FEGR-Looks like a up and coming play:
The Company's business plan is to acquire leases in established, low risk oil and gas fields that have been poorly operated or shut in, which can be put back into production. The Company also plans to find highly prospective development leases that it will joint venture to minimize risk and add to its reserve base quickly. The Company is on target to produce over 300 barrels of oil per day in this fiscal year.
Why Invest In Friendly Energy Corp:
Friendly Energy is starting production from its 2,036 acres in Central Texas under 5 leases.
The Company has Operator Status in State of Texas and has secured its own service rig which will allow the company to manage its costs more effectively and respond to market opportunities.
The Company will be putting into operation 44 wells with expected production of over 200 barrels a day by May, 2010.
The expected cash flow from these wells will allow the company to accelerate its growth by in fill drilling on its leases.
The Company will acquire its own drilling rig by May 2010
Recently acquired 50% interest in South Thrifty Field, which:
Has been a prolific producer and has historical production of over 1.8 million barrels of oil and 4.1 billion Cubic Feet of Gas.
Currently has 24 production wells and capacity for additional infill wells and two tank farms
South Thrifty could have a minimum of 2 million and up to 7 million barrels of recoverable oil.
South Thrifty is a very good candidate for enhanced oil recovery by conducting a water flood.
The Company is presently negotiating to acquire additional leases to add to its land base and recoverable reserves.
Friendly Energy is a full reporting company trading on the OTCBB.
Friendly Energy's new website. www.fegr.biz
