Archive for the ‘FormCap Corp. FRMC’ Category

FormCap Corp. (FRMC.PK) to Attain Bonded Operator Status in New Mexico

Thursday, March 4th, 2010

FormCap Corp. announced yesterday that it is establishing itself as a Bonded Operator in the State of New Mexico in anticipation of its first proposed well on the Weber City Prospect located in Curry County, New Mexico. The company holds 100% Working Interest in approximately 5,800 gross acres of oil & gas leases in the Permian Basin, all with primary terms of five (5) years. The Company’s operational partner, led by Calgary based Norman Mackenzie, has confirmed that the technical team is completing its deliberations and an initial well will be proposed soon.

The Weber City Prospect is 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, the Permian Basin’s development history and stable, long-life production is one of the main reasons FormCap has secured the Weber City Prospect acreage and continues to expand its holdings. FormCap plans to drill wells to test four potentially productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and Cisco formations. According to the company, over 125 wells (based on 40 acre spacing) could be drilled on the Prospect.

“As a Bonded Operator in New Mexico, FormCap will more fully control operations and production from our successful wells on the Weber City Prospect. This will minimize operational costs and maximize our profits over the long term,” stated Graham Douglas, FormCap’s President & CEO.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) to Raise $1 Million in Private Placement

Monday, March 1st, 2010

FormCap Corp. was pleased to announce today a Private Placement of up to 3.5 million units at $0.30 per unit for gross proceeds of $1,050,000. According to the terms, each unit will consist of one common share and one share purchase warrant.

Purchase warrants will entitle the holder to purchase one additional common share at $0.35 per share, but will expire two years after the date of issuance. Shares and warrants are subject to restrictions under Rule 144.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Announces Launch of Comprehensive Exploration Program

Friday, February 26th, 2010

Today after the closing bell, FormCap Corp. announced that its technical team is initiating a comprehensive and systematic strategy to explore for oil and gas at the company’s Weber City Prospect. The six member multi-disciplined technical team, assembled by FormCap’s Calgary based operational partner, will utilize the most advanced technology available to delineate drill targets, as well as to determine the size and scope of the initial seismic and geophysical program.

According to the press release, the members of this team have a combine experience of 150+ years in the oil and gas exploration and development industry. The team includes in-house professionals and technical consultants with the expertise necessary to complete any action for the prudent and timely exploration and development of FormCap’s Weber City Prospect.

As announced previously, FormCap has increased its land position in the Permian Basin prospect to approximately 5,800 gross acres of oil & gas leases, all with primary terms of five years. The Permian Basin is a prolific area that has produced more than 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.

The basin’s development history and stable, long-life production is one of the main reasons FormCap has secured the Weber City Prospect acreage and continues to increase its holdings. The company plans to drill initial wells to test four potentially productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and Cisco formations. Formcap believes it has sufficient land cover to fully develop discoveries on 40 acre spacing.

Graham Douglas, FormCap’s President and CEO, stated, “Mr. Mackenzie’s is committed to using highly experienced and technically capable professionals to develop the Weber City Prospect. It is our belief that this will maximize our probability for long term success and growth.”

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp.’s (FRMC.PK) Recent Consulting Agreement to Develop Weber City Prospect

Tuesday, February 23rd, 2010

FormCap Corp. recently announced that it had 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 company’s Weber City Prospect. The Weber City Prospect consists of approximately 5,800 acres, with room for over 120 well locations, that are strategically positioned in the Permian Basin.

The Permian Basin is well known to US oil and gas investors. It is a prolific area, located in Texas and New Mexico, that has produced over 35 billion barrels of oil and 100 trillion cubic feet of natural gas. Many reservoirs within the Permian Basin have production levels of over 1 million barrels of oil. Overall, the Permian Basin is the source of over 20 percent of all domestic oil and gas production.

Mr. Mackenzie has over 30 years experience in the energy industry with companies that have developed significant energy projects in the North Sea (UK and Norway), Abu Dhabi, Dubai, Egypt, Libya, Bangladesh and China. He is also currently the founder and chairman of C&C Energy Canada LTD., which is involved in oil and gas exploration in Columbia. These assets are currently capable of producing over 5,000 barrels of oil per day.

Companies that Mr. Mackenzie has been associated with have been at the leading edge of technology in all sectors of the oil and gas business. His expertise and that of his team will be used to develop a strategic plan for the development of FormCap’s Weber City Prospect. The plan will include the scope of seismic surveys, the delineation of multiple drill targets and access to capital to assist in the exploration of the company’s leases.

Formcap’s president Graham Douglas said, “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.”

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Expands Acreage in New Mexico

Tuesday, February 9th, 2010

Yesterday after the closing bell, FormCap Corp. announced that it has increased its acreage position in the Permian Basin by approximately 1,000 gross acres to 5,800 acres of oil & gas leases, all with primary terms of five (5) years. Together with the original 4,800 acres, these leases comprise the Weber City Prospect located in Curry County, New Mexico, which lies on the eastern most side of New Mexico bordering the State of Texas. The new leases are part of an on-going acquisition plan currently in progress in New Mexico.

