ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

FNRC First NRG Corporation (CE)

0.000001
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
First NRG Corporation (CE) USOTC:FNRC OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.000001 0.000001 0.000001 0.000001 125,000 01:00:00

1st NRG Corp. Announces New Drilling and Production Revenues for CBM Properties In Wyoming

21/10/2013 11:30am

OTC Markets



Denver,
Colorado  (October 21, 2013)    
1st
NRG Corp. (OTC Pink: FNRC) , an exploration and production company which currently
develops and produces coal bed methane reserves (CBM) will begin drilling of
CBM properties in Wyoming. 



1st
NRG Corp. (FNRC) has initiated a plan of development encompassing the drilling
and completion of eight Federally permitted locations in Wyoming?s Powder River
Basin. FNRC holds 100% of the working interest of these locations before
payout, and 66% after payout.  Permits from
the State of Wyoming are currently being prepared for State approval.  Our current CBM properties are characterized
by what we believe to be low geologic risk as well as a repeatable development
opportunity.  The planned development is
offset development wells to a field which encountered developed coal seams in
the Warner, Upper and Lower Smith, Wyodak/Anderson Lower, Gates and Wall
formations. Successfully instituting these drilling plans would significantly
increase FNRC production revenues. 



Market
conditions for natural gas have improved significantly.  The July 2013 Energy Information
Administration (EIA) information reported average daily consumption of natural
gas in the United States from January 2013 through July 2013, averaged 72,094
bcfd which was an increase of 1.25% when compared to the same period in 2012
when average daily consumption was 71,203 bcfd. 
During these same periods, average daily production of natural gas in the
United States increased only 1.05% from 65,485 bcfd in 2012 to 66,178 bcfd. The
tightening natural gas market is also reflected in higher commodity
prices.   For comparison purposes, 1st
NRG Corp. (FNRC) received an average price of $3.36/mcf compared to $2.12/mcf
during these same periods ending July 2013 and 2012 respectively.  Moving the natural gas to the market
(gathering, fuel and taxes) FNRC incurred an average transportation cost, before
operating expenses, of $1.31 and $1.05/mcf during these same periods ending in
July 2013 and 2012. 



Please
visit http://1stnrg-corp.com



Contact:

Brad
Holmes

Energy
IR: b_holmes@att.net



(713)
654 4009



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.


1 Year First NRG (CE) Chart

1 Year First NRG (CE) Chart

1 Month First NRG (CE) Chart

1 Month First NRG (CE) Chart

Your Recent History

Delayed Upgrade Clock