Cressent Energy (FOGC) Swift Acquisition Completed
20 Julho 2011 - 4:30PM
Marketwired
Fortune Oil and Gas, Inc. (PINK SHEETS:
FOGC)(http://www.fortuneoilandgascorp.com); Cressent Energy
management is pleased to announce that it finalized an all-cash
basis for the acquisition of an oil well with solid production
capabilities.
FOGC was solicited for a purchase of a well currently producing
8 barrels of oil a day. The management is currently exploring other
ways and means of, adding additional revenues to the company purse.
The Company is of the opinion the production of this well can be
increased to up to 16 barrels a day.
Mr. Louis Purvis, Cressent CEO, stated, "The company from which
we are acquiring this property has a portfolio on wells in a
different drilling area, with only a single well in our vicinity.
This makes it difficult and time consuming for them to maintain
this well."
More updates on both subsidiaries to follow shortly.
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