1. FORMCAP CORP (FRMC.PK) is an emerging junior in the oil and gas sector. We have recently acquired strategically positioned acreage located in the Permian Basin, a prolific area that has produced over 35 billion barrels of oil and 100 trillion cubic feet of gas, and is host to over 20 percent of all domestic oil and gas produced in the US.
2. FormCap holds 100% Working Interest (80% Net Revenue Interest) in the 4,900 acre Weber City Prospect located in Curry County, New Mexico. These leases have been assigned and are duly recorded with initial 5 year terms.
3. The Company has completed its registration to conduct business in the State of New Mexico and is in the process of establishing itself as Operator. The Company plans to drill an initial 7,000 foot well to test four potentially productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and Cisco formations.
4. Approximately 100 wells (based on 40 acre spacing) could be drilled on the Prospect. It is estimated that these leases could contain over 220 million barrels of oil in a successful case.
Posted by: RandyKCMO Date: Thursday, January 07, 2010 5:15:51 PM In reply to: RandyKCMO who wrote msg# 829 Post # of 873
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