The Weber City Prospect is strategically positioned in the Permian Basin. A prolific area that has produced more than 35 billion barrels of oil and 100 trillion cubic feet of gas, the Permian Basin is host to over 20 percent of all domestic oil and gas produced in the US. Recent M&A activity in the Permian Basin underscores the growing importance of this historically prolific, domestic source of energy. The area’s development history and stable, long-life production is one of the main reasons FormCap chose the Weber City Prospect acreage.

The company anticipates drilling an initial 7,000 foot well to test four potentially productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and Cisco formations. Over 100 wells (based on 40 acre spacing) could be drilled on the Prospect and it is estimated that these leases could contain more than 220 million barrels of oil in a successful case.

“As part of our long-term strategy, FormCap is continuing to secure additional acreage in the Weber City Prospect area. We are also actively pursuing and evaluating other potential acquisitions for the Company,” stated Graham Douglas, FormCap’s President & CEO.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Announces Operations and Farm-in Agreement with Mr. Mackenzie of Alberta

Monday, February 8th, 2010

Friday after the closing bell, FormCap Corp. was 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. Consisting of approximately 4,800 acres with room for 100+ well locations, the Weber City Prospect is strategically positioned in the Permian Basin, a prolific area that has produced more than 35 billion barrels of oil and 100 trillion cubic feet of gas.

Mr. Mackenzie has over three decades 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. Currently, 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 capable of producing over 5,000 BOPD.

Companies that Mr. Mackenzie has been associated with utilized cutting edge 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. For FormCap, 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 the company’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.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Has a Strong Foothold in the Permian Basin

Friday, February 5th, 2010

FormCap Corp. is a junior exploration and development company in the oil and gas sector. In October 2009, the company announced the acquisition of 4,900 acres of oil and gas leases, all with primary terms of five years, for a cost of only $250,000. The leases, together called the Weber City Prospect, are located in eastern New Mexico on the northern flank of the Permian Basin.

The Permian Basin is well known to oil and gas investors in the United States. It is one of the most prolific oil and gas producing areas of the entire world. Through the year 2000, approximately 1,300 reservoirs in the Permian Basin were identified as having cumulative production greater than one million barrels of oil. Cumulative production for this area so far is over 35 billion barrels of oil and 100 trillion cubic feet of gas. Overall, the Permian Basin is the source of over 20 percent of all domestic oil and production.

The Permian Basin, with its development history and stable, long-life, shallow decline reserves, is a strong bet for petroleum exploration companies. It is estimated that only about a third of the huge oil resource in the Permian Basin has been recovered. That is why even oil giants like ExxonMobil are moving quickly into the region.

Due to detailed mapping, Landsat imagery, seismic analysis and log evaluation, FormCap is confident of success for the Weber City Prospect. In addition, based on modeling of a nearby existing field (the Anton Irish field), well recoveries for FormCap’s prospect are expected to range from 100,000 to over 500,000 barrels of oil per well. With 40 acre spacing in the company’s prospect, there is room for approximately 100 wells.

Therefore, FormCap’s Weber City Prospect is estimated to contain potentially 220 million barrels of oil. The bottom line is that FormCap, with their Weber City Prospect, looks to be ideally situated to capitalize on a lucrative opportunity in the prolific Permian Basin.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Ideally Situated in the Prolific Oil Vicinity of the Permian Basin

Monday, February 1st, 2010

FormCap Corp. is an emerging junior company in the oil and gas sector. The company owns 4,900 acres – the Weber City Prospect – in the Permian Basin, an area well known for its hydrocarbon production. The Permian Basin has produced over 35 billion barrels of oil and 100 trillion cubic feet of gas. It is host to over 20 percent of all domestic oil and gas produced in the US.

The ‘smart’ money is investing into Permian Basin assets. For example, ExxonMobil (NYSE: XOM) is buying XTO Energy for $31 billion – the largest US energy takeover since Conoco-Phillips acquired Burlington Resources. The takeover occurred in large part due to XTO Energy’s large land position in the Permian Basin. Exxon was not alone in its interest in the Permian Basin. Other large energy companies acquiring assets in the Permian Basin include Occidental Petroleum and SandRidge Energy.

This takeover indicated a real shift in Exxon’s strategy and validated the independent exploration and production business model of smaller companies, like FormCap, which focus on the development of the Permian Basin areas of western Texas and eastern New Mexico as a key source of energy. The latest drill logs show that interest in the region is on the rise and that the Permian Basin is a hotbed of activity. Recent permit applications show that many other energy companies – Anadarko, Apache, Devon, Chevron and Kinder Morgan – are becoming involved in the area.

