Force Energy Corp.
OTC Bulletin Board : FORC

Force Energy Corp.

March 17, 2008 10:14 ET

Force Energy Corp. Announces Binding Letter of Intent to Develop the 4.3 Million Barrel (Oil) Diamond Springs Prospect in Wyoming

DENVER, COLORADO--(Marketwire - March 17, 2008) - Force Energy Corp. (OTCBB:FORC) (hereafter "Force", "the Company") enters into an LOI (letter of intent) to acquire 75% NRI (Net Revenue Interest) in G2 Petroleum's inaugural well to be spudded sometime early summer 2008. G2 Petroleum, of Midland, Texas, has 3300 acres of prospective oil and natural gas property in Freemont County, Wyoming. Geological reports provided to Force Energy provide an estimated recoverable reserve of over 4 million barrels of oil for the Diamond Springs Prospect. Force Energy has negotiated the rights to purchase an additional 25% working interest in the field upon receiving the results of the completion of the first well.


The Diamond Springs prospect is composed of three independent but geologically similar prospective locations located within the 3300-acre track. West of Casper, Wyoming, in the Sweetwater Mountains, this prospect is adjacent to both the Wind River Basin and the Casper Arch in Freemont County and is in close proximity to productive gas and oil fields.

The Northwest, North and West Diamond Springs are shallow drilling prospects, 200' to 1100' in depth, with a possible 72 drilling sights between the three locations based on 40 acre spacing, with stratigraphic pinch-outs of sands of the Cretaceous Frontier, Dakota, and Lakota formations; and, Jurassic Morrison and Sundance formations. G2 Petroleum's Managing Director, Everett W. Gray II feels there is greater potential for further exploration in the deeper formations that may be present within this prospect, but states he would like to exploit the shallower formations initially to take advantage of the record high energy pricing.


This shallow drilling prospect is estimated to be completed within a range of depth 250' to 900' and yield a 75' pay zone in the Frontier Sands (a very prolific oil producing sand). Such a shallow well in this area is initially estimated to cost less than $350,000.00 for turnkey drilling. If successful, the Northwest segment of the Diamond Springs prospect could yield an estimated return of approximately $190 million in gross revenue. These figures are based on the 2 million barrels of recoverable oil present for this particular segment of the Diamond Springs Prospect in conjunction with current oil and gas pricing. Charles Laser, Oil & Gas Consultant further noted from C. P. Abrassart's independent Geologic report that not including the natural gas potential, the oil potential reserves exceed 4.3 million barrels of oil for the Diamond Springs prospect. That is why this is a very attractive oil and gas prospect where millions of barrels of oil have been produced from less than 1000 feet.

"C. P. Abrassart, a 3rd party geologist reporting on this prospect, has compared the stratigraphic trap within this location to that of the nearby Cottonwood Creek Field (Big River Basin) which has an estimated reserve of over 60 million barrels of oil," stated Force CEO, Rahim Rayani, adding, "We feel fortunate to have brought this prospect into our now growing list of prospects as many stratigraphic traps with significant reserves have been successfully drilled in the Rocky Mountain area."

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. Force Energy Corp. has entered into an LOI to drill and develop the Diamond Springs prospect located within the Wind River Basin. The Company's shares are publicly traded on the NASDAQ OTCBB under the ticker symbol FORC.

On behalf of the Board of Directors


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.

Contact Information