FNRC tiniest float in america NEWS is out !!! Rumors are confirmed Well there is is folks. Once again my field sources have proven their worth. The news report on the Utica Shale deal is IMHO a huge deal for a little start up company in Denver. The size of this acreage block is very impressive condsidering that lots of very large independents do not have anywhere near this size of the play under their control.
Now FNRC just needs to drill a well and find a JV partner with some horizontal expertise and most important get some stock in the float for liquidity stabilization. The location of this deal according to my sources is between the recently completed PDC Palmer 20-44 well in Center twp and the Brett Hayes 317V well in southern Athens county that had log and core samples indicating values two to three times better than the current ODNR maps out on proposed Utica shale characteristics. The company should also have several shallower formations that produce in that area that would serve as future uphole completions when the shale depletes and needs to be plugged back.
Folks this is HUGE for this tiny company and now lets see how they play their cards going forward.
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