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Expect this oil play to run as they just started drilling for oil 2 days ago!!! Expect financial news and the drilling news any day now.
Oh and it has a super low float to boot meaning a run back to .22 or higher is most likely coming !!!!!
CARSON CITY, Nev., April 20, 2006 (PRIMEZONE) -- Friendly Energy Corp. (Other OTC:FDEG.PK - News) announces a Corporate update regarding the joint venture drill date and other matters. ADVERTISEMENT
The Company's joint venture partner reports that the anticipated drill date of May 3, 2006 is intact and the drill rig arrival is expected as planned.
The company previously reported that through its joint venture partner it has acquired a 50% working interest, with a 44% net revenue interest for the development of the Asher Prospect, in error. The Company has acquired 50% working interest and a 37% net revenue interest.
The Company reports that it continues to complete the required filings to bring the company current under its reporting obligations. It is anticipated that the auditor will have completed the audits and all filings will be filed by May 1, 2006.
``We are pleased that the drill rig is on schedule and drilling will begin as planned,'' states company President Douglas Tallant. ``With the current price of oil reaching a high of over $74.00 per barrel recently, the company is poised to capitalize significantly through the development of these prospects. We anticipate that upon completion of drilling, both the joint venture prospect and the Peach Creek West prospect, the company will have a significantly higher market valuation than the current share price reflects.''
The company continues to lease additional surrounding acreage in the area for further exploratory development.
Friendly Energy is a development stage company in the Oil and Gas Exploration Industry.
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"We anticipate that upon completion of drilling, both the joint venture prospect and the Peach Creek West prospect, the company will have a significantly higher market valuation than the current share price reflects."
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If you look at the chart, it has been accumulating right here for the past month. No where to go but up in my opinion. I like it for several reasons:
1) This stock is unknown.
2) It is a oil play.
3) Just started drilling for oil on May 3rd!!!
4) News expected on both financial and of the drilling.
5) Super low float!
6) Ran heavy to .22 when they stated they are going into a joint venture for OIL!!!
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quote:Originally posted by Repoman75: Are you 2 boys in cahoots on this one?? Be honest.
Neagative Ghost Rider, take a look at the news from a few weeks ago. I stumbled upon this one searching for a good oil play. Everything is coming together, the price, volume, float, and upcoming anticipated news. Drilling just started on May 3rd. Enjoy!
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To view the StockGuru.com Profile for Friendly Energy Corporation , please visit: http://www.stockguru.com/profiles/fdeg/ Friendly Energy Corporation, (FDEG) a growth oriented oil exploration and development company, is poised to take advantage of the current market pricing in the oil and gas industry that have created new opportunities to bring online proven undeveloped reserves, with very little downside risk to the company.
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i tell you what boys. im going to be in south lake tahoe this weekend and carson city is just a few miles away. get me an address so i can go verify drilling and i will post the pics on my website.
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i tell you what boys. im going to be in south lake tahoe this weekend and carson city is just a few miles away. get me an address so i can go verify drilling and i will post the pics on my website.
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quote:Originally posted by blackpearlbenz: i tell you what boys. im going to be in south lake tahoe this weekend and carson city is just a few miles away. get me an address so i can go verify drilling and i will post the pics on my website.
Sweet!!! Not sure of the exact address of the drilling site but I am sure they would be more than willing to give it to you.
Friendly Energy Douglas Tallant, President (702) 953-0411
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"Looks like they expect to drill for 14 days before they hit oil. Since nothing is on time with this company I'll give them 20 days. Either way there is a good chance for an oil strike PR around the 20th of May"
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Honestly? I have no idea... this is like the dot com of oil plays... most of these will fall to the wayside, like the bird flu plays in the winter...
I'm getting sick of oil plays to be honest. Waiting for hurricane season.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM!
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quote:Originally posted by Repoman75: Honestly? I have no idea... this is like the dot com of oil plays... most of these will fall to the wayside, like the bird flu plays in the winter...
I'm getting sick of oil plays to be honest. Waiting for hurricane season.
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I will not get sick of oil plays as they continue to make me MONEY. Between oil and gold, you have to stick with what is running hot and in demand.
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This is from the company's web site, which hasn't been updated in sometime, but it may help you determine a PR date.
The drilling depth to the primary target, the Wilcox pay zone, will be five thousand five hundred feet, (5500 Ft). It is anticipated that the time to drill will be fourteen days from spud, subject to any un-foreseen delays. As previously reported, further analysis has proven to show that the target dome structure is significantly larger than expected, the oil bearing structure analysis indicates a potential reserve up to one million barrels potential (1,000,000) BOE for the Peach Creek West prospect, which will support up to five development wells.
-------------------- skids are for kids
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Besides NDOL, oil plays played themselves out this week. PGPM was the climax, now it's all down hill. It's all frontrunning and pump and dumping now. No substance... I'm telling you, oil plays are over except for the select few that will rise to the top.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM!
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Oil is not over as prices continue to surge. For as long as prices continue to fly up and the demand for it increases, OIL will remain hot and will continue to be that way for some time.
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quote:Originally posted by hawkdriver: This is from the company's web site, which hasn't been updated in sometime, but it may help you determine a PR date.
The drilling depth to the primary target, the Wilcox pay zone, will be five thousand five hundred feet, (5500 Ft). It is anticipated that the time to drill will be fourteen days from spud, subject to any un-foreseen delays. As previously reported, further analysis has proven to show that the target dome structure is significantly larger than expected, the oil bearing structure analysis indicates a potential reserve up to one million barrels potential (1,000,000) BOE for the Peach Creek West prospect, which will support up to five development wells.
If that becomes a reality and they are any where near ONE MILLION barrels, then I would expect this stock to move over $1 per share just based on the value of today's oil.
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well im in for a few thousand. hopefully ill get a chance to check this place out during the weekend. i only live 60 miles away. is there someone out there that actually lives in stateline area?
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I'm in for a few thousand as well. I like what I am seeing after doing the DD and charting this one out. The potential upside is what attracted me to buy here.
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Btw: the last time this stock dipped under 9 cents, it instantly ran up to 12 cents and then continued to 13 cents. .09 is the bottom bounce! I am not going anywhere especially while the company is drilling for black tea.
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i have a call into mr. tallant and hopefully i can get an address for the drill site. i would really like to see the site this weekend.
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