Our New Gas and Oil Profile is
FRMC
FormCap Corporation (OTCQB: FRMC) is an emerging oil and gas exploration and development company. The company’s primary focus is the discovery and development of light crude oil in the lower US states, primarily targeting the Mississippian formation in southeast Kansas. This prolific area has numerous producing zones, including the Mississippian, Layton, Lansing-Kansas City, Bartlesville, Stalnaker, and the Arbuckle. Total production in Cowley County, Kansas is over 160 million barrels of oil and over 200 billion cubic feet of natural gas, making the overall prospects for positive results in the Mississippian lime project very high.
FormCap is actively engaged in identifying, financing and developing light crude oil resource properties in North America, including the development of the Cowley County, Kansas, Mississippi Prospect in Kansas.The overall prospects for positive results in the Mississippian lime project are high. The State of Kansas has produced over 6 billion barrels of oil, with a large percentage coming from between the Central Kansas uplift and the Nemaha up-lift.
The Mississippian oil trend is an expansive carbonate stratigraphic trap producing at shallow depth ranging from 3,000 - 4,000 foot under surface. The reservoirs lie at the regional Pennsylvanian / Mississippian unconformity which in Cowley County, Kansas runs adjacent to the Nemaha uplift. The formation was subject to weathering and digenesis and erosion at the regional unconformity, this results in greatly varying reservoir potential ranging from 5,000 - 100,000 barrels of oil in wells throughout Cowley County, Kansas. Both vertical and horizontal wells have potential in this area. The overall potential for larger accumulations of oil and gas is enhanced in the reservoir properties in Cowley County, Kansas due to the digenesis and weathering. The porosity in this area ranges from 15%-40% and the Mississippian formation ranges from 80 foot to 150 foot thick.
FormCap’s team is led by Graham Douglas, and includes advisors during the start-up phase, who will join the company as officers as the company’s program is executed.
Graham Douglas, President
Graham is an experienced business executive with 35 years of financial and operational management. He has been a business consultant in corporate restructurings, mergers and acquisitions, financings and public offerings. Graham has been an early stage investor and assisted in raising funding for companies in mining, oil and gas, biofuels, beverage, food processing, real estate, construction, and hightech.
Thomas Markham, Senior Geologist Tom is a professional geologist specializing in the evaluation and development of oil and gas plays in the United States. During his career he has worked with ARCO, BEPCO, Houston Oil and Minerals, and Tenneco, in technical positions of increasing responsibility. He and his geoscience teams have discovered and developed more than 75 million net equivalent barrels of oil and he has been responsible for budgets of up to $23 million. Along with managerial skills, his geoscience specialties include well survey (logs) 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.
Jim Kootnekoof, Director
Jim is the Founder and President and CEO of SecuSolutions LTD., an IT security consultancy and product development company based in Calgary Canada. He has worked in the IT Security industry for the past 16 years with a total of 7 years based in Tokyo, both as an independent contractor in North America, and as the founder and CEO of a top tier security consulting firm based in Tokyo Japan.
Recent News
FormCap Executes Letter of Intent (Farm-In) for Kansas Prospect
Reno, NV – FormCap Corp. (“FormCap” or “the Company”) (OTCQB: FRMC) announced today that it has executed a Letter of Intent (“LOI”) to execute a Farm-in Agreement (“Farm-in Agreement”) with Rainchief Energy Inc, (“Rainchief”) Vancouver, British Columbia, within ten (10) business days from the date of this announcement. The oil & gas prospect is 100% controlled by FormCap and includes 2400 acres of prospective oil and gas leases (“The FormCap Lands”) located in Cowley County, Kansas. The Lil-Bobby #1-28, a proposed 3,300’ Mississippian well is located in the NE/4 of the SE/4 of Section 28-T30S-R6E.
Under the terms of the Proposed Farm-in Agreement Rainchief shall have the right to earn a 60% working interest in 920 acres of the FormCap Lands by paying 100% of the cost to drill, complete and equip three (3) wells to target the Mississippian Formation. Upon completion of the third and final well Rainchief will also earn a 50% interest in the balance of the FormCap Lands representing 1440 acres.
Significant quantities of oil and gas have been discovered and produced in Cowley County in recent years. The prospects for oil production are excellent with multi-zone potential for both vertical and horizontal development. In addition to the Mississippian, zones producing in this area include the Layton, Lansing-Kansas City, Bartlesville, Stalnaker and the Arbuckle. Reservoir properties are excellent with good porosity and permeability in thicker accumulations of hydrocarbons. Total depths of approximately 4,000 feet provide drilling time of approximately seven (7) days with completed wells costing about $500,000 per vertical well.
http://formcapcorp.com/news/formcap-executes-letter-of-intent-farm-in-for-kansas-prospect
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