This is on 4 of my short lists...looks real good....Am I blowing it with my DD? It is nowhere to be found on this board
Falcon Energy, Inc. Announces 100% Acquirement of Mongolian Mineral Exploration Licenses
By BusinessWire Last Update: 6/9/2006 4:00:04 PM Data provided by
VANCOUVER, British Columbia, Jun 09, 2006 (BUSINESS WIRE) -- Falcon Energy, Inc. (Pink Sheets:FCYI) is pleased to announce that it has fully acquired the exploration licenses for five mining properties in the mineral rich region of Mongolia. Management felt that the opportunity presented by these properties was significant enough to forgo a planned participation by a second resource company. These licenses will be held for a minimum of three years and grant Falcon Energy Inc. access to the mineral rights for the licensed properties.
Mongolia has a wide variety of mineral resources. As of 1998, about 88% of the country had been geologically mapped but only 20% of the country's landmass had been licensed for exploration and exploitation.
Falcon Energy's interest in the region is driven in part by the anticipation of deploying modern prospecting methods to an area that abounds in both base and precious metals. Exploitable mineral resources found in the area in which the licenses are held include: Gold, base metals such as Copper, Molybdenum, Lead and Zinc as well as Fluorite and Uranium. (see detailed maps at www.falconenergyco.com)
This media release may contain forward-looking statements regarding, but not limited to, management, market potential, distributor success, market size, international sales, marketing, future events and performance of the Company which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.
SOURCE: Falcon Energy, Inc.
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
| IP: Logged |
posted
Falcon Energy, Inc. Initiates Detailed Study For Work Program On Mongolian Properties
By PrimeZone Last Update: 5/26/2006 3:56:47 PM Data provided by
VANCOUVER, British Columbia, May 26, 2006 (PRIMEZONE via COMTEX) -- Falcon Energy, Inc. (Pink Sheets:FCYI) is pleased to announce that it will be initiating a detailed study for two of the properties for which it holds exploration licenses in Mongolia. The studies will be in preparation for a work program on the properties. Falcon Energy Inc. will seek to engage a geological team to study its properties and make recommendations for the commencement of a work program. Both properties hold great promise for the discovery of significant deposits of Uranium.
The first property is the Huld License Area (license 9997X)
The Huld license area is located on the territory of Dashbalbar soum of Dornot province. This property is situated 650 km NE of Ulaanbaatar and 170 km North of Choibalsan /province center/ and 50 km NE of the significant Mardai Uranium deposit. Production of Uranium ore from the Mardai deposit has ranged up to 195 tons annually.
The second property is the Har Tolgoi License Area (license 9996X)
The license area is located at the joint part of Tuvshinshiree, Monhhaan and Uubayan soums of Suhbaatar province. The Har Tolgoi license area comprises a total of 12,319 hectares.
With the current bull market for Uranium, a number of companies are currently very active in Uranium exploration. The Western Prospector's team is focused on the a uranium project located in North-Eastern Mongolia with the 2006 exploration program, budgeted at US$16 million. UGL Enterprises also has holdings and great interest in the area.
Current major Uranium discoveries in Mongolia include the Dornod Deposit which has 40,128,000 pounds grading 0.118%, 31,664,000 pounds grading 0.177% and 26,349,000 pounds grading 0.236% and the Gurvanbulag project (Western Prospector) which has a reported resource of 22,679,160 pounds grading 0.245% and an additional 19,183,616 pounds grading 0.135% (source: National Bank report February 25, 2005).
Despite uranium spot prices in 2000 that touched lows of less than US$7.00 per pound for U3O8, the spot price has since increased to over US$37.00 per pound (January 30, 2006), and the long term Uranium market outlook remains positive with increased consumption, and future downtrend of secondary uranium sources.
