oil on 10,678 gross and net acres from fractured shales in the Niobrara and Mowry.
In January 2004, Fellows acquired a 100% working interest of 10,678 acres known as the Carter Creek Project in the southern Powder River Basin of Wyoming.This project was originally generated by Thomasson Partner Associates (“TPA”).
The Carter Creek Project offers large scale reserve potential from a section of over-pressured Lower Cretaceous zones including the Niobrara, Turner (Frontier), Mowry,
Muddy, and the normally pressured Dakota formations.All these zones are currently productive in the region of the Carter Creek Project.Drilling depths to the Dakota range from 10,000feet to 11,500feet.The primary objectives in the Carter Creek Project are the Niobrara and Mowry formations which are both thick hydrocarbon-rich shale units.These shale units are referred to as “source beds” because under sufficient heat and pressure they are the source of petroleum that feeds the conventional oil and gas traps in a given basin.In this case, the source beds also act as oil reservoirs due to fracturing that has been induced along shear zones created by regional tectonic forces.Within these shear zones are fractures which provide both storage of oil and gas, as well as the permeability necessary for them to flow to a well bore.The shear zones also provide a pathway for thermal energy from deeper in the basin to flow into a local area and promote oil generation and maturation, thus improving the hydrocarbon recovery potential within the shear zone.Over pressuring is caused by hydrocarbon generation within the source beds which also contributes to the fracture system.
Within the general vicinity of the Carter Creek Project there are 21 Niobrara producers that have had a combined cumulative production of 629,777 BO and 1.2 BCF.These wells were drilled as vertical producers without the benefit of modern exploration concepts, and drilling and completion technology.The best of these wells was the Dunlop well in Section 26, T44N-R71W, which produced 205,965 BO and 519,935 Mcf of gas through May of 2004 from a vertical well that was lightly acidized.This is clearly an excellent result that, if it could be repeated consistently, would provide a basis for a highly economic oil play.
Astudy of the Carter Creek Project area indicates that results similar to or better than the Dunlop well maybe achieved through the use of high-resolution seismic to identify shear and fracture trends combined with horizontal drilling technology to maximize exposure to productive fracture zones within the Niobrara and Mowry.The use of these exploration and drilling techniques could result in wells with average recoveries of 400,000 barrels of oil equivalent or “BOE” (i.e. including gas at a 6 MCF to 1 BO ratio).The size of the play could range from 10 to 100 wells with reserves of 4 to 40 million barrels.
Secondary objectives in the play below the Niobrara include the Turner and Muddy zones within the over-pressured Cretaceous envelope, as well as the normally pressured zones including the deeper Dakota formation.In addition, there are shallower secondary objectives including theShannon, Teapot, Parkman and Teckla zones above the Niobrara.These reservoirscould provide significant reserve additions to the Niobrara and Mowry and will be evaluated in each initial well drilled.
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Gordon Creek Project, Utah
The Gordon Creek Project targets an unconventional resource play on 5,242 gross and net acres for gas from tight sands in the Ferron formation, plus coal bed natural gas from coals in the Emery formation.
In January 2004, Fellows acquired an option to purchase 5,242 acres known as the Gordon Creek Project. The Gordon Creek Project is located in Carbon County, eastern Utah.
The Gordon Creek Project targets natural gas reserves in two large resource plays:the Cretaceous Ferron sandstone play and the Cretaceous Emery coal bed natural gas play.The Cretaceous Ferron sandstone play is established by the Clear Creek Field which has had cumulative production of 137 BCF from 16 wells or an average of 8.6 BCF per well to date.The Clear Creek Field is located 7 miles to the west of the Fellows acreage.
During 2003 Klabzuba Oil & Gas reentered a series of six wells previously drilled into the 100 foot thick Ferron sandstone at Gordon Creek Field and completed them for production.Gordon Creek Field is located 3 miles south of Fellows’ acreage.The six recompleted wells have produced 1.7 BCF in one year of production according to state records.These early indications of production confirm a potentially large play which may someday have reserves in excess of 2 trillion cubic feet of gas.
In addition to the Ferron sandstone, the Gordon Creek project has potential in the Emery coal.While the Emery coal play is in an early stage it may have similar potential to the Drunkard’s Wash field which produces from the Ferron coal.The Drunkard’s Wash Field is located 6 miles to the southeast of Fellows’ Gordon Creek land holdings.Fellows’ project personnel were previously involved in drilling for River Gas Corporation in the Drunkard’s Wash field. The Ferron coal bed play trend has estimated reserves of two trillion cubic feet, and the play may eventually have twice that level of reserves as coals along trend are developed.The Emery coal trend is essentially parallel and to the west of the Ferron trend and represents a later episode of deposition when the Cretaceous sea level was higher.
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Rehabilitating Nonproductive Wells— A specialty of the Fellows Energy team.




