Type: public
Site: http://1stnrg-corp.com

Company Information

1st NRG Corp. (OTCBB: FNRC.PK) is an exploration and production company engaged in the development of natural gas producing properties in the Powder River Basin of Wyoming. Headquartered in Denver, Colorado, our activity has been centered upon the development of coal bed methane reserves where we hold a working interest in 42 producing wells, 1 permitted location and 2,821 undeveloped acres. The undeveloped acreage could be permitted for 35 locations which are characterized by what we believe to be low geologic risk, a repeatable development opportunity and are offsetting wells which all demonstrated developed coal seams in the Schwartz, Anderson, Canyon, Cook and Wall formations.


Deal StructureAmountSummary
Private Debt$11,000,000.00Planned Activities 1.Acquisition of Bear Cat Energy’s interest in 600 Coal bed Methane wells and re-establishment of production 2.Re-establishment of production in Clabaugh Ranch and buying interest of partner in this location. 3.Acquire Natural Gas Gathering system (Big Horn and Oneok system) Capital Requirements Pipeline Big Horn System: 2,500,000 Oneok – Systems: 500,000 Working Capital: 1,500,000 Clabaugh Ranch Acquisition of working interest:825,000 Development of PDNP reserves: 500,000 Working Capital: 275,000 Bear Cat Energy Acquisition of working interest: 2,900,000 Re-establish production 2,000,000 Total Capital Requirement$ 11,000,000

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