It appears that FormCap is ideally situated with their acreage in the Permian Basin. Based on modeling of a look-alike existing producing field – the Anton Irish field – well recoveries are expected to range from 100,000 to over 500,000 barrels of oil per well. Prospect wells are anticipated to flow at initial rates averaging 300 barrels per day, free of formation water. With 40 acre spacing in this prospect, there is room for approximately 100 wells.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) – A Well-Positioned Emerging Oil Company

Tuesday, January 26th, 2010

Oil is becoming not only harder to find but also much more costly to extract. That is why domestic, onshore oil fields like the Permian Basin – where cumulative production is over 35 billion barrels of oil and 100 trillion cubic feet of gas – are so vitally important and attractive to US producers. FormCap is a company well positioned to achieve exploration success with its sizable position in the Permian Basin.

To date, the company has acquired 4,800 acres of oil and gas 5-year term mineral leases – the Weber City Prospect – in a Permian Basin region of eastern New Mexico. FormCap offers more bang for the buck for investors, because in contrast to the company’s larger competitors who have much higher overhead costs, a greater percentage of the capital that FormCap deploys for exploration actually goes into the ground.

With 40 acre spacing, FormCap believes it can potentially drill up to 100 wells on the prospect. The company’s primary objective is to extract oil from the Cisco Formation, which is believed to be a ‘giant oil trap’ formed millions of years ago. Based on Gulf Oil’s success drilling a shallow well in the Cisco Formation in 1947 and a modeling of a look-alike existing producing field (the Anton Irish field), FormCap is confident that well recoveries within its acreage could range from 100,000 to over 500,000 barrels of oil per well. Project wells are anticipate to flow at initial rates averaging 300 barrels per day.

If FormCap experiences this type of drilling success, it means that the company’s Weber City Prospect could potentially contain over 220 million barrels of oil. This would mean tremendous upside in a stock selling at its current price. Adding to the company’s favorable exploration opportunity is a management team with a proven track record for successfully exploring and developing lucrative oil and gas projects.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) to Help Meet the Nation’s Need for Oil

Tuesday, January 19th, 2010

FormCap Corp. is an emerging exploration and development company in the oil and gas sector. The company’s primary focus is the discovery and development of oil in the continental United States, particularly in the Permian Basin. The Permian Basin is a prolific area that has produced over 35 billion barrels of oil and 100 trillion cubic feet of natural gas. The basin is host to over 20 percent of all domestic oil and gas produced in the United States.

Any oil discovered by FormCap will definitely be needed as the United States competes for scarce energy resources with emerging economies such as China, whose oil imports climb to new highs seemingly every month. Global energy consumption is expected to rise 50% by 2030 to 112.5 million barrels of oil per day. The sharp rise in demand for oil may happen even sooner than 2030 if a strong global economic rebound takes hold.

Adding to the growing demand for oil are concerns about the future supplies of oil. These include geopolitical worries in countries such as Iran, Iraq, Nigeria and Venezuela. But perhaps more importantly are concerns about the diminishing supplies of oil coming from the world’s existing major oil fields, such as Mexico’s Catarell field. The first-of-its-kind study last year by the International Energy Agency (IEA) of the world’s largest 800 oil fields showed that most of the big fields have peaked and production is declining at about a 6.7% rate.

It is with this backdrop that firms such as Goldman Sachs are forecasting that oil prices will average $90 a barrel this year and $110 a barrel next year. And don’t expect help from OPEC – they have said that they do not plan to increase output until a huge amount of oversupply has been absorbed. OPEC itself is expecting $80-$90 a barrel for oil prices in 2010. Natural gas prices have also climbed recently as bitter cold weather has helped to work-off a record-high level of gas inventories.

All of this plays right into FormCap’s hand with its holdings in the Permian Basin. The company’s first project – the Weber City Prospect located in Curry County, New Mexico – gives them about 4,800 acres of oil and gas leases in this prime property in eastern New Mexico. The region is so prolific that some 1,300 reservoirs have been identified as having production ceilings of 1 million barrels or more. And it is still a vastly undeveloped region – even in the more developed Texas-portion of the Permian Basin. Only 28 percent of the potential reserves have been developed to date. FormCap believes that in a successful case, there is potential to drill up to 100 wells on the property which may produce up to 300 million barrels of oil.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Poised to Capture Permian Basin Oil Revenue

Wednesday, January 13th, 2010

FormCap Corp., a budding developer of oil and gas properties within the Continental United States – with a complement of some of the finest exploration people in the business today – is poised to make big returns via its foothold in the Permian Basin.

In possession of some 4,900 acres of oil and gas leases on prime property in the Permian Basin region, collectively known as the Weber City Prospect, FRMC is ideally situated to exploit the abundant reserves for which the region is known.

The Prospect, located in Curry County, New Mexico, is well defined thanks to well log, seismic, Landsat and geological data generated by FRMC’s experienced exploration team, led by Chief Geologist, Thomas Markham.

With excellent access to all four of the main hydrocarbon formations in the Permian Basin, an area abundant in oil shows and characterized by stable, shallow decline reserves with markedly long life spans, FRMC is able to harvest the vast resources of the Cisco, Clearfork, Wolfcamp, and San Andres formations.

