1st NRG Corp -- Corporate Update February 2014
2014年2月27日 - 10:45PM
Marketwired
1st NRG Corp -- Corporate Update February 2014
DENVER, CO--(Marketwired - Feb 27, 2014) - 1st NRG Corp.
(OTC Pink: FNRC) is an exploration and production company currently
engaged in the development of natural gas producing properties in
the Powder River Basin of Wyoming. Headquartered in Denver,
Colorado, our recent activity has been centered on the development
of coal bed methane reserves where we hold a working interest in 42
producing wells, 8 permitted locations and 3,300 undeveloped
acres. The Company is expanding its activities into one of
North America's most exciting shale plays participating in a
development of prospective acreage in SE Ohio encompassing
approximately 7,000 acres.
As we begin our 2014 development program the Company completed
the drilling phase of the Clabaugh Federal 42-15-5376 WA, the first
well in a planned eight well infill development drilling program in
Wyoming. The well was drilled to 1680' and as expected,
wireline logging identified approximately 200' of developed coal
seams in the Schwartz, Anderson, Canyon, Cook and Wall
formations. We are waiting for a change in the weather to
continue completion of this well, and are using the time to permit
a tool which will allow us to dispose of produced water within the
existing wellbore. The ARID™ Aquifer Recharge Injection System
was developed in order to solve the problems and costs associated
with the surface discharge of CBM /CSNG produced water. This
Aquifer Recharge Injection System has proven to satisfy the needs
of CBM Operators, as well as landowners, environmentalists, and
regulators as the safest and most cost effective method of removing
water from a gas producing coal seam while at the same time saving
the water in another aquifer all in the same well bore. ARID
Aquifer Recharge Injection is now considered a "Best Practice" by
CBM / CSNG gas producers that want to eliminate the cost and time
associated with surface water discharge. The activity extended the
lease for a period of two years while we establish production which
we still anticipate in Q1 2014.
In Ohio, the Company is participating in the development of
prospective acreage with Utica Shale potential on an initial block
of acreage encompassing approximately 7,000 acres. Time lines
for the initial drill site were extended to mid-March 2014 to
enable a more thorough evaluation of geology and title. The
Company holds a 20% working interest in the development and AMI and
is also carried in the first vertical test well.
For more information, please visit http://1stnrg-corp.com
Forward-looking statements in this release are 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 Corp. believes
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.
Contact: Brad Holmes Energy IR b_holmes@att.net (713) 654
4009
First NRG (CE) (USOTC:FNRC)
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