Falcon Crest Energy, a
development stage oil and gas exploration and production company, has announced
its acquisition of the remaining working interest in recently acquired
leasehold Rocky Ford Field in Crook County, Wyoming.
Previously, Falcon Crest
Energy leased federal lands from the United States Bureau of Land Management in
September 2014. The Company originally retained a 75% working interest in
approximately 585 acres in Rocky Ford Field, but turned the remaining working
interest holders into a royalty position.
Mr. Patrick Johnson, Chief
Executive Officer of the company, commented, “Having a 100% working interest in
the land package gives us maximum flexibility in terms of exploring and
developing the project. We are just finishing up our exploration plan and hope
to be making some announcements in this regard in the very near future. What
makes this play particularly attractive is that the drilling depths on this
play are shallow (less than 300M) making it very low cost to both explore and
develop. We believe we can do very well even at $50 oil, and believe the
markets will soon be turning to these kinds of conventional non-shale,
non-fracking opportunities.”
Falcon Crest is a
development stage oil and gas exploration and production company whose efforts
and resources are centered on developing properties in North America. Falcon
Crest Energy’s underlying plan is to minimize the risk of exploration through
development of proved petroleum reserves. This in turn enables the company to
maximize profit through strategic acquisition and liquidation of selected oil
and gas properties. Falcon Crest Energy aims to focus on acquiring low risk
properties with high upside that are connected to high exploration potential.
By way of improvements in oil and gas production technologies, FCEN looks to
rapidly increase production levels and generate predictable, sustainable value.
Keeping to clearly defined strategy, the company is focused entirely on
acquisitions and joint ventures to maximize production capacity.
For more information,
visit www.FalconCrestEnergy.com.
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