FormCap Corp. (FRMC.PK) Has High Hopes for Prospect in Permian Basin
FormCap Corp. is a domestic oil and gas exploration and development company. To date, the company has assembled 4,800 acres of oil and gas leases – the Weber City Prospect – located in Curry County, New Mexico. The company's Weber City Prospect is geologically located on the northern flank of the prolific Permian Basin. The initial well within the prospect will be drilled to a total depth of 7,000 feet to test four potentially productive hydrocarbon zones – the San Andres, Clearfork, Wolfcamp, and the Cisco Formation. Based on a modeling of a 'look-alike' existing and productive field – the…