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.