Uranium Deposits in Mongolia
Soviet and Mongolian geologists began exploring for uranium in Mongolia in the 1940s. From 1967 to 1988 more systematic exploration for uranium was undertaken, and four major uranium deposits were defined in Mongolia, the Priargun, Gobi-Tamtsag, Khentii-Daur, and Northern Mongolian uranium provinces. Uranium deposits of economic value were discovered in the Dornod, Gurvanbulag, and Mardai areas of eastern Mongolia and the Kharaat area of southern Mongolia. The proven Uranium resources of Mongolia in these deposits are about 62,000 metric tons,
This media release may contain forward-looking statements regarding, but not limited to, management, market potential, distributor success, market size, international sales, marketing, future events and performance of the Company which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.
This news release was distributed by PrimeZone, www.primezone.comPosts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
| IP: Logged |
posted
Excerpt From Streetinvesting.com's Most Recent Newsletter:
George W. Bush previously announced, in his State of the Union address, that he plans to reduce U.S. dependency on foreign oil, especially the politically charged regions of the Middle East. According to U.S. Energy Secretary Sam Bodman, Canada is U.S.'s largest and most reliable supplier of imported oil, and the Alberta oilsands are very important to the future of U.S. oil supply and energy security. With the demand of oil and gas rising to new highs, the Alberta oilsands have captured the attention of many investors both retail and institutional.
Now there are plenty of talks about the Alberta oilsands such as new technology being created to help reduce costs and increase production. Great.
But let's take a look at the oilsands by the numbers: -- In 1997, oilsands capital spending was at $1.9 billion. In 2004, they were $6.2 billion.
-- In 1996, industry revenue was $4 billion. In 2004, it was 14.9 billion.
-- In 1995, value of crude oil exports from Alberta was $7.1 billion. In 2004, it was $20.4 billion.
Now lets take a look at some forecasted numbers: -- As of April 2005, 33,000 jobs were created by oilsands developments. By 2012, this number is expected to increase to 102,000.
-- In 2004, output for daily oilsands production was 1 million barrels. By 2015, it is expected to be 2.7 million.
-- In 2004, Canada ranks No. 9 in world crude oil production. By 2015, it is expected to be at the No. 5 spot. Again, thanks to oilsands production.
Now here are some of the most interesting figures: -- Canada has 179 billion barrels of crude oil reserves, making them 2nd in the world behind Saudi Arabia's 259 billion barrels.
-- Of the 179 billion barrels of crude oil reserves, 175 billion barrels belong to the oilsands.
-- United States has only 22 billion barrels of crude oil reserves.
Now I am not normally a numbers-guy but I think these figures speak for themselves. That's why my current focus is on oil and gas, in particular companies with projects in Alberta.
So where does that lead us?
Falcon Energy Inc. (FCYI)
One of Falcon Energy Inc.'s (The Company) existing projects is the Richmount Westlock well in Alberta Canada which has an initial production rate estimated to be 500,000 cubic feet of gas per day. Management anticipates that production from the Westlock well will be increased in four months after a review of reservoir data from the initial production records. The company trades on the over the counter pink sheets.
A second Falcon Energy Inc. Alberta project is the Sylvan Lake drill program. The initial well is a 7,200- foot Peskisko Sand test that is prospective for oil and gas. The company has estimated that each development well has probable production of 150 barrels of oil per day and 750 million cubic feet gas per day with reserves in excess of 1 billion cubic feet gas and 300,000 barrels of oil. The average well in the Sylvan Lake Field has produced 500 barrels of oil per day with over one million cubic feet gas per day. If successful, the company intends to drill up to 4 more wells on these land sections.
The Sylvan Lake oil and gas field was discovered in the late 1950's and has produced over 40 million barrels (mbbls) of high quality crude oil and 50 billion cubic feet (bcf) of associated natural gas. Production continues steadily today and many large companies pay benefits to their shareholders based in part on the resources found in the Sylvan Lake area.
This prospect has the potential to encounter both oil and gas in 5 of what are called Mississippian rock formations. Areas with certain similar particular geological features are common throughout Alberta and account for billions of barrels of reserves. The Company and their partners interpret their prospect as an "island" of oil and gas much the same as the famous "N" pool of the Sylvan Lake area that is one of the main pools in production. If successful in discovering the anticipated isolated remnant pool, they may have room to drill upwards of four or five other wells in the same area.
