Current Report Filing (8-k)
March 17 2014 - 4:55PM
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): March 17, 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 COMPLETES 100% ACQUISITION
OF COWLEY COUNTY OIL LEASES
“Acquisition of 2400 Acres Completed
Drilling to Commence Q2-2014”
March 17, 2014 – Reno, NV – FormCap Corp. (“FormCap”
or “the Company”) (OTCQB: FRMC) announced today that it has completed the acquisition of 2400 acres of prospective
oil leases in Cowley County, Kansas.
Graham Douglas, CEO of FormCap reports that “its partners
Kerr and Keta, technical advisors and operator will immediately map out decisions on drill site locations with an anticipated first
drill during Q2-2014. “There are tremendous oil and gas opportunities to produce commercial light oil and gas in an environment
of high crude oil prices and low finding and developing costs.”
FormCap has acquired a total of 2400 acres of prospective
oil and gas leases for a total cost of four hundred and eighty thousand dollars ($480,000) from Kerr and Keta and owns 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.
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.
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 |
|
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: March 17, 2014 FORMCAP
CORP
By: /s/ Graham Douglas
Graham Douglas
Chief Executive Officer
Formcap (CE) (USOTC:FRMC)
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