Force Fuels Is Actively Seeking Partners to Expand Oil Drilling on Their Kansas Properties
February 15 2011 - 7:30AM
Marketwired
Force Fuels Inc. (OTCBB: FOFU) announces new joint venture drilling
program on approximately 2,500 acres in Kansas. Under the terms of
this program, partners will have the option to fund the drilling
and extraction of oil from specific newly drilled wells.
Currently, production is being generated from 8 wells. This
program, in full capacity, will give Force Fuels the ability to
gain access to the oil resources of up to 40 new wells. The new
wells are mostly drilled to the Redd Sands formation at 800 to 900
feet and the balance will be drilled to the Arbuckle at
approximately 2000 feet.
The property is located in Chautauqua and Montgomery Counties
and located in the Chautauqua Arch. To the south, the Central
Oklahoma platform merges with the Cherokee basin of southeastern
Kansas, in which some of the first commercial oil discoveries for
the mid-continent region were made. In the northern part of this
district, as in the Cherokee basin, the emphasis is on Cherokee
(Pennsylvanian) sand reservoirs. Here the strata are dipping
westward so that the depths to these reservoirs become greater from
east to west. In the southern part of the Chautauqua Arch, the
greater part of the production comes from pre-Pennsylvanian
reservoirs.
Oscar Luppi, CEO, said: "We are excited about this program, as
it will give us the ability to work these reserves to their full
potential without placing the full burden of production cost on our
shareholders. The addition of JV Drilling activities to our
in-house program will allow us to maximize production and cash flow
in a timely manner."
More information can be obtained on our website at
www.forcefuels.com or by contacting the company at
info@forcefuels.com
About Force Fuels, Inc. Force Fuels, Inc. operates in the energy
field. Its strategy envisions the inclusion of projects involving
oil, natural gas as well as alternative energy production using
solar and wind power. In the oil and gas field the company is
focusing on the purchase of marginally producing shallow oil wells
which can be optimized with existing technologies; the purchase of
leases with potential for additional drilling in proven producing
areas; and the acquisition of in-house know-how to further optimize
production through stimulation, refurbishing and site
optimization.
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words
"believe," "estimate," "project," "expect" or similar expressions.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to,
adverse economic conditions, intense competition, lack of
meaningful research results, inadequate capital, termination of
contacts or agreements, adverse publicity and news coverage,
inability to carry out research, development and commercialization
plans, loss or retirement of key executives, acceptance of the
Company's current and future products and services in the
marketplace, the ability of the Company to develop effective new
products or programs and receive regulatory approvals of such
products, competitive factors, dependence upon third-party vendors,
and other risks detailed in the Company's periodic report filings
with the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release.
Investor Relations Contacts: Minataur Group
www.minataurgroup.com (617) 379-0777 Company Contact: Force Fuels,
Inc. info@forcefuels.com (949) 783-6723