Current Report Filing (8-k)
05 October 2013 - 6:07AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934
Date of Report (Date of earliest event reported): August 6,
2013
FORMCAP CORP.
(Exact name
of registrant as specified in its charter)
| Nevada |
000-28847 |
1006772219 |
| (State or Other Jurisdiction of |
(Commission File Number) |
(IRS Employer Identification No.) |
| Incorporation) |
|
|
| 50 West Liberty Street, Suite 880 |
|
| Reno, Nevada |
89501 |
| (Address of Principal Executive Offices ) |
(Zip Code) |
Registrant’s telephone number, including area code: (775)
285-5775
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| [ ] |
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425) |
| [ ] |
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) |
| [ ] |
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) |
|
| [ ] |
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c)) |
|
As used in this report, the terms "we", “us", “our", the
“Company" refer to Formcap Corp., a Nevada corporation.
ITEM 3.02 – PRESS RELEASE
September 30, 2013 – Reno, NV – FormCap Corp. (“FormCap” or
“the Company”) (OTCQB: FRMC) announces that the Company executed a Definitive
Agreement (the Agreement) with: Kerr Energy Group and Keta Oil & Gas LLC
(Kerr and Keta) both incorporated in Wichita, Kansas.
Pursuant to the terms of the Agreement the Company will pay
Kerr and Keta a non-refundable deposit in the amount of $25,000 (the “Deposit”)
that will be applied to the purchase price of oil leases (the Leases) to be
purchased, by Formcap, in Cowley County Kansas. The Company will also issue Kerr
and Keta a total of 200,000 Rule 144 shares of FormCap pursuant to the terms of
the Agreement.
Furthermore Formcap will pay Kerr and Keta two hundred dollars
($200.00) per acre for up to 1,500 acres of Leases, at total cost not to exceed
three hundred thousand dollars ($300,000) (the “Purchase Price”) within 30 days
of execution of the Agreement subject to final due diligence by Formcap. FormCap
will own 100% of the Leases (80% net revenue to FormCap; 20% freehold royalty),
and will be operator. FormCap will have the option to purchase additional leases
in Cowley County from Kerr and Keta under an Area of Mutual Interest (“AMI”),
the terms of which are set forth in the Agreement. FormCap is required to drill
one (1) well in each of the first two (2) years of the Lease term to maintain
its interest in the Leases.
FormCap will also have the option to participate in the
drilling of up to six (6) exploration or development wells on lands currently
owned by Keta and Kerr under terms set forth in the Agreement .
Graham Douglas, CEO of Formcap stated: “Formcap is excited to
conclude a Definitive Agreement to purchase oil leases in Cowley County Kansas,
an area of heightened oil exploration in recent years. Prospects for commercial
development of oil and gas in North America have never been better”
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.
FormCap is actively engaged in identifying, financing and
developing oil and gas energy resource properties in North America, including
the development of the Cowley County, Kansas, Mississippi Prospect in Kansas.
FormCap continues to review additional resource properties that combine positive
elements of short-term exploration and development costs with high potential for
long-term success and financial return.
Graham Douglas, CEO of FormCap reports that “FormCap is excited
about the potential of its relationship with Kerr and Keta in Cowley County,
Kansas as there are tremendous opportunities to produce commercial light oil and gas in an environment of high
crude oil prices and low finding and developing costs.”
Additional information can be found at the Company website:
www.formcapcorp.com
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
None
SIGNATURES
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: October 4, 2013 |
FORMCAP CORP |
| |
|
|
| |
By: |
/s/
Graham Douglas |
| |
|
Graham Douglas |
| |
|
Chief Executive Officer
|
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