Current Report Filing (8-k)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 27, 2014

FORMCAP CORP.

(Exact name of registrant as specified in its charter)

 

Nevada (State or Other Jurisdiction of Incorporation)

000-28847 (Commission File Number)

1006772219 (IRS Employer Identification No.)

 

50 West Liberty Street, Suite 880 Reno, Nevada (Address of Principal Executive Offices )

89501 (Zip Code)

Registrant’s telephone number, including area code:   [phone]

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[_]

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[_]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[_]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[_]

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

As used in this report, the terms "we", “us", “our", the “Company" refer to Formcap Corp., a Nevada corporation.

 

ITEM 3.02 – PRESS RELEASE

 

FORMCAP EXECUTES DRILLING CONTRACT WITH VAL ENERGY

 

May 27, 2014 – Reno, NV – FormCap Corp. (“FormCap” or “the Company”) (OTCQB: FRMC) announced today that a drilling contract has been executed between Val Energy Inc., Wichita, Kansas and Formcap’s operator; Tiger Oil & Gas LLC, Wichita, Kansas to commence drilling on the 2400 acres of prospective oil and gas leases in Cowley County, Kansas.

 

The well name and number is Lil Bobby #1-28, located in Cowley County, Kansas; land description: 2300’ FSL 330’ FEL, Sec 28-30S-6E at a depth to 3600 feet.

The approximate commence date is July 8^th and subject when the rig is next available.

 

FormCap has acquired a total of 2400 acres of prospective oil and gas leases for a total cost of four hundred and eighty thousand dollars ($480,000) from Kerr and Keta and owns 100% of the Leases (80% net revenue to FormCap; 20% freehold royalty), and will be operator. FormCap will have the option to purchase additional leases in Cowley County from Kerr and Keta under an Area of Mutual Interest (“AMI”), the terms of which are set forth in the Agreement. FormCap is required to drill one (1) well in each of the first two (2) years of the Lease term to maintain its interest in the Leases.

 

Significant quantities of oil and gas have been discovered and produced in Cowley County in recent years. The prospects for oil production are excellent with multi-zone potential for both vertical and horizontal development. In addition to the Mississippian, zones producing in this area include the Layton, Lansing-Kansas City, Bartlesville, Stalnaker and the Arbuckle. Reservoir properties are excellent with good porosity and permeability in thicker accumulations of hydrocarbons. Total depths of approximately 4,000 feet provide drilling time of approximately seven (7) days with completed wells costing about $500,000 per vertical well.

 

FormCap is actively engaged in identifying, financing and developing oil and gas energy resource properties in North America, including the development of the Cowley County, Kansas, Mississippi Prospect in Kansas. FormCap continues to review additional resource properties that combine positive elements of short-term exploration and development costs with high potential for long-term success and financial return.

 

FormCap will have the option to purchase additional leases in Cowley County from Kerr and Keta under an Area of Mutual Interest (“AMI”), the terms of which are set forth in the Agreement. FormCap is required to drill one (1) well in each of the first two (2) years of the Lease term to maintain its interest in the Leases.

 

Additional information can be found at the Company website: www.formcapcorp.com

 

On behalf of the Board of Directors,

FormCap Corp. (OTCQB: FRMC)

 

 

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

None

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: May 27, 2014	FORMCAP CORP
	By: /s/ Graham Douglas
	Graham Douglas
	Chief Executive Officer