1st NRG Corp. -- Corporate Update
January 22 2014 - 9:25AM
Marketwired
1st NRG Corp. -- Corporate Update
DENVER, CO--(Marketwired - Jan 22, 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 activity has been centered upon 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 has the potential to expand its activities
into one of North America's most exciting shale plays through a
development of prospective acreage in SE Ohio encompassing
approximately 7,000 acres.
1st NRG Corp. is pleased to announce it has completed the
drilling phase of the Clabaugh Federal 42-15-5376 WA, the first
well in a planned eight well development drilling program. 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. The
Company currently holds a 100% working interest in the well and the
other seven wells in the current development drilling
program. The Company has begun completion work and anticipates
first flow of natural gas in Q1 2014.
In SE Ohio, the initial location selection and the drilling plan
for the test well has been extended 60 days to allow for additional
due diligence. The Company now expects the test well of about
6,000 feet in depth to be drilled in the second quarter of
2014.
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
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