Conventional natural gas tends to form large trapped bubbles underground, which means these wells flow gas easily once the well taps the bubble.
Coalbed methane gas is very different. It is trapped within the coal seam under the intense hydraulic pressure of the underground water. A typical coalbed methane site will not give up its gas simply by drilling a hole in the ground. The water has to be removed, thus lowering hydrostatic pressure surrounding the wellsite and allowing the methane to gasify. Only then can gas flow to the surface through the well’s methane recovery line.
Reducing hydrostatic pressure to gasify the methane is the same principle that causes water to boil at a lower temperature in the mountains than at sea level. Lowering the pressure releases the gas. Thus, reducing the pressure in the coalbed methane well is necessary for gas flow and is unique with coalbed methane.
Source: USGS Fact Sheet FS–158–02
However, the wellsite manager must be prudent about the rate at which water is removed. Pumping out too much water will quickly deplete the gas volume in the immediate vicinity of the well shaft. This effectively seals the shaft from further gas production by preventing adjacent gas from migrating to the tap site.
In the estimation of our management, many unproductive wellsites fail to achieve their most productive gas flows because the water flow removal rates are not properly optimized for gas recovery. Our management believes that skill and experience are the only remedies for this, and that the Fellows Energy team possesses both.
Of course, many other factors can affect the performance and profitability of a wellsite. This example simply highlights the importance of coalbed experience versus conventional natural gas experience. We believe that it is why many natural gas companies are routinely frustrated by their coalbed sites.Prior to joining us, Fellows Energy personnel have had a long history of successfully bringing failed and new wells into profitable production. We believe that we have assembled a team with a successful record.
For more information about the technical challenges involved in rehabilitating existing wells, please contact Fellows Energy through this website’s Contact page.
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Form 10KSB for FELLOWS ENERGY LTD
http://biz.yahoo.com/e/050331/flwe.ob10ksb.html
-------------------------------------------
INSIDER & RULE 144 TRANSACTIONS REPORTED - LAST TWO YEARS
DateInsiderSharesTransactionValue*3-Jan-05GIBRALT CAPITAL CORP
250,000Planned Sale$227,02516-Jan-04PRINCE, STEVEN L.
Vice PresidentN/AStatement of OwnershipN/A6-Jan-04YOUNG, GEORGE S.
President3,500,000Statement of OwnershipN/A6-Jan-04YOUNG, GEORGE S.
PresidentN/AStatement of OwnershipN/A5-Jan-04SHUKUR, K JOHN
Former Director730,000Disposition (Non Open Market) at $0.0014 per share.$1,0225-Jan-04MUELLERLEILE, JOHN R.
Former Director51,880,000Disposition (Non Open Market) at $0.0005 per share.
TOP INSIDER & RULE 144 HOLDERS
HolderSharesReportedYOUNG, GEORGE S.3,500,0006-Jan-04MUELLERLEILE, JOHN R.56,5005-Jan-04SHUKUR, K JOHN1,5005-Jan-04
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Wed, Apr 13, 2005Fellows Energy Ltd. Receives Funding to Commence Activities on Bacaroo Project and Data Showing Favorable Gas Content from Overthrust Project Coring Analyses http://biz.yahoo.com/bw/050413/135355.html?.v=1


Business Wire (Wed, Apr 13) Thu, Mar 31, 2005FELLOWS ENERGY LTD Files SEC form 10KSB, Annual Report http://biz.yahoo.com/e/050331/flwe.ob10ksb.html
EDGAR Online (Thu, Mar 31) Fri, Mar 4, 2005Fellows Energy Ltd. Enters Into Agreement to Acquire Interests in the Kirby and Castle Rock Coal Bed Methane Projects Covering 235,000 Acres in the Powder River Basin http://biz.yahoo.com/bw/050304/45254_1.html
Business Wire (Fri, Mar 4) Fri, Feb 25, 2005Fellows Energy Ltd. Enters into Agreement to Sell Oil and Gas Leases for $1.98 Millionhttp://biz.yahoo.com/bw/050225/255249_1.html
Business Wire (Fri, Feb 25) Mon, Nov 15, 2004FELLOWS ENERGY LTD Files SEC form 10QSB, Quarterly Report http://biz.yahoo.com/e/041115/flwe.ob10qsb.html
EDGAR Online (Mon, Nov 15) Wed, Sep 15, 2004FELLOWS ENERGY LTD Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibitshttp://biz.yahoo.com/e/040915/flwe.ob8-k.html
EDGAR Online (Wed, Sep 15) Mon, Aug 16, 2004FELLOWS ENERGY LTD Files SEC form 10QSB, Quarterly Report http://biz.yahoo.com/e/040816/flwe.ob10qsb.html
EDGAR Online (Mon, Aug 16) Mon, Jun 21, 2004Fellows Energy Ltd. Provides Update on Recent Financing and Exploration Activitieshttp://biz.yahoo.com/pz/040621/59502.html
PrimeZone Media Network (Mon, Jun 21) Thu, Jun 17, 2004FELLOWS ENERGY LTD Files SEC form 8-K, Other Events and Financial Statements & Exhibits http://biz.yahoo.com/e/040617/flwe.ob8-k.html
EDGAR Online (Thu, Jun 17) Fellows Energy Ltd. Closes Financing http://biz.yahoo.com/pz/040617/59351.html
PrimeZone Media Network (Thu, Jun 17) Tue, May 25, 2004FELLOWS ENERGY LTD Files SEC form 10QSB, Quarterly Report http://biz.yahoo.com/e/040525/flwe.ob10qsb.html
EDGAR Online (Tue, May 25) Thu, Apr 29, 2004FELLOWS ENERGY LTD Files SEC form 10KSB/A, Annual Report http://biz.yahoo.com/e/040429/flwe.ob10ksb_a.html
EDGAR Online (Thu, Apr 29) Fri, Apr 2, 2004FELLOWS ENERGY LTD Files SEC form 10KSB, Annual Report http://biz.yahoo.com/e/040402/flwe.ob10ksb.html
EDGAR Online (Fri, Apr 2)
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Income Statement - http://finance.yahoo.com/q/is?s=FLWE.OB&annual
http://finance.yahoo.com/q/bs?s=FLWE.OB&annual
Balance Sheet - http://finance.yahoo.com/q/bs?s=FLWE.OB&annual
Cash Flow http://finance.yahoo.com/q/cf?s=FLWE.OB&annual

Projections
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Price Support Pivot Point Resistance 0.6000 0.5000 0.6100 0.7200

50 - 100 Day MACD OscillatorBuy

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