Accounting for 20% of all domestic U.S. oil and gas extraction, the Permian Basin has produced in excess of 35 Bbbl (billion barrels of oil) and 100 trillion cubic feet of gas.

The region is so rich, in fact, that some 1,300 reservoirs (1k in Texas and 300 in New Mexico) were identified as having production ceilings of 1 million barrels of oil each through 2000, in a joint 2003 report conducted by the Bureau of Economic Geology and the New Mexico Bureau of Geology and Mineral Resources.

A closer look at the Permian Basin reveals even more tantalizing details: the reservoirs in the Permian Basin all come from organic material deposited during the majority of the Paleozoic era, which generated incredible amounts of plant and animal life, ending with the largest mass extinction event in the history of the planet.

This sequence of events led to the development of a multitude of highly porous pockets in the Permian and Pennsylvanian limestone sedimentary layers, the remnants of ancient, warm and shallow seas teeming with marine organisms.

The Cisco formation, the main focus of the Prospect, is a perfect example of such a marine formation, which created a natural reservoir and was then capped off by thick Ochoan (a stage in the Permian layer) evaporate sections. In fact, the Cisco formation is an ideal example of source, reservoir and trap distribution.

Only 28% of the potential reserves have been developed to date (30 Bbbl) in the Texas portion of the Permian Basin, a small fraction of the roughly 106 Bbbl of original oil in place (OOIP).

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Led by a Formidable Management Team and Advisors

Monday, January 11th, 2010

FormCap is a domestic, emerging exploration and development company in the oil and gas sector. To date, the company has assembled 4,800 acres of oil and gas mineral leases – the Weber City Prospect – in Curry County, New Mexico. In a successful case, there is the potential to drill up to 100 wells which may produce up to 300 million barrels of oil.

The company’s current management team is led by Graham Douglas. Advisors have been hired on a contract basis as required to minimize expenditures during FormCap’s start-up phase. Here is a brief summary of the management team and their advisors:

Graham Douglas, President

Graham Douglas is an experienced business executive with 35 years of financial and operational management experience. From 1970 to 1978, he worked in corporate finance for two large Canadian banks. From 1978 through 1985, Mr. Douglas was involved in the real estate and construction industry in a financial capacity. In the period from 1986 through 1992, he was the COO of a large west coast Canadian transport, warehousing, freight forwarding and sea terminal operator.

Beginning in 1992, Mr. Douglas has been active as a business consultant in the area of corporate restructurings, mergers and acquisitions, corporate finance and public offerings. He has been an early stage investor and assisted in raising later stage funding for several companies in a variety of industries. Industries including: beverage, food processing, construction, telecom, technology, mining, biofuels and oil and gas exploration. In several instances, Mr. Douglas has taken temporary positions in management and governance through transitional periods or in difficult circumstances.

Thomas Markham, Chief Geologist

Mr. Markham is a professional geologist specializing in evaluation and development of oil and gas plays in the mid-continental United States. He began his career working with firms such as ARCO and Tenneco, acting as geologist on a wide range of projects spanning over 12 years of development on leading plays including the Pinon, Allen Hill, Brunson Ranch, Brown Bassett Extension, J.D. Shale and NYY projects.

He has been an independent oil and gas geologist managing project generation and evaluation for various industries, primarily in the mid-continent. Mr. Markham recently acted as chief geologist for a 21,000 acre Pennsylvanian gas play in the Permian Basin. He has also successfully drilled and completed proprietary prospects – while providing the supervision of seismic, leasing, drilling, completion, and production activities – of 88 oil and gas wells (to 10,500 feet) in Texas, Oklahoma and New Mexico.

Randall K. Boatright

Mr. Boatright most recently served as interim president and CEO, CFO and director of Dexterity Surgical Inc. He has extensive experience in the energy business as he was formerly the executive vice-president, CFO and director of Abraxas Petroleum Corp. (AMEX: ABP) and controller of a large private independent oil and gas company.

MAC Advisory Services

MAC Advisors is a mini-microcap advisory service with oil and gas expertise. MAC principals have over 50 years of direct experience in related areas of: oil and gas finance, accounting and capital equipment, corporate finance and merchant banking, and management of both public and private developmental stage companies.

The principals have work experience that includes work at Gearhart/Halliburton, as well as corporate finance experience with Dorchester Oil and Gas – both Fortune 500 companies. They have also worked as analysts concentrating on exploration, crude oil purchasing and related special projects. In addition, they have worked as independent landman in West Texas and hold royalty and working interests in several producing oil and gas properties.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Issues Corporate Update to Investors

Tuesday, January 5th, 2010

FormCap Corp, an emerging junior in the oil and gas sector, recently acquired strategically positioned acreage located in the Permian Basin. This prolific area has produced over 35 billion barrels of oil and 100 trillion cubic feet of gas, and is host to more than 20 percent of all domestic oil and gas produced in the US.

