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Press Release Source: First Petroleum & Pipeline Inc.
Corporate Update for First Petroleum Friday April 7, 2006 2:46 pm ET
NEW YORK, NY--(MARKET WIRE)--Apr 7, 2006 -- First Petroleum & Pipeline Inc. (Other OTC:FPPL.PK - News) 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. ADVERTISEMENT
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.
Posts: 4381 | From: houston | Registered: Mar 2006
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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.
Posts: 4381 | From: houston | Registered: Mar 2006
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Man I'm all F'd up. I read the PR wrong. LMAO!!!!!!. Still huge news. I'll be holding this one.
Posts: 4381 | From: houston | Registered: Mar 2006
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Dec 07, 2006 (M2 PRESSWIRE via COMTEX) -- Bull in Advantage, LLC A.K.A Redhotpennystock.com names Marketing Concepts International (Pink Sheets: MCCI), First Petroleum (Pink Sheets: FPPL), PRODUCE SAFETY AND SECURITY INTERNATIONAL, INC. (Pink Sheets:PDSC), ER Urgent Care Centers (PINKSHEETS: ERUG) and eTelcharge.com (OTCBB: ETLC) its "Red Hot Penny Stock." First Petroleum (Pink Sheets: FPPL) is a growing oil and gas company actively engaged in acquisition and development of oil and gas properties in New Mexico and other U.S Midwest States.
First Petroleum's successful growth strategy will focus the company's efforts on the acquisition and development of low risk, low-cost, long-life oil reserves. These assets will be selected because they have the potential to deliver significant production and cash flow.
The Company is headquartered in New York City and its common shares trade in the U.S. markets under the symbol FPPL.
Posts: 68 | From: North Country | Registered: Mar 2006
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OLD PR reprint. Looks like more dilution. Good time to flip if I had some to flip. GL
Posts: 758 | From: FOREST,MS | Registered: Feb 2005
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Is anybody watching this. This is the next big momo player. If you know how to make money then you know how to play the MOMO and this is the next one. Jump aboard. But as always do your own DD and glta.
Posts: 85 | From: South Beach | Registered: May 2006
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I seem to recall asking about thoughts on this stock about 3 days ago, but where did it go? I thought it was proper to follow a thread rather than disregard and start a new one.
Posts: 68 | From: North Country | Registered: Mar 2006
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glad I didn't get in - chart looked great - but no fundamentals - and no response to any of my questions from aristo - who got my attention
I would love to see fppl run again - when it goes it really can move and I think he made a good call with the chart - it did look beautiful - maybe it is consolidating at these levels .0035 - .0045 - which would be constructive.
who knows thoug - for now I am on the sidelines waiting for some follow through one way or the other.
good luck all!
Posts: 268 | From: New York | Registered: Mar 2005
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