February 8, 2010
Bold Stock News Alert: FormCap Enters into Operations and Farm-in Agreement
Bold Stock Alert
The Latest News from… FormCap Corp!
FORMCAP CORP (OTC: FRMC)
FormCap Enters into Operations and Farm-in Agreement
RENO, Nev.–(BUSINESS WIRE)–FORMCAP CORP (FRMC.PK) is pleased to announce that it has entered into a Consulting and Option Agreement with Mr. Norman Mackenzie of Calgary, Alberta, Canada, to develop and execute the drilling and development plan for the Weber City Prospect. The Weber City Prospect consists of approximately 4,800 acres with room for 100+ well locations, strategically positioned 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.
Mr. Mackenzie has over thirty years experience in the domestic and international energy industry with companies that have developed significant energy projects in the North Sea (UK and Norway), China, Abu Dhabi, Dubai, Egypt, Bangladesh and Libya. In addition, he is Chairman and Founder of C & C Energy Canada Ltd., which is engaged in oil and gas exploration in Colombia, South America; these assets are currently capable of producing over 5,000 BOPD. Companies that Mr. Mackenzie has been associated with have been at the leading edge of technology in all sectors of the oil & gas business. In 1992, Scimitar Hydrocarbons, a public company founded by Mr. Mackenzie, was merged with Rally Energy Corp., which was subsequently sold for over $900 million in 2003. Mr. Mackenzie and his team will develop a strategic development plan that will include the scope of seismic surveys, the delineation of multiple drill targets and access to capital to assist in the ultimate exploitation of FormCap’s leases.
“Mr. Mackenzie and his team bring an extremely high level of expertise to FormCap’s exploration and development plan for Weber City Prospect. The fact that he negotiated for rights to financially participate in the development of this Prospect further supports our contention that it is a high quality opportunity” stated Graham Douglas, FormCap’s President
About FormCap Corp.:
FORMCAP is a reporting issuer with the shares traded on the “Pink Sheets”. FormCap holds 100% Working Interest (80% Net Revenue Interest) in the 4,900 acre Weber City Prospect located in Curry County, New Mexico. Formcap’s mandate is to seek out highly prospective oil and gas properties for acquisition, exploration and development. For more information see our website at www.formcapcorp.com or call (888) 777-8777.
Safe-Harbor Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
FORMCAP CORP (OTC: FRMC)
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Written by: John Pentony
