FormCap Corp. announced yesterday that it is establishing itself as a Bonded Operator in the State of New Mexico in anticipation of its first proposed well on the Weber City Prospect located in Curry County, New Mexico. The company holds 100% Working Interest in approximately 5,800 gross acres of oil & gas leases in the Permian Basin, all with primary terms of five (5) years. The Company’s operational partner, led by Calgary based Norman Mackenzie, has confirmed that the technical team is completing its deliberations and an initial well will be proposed soon.

The Weber City Prospect is strategically positioned in the Permian Basin. A prolific area that has produced over 35 billion barrels of oil and 100 trillion cubic feet of gas, and is host to over 20 percent of all domestic oil and gas produced in the US, the Permian

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McMoRan Exploration Co. reported an oil and gas discovery on the Davy Jones prospect located in the shallow waters of the Gulf of Mexico on South Marsh Island Block 230. The company is one of the largest acreage holders in the Gulf of Mexico with one million gross acres under lease.

The well was drilled to a total depth of approximately 28,200 feet and hit total net pay of 135 feet in four zones of the Wilcox formation. The formation is from the Eocene and Paleocene eras.

James R. Moffett, the CEO of McMoRan Exploration Co., said, “Davy Jones log results confirm our geologic model and indicate that the previously identified sands in the Wilcox section on this large ultra-deep structure encompassing four OCS lease blocks (20,000 acres) provides significant additional development potential which, upon confirmation development drilling, could make Davy Jones one of the largest discoveries on the Shelf

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Teton Energy Corporation is a company focusing on the acquisition, exploration, and development of oil and natural gas in North America. Headquartered in Denver, Colorado, the company’s goals are to expand its natural gas and oil reserves, production, and revenues. They seek to do this via the acquisition and development of high-repeatability oil and gas acreage. They also desire to acquire operated properties, to control capital spending, and to pursue strategic acquisitions that expand or complement their existing operations.

Teton Energy Corporation trades on the American Stock Exchange (AMEX). They have significant operations in the Rocky Mountain area of the United States. The company has leasehold interests in the Eastern Denver-Julesburg Basin in Nebraska, the Piceance Basin in Western Colorado, the Williston Basin in North Dakota and the Big Horn Basin in Wyoming.

The Eastern Denver Julesburg Basin is currently non-operated and comprises 266,000 gross acres. The company has a

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I don't see why all the hoopla - it seems like a relatively minor purchase at $600M but the market is loving it, pushing Cabot Oil & Gas (COG) up nearly 9%.Cabot Oil & Gas Corp (COG) said on Wednesday it has agreed to pay $602.8 million for producing properties, leasehold acreage and a gathering infrastructure from a private party in East Texas. The acquired acreage lies near Cabot Oil's existing property and will enhance its development of the Pettet, Travis Peak and Cotton Valley formations, the company said. The tract includes 25,000 gross acres in the Minden area of East Texas. The company said it will finance the deal through a combination of debt and common equity. I continue to not own enough of this name...Long Cabot Oil & Gas in fund; no personal position...