Tuesday, May 03, 2011 4:15:18 PM
Important couple of weeks for FRMC. Once we get more word on this PR, potential is huge. O/S 46m
FormCap Corp. Signs Farm-Out Agreement for Oil and Gas Exploration in Alberta
RENO, NV, Mar 29, 2011 (MARKETWIRE via COMTEX) -- FormCap Corp. (PINKSHEETS: FRMC), an emerging oil & gas exploration company, is pleased to announce that on March 16, 2011, the Company signed a Farm-Out Agreement for oil and gas exploration in the Peco Area of Alberta. The Farm-Out Agreement between FormCap Corp. and a private Alberta Corporation is comprised of a Seismic Option, a Farm-Out and a Participation clause, each of which contractually set out the terms that will underpin FormCap Corp.'s exploration obligations and working interest in the project. The Agreement stipulates a commencement date for the shooting of a 3D seismic program on the Farm-Out Lands not later than June 1, 2011. For more information on FormCap Corp., please see: www.formcapcorp.com
Mr. Graham Douglas, President and CEO, stated, "We are pleased to have signed this Farm-Out Agreement, which covers land in an area where a number of exploration successes have been made in the past. As stipulated by the Agreement, we plan to expeditiously execute an exploration program that will include a 3D seismic component. Looking forward, our goal is to build on this exploration strategy, FormCap Corp.'s first foray into Alberta."
FormCap Corp. Signs Farm-Out Agreement for Oil and Gas Exploration in Alberta
RENO, NV, Mar 29, 2011 (MARKETWIRE via COMTEX) -- FormCap Corp. (PINKSHEETS: FRMC), an emerging oil & gas exploration company, is pleased to announce that on March 16, 2011, the Company signed a Farm-Out Agreement for oil and gas exploration in the Peco Area of Alberta. The Farm-Out Agreement between FormCap Corp. and a private Alberta Corporation is comprised of a Seismic Option, a Farm-Out and a Participation clause, each of which contractually set out the terms that will underpin FormCap Corp.'s exploration obligations and working interest in the project. The Agreement stipulates a commencement date for the shooting of a 3D seismic program on the Farm-Out Lands not later than June 1, 2011. For more information on FormCap Corp., please see: www.formcapcorp.com
Mr. Graham Douglas, President and CEO, stated, "We are pleased to have signed this Farm-Out Agreement, which covers land in an area where a number of exploration successes have been made in the past. As stipulated by the Agreement, we plan to expeditiously execute an exploration program that will include a 3D seismic component. Looking forward, our goal is to build on this exploration strategy, FormCap Corp.'s first foray into Alberta."
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