FormCap Corp. is an emerging oil & gas exploration and development company. With a primary focus on the discovery and development of oil in the Continental United States, the company has assembled 4,800 acres of oil and gas mineral leases, together called the Weber City Prospect, located in Curry County, New Mexico.
The Weber City Prospect has been defined by detailed geological information including well log data, seismic, Landsat and independent third party geological interpretation. After thorough review of the collected data, FormCap believes there is potential to drill up to 100 wells that could produce over 300 million barrels of oil.
The initial well will be drilled to a total depth of 6,500′ to test four potential productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and, the primary objective, the Cisco Formation. The company has also outlined multiple secondary objectives in the primary producing zones of the Permain Basin of New Mexico and Texas.
The Permian Basin is very prolific and well known for its oil production. Owning their leases 100%, FormCap is fully in charge of its exploration and drill plan. The four well established formations should provide FormCap with a relatively low risk opportunity as the company’s experienced management team dedicates all efforts towards profitability.
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