HENDERSON, Nev., July 18, 2011 /PRNewswire/ -- Fortune Oil and
Gas, Inc.'s (FOGC; http://www.fortuneoilandgascorp.com) Cressent
Energy El Paso joint venture delivers results and solid future
opportunities.
Cressent Energy oil opportunities through the venture seem
promising. The company will seek petrochemical engineer's opinion
to confirm the wells' abilities to produce revenue on an ongoing
basis and into the future. If the reports prove viable reserves in
these oil wells, Cressent will proceed with acquisition on these
leases. This cooperation will foster Cressent's plan for organic
growth without outside investment. Through this cooperation,
Cressent Energy is looking to acquire 40 leases with over 100 wells
present on these properties.
In other news, Alta mining continues to follow its leads into
the silver acquisitions in British
Columbia, Canada. The company wants its followers to
understand that the historical findings in the property's vicinity
are located in "convenient" locations, that is being without
overburden (barred rock areas), and close to infrastructures. The
company is looking at claims surrounding these proven "convenient"
claims/findings. While still close to infrastructures, the areas
scouted by Alta carry light, easily removable overburden, but are
still part of the same geological development.
More updates on both subsidiaries to follow shortly.
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SOURCE Fortune Oil & Gas, Inc.