FOFU doing hot up 50% and news
COSTA MESA, Calif., July 5, 2011 /PRNewswire/ -- Force Fuels Inc (OTC-BB:FOFU.ob - News) -- The Company announces the signing of an engagement Letter with Carroll Energy to prepare the preliminary Geological reports needed to drill 15 new wells on the properties Force Fuels acquired.
This program will require reserve analysis, geological evaluations, reservoir mapping, historical production analysis, and log interpretations. These services will include well completion, work over services, roustabout services, and general field construction services.
As for our schedule we are currently recompleting some of our existing wells and plan to move shortly thereafter into the drilling of new wells. Next week we will set a meeting and layout the preliminary drilling plan.
"This is the first step in proceeding with the drilling of the 15 new wells we scheduled this year and starting production from brand new sources. We expect initial production rates from the 15 wells to produce a combined total of approximately 150 Barrels Per Day (BPD) totaling 4500 barrels per month in addition to the production from the recently opened previously shut-in wells. By the end of this year Force Fuels will be in route to substantial monthly production," said Tom Hemingway, President and CEO.
Carroll Energy, LLC , Independence, KS, is a family-owned company with over 30 years of experience in the oil and gas industry. Terry Carroll Sr. has supervised and provided daily management and operations for numerous oil and gas companies, partnerships and private investors involved in the drilling and completing of thousands of wells, constructing, operating, and maintaining hundreds of miles of natural gas gathering pipeline, compression and dehydration facilities, cumulatively producing more than 15 BCF of gas and 750,000 BBLs of oil.
Force Fuels properties are in Chautauqua and Montgomery County on the southern end of Kansas, well-known oil and gas producing area where several prolific reservoirs are present. Comprising over 2,600 acres, the properties are fully equipped with 54 wells and all the necessary equipment to commence production. In addition Force Fuels is aimed at increasing oil production on the Joint Venture signed in March 2011 on 1200 acres of Pioneer Oil's Oklahoma properties.
About Force Fuels, Inc.
Force Fuels, Inc's primary products of the company are regulated and standardized energy based products, which do not require a marketing or sales force, thus completely eliminating the related expenses. These energy based products include oil, natural gas, solar, wind and hydrogen. In the oil and gas field the company plans to focus on the purchase of marginally producing shallow oil wells, which are relatively inexpensive to operate and can be optimized with existing technologies; the purchase of leases with potential for additional drilling in proven producing areas; and the acquisition of in-house know-how to further optimize production through stimulation, refurbishing and site optimization.
