FormCap (FRMC.PK) Negotiates Option Agreement on New Mexico Prospect
FORMCAP CORP (PINKSHEETS:FRMC) announced today that it has entered into an Option Agreement with Morgan Creek Energy Corp. to acquire up to a 50% Working Interest (40.75% Net Revenue Interest) in Morgan Creeks´ approximately 13,000 acre entire Frio Draw Prospect located in Curry County, New Mexico. Under the terms of the agreement, FormCap is required to drill and complete two mutually defined targets on the acreage to earn its interest. Following the initial two wells, Morgan Creeks´ management and land team will work with FormCap to establish additional targets on the Frio draw based on technical data and drill results.…