1st NRG Corp - Corporate Update March 2014
March 24 2014 - 8:45AM
Marketwired
1st NRG Corp - Corporate Update March 2014
DENVER, CO--(Marketwired - Mar 24, 2014) - 1st NRG Corp. (OTC
Pink: FNRC) (PINKSHEETS: 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 recent
activity has been centered on 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
is expanding its activities into one of North America's most
exciting shale plays participating in a development of prospective
acreage in SE Ohio encompassing approximately 7,000 acres.
In Ohio, the initial due diligence and cure periods have
concluded with the Company and its operating partner purchasing the
initial 40 acre drill site for the vertical test well. The
development agreement calls for the vertical test well to be
drilled within the next 90 days. Unless extended by agreement,
the test well will be drilled through the Utica Shale approximately
6,500 feet in depth. 1st NRG Corp holds a 20% working interest
in the development and is carried through the vertical test
well.
We jump started our 2014 development program in Wyoming drilling
the Clabaugh Federal 42-15-5376 WA well to 1680' in December
2013. We will continue the 2014 drilling program as conditions
allow. We are still waiting for approval of the ARID™ Aquifer
Recharge Injection System and installation of electricity. The
ARID tool was developed in order to solve the problems and costs
associated with the surface discharge of CBM /CSNG produced
water.
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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