Subject: early bird investors get the gains
falcon natural gas corp ( otc . bb : fngc )
current price : 1 . 18
os shares : 60 million
avg vol : 331 , 400
sector : energy
major recent news ! ( press release source : falcon natural gas corp . ) major recent news !
falcon natural gas corp . secures 11 million financing with cornell capital partners lp .
monday november 22 , 10 : 47 am et
houston business wire . nov . 22 , 2004 . falcon natural gas corp . ( otcbb : fngc - news ) , announced today that it has secured a total of 11 , 000 , 000 in equity financing with cornell capital partners lp .
falcon will receive 1 , 000 , 000 up front . the company will use the funds to re - enter its lower db 3 prospect , which is classified as a pud and has 20 bcf of proven - undeveloped gas reserves . the prospect is located at the avoca minerals property in southern louisiana , one of the richest natural gas producing areas in north america .
the remaining 10 , 000 , 000 was secured under a standby equity agreement . these funds can be drawn at the company ' s discretion based on funding requirements , subject to an effective registration with the sec .
we are very pleased to have cornell capital partners join our current investors , said fred b . zaziski , chief executive officer of falcon natural gas corp . this financing significantly strengthens falcon ' s liquidity and will allow us to move at a faster pace with our exploration program .
natural gas industry represents an enormous investment opportu nity , said hamid fashandi , senior vice president of cornell capital partners lp . we are excited about falcon ' s potential and look forward to building a long - term relationship with the company .
about falcon natural gas corp .
falcon natural gas corp . is a houston , texas based natural gas exploration company . the company is focused on the acquisition and exploration of commercial prospects in onshore areas of the united states of america .
reasons to consider fngc .
1 . the company ' s explorations include prospects with 100 to 200 bcf of gas reserves and another with up to 570 bcf of gas reserves . these propects have been confirmed by two independant sources . if economic natural gas reserves are found and given today ' s market prices , these prospects have a potential estimated market value of up to 698 million ( usd ) .
2 . natural gas prices have sky rocketed in the past year due to political turmoil in the middle east and the growing number of new vehicles in the world . gas prices are expected to continue on the rise in the coming months . natural gas prices in last few months alone have risen up over 50 % .
3 . falcon ' s prospects are located right next door to one of texas ' s greatest natural gas finds .
4 . fred b . zaziski , president and ceo - mr . zaziski has over 26 years in the oil and gas industry . he began serving as the registrant ' s president , ceo and as a director in october 2004 . from august 1999 to october 2004 , mr . zaziski served as chief operations officer for comoxy . in this capacity , mr . zaziski directed operations and project management teams , developed and implemented policies and procedures , directed all phases of the budget , identified new business opportunities and served as the initial contact with joint venture companies . mr . zaziski has also worked in saudi arabia for national petroleum technology company and in manama , bahrain , saudi arabia , cairo and north and west africa for halliburton energy services . mr . zaziski received an mba from the university of cairo and a degree in petroleum engineering from pennsylvania state . mr . zaziski is a member of the society of petroleum engineers and the american society of mechanical engineers .
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