Exxon Mobil recently bought XTO Energy for $31 billion, which was the largest U.S. energy takeover since Houston-based Conoco-Phillips acquired Burlington Resources. This acquisition was made largely in part for XTO’s significant Permian Basin assets. Soon after Exxon’s takeover of XTO, a Bloomberg article on December 14th, 2009, reported that the Exxon acquisition may have signaled a wave of new acquisitions referencing Occidental Petroleum’s purchase of Plains Exploration & Production’s interest in the Permian Basin of West Texas and New Mexico, as well as their Piceance Basin assets of Colorado for $1.25 billion. Additionally, SandRidge Energy recently acquired Forest Oil’s Permian Basin assets for $800 million. The Permian Basin’s development history and stable, long-life production is one of the main reasons FormCap secured the Weber City Prospect acreage.

FormCap currently 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. Having completed its registration to conduct business in the State of New Mexico, the company is in the process of establishing itself as Operator.

FormCap plans to drill an initial 7,000 foot well to test four potentially productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and Cisco formations. Approximately 100 wells (based on 40 acre spacing) could be drilled on the Prospect. It is anticipated that these leases could contain more than 220 million barrels of oil in a successful case. In conclusion, the company told investors that it is making its 15c-211 filing for listing on the Over-the-Counter Bulletin Board (OTCBB).

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Drilling the Weber City Prospect in the Permian Basin

Monday, January 4th, 2010

FormCap Corp. is an emerging domestic exploration and development company in the Oil and gas sector. To date, the company has assembled 4,800 acres of oil and gas mineral leases – the Weber City Prospect – located in Curry County in eastern New Mexico.

Geologically, FormCap’s Weber City Prospect is on the northern flank of the prolific Permian Basin and focuses on the Cisco Formation of Pennsylvanian Age. In order to better understand the prospect from a geological perspective, here is a brief description of the Pennsylvanian Reef reservoirs formed:

The Cisco Formation is primarily marine limestone and shales, with the reservoir developed in limestone sequences. Structures evolved on the seafloor of the relatively shallow, warm Pennsylvanian seas. Upon these structures, patch reefs began to grow. As the Pennsylvanian sea deepened, the reefs grew vertically in an attempt to stay close to the surface and most critically within the ‘sunlight’ zone. A major regression of the sea left the reefs exposed leading to excellent porosity and permeability development.

Several of these Pennsylvanian Reef reservoirs are giant oil traps, producing over a billion barrels of oil in the Permian Basin. The company’s Weber City Prospect focuses on the same type of oil trap. Detailed mapping, landsat imagery, seismic analysis and log evaluation outlines a major, combination stratigraphic, structural trap on the Weber City Prospect which mirrors the existing Anton Irish Field. FormCap is hoping for similar results in the Permian Basin where individual leases can produce over a million barrels of oil.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Has High Hopes for Prospect in Permian Basin

Monday, December 28th, 2009

FormCap Corp. is a domestic oil and gas exploration and development company. To date, the company has assembled 4,800 acres of oil and gas leases – the Weber City Prospect – located in Curry County, New Mexico.

The company’s Weber City Prospect is geologically located on the northern flank of the prolific Permian Basin. The initial well within the prospect will be drilled to a total depth of 7,000 feet to test four potentially productive hydrocarbon zones – the San Andres, Clearfork, Wolfcamp, and the Cisco Formation.

Based on a modeling of a ‘look-alike’ existing and productive field – the Anton Irish Field – well recoveries are expected to range from 100,000 to over 500,000 barrels of oil per well. An estimated 100 wells could be drilled on the prospect, based on 40 acre spacing in this area. The prospect is estimated to produce from 220 to 300 million barrels of oil in a successful case and wells are anticipated to flow at initial rates averaging 300 barrels of oil per day, free of formation water.

FormCap, whose leases are for five years, is confident of success for their Weber City Prospect. The company’s confidence is based on Landsat imagery, detailed mapping, well log data, seismic analysis and independent third-party geological interpretations for the Prospect along with the Permian Basin’s rich history of oil production.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Chief Geologist Thomas Markham, a Closer Look

Monday, December 21st, 2009

Formcap Corp., a rising star in the world of oil and gas, hired Mr. Thomas Markham as a consulting Senior Geologist in December of 09 largely as what President and CEO of FRMC Graham Douglas called a “critical first step” towards developing the 4,800-acre Weber City Prospect.

Mr. Markham earned a Masters in Geology from LSU in 1976 and has since gone on to spearhead multiple projects evaluating and developing oil and gas reserves for commercial use throughout the continental United States. Markham, through his various exploits (including working for sector powerhouses like Arco, Bepco, Tenneco, and Houston Oil and Gas), has discovered and developed some 75 Million net equivalent barrels of oil.

The last 12 years have seen Markham directing teams of up to 15 geologists with budgets from $11-$21M at leading plays; i.e., areas where hydrocarbon accumulations or prospects of a given type occur, such as the Pinon, Brunson Ranch, Allen Hill, Brown Bassett Extension, J.D. Shale, and NYY projects.

