Friendly Energy Exploration

Friendly Energy Exploration. (Pinksheets:FEGR – News) The Company announces today that it has completed the final requirements to acquire its operator’s license and has passed the final site inspection for the Panther Creek Prospect.

“The completion of this final inspection and the receiving of Operator Status is just another milestone of achievement of the Friendly Energy Corp business plan,” states Company President, Douglas Tallant. “The company anticipates that it will be making its first oil sales within the next week. Upon completion of the first oil sales the company will begin establishing flow rates for the newly reworked wells on a one by one basis. The company continues to move closer every day to meeting its target production levels of 300 barrels of oil per day for the near future.” » Read more: Friendly Energy Achieves Operator Status

 

CARSON CITY, NV–(Marketwire – 10/22/09) – Friendly Energy Exploration (Pinksheets:FEGR – News) is pleased to announce today that it has acquired its third Barnett Shale lease known as the “Mud Creek Lease “consisting of 355 acres. The company has a 100% Working Interest (WI) with an 80% Net Revenue Interest (NRI).

Included with this lease are eight existing wells that are currently shut in. Four of the eight wells have well head equipment in place. We believe that these wells can be brought on-line in a short period of time and for relatively low costs.

“The acquisition of this third Barnett Shale Lease is part of the company’s business plan to develop proven, low risk oil producing properties,” stated President, Douglas Tallant. “With four of the eight existing Mud Creek wells requiring very little rework, these wells will move the company closer to its production target of 300 barrels of oil per day.”
» Read more: Friendly Energy Acquires Third Barnett Shale Lease

 

CARSON CITY, NV–(Marketwire – 10/14/09) – Friendly Energy Exploration. (Pinksheets:FEGR – News) The Company announces today that it has brought online the seventh of ten wells on the Panther Creek Prospect rework program.

Oil production from these wells, as they have been brought online, is consistent with expectations, with the exact flow figures yet to be determined on a well by well basis. Currently the existing tank battery is holding over 620 barrels of oil, with the company working to expand existing storage capacity.

The company is continuing to pursue the bonding and licensing process in order to achieve “Operator” status in an effort to maximize the percentage return to the company upon the sale of the onsite oil in storage.

The progress for the reworking of these wells is consistent with the overall plan to bring online all ten wells by year end.
» Read more: Friendly Energy Brings Online Seventh Barnett Shale Well

 

Annual Report

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

This following information specifies certain forward-looking statements of management of the company. Forward-looking statements are statements that estimate the happening of future events are not based on historical fact. Forward-looking statements may be identified by the use of forward-looking terminology, such as “may”, “shall”, “will”, “could”, “expect”, “estimate”, “anticipate”, “predict”, “probable”, “possible”, “should”, “continue”, or similar terms, variations of those terms or the negative of those terms. The forward-looking statements specified in the following information have been compiled by our management on the basis of assumptions made by management and considered by management to be reasonable. Our future operating results, however, are impossible to predict and no representation, guaranty, or warranty is to be inferred from those forward-looking statements. » Read more: Form 10-K/A for Friendly Energy Exploration

 

CARSON CITY, NV–(Marketwire – 09/30/09) – Friendly Energy Exploration. (Pinksheets:FEGR – News) The Company announces today that it has acquired an additional Barnett Shale Oil lease in excess of 600 acres.

This lease, known as the Byler Lease, has 19 existing wells that were shut in and capped in the last three years and were producing between 5 and 15 barrels of oil per day per well when shut in.

The lease also provides for an additional 11 well sites of infield drilling, according to a 20 acre spacing allowance. The company plans to establish a rework and reopen plan for the existing 19 wells, in order to maximize their future production. » Read more: Friendly Energy Acquires 600 Acre Barnett Shale Lease

 

CARSON CITY, NV–(Marketwire – 09/17/09) – Friendly Energy Exploration (Pinksheets:FEGR – News) — The Company announces today that it has begun the process of acquiring an Operators Bond with the Texas Rail Road Commission.

Once the bond has been placed and the application approved, Friendly Energy will become a licensed operator for its wells in the State of Texas.

“This application, upon approval, will provide the company the ability to more closely control all aspects of the oil field production and development of our current and future prospects,” states Company President, Douglas Tallant. “This is just one of the many steps the company is taking to achieve its business goals of becoming an efficient, low cost producer of proven oil and gas reserves.”
» Read more: Friendly Energy Barnett Shale Prospect

 

The Company reports today that the Board of Directors has determined with the company’s onsite operator, to begin a reworking program of 10 of the Panther Creek Prospects existing wells.

It is anticipated that the reworking of these wells could enhance daily production to the 50 barrel per day per well level, with the addition of natural gas production yet to be determined.
» Read more: Panther Creek Prospect Production Enhancement Update

 

CARSON CITY, NV — (Marketwire) — 08/25/09 — Friendly Energy Exploration (PINKSHEETS: FEGR) announces today that it has acquired the PANTHER CREEK PROSPECT, a West-Central-Texas, Barnett Shale formation.

The company has acquired an acreage containing 12 existing wells on three contiguous leases located in the South Western Region of the Prolific Barnett Shale Region. These existing wells are producing 5-7 barrels of oil per day currently with a historical production of approximately 82,000 barrels.

The Panther Creek Prospect will be a water flood/pressure maintenance project with the potential to produce up to an estimated 165,000 barrels of Oil. » Read more: Friendly Energy Aquires Barnett Shale Prospect

 

Nov 12, 2008 — Friendly Energy Exploration. (Other OTC:FEGR.PK – News) The Company announces today that it has acquired ten natural gas drilling sites and optioned forty additional sites located in the Molly Murphy Gas Field, Crockett County, Texas. » Read more: Friendly Energy Acquires Ten Natural Gas Drilling Sites, Options Forty Additional Sites

 

Jul 10, 2008 — Friendly Energy Exploration (Other OTC:FEGR.PK – News) — The Company announces today that its joint venture partners Southwest Talpa L.L.C., for the development of certain leases totaling 1300 acres located in Runnels County, Texas has reported that the road to the existing well is near completion. » Read more: Friendly Energy Reports Initial Production