FormCap Corp. (FRMC.PK) Has a Strong Foothold in the Permian Basin
FormCap Corp. is a junior exploration and development company in the oil and gas sector. In October 2009, the company announced the acquisition of 4,900 acres of oil and gas leases, all with primary terms of five years, for a cost of only $250,000. The leases, together called the Weber City Prospect, are located in eastern New Mexico on the northern flank of the Permian Basin. The Permian Basin is well known to oil and gas investors in the United States. It is one of the most prolific oil and gas producing areas of the entire world. Through the year…