Falcon Natural Gas Corp. Signs Project Evaluation And Economic Study Contract With Moyes & Co.
Moyes & Co., Inc., located in Dallas and Houston, Texas, is well respected for its independent economic, business planning and financial advice on domestic and international energy projects. Moyes & Co. is currently analyzing and compiling data with expected completion in mid-February 2005.
Falcon's Wyandotte Field prospects are located in St. Mary Parish, Louisiana, one of the richest natural gas producing areas in North America. The three prospects represent a potential of up to 570 billion cubic feet (BCF) total gas.
The 17,500 ft DB3 prospect is classified as a PUD and has 20 BCF of proven-undeveloped gas reserves. The 17,000 ft Criss A prospect has potential for up to 50 BCF of gas and is located south of DB3. The volumetrics of the third prospect, Marg 3, show this prospect to have a maximum potential of 500 BCF of gas.
The East Bob West Prospect is located in Southern Texas, another leading gas producing areas in North America, and consists of over 4,000 acres of oil and gas leases adjacent to large proven reserves of natural gas. The East Bob West Prospect may contain as much as 528 BCF of natural gas.
"We are extremely excited to engage Moyes & Co. in evaluating our prospects," said Fred B. Zaziski, Falcon's CEO. "We believe that the study will confirm natural gas potential of the prospects and help us to move on with the exploration strategy."
About Moyes & Co.
Moyes & Co. offers independent systematic project evaluation addressing transaction management and funding options, cost and availability, company and host government interests, all aspects of petroleum systems and technical risk, project development cost and schedules, detailed historical and forward price forecasts, product markets and evacuation options. Moyes provides analysis and examples of project agreements and quantify and provides solutions to business risk. For more information visit www.moyesco.com.
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. For more information visit www.falcongas.com .