Markham is no stranger to successfully managing geoscience teams with multimillion dollar budgets, where he brings to bear his numerous specializations like well survey and analysis, deposit analysis (including diagenetics, or changes in the sediment after its initial deposition), seismic analysis, stratigraphic analysis – concerning rock layers or strata vis-à-vis hydrocarbon exploitation – and overall profitability analysis regarding the development potential of oil or gas projects.

With abundant experience throughout the U.S., including Alaska’s Prudhoe Bay and even recent offshore experience in South America, Markham brings his wealth of expertise to bear for FRMC’s investors.

Recent work in the Permian Basin, on a 21k-acre play in Pennsylvania, where Markham was Chief Geologist, and in Oklahoma where he was instrumental in negotiating for drilling rights with the Osage Tribe of Oklahoma to develop some 9,120 acres, are just examples of Markham’s track record. It is impossible in the space of one short article to truly portray the level of competence, excellence and professionalism Markham is acclaimed for.

Drilling and completion of proprietary prospects in Texas, Oklahoma and New Mexico, to depths of up to 10,500’ on some 88 oil and gas wells – where Markham oversaw everything from seismic analysis to leasing and production – afford abundant evidence of his prowess and thorough knowledge of resource development from planning to execution.

A 5 trillion cubic feet of gas (TCFG) overthrust play in Texas, where Markham was generating geologist; a stratigraphic play in New Mexico San Andres with wells to 4k feet and an estimated ceiling of 100 million barrels which he finalized; and the evaluation of data modeling of reserves in the Anadarko Basin are other examples of Markham’s recent work.

Published in prestigious industry publications like the American Gas Journal, and even asked to review reserves for the former Soviet Union, Markham was also recently asked to be guest speaker at the “Buying Oil and Gas Properties” seminar organized by the American Association of Petroleum Landmen.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) to Establish Operatorship in New Mexico

Wednesday, December 16th, 2009

In anticipation of drilling and developing the 4,900 acre Weber City Prospect, FormCap Corp. announced today that it is establishing itself as an Operator in the State of New Mexico.

This move will provide the company with complete control over operations on wells developed on its prospects. Achieving Operator status will eliminate the need for third party contracting of these services.

“Having complete operational control over production on our prospects will eliminate the need for Third Party contracted services, improving the over-all economics of prospects developed in New Mexico,” stated Graham Douglas, FormCap’s President & CEO.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp.’s (FRMC.PK) Recently Issued Corporate Update

Tuesday, December 15th, 2009

FormCap Corporation is a domestic oil and gas exploration and development company. Several weeks ago, the company issued a corporate update to the public and their shareholders. The highlights of the update follow:

The company completed the acquisition of the Weber City Prospect located in Curry County, New Mexico. The Weber City Prospect consists of 4,800 acres, all with five-year primary term leases. FormCap now holds 100% working interest and 80% net revenue interest in the acreage. The company has commenced activities in preparation for drilling its initial 7,000 foot well to test four potentially productive hydrocarbon zones – the San Andres, Clearfork, Wolfcamp and Cisco formations.

Based on 40-acre spacing, approximately 100 wells could be drilled in the Weber City Prospect. It is estimated that these leases could contain over 220 million barrels of oil in a successful case. Wells are anticipated to flow at initial rates of approximately 300 barrels per day, free of formation water. FormCap has had several groups review their technical and geological data on the Prospect and as Graham Douglas, FormCap’s president and CEO, said, “Without exception, they see the merits of the Prospect and are excited by its potential.” The company’s management is also currently evaluating other potential oil & gas assets for acquisition.

The company also made two other announcements in its update. FormCap has identified several candidates for the positions of CFO, senior geologist, vice-president of corporate development and drilling engineer to strengthen the existing management team. In addition, over the past four months FormCap has completed and filed its year-end audit and quarterly financial information. The company is now preparing its 15c-211 filing for listing on the Over-the-Counter Bulletin Board (OTCBB). It is anticipated that this submission will be made early in the New Year.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) Brings Together Key Professionals for Success

Thursday, December 10th, 2009

FormCap Corporation, an emerging oil and gas exploration company, owes its potential to a closely knit team of professionals that have already assembled 4,800 acres of promising oil and gas mineral leases.

• Graham Douglas, President – An experienced executive, with 35 years of financial and operational management success in North American and international markets, Graham Douglas has been an early stage investor and has been key in raising funding for several companies in a variety of industries, including oil and gas exploration. In several instances, he has managed companies through transitional periods or difficult circumstances.

Since 1992, he has been active as a business consultant in the area of corporate restructurings, mergers and acquisitions, as well as corporate finance and public offerings. Earlier in his career, he served as the Chief Operating Officer of a large west coast Canadian transportation, warehousing, and sea terminal operation, overseeing the company’s restructuring and the eventual sale of its operating entities. He has also worked in the banking industry in corporate finance, and in the commercial/industrial real estate development and construction industry.

