Corporate Update for First Petroleum First Petroleum & Pipeline Inc. (OTC: FPPL) has now secured the rights to eleven Federal Oil & Gas Leases in the States of Wyoming, New Mexico and Colorado. The Company chose these target prospects based on proven reserves and drilling success of fellow exploration firms in these Basin Regions. First Petroleum's goal is to now focus on potential drill programs and development of the most promising lease properties in its portfolio.
Some of the company's most encouraging prospects include the Powder River Basin. Reserves of Coal Bed Methane in the Powder River Basin are estimated at 31.8 trillion cubic feet. Nearly 100 wells are being drilled each week, and the gas companies say the entire 8 million-acre basin could have 50,000 to 100,000 producing wells before they are finished. This is the largest onshore natural gas play in North America within the last ten years.
The Uinta-Piceance Basin straddling the States of Colorado and Utah (with an estimated 21 trillion cubic feet of gas and 60 million barrels of oil) make it a prime target area as well. Nearly every major producer and pipeline company in the U.S. is active within the State of Colorado; they include Amoco, Conoco, and Unocal among others.
First Petroleum believes that future developments in their target regions could give the resources necessary to build the dedicated management team and to pursue further strategic acquisitions of proven or semi-proven exploration targets. The Company will remain focused on this strategy.
First Petroleum and Pipeline Inc.
Headquartered in New York, First Petroleum is an independent oil and gas exploration and development company with a focus on its Colorado, New Mexico and Wyoming properties. The Company's goal is to apply advanced technologies to systematically explore and develop its oil and natural gas opportunities. First Petroleum focuses its activities where expertise can be used efficiently to maximize returns on invested capital by reducing drilling risk and enhancing its ability to economically grow reserves and production volumes.
-------------------- Get that dip Posts: 156 | From: Australia | Registered: Jan 2006
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Just as a matter of DD, check out WYSK... same CEO as FPPL, seems to be a company that does exactly the same thing in fact, except it trades in the .02-.04 range recently... just some food for thought, not sure why these are separate companies or what's really the difference between them...
-------------------- Can I have some money now?
- DC Posts: 488 | From: Northern California | Registered: Dec 2005
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Grabbed me some of this on Friday now let it go,looks to be a decent company and play!!
Posts: 116 | From: Davison MI | Registered: Oct 2005
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(ii) There are Five Hundred Million (500,000,000) shares of Common Stock with $.001 par value authorized. There is no preferred stock authorized. (iii) There are 398,896,000 shares issued and outstanding. (iv) There are approximately 312,559,670 shares in the public float. (vi) The Company has approximately 126 shareholders, of which one is CEDE & CO., representing various shareholders in the public float. There are no preferred shares outstanding. The Company has issued no authorized preferred shares. There are 82,730,500 restricted shares. Number of shares outstanding as at the quarter ended Oct 31, 2005: 398,896,000 In July, 2004, the Company issued 3,000,000 shares, under Rule 504. Item (vii): The name and address of the transfer agent. PacWest Transfer, P.O. Box 393 360 Main St. 2nd Floor Washington VA, 22747 Ph 540 675 3129 Item (viii): The nature of the issuer’s business. Resource Company engaged in the exploration, development and production of oil and gas properties. (A) Business Development. First Petroleum (FPPL) is a growing oil and gas company actively engaged in the acquisition and development of oil and gas properties in New Mexico, Colorado and other U.S. Midwest States. First Petroleum was renamed in March 2005. The Company is currently pursuing a diverse portfolio of high value, low risk energy projects such as opportunities in the San Juan Coalbed Methane play area, Colorado’s Piceance and Denver Basins and the prolific oil and gas fields of the Permian Basin region in addition to Wyoming’s Powder River Basin area. First Petroleum & Pipeline Inc. is a public company located in New York City and trades under the symbol of FPPL. The Company’s ability to generate profits and accomplish its business strategy is dependent upon its ability to obtain additional financing. There can be no assurance that the Company will be able to obtain additional funding, and if available, that the funding will be obtained on terms favorable to, or affordable by, the Company. The Company’s management is continuing to develop the Company’s operations around its business plan while simultaneously exploring other funding options including private placements.
Dan Moar - holds 16.73% (66,730,500 shares) of issued stock.
-------------------- Get that dip Posts: 156 | From: Australia | Registered: Jan 2006
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Looking for Major run here. Full Blown reversel has started.
One white soldier leads to two white soldiers which leads to three white soldiers which leads to ka-freakin-boom
Posts: 310 | From: Idaho | Registered: Jun 2004
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quote:Originally posted by searchingforpennies: Excellent Chart this thing looks ready to blow!!!
That sure is a good looking chart.. it looks primed and ready! Thanks for the heads-up!
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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dont know mutch about this company but L2`s look to be setting up for a gap up. FYI all who are in. GLTA.
Posts: 2503 | From: connecticut | Registered: Mar 2005
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what is the current ask price and bid? looking to buy some after this pullback
Posts: 1065 | From: switzerland | Registered: Mar 2005
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seems to me 36 is the bottom and the only way from here is up again...close to 52w low and lots of upwards potential... we just need some kind of pr now
Posts: 1065 | From: switzerland | Registered: Mar 2005
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