SOURCE: FormCap, Inc

March 29, 2011 07:30 ET

FormCap Corp. Signs Farm-Out Agreement for Oil and Gas Exploration in Alberta

RENO, NV--(Marketwire - March 29, 2011) -  FormCap Corp. (PINKSHEETS: FRMC), an emerging oil & gas exploration company, is pleased to announce that on March 16, 2011, the Company signed a Farm-out Agreement for oil and gas exploration in the Peco Area of Alberta. The Farm-out Agreement between FormCap Corp. and a private Alberta Corporation is comprised of a Seismic Option, a Farm-out and a Participation clause, each of which contractually set out the terms that will underpin FormCap Corp.'s exploration obligations and working interest in the project. The Agreement stipulates a commencement date for the shooting of a 3D seismic program on the Farm-out Lands not later than June 1, 2011. For more information on FormCap Corp., please see:

Mr. Graham Douglas, President and CEO, stated, "We are pleased to have signed this Farm-out Agreement, which covers land in an area where a number of exploration successes have been made in the past. As stipulated by the Agreement, we plan to expeditiously execute an exploration program that will include a 3D seismic component. Looking forward, our goal is to build on this exploration strategy, FormCap Corp.'s first foray into Alberta."

About FormCap Corp.
FormCap Corp., a reporting issuer that is listed on the Pink Sheets under the symbol: FRMC.PK, is an emerging exploration and development company in the oil & gas sector. FormCap's mandate is to seek out highly prospective oil and gas properties for acquisition, exploration and development. Accordingly, FormCap Corp. will continue to aggressively pursue the acquisition of additional oil and gas properties in renown producing regions within continental North America. For more information contact us at 

Safe-Harbor Statement
Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act''), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may,'' "would,'' "will,'' "expect,'' "estimate,'' "anticipate,'' "believe,'' "intend,'' and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

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