1ST NRG Corp
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press release
Nov. 6, 2013, 8:30 a.m. EST
1st NRG Corp. Enters Utica Shale Play
DENVER, CO, Nov 06, 2013 (Marketwired via COMTEX) -- 1st NRG Corp. (otc pink:FNRC) (http://1stnrg-corp.com) 1st NRG is pleased to announce that it has signed an agreement to participate in the development of prospective acreage in SE Ohio particularly seeking Utica Shale potential.
Eastern Ohio - Utica Shale
With the recent technological advances in drilling techniques, numerous operators have started looking at the Utica as the next oil frontier with several operators comparing its potential to the Eagle Ford Shale in Texas and the Bakken Shale in Williston Basin of North Dakota and Montana. While it is still very early in the play operators like Chesapeake Energy, Antero, Magnum Hunter, Gulfport Energy, Anadarko, Petroleum Development Corp and Devon (to name a few) have been acquiring acreage in Ohio.
1st NRG is pleased to announce that it has signed an agreement with a private energy company to participate in the development of prospective acreage in SE Ohio particularly seeking Utica Shale potential. The Company will be carried in the initial vertical test well and participate in future development with a 20% working interest. 1st NRG Corp. will not be the operator.
As information becomes available the size and extent of the Utica Shale resource will become more evident. The Ordovician-aged Utica Shale is distributed across several US states as well as Quebec, Canada and is found approximately 2,000+ ft below the Marcellus Shale. The Utica shale is generally shallower to the West and deepens to the East. In addition to the Utica Shale, other formations such as the Devonian shale, Marcellus shale, Clinton sandstone, Medina Sandstone, Trenton Limestone, Black River, Beekmantown dolomite and Rose Run all are potential targets below the Second Berea.
See the 1st NRG Corp. website for updates, at http://1stnrg-corp.com
Forward-Looking Statement
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "projects," "plans," "feels," "anticipates" and certain of the other foregoing statements may be deemed "forward-looking statements." Although 1st NRG believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release.
Sind wir gespannt, hat sich auf jeden Fall sehr spannend angehört.
Dear Sear,
we’ve made several significant announcements recently including the fact that we have signed on a partner to begin drilling the acreage we have in Ohio in the Utica Shale. We are also in the process of funding a program that will allow us to drill several natural gas wells on our acreage in Wyoming.
Unfortunately, we have no control over the stock price, we also wish it was much higher as we are shareholders also. Once we get a couple of wells drilled and get some production, cash flow and reserves we hope the stock price will reflect that growth.
Brad Holmes
EnergyIR
900 Essex Lane, Suite 950
Houston TX 77027
Office: 713/654-4009
Cell: 713/304-6962r