FormCap Corp. Signs Farm-Out Agreement for Oil and Gas Exploration in Alberta
29 March 2011 - 10:30PM
Marketwired
FormCap Corp. (PINKSHEETS: FRMC), an emerging oil & gas
exploration company, is pleased to announce that on March 16, 2011,
the Company signed a Farm-out Agreement for oil and gas exploration
in the Peco Area of Alberta. The Farm-out Agreement between FormCap
Corp. and a private Alberta Corporation is comprised of a Seismic
Option, a Farm-out and a Participation clause, each of which
contractually set out the terms that will underpin FormCap Corp.'s
exploration obligations and working interest in the project. The
Agreement stipulates a commencement date for the shooting of a 3D
seismic program on the Farm-out Lands not later than June 1, 2011.
For more information on FormCap Corp., please see:
www.formcapcorp.com
Mr. Graham Douglas, President and CEO, stated, "We are pleased
to have signed this Farm-out Agreement, which covers land in an
area where a number of exploration successes have been made in the
past. As stipulated by the Agreement, we plan to expeditiously
execute an exploration program that will include a 3D seismic
component. Looking forward, our goal is to build on this
exploration strategy, FormCap Corp.'s first foray into
Alberta."
About FormCap Corp. FormCap Corp., a reporting issuer that is
listed on the Pink Sheets under the symbol: FRMC.PK, is an emerging
exploration and development company in the oil & gas sector.
FormCap's mandate is to seek out highly prospective oil and gas
properties for acquisition, exploration and development.
Accordingly, FormCap Corp. will continue to aggressively pursue the
acquisition of additional oil and gas properties in renown
producing regions within continental North America. For more
information contact us at info@formcapcorp.com
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.
For Further Information Contact: Graham Douglas
gdouglas@formcapcorp.com
Formcap (CE) (USOTC:FRMC)
Historical Stock Chart
From Apr 2024 to May 2024
Formcap (CE) (USOTC:FRMC)
Historical Stock Chart
From May 2023 to May 2024