Current Report Filing (8-k)
February 06 2014 - 10:44AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): February 6, 2014
FORMCAP CORP.
(Exact name of registrant as specified in its charter)
Nevada
(State or Other Jurisdiction of Incorporation) |
000-28847
(Commission File Number) |
1006772219
(IRS Employer Identification No.) |
50 West Liberty Street, Suite 880
Reno, Nevada
(Address of Principal Executive Offices ) |
89501
(Zip Code) |
Registrant’s telephone number, including area code:
(775) 285-5775
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
As used in this report, the terms "we", “us", “our",
the “Company" refer to Formcap Corp., a Nevada corporation.
ITEM 3.02 – PRESS RELEASE
FORMCAP MAKES OIL LEASE PAYMENT TO ACQUIRE COWLEY COUNTY
KANSAS PROSPECT
For Immediate Release
February 6, 2014 – Reno, NV – FormCap Corp. (“FormCap” or
“the Company”) (OTCQB: FRMC) announced today that it has made a payment in the amount of US$75,000.00 to Keta Oil &
Gas and Kerr Energy pursuant to the purchase of oil and gas exploration and development leases in Cowley County Kansas. Formcap
will pay Kerr and Keta two hundred dollars ($200.00) per acre for up to 2400 acres of Leases, at a cost not to exceed a total of
four hundred and eighty thousand dollars ($480,000) (the “Purchase Price”) unless agreed otherwise by the Company.
FormCap has paid Kerr and Keta two hundred thousand dollars ($200,000) to February
6, 2014. Formcap is currently evaluating a specific block of 875 acres (from the 2400 acre total) of prospective oil leases to
acquire from Kerr and Keta. FormCap will own 100% of the Leases (80% net revenue to FormCap; 20% freehold royalty), and will be
operator. FormCap will have the option to purchase additional leases in Cowley County from Kerr and Keta under an Area of Mutual
Interest (“AMI”), the terms of which are set forth in the Agreement. FormCap is required to drill one (1) well in each
of the first two (2) years of the Lease term to maintain its interest in the Leases.
FormCap will also have the option to participate in the drilling of up to six (6)
exploration or development wells on lands currently owned by Keta and Kerr under terms set forth in the Agreement.
Significant quantities of oil and gas have been discovered and produced in Cowley
County in recent years. The prospects for oil production are excellent with multi-zone potential for both vertical and horizontal
development. In addition to the Mississippian, zones producing in this area include the Layton, Lansing-Kansas City, Bartlesville,
Stalnaker and the Arbuckle. Reservoir properties are excellent with good porosity and permeability in thicker accumulations of
hydrocarbons. Total depths of approximately 4,000 feet provide drilling time of approximately seven (7) days with completed wells
costing about $500,000 per vertical well.
FormCap is actively engaged in identifying, financing and developing oil and gas
energy resource properties in North America, including the development of the Cowley County, Kansas, Mississippi Prospect in Kansas.
FormCap continues to review additional resource properties that combine positive elements of short-term exploration and development
costs with high potential for long-term success and financial return.
Graham Douglas, CEO of FormCap reports that “FormCap is excited about the
potential of its relationship with Kerr and Keta in Cowley County, Kansas as there are tremendous opportunities to produce commercial
light oil and gas in an environment of high crude oil prices and low finding and developing costs.”
Additional information can be found at the Company website: www.formcapcorp.com
On behalf of the Board of Directors,
FormCap Corp. (OTCQB: FRMC)
Signed: ‘Graham Douglas’
Item 9.01 |
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Financial Statements and Exhibits. |
(d) Exhibits.
None
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 6, 2014 |
FORMCAP CORP |
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By:
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/s/ Graham Douglas |
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Graham Douglas |
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Chief Executive Officer |
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