• Thomas Markham, Chief Geologist – Thomas Markham is a long-time professional geologist, specializing in evaluation and development of oil and gas plays in the mid-continental U.S. He has extensive geological experience in oil and gas exploration, having worked with ARCO, TENNECO, and BEPCO on a wide range of projects. He has been responsible for directing teams of geologists, and has managed annual budgets of up to $21 million.

He has successfully drilled and completed proprietary prospects of 88 oil and gas wells in Texas, New Mexico, and Oklahoma, and has been published in the American Gas Journal. He was invited on a technical tour of the former Soviet Union to review oil and gas assets, and has also been a guest speaker at the American Association of Petroleum Landman’s (AAPL) “Buying Oil and Gas Properties” seminar.

• Randall K. Boatright – Randall Boatright has extensive experience in the energy business, and was formerly EVP, CFO, and Director of Abraxas Petroleum Corporation (AMEX:ABP), as well as a Controller of a large private independent oil and gas company. He is also a CPA, and has worked with Coopers & Lybrand LLP, and also served as Interim President and CEO, CFO, and Director of Dexterity Surgical, Inc.

In addition to the above, FormCap Corporation uses MAC Advisory Services, a mini-cap advisory service with oil and gas expertise. The firm is headed by Mark Teinert and David Parker, with over 50 years of combined experience related to oil and gas finance, accounting, and capital equipment, as well as corporate finance, merchant banking, and management of development stage companies.

Let us hear your thoughts: FormCap Corp. Message Board

Formcap Corp. (FRMC.PK) Adds Thomas Markham as Senior Geologist

Tuesday, December 8th, 2009

Formcap Corp. was pleased to announce today that it has engaged Mr. Thomas Markham as a consulting Senior Geologist. A professional geologist specializing in the evaluation and development of oil and gas plays in the onshore United States, Tom received his Masters of Geology from LSU in 1976 and then pursued a career working with ARCO, BEPCO, HOUSTON OIL and MINERALS, and TENNECO.

Mr. Markham as an individual geologist and as part of exploration and development teams discovered and developed more than 75 million net equivalent barrels of oil. With increasing budget and managerial responsibilities, Tom managed geoscience teams of up to fifteen graduate professionals with budgets from $11 million to $23 million.

Along with managerial skills, his geoscience specialties include well survey analysis and interpretation, evaluation of depositional and diagenetic systems, seismic – stratigraphic application to the exploration and exploitation of hydrocarbon reservoirs, and definitive risk/reward economic evaluation of oil and gas projects. He has evaluated and participated in oil and gas programs throughout the continental United States and Alaska (Prudhoe Bay), and was involved with analysis of offshore South America Basins as a third party consultant.

Onshore United States, Mr. Markham’s recent activities have included analysis of over pressured shale gas reservoir systems in the Mississippi Interior Salt Basin; evaluation of a major shear system in New Mexico (Weber City Prospect), and mapping the updip pinchout of Permian age carbonate reservoirs with possible reserve exposure of over 100 million barrels of oil. Tom has been published in the American Gas Journal and was invited on a technical tour of the former Soviet Union to review oil and gas assets. He has also been a guest speaker at the American Association of Petroleum Landman’s (AAPL) “Buying Oil and Gas Properties” seminar.

“As FormCap prepares to drill the Weber City Prospect, it will need to expand its management team. The addition of Mr. Markham to our team is a critical first step. Tom’s experience and understanding of the Weber City Prospect is crucial to optimize our probability of success” stated Graham Douglas, FormCap’s President & CEO.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp.’s (FRMC.PK) Acquisition of Permian Basin Leases

Thursday, December 3rd, 2009

FormCap Corp. is a domestic oil and gas exploration and development company. The company announced in October the acquisition of 4,800 acres of oil and gas leases, all with primary terms of five years, initiated in June 2009, for a cost of $250,000. The leases, together called the Weber City Prospect, are located in Curry Country, New Mexico.

Geologically, the Weber City Prospect is on the northern flank of the prolific Permian Basin, which is well known for its oil production, having four well-established hydrocarbon formations. The initial well will be drilled to a total of 6,500 feet to test four potential productive hydrocarbon zones: the San Andres, Clearfork, Wolfcamp and finally, the primary objective – the Cisco formation.

Based on a modeling of a look-alike existing producing field (the Anton Irish field), well recoveries are expected to range from 100,000 to over 500,000 barrels of oil per well. With 40 acre spacing in this prospect, there is room for approximately 100 wells. The Weber City Prospect is estimated to contain potentially over 220 million barrels of oil. Prospect wells are anticipated to flow at initial rates averaging 300 barrels per day, free of formation water.

