Fomack Energy Inc.
TSX VENTURE : FMG.A

December 05, 2007 12:16 ET

Fomack Energy Inc. Provides Corporate Update

CALGARY, ALBERTA--(Marketwire - Dec. 5, 2007) - Fomack Energy Inc. (TSX VENTURE:FMG.A):

CURRENT STATUS

Fomack Energy Inc. ("Fomack" or the "Company") is awaiting the results of its application for the revocation of the Cease Trade Order ("CTO") issued by the Alberta Securities Commission November 8th 2002, Following revocation of the CTO Fomack intends to apply for re-listing on the TSX Venture Exchange.



At this time Fomack is involved in the following operations, namely

(a) Commitment to participate immediately in the workover of the ACL ET AL
Kaybob 16of23 Oil Well, with the possibility of Fomack increasing its
working interest therein; and
(b) Participating in the drilling and completion of a Gas Well (Trilogy ET
AL 102 Kaybob 4 of 23) cased October 17th 2007; and
(c) Pursuing with Encana and Penn West, the completion and tie-in of our
14 of 31 Brazeau Rock Creek Well; and
(d) If opportunity available to participate in projects with active
successful joint venture partners.


PERSONNEL ADDITIONS

Fomack is pleased to announce the appointment of Christopher Yee as a Director effective the Company's most recent AGM. Mr. Yee has been a practicing Chartered Accountant since 1982 and brings his extensive experience to the Fomack Board in, inter alia, initial listing and subsequent funding as well as, securities related expertise in connection with listings on the TSX Venture Exchange.

PROPOSAL FOR FUNDING

It is the Company's intention to use three sources of funding ( or a combination thereof) to finance its capital expenditure program; namely



(i) internally generated cash flow from operations; and/or
(ii) to undertake one or more Private Placements on a flow through basis;
and/or
(iii) equity financing


ON BEHALF OF THE BOARD OF DIRECTORS OF FOMACK ENERGY INC.

Mr. Calvin D. Oughton, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy this news release.

Contact Information

  • Fomack Energy Inc.
    Mr. Calvin D. Oughton
    President and CEO
    (403) 265-1198
    (403) 266-7360 (FAX)
    Email: calou01@telus.net