Each development well has probable production of 150 barrels of oil per day and 750 million cubic feet gas per day with reserves in excess of 1 billion cubic feet gas and 300,000 barrels of oil. There are also four other pay zones that are prospective for gas.
One major benefit to the way this property was discovered and explored is that infrastructure costs will be minimal because of the existing productions on the immediate area. This area has been developed for both oil and natural gas over the past forty-five years. Accordingly a multitude of gas gathering and processing facilities and oil transportation facilities have been constructed. A major gas processing facility is located within two miles of the project with gathering system lines with one half a mile from the proposed drilling location. This gas processing facility also has oil pipeline access for the transportation of raw oil product to the main delivery terminals north of Red Deer, Alberta. Accordingly, trucking costs would be minimal to get oil product to the transportation system.
Now I know much of this may sound like just a bunch of numbers and facts. But those are numbers and facts that I like. Again, I am not a huge numbers guy, but in the past year, I have seen many companies prosper from having projects in Alberta and have seen many shareholders reap the rewards. If Falcon Energy Inc. can follow in the steps of the other successful companies, we may see some very interesting things.
So what exactly does that mean?
Well, analysts have their own take on things. Truthfully speaking, the price of oil has been steadily increasing for the past few years and it has taken oil and gas plays with it. I think that there needs to be a balance in life and a balance in the markets. Oil and gas companies will continue to prosper as long as there's a need for oil and gas - and there is definitely a need for oil and gas. But with so much commotion going on about the price of oil and its influence on oil and gas plays, doesn't that make you wonder?
Instead of putting all of our eggs into one basket by playing with oil and gas companies, why don't we look into something that's not so easily influenced by the price of oil? Why not take a look at companies involved in other commodities such as copper, gold and even uranium principal deposits?
Wait a second.
Falcon Energy Inc. has projects in those areas as well.
Which brings us to our next topic: Diversification.
We all know that diversification is an important factor in the investment market, both for companies and shareholders alike. Falcon Energy Inc. has done just that. Instead of throwing everything they have into oil and gas in Alberta, they are also currently exploring in Mongolia for other mineral deposits.
Falcon's business strategy is to identify and develop resource properties that have low barriers to entry, reasonable development timelines and outstanding opportunities to increase shareholder value.
Falcon Energy Inc. believes that their involvement in resource exploration and production brings the challenge of profitably producing and delivering energy and other resources to the world marketplace. They also believe that this effort brings with it the responsibility for doing so in a manner that minimizes the impact to the environment that we all share. Falcon Energy Inc. supports and wherever possible in its operations, implements technologies and methods that are beneficial to the environment - a key sign of a maturing company.
The company recently acquired the mineral exploration rights to five significant properties in a mineral rich region of Mongolia. Their interest in the region is driven in part by the anticipation of the deployment of modern prospecting methods to an area that abounds in both base and precious metals.
We all know that China has an insatiable appetite for aggressive growth and is a dominant force in the economy - building and expanding themselves faster than anyone in the world. At the rate they're going, their need for energy, oil, and metals increases dramatically. Do you like facts and figures? Okay. I am going to give you one: China's President Hu Jintao, announced last month that GDP growth was an astounding 10.2% - in the first quarter of 2006. This appetite has helped drive the commodities bull market to new highs in the past few years. Those who have read up on our past weekly newsletters should know to keep their eyes on China.
Aside from the simple notion that China is commodity- hungry, they are also relatively close to Mongolia. If Falcon Energy Inc. can achieve their goals during this time of the "bull," they may be able to take advantage of their close proximity to China.
So that's it: Our brief introduction to our 2nd Profile of 2006. I hope you enjoy it. I know many of you have been waiting...
To continue with the more in-depth analysis, please visit www.streetinvesting.com for a complimentary subscription to access this report and other related articles. Please note that membership does not require credit card information.
Our goal is to educate, inform and initiate a creative philosophy of investment tactics.
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
| IP: Logged |
"Falcon Energy, Inc. (Pink Sheets:FCYI) is pleased to announce that it has fully acquired the exploration licenses for five mining properties in the mineral rich region of Mongolia.
then hits its ATL or close....what am I missing Tex?
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
