HENDERSON, Nev., July 18, 2011 /PRNewswire/ -- Fortune Oil and Gas, Inc.'s (FOGC; http://www.fortuneoilandgascorp.com) Cressent Energy El Paso joint venture delivers results and solid future opportunities.
Cressent Energy oil opportunities through the venture seem promising. The company will seek petrochemical engineer's opinion to confirm the wells' abilities to produce revenue on an ongoing basis and into the future. If the reports prove viable reserves in these oil wells, Cressent will proceed with acquisition on these leases. This cooperation will foster Cressent's plan for organic growth without outside investment. Through this cooperation, Cressent Energy is looking to acquire 40 leases with over 100 wells present on these properties.
In other news, Alta mining continues to follow its leads into the silver acquisitions in British Columbia, Canada. The company wants its followers to understand that the historical findings in the property's vicinity are located in "convenient" locations, that is being without overburden (barred rock areas), and close to infrastructures. The company is looking at claims surrounding these proven "convenient" claims/findings. While still close to infrastructures, the areas scouted by Alta carry light, easily removable overburden, but are still part of the same geological development.
More updates on both subsidiaries to follow shortly.
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