FormCap is confident of success for the Weber City Prospect. Detailed mapping, Landsat imagery, seismic analysis and log evaluation outlines a major, combination stratigraphic, structural trap on the Prospect, as was the case in the existing ‘Anton Irish’ field. The company has also outlined multiple secondary objectives in the primary producing zones of the Permian Basin in areas of Texas and New Mexico.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap Corp. (FRMC.PK) is “One to Watch”

Monday, November 30th, 2009

FormCap Corp. is an emerging oil & gas exploration and development company. With a primary focus on the discovery and development of oil in the Continental United States, the company has assembled 4,800 acres of oil and gas mineral leases, together called the Weber City Prospect, located in Curry County, New Mexico.

The Weber City Prospect has been defined by detailed geological information including well log data, seismic, Landsat and independent third party geological interpretation. After thorough review of the collected data, FormCap believes there is potential to drill up to 100 wells that could produce over 300 million barrels of oil.

The initial well will be drilled to a total depth of 6,500′ to test four potential productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and, the primary objective, the Cisco Formation. The company has also outlined multiple secondary objectives in the primary producing zones of the Permain Basin of New Mexico and Texas.

The Permian Basin is very prolific and well known for its oil production. Owning their leases 100%, FormCap is fully in charge of its exploration and drill plan. The four well established formations should provide FormCap with a relatively low risk opportunity as the company’s experienced management team dedicates all efforts towards profitability.

Let us hear your thoughts: FormCap Corp. Message Board

FormCap (FRMC.PK) Receives Termination

Friday, September 25th, 2009

FORMCAP CORP (PINKSHEETS:FRMC) announced today that it has received a letter from Morgan Creek Energy Corp terminating the Option Agreement between FormCap Corp and Morgan Creek Energy Corp. on the Frio Draw Prospect in New Mexico.

FormCap (FRMC.PK) – Morgan Creek Energy Enters Definitive Joint Drilling Agreement

Tuesday, August 25th, 2009

This news release is further to the news release of July 9, 2009 of Morgan Creek Energy Corp. (“Morgan Creek”) (OTC Bulletin Board: MCKE; M6C1-Frankfurt) wherein Morgan Creek announced that it had entered a definitive agreement with FormCap Corp. (“FormCap”), and had granted FormCap an option and then, if exercised, subsequent joint venture drilling rights on the Company’s Frio Draw prospect in Curry County, New Mexico, which agreement was subject to FormCap conducting its due diligence before proceeding.

The Company is very pleased to announce that FormCap has conducted its due diligence under that agreement and FormCap has advanced an initial payment towards the Option and will proceed with plans to drill and complete the first of two mutually defined targets on the Company’s leases immediately.

Under the terms of the Option Agreement, FormCap can acquire up to 50% Working Interest (40.75% Net Revenue Interest) in the 13,252 acre Frio Draw Prospect by drilling and completing two wells; initially, a 25% Working Interest from drilling and completing and paying for the first well and then an additional 25% Working Interest from drilling and completing and paying for the second well. The estimated cost to FormCap for the drilling and completing the two wells is US$1,300,000.00.

After the initial two wells have been drilled and completed and paid for by FormCap, FormCap and Morgan Creek will fund additional drilling on a 50/50 basis. A total of approximately 180 wells potentially can be drilled on the Frio Draw Prospect acreage.

Following the initial well drilling and completion, Morgan Creek’s management and land team will work with FormCap to establish joint venture drilling initiatives based on technical data and drill results. The two companies will jointly fund additional targets and have a planned five-well drill program in order to effectively test the Frio Draw prospect.

FormCap (FRMC.PK) Due Diligence Completed on the Frio Draw Prospect

Monday, August 24th, 2009

FORMCAP CORP (PINKSHEETS:FRMC) announced today that it has completed its Due Diligence of the Frio Draw Prospect located in Curry County, New Mexico. FormCap’s management team and consultants completed a thorough review of all legal, technical and geological information available on the Frio Draw Prospect. All of the mineral leases, which make up the prospect, have been properly recorded and the lease bonus payments, all of which are for a five year term, have been verified. A drill site visit was conducted, meetings were held with the Driller, Landsat Data Consultant and the Geologist responsible for generating the prospect. “We are very pleased with level of detailed geological interpretation and well control that was available on this prospect. Core and log data from Stratagraphic wells completed by Shell in the late 1960’s indicate good structure and porosity, which we found to be very compelling,” stated FormCap President Graham Douglas.

Based on these conclusions, FormCap today advanced funds to begin the permitting process for the Nitz#1, the initial drill hole in the Frio Draw Prospect. The Company anticipates that all permitting and pre-drilling activity will be completed to accommodate a spud date sometime in October.

Under the terms of the Option Agreement, FormCap can acquire up to 50% Working Interest (40.75% Net Revenue Interest) in the 13,252 acre Frio Draw Prospect by drilling two wells; 25% Working Interest from drilling the first well and an additional 25% Working Interest from drilling the second well. Thereafter, FormCap and Morgan Creek will fund additional drilling on a heads-up basis. A total of 180 wells potentially can be drilled on the Frio Draw Prospect acreage.