Force Energy Corp. Acquires 50% Working Interest in the Hayter Prospect
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DENVER, COLORADO, Oct 29 (MARKET WIRE) --
Force Energy Corp. (OTCBB: FORC)(FRANKFURT: FC2) (hereafter "Force", "the
Company"), announces that the Company has acquired a total 50% working
interest in the Hayter Well (10D Hayter 10-8-40-1 W4M) located in
Alberta, Canada. The well was spudded in January 2007 and drilled to a
total depth. The well logs revealed a gas zone of 4 to 5 meters of
thickness in a shallow zone and a heavy oil pay zone of 2 meters of
thickness in the target Dina Sand zone. Although the results in the Dina
sand were lower than expected and a decision was made to case the well in
2007, at today's prices, the Hayter could produce an economic well.
County Line Energy completed a $650,000 3D seismic program covering nine
sections of land in pursuit of a potential multi well heavy oil drilling
opportunity. The geological model was based on interpretation from a
previous well, which produced 16,000 barrels of heavy oil. The seismic
program was designed to determine whether the structure found in this
well existed to a larger extent on the subject property. The 3D seismic
revealed an extremely large anomaly with similar characteristics. The
nature of this large anomaly suggested that a multi well drilling
opportunity might exist. Although this well will likely be completed as a
producing well the results of the drilling have negated the ultimate
potential of the Hayter property.
About Force Energy Corp.
Force Energy Corp. is an Oil & Gas Exploration and Development Company
based in Denver, CO with a focus on Wyoming. Using a geology-based
methodology, the US Geological Survey estimate a mean of 2.4 trillion
cubic feet of undiscovered natural gas and a mean of 41 million barrels
of undiscovered oil in the Wind River Basin Province of Wyoming. Force
Energy Corp. has acquired 75% working interest in the Diamond Springs
Prospect located within this prolific area. The Company's shares are
publicly traded on the OTCBB under the ticker symbol FORC.
On behalf of the Board of Directors
FORCE ENERGY CORP.
Legal Notice Regarding Forward-Looking Statements
Legal Notice Regarding Forward-Looking Statements in this news release
that are not historical facts are forward-looking statements that are
subject to risks and uncertainties. Forward-looking statements are based
on current facts and analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determined, and
assumptions of management. Forward looking statements are generally, but
not always, identified by the words "expects", "plans", "anticipates",
"has", "believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar expressions
or that events or conditions "will", "would", "may", "can", "could" or
"should" occur. Information concerning oil or natural gas reserve
estimates may also be deemed to be forward looking statements, as it
constitutes a prediction of what might be found to be present when and if
a project is actually developed.
Actual results may differ materially from those currently anticipated due
to a number of factors beyond the reasonable control of the Company. It
is important to note that actual outcomes and the Company's actual
results could differ materially from those in such forward-looking
statements. Factors that could cause actual results to differ materially
include misinterpretation of data, inaccurate estimates of oil and
natural gas reserves, the uncertainty of the requirements demanded by
environmental agencies, the Company's ability to raise financing for
operations, breach by parties with whom we have contracted, inability to
maintain qualified employees or consultants because of compensation or
other issues, competition for equipment, inability to obtain drilling
permits, potential delays or obstacles in drilling operations and
interpreting data, the likelihood that no commercial quantities of oil or
gas are found or recoverable, and our ability to participate in the
exploration of, and successful completion of development programs on all
aforementioned prospects and leases. Additional information on risks for
the Company can be found in the Company's periodic filings filed from
time to time with US Securities and Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United
States. The securities mentioned herein have not been, and will not be,
registered under the United States Securities Act of 1933, as amended
(the "Securities Act"). They may not be offered or sold in the United
States (as defined in Regulation S under the Securities Act), except
pursuant to an exemption from the registration requirements of the
Securities Act.
Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission permits oil and gas companies, in their filings with
the SEC, to disclose only proved reserves that a company has demonstrated
by actual production or conclusive formation tests to be economically and
legally producible under existing economic and operating conditions. We
use certain terms such as estimates of a mean of undiscovered natural gas
and estimates of a mean of undiscovered oil that the SEC's guidelines
strictly prohibit us from including in filings with the SEC. U.S.
Investors are urged to consider closely the disclosure in our Form 10-K
and other periodic reports filed by us from time to time with the SEC,
available from us at www.sec.gov. You can also obtain this form from the
SEC by calling 1-800-SEC-0330.
Contacts:
Investor Relations:
Force Energy Corp.
Rahim Rayani, President & CEO
1-866-953-FORC (3672)
Email: ir@forceenergycorp.com
Website: www.forceenergycorp.com
Copyright 2009, Market Wire, All rights reserved.
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