Force Fuels, Inc. (FOFU) kicks off drill program, shares spike

Posted on: Wednesday, July 13th, 2011
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Force Fuels, Inc. (Pink Sheets: FOFU) shares its shares skyrocket 54.6% to 17 cents Wednesday, after beginning Phase II of its drilling plan with Carroll Energy, which includes preparing the reports needed to complete 15 new wells on the properties Force Fuels acquired. Volume for the stock amounted to more than 1.1 million shares, compared to a daily average of less than 50,000.

In a news release issued July 13, Force Fuels said it anticipates completing the geological analysis and field study within two weeks so the Company can move forward with the final drilling permit filings. Once the final permits are issued, Force Fuels will schedule the drilling contractor and other service work as needed.

Force Fuels CEO Tom Heningway declared, “This is the last phase to complete prior to drilling the 15 new wells. As I stated in a recent press release, we expect initial production rates from the 15 wells to produce a combined total of approximately 150 Barrels Per Day (BPD), totaling 4,500 barrels per month, in addition to the production from the recently opened previously shut-in wells.

Concluded Heningway, “We are both proud and excited to enter the production phase.”

Force Fuels, headquartered in Costa Mesa, California, boasts primary products that are regulated and standardized energy based products, which do not require a marketing or sales force, thus completely eliminating the related expenses.

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