Force Energy Corp.
OTC Bulletin Board : FORC
October 08, 2008 09:15 ET
Force Energy Corp. Provides Update on Diamond Springs Prospect
DENVER, COLORADO--(Marketwire - Oct. 8, 2008) - Force Energy Corp. (OTCBB:FORC) (hereafter "Force", "the Company"), is pleased to provide the following update on the Diamond Springs Prospect.
Force Energy Corp. retained the services of North Coast Resource Development (NCRD) in August of this year to advance the operations of the Diamond Springs Prospect. Since, the Company has hired the services of Hawkeye Geosensing to provide satellite imagery and high-resolution maps for the purpose of due-diligence, drill site selection and to minimize risk. Hawkeye believes the maps and information should be ready in the coming days.
Also with the help of NCRD, the Company has signed an agreement with Continental Production Company, LLC to perform all drilling and field operations of the Diamond Springs Prospect. Continental is a Wyoming based company committed to responsible and economic operations in the Rocky Mountain Region. Continental Production Company was formed in 1995 and brings over 160 years of combined Oil & Gas production experience into the field for Force Energy.
"We have made excellent progress in two months!" said Rahim Rayani, CEO of Force Energy Corp. "The pieces of the Diamond Springs puzzle are coming together and we look forward to the results and mapping by Hawkeye Geosensing to plan our upcoming drill program."
Diamond Springs Prospect
The Diamond Springs Prospect comprises 3,300 acres of prospective oil and natural gas property in Fremont County, Wyoming. Independent geologic work has concluded that the property has the potential for 4.3 million barrels of oil, with revenue potential of over $400 million at current pricing, with most expected to occur in shallow wells at depths of less than 1,000 feet.
About Force Energy Corp.
Force Energy Corp. is an Oil & Gas Exploration and Development Company based in Denver, CO with a focus on Wyoming. Using a geology-based methodology, the US Geological Survey estimate a mean of 2.4 trillion cubic feet of undiscovered natural gas, a mean of 41 million barrels of undiscovered oil, and a mean of 20.5 million barrels of undiscovered natural gas liquids in the Wind River Basin Province of Wyoming. They further estimate a mean of 84.6 trillion cubic feet of undiscovered natural gas, a mean of 131 million barrels of undiscovered oil, and a mean of 2.6 billion barrels of undiscovered natural gas liquids in the Southwestern Wyoming Province. Force Energy Corp. has entered into LOI's to drill and develop two prospects located within each of these prolific areas. The Company's shares are publicly traded on the OTCBB under the ticker symbol FORC.
On behalf of the Board of Directors
FORCE ENERGY CORP.
Legal Notice Regarding Forward-Looking Statements
Legal Notice Regarding Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in filings on Edgar of other junior oil and gas exploration companies with the US Securities and Exchange Commission.