RENO, Nev.–(BUSINESS WIRE)–FORMCAP CORP (PINKSHEETS: FRMC.PK – News) 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. FormCap 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, confirms that the technical team is completing its deliberations and an initial well will be proposed shortly.

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 Basin’s development history and stable, long-life production is one of the main reasons FormCap has secured the Weber City Prospect acreage and continues to expand its holdings. FormCap plans to drill wells to test four potentially productive hydrocarbon zones; the San Andres, Clearfork, Wolfcamp and Cisco formations. Over 125 wells (based on 40 acre spacing) could be drilled on the Prospect.

“As a Bonded Operator in New Mexico, FormCap will more fully control operations and production from our successful wells on the Weber City Prospect. This will minimize operational costs and maximize our profits over the long term” stated Graham Douglas, FormCap’s President & CEO.

About FormCap Corp.:

FORMCAP is a reporting issuer with the shares traded on the “Pink Sheets”. FormCap holds 100% Working Interest (80% Net Revenue Interest) in the 5,800 acre Weber City Prospect located in Curry County, New Mexico. Formcap’s mandate is to seek out highly prospective oil and gas properties for acquisition, exploration and development. For more information see our website at www.formcapcorp.com or e-mail info@formcapcorp.com.

Safe-Harbor Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.