Henderson, Nevada, July 14, 2011 - Fortune Oil and Gas, Inc. (FOGC; http://www.fortuneoilandgascorp.com) and its subsidiary Alta Mining are entertaining final stages of negotiation process where amongst other things this could result in the enhancement of the company’s presence in the region.
The negotiations are driven by the latest compilation report based on the previous exploration work and significant geological potential contoured by geologists who had worked on the property in the past.
Alta Mining is in the process of building a sizable inventory of base metal resources and is on an aggressive hunt to add an additional mineral property into its portfolio. The company is seeking to expand the size of its presence across a relatively under-explored territory proximate to its current positions.
Upon conclusion of the negotiation process, Alta intent is to determine future exploration plans and start with property development focused predominantly on the quick and accurate exploration techniques that will further reveal property’s mining potential.
This business dynamic should allow the company to increase the value of its natural resource potential, integrate itself effectively into the global mining market and keep FOGC as a favorable competitive investment opportunity for its current and future shareholders. More details will follow shortly from the company. Additionally significant other updates from FOGC other operating subsidiary Creseent Energy http://fortuneoilandgascorp.com/cressent/ will follow shortly.
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