IDGLOBAL Begins Diversification Plan for 2009 in G2 Petroleum Acquisition
KELOWNA, British Columbia--IDGLOBAL (Pink Sheets: IDGC - News) IDGLOBAL is pleased to announce to its shareholders it has entered into an LOI (Letter of Intent) to acquire and develop a 10% Working Interest in the Diamond Springs Prospect located within the Wind River Basin, Wyoming.
The G2 Petroleum project covers 3,300 Gross Acres with 72 drilling locations (40 acre spacing). This has shallow formations thus making it more economic to drill. Other Working Interest Partners include emerging Force Energy, an OTCBB E&P organization with a strategic focus on acquiring oil and gas assets in
The company will be adding new reserves thus contributing to the national initiative of further developing domestic reserves
About Diamond Springs Prospect:
G2 Petroleum LLC of Midland, Texas, holds 3,300 acres of prospective oil and natural gas property in
The Diamond Springs Prospect is comprised of three independent but geologically similar prospective locations within the 3,300 acre track and is situated in close proximity to productive oil and gas fields. The Northwest, North, and West Diamond Springs are shallow drilling prospects of 200' to 1,100' in depth, with a possible 72 drilling sites between the three locations based on 40 acre spacing.
ABOUT FORCE ENERGY'S (FORC.OB) INITIAL DRILLING LOCATION
The initial shallow drilling prospect is estimated to be completed within a range of 250' to 900' and yield a 75' pay-zone in the Frontier Sands (a very prolific oil-producing sand). Such a shallow well in this area is initially estimated to cost less than $350,000 for turnkey drilling.
If successful, the Northwest segment of the Diamond Springs Prospect could yield an estimated return of approximately $190 Million in gross revenue. These figures are based on the 2 Million barrels of recoverable oil present for this particular segment of the Diamond Springs Prospect in conjunction with current oil and gas pricing.
Regional Overview
Diamond Springs is located within the
Other major operators who are active in the Basin include Conoco Phillips (Mkt Cap: $132B), Encana Corp (Mkt Cap: $63B), and Devon Energy (Mkt Cap: $53B). Independent operators include Howell Petroleum, Petroleum Resource Management, Richardson Operating Co, and Rockwell Petroleum.
www.forceenergycorp.com/maps.php click for map
About IDGLOBAL Corp. (www.idglobalcorp.com)
IDGLOBAL provides a range of leading technologies specifically designed to provide private enterprise and governments 100% solutions to their Counterfeiting and Loss Prevention / Anti-Theft security programs. IDGLOBAL's Nano-Molecular Markers / Tags™ are specifically designed for global anti-counterfeiting applications and its IDFORENSIX™ products provide Loss Prevention / Anti-Theft solutions for the annual $800 billion Anti-Counterfeiting and Loss Prevention markets. IDGLOBAL is a forward looking company with a robust R&D program and product development and integration program for the purpose of providing next generation Nano based and leading edge Anti-Counterfeiting products and Security solutions. Nano-Molecular™, Nano-Molecular Markers™, Nano-Molecular Tags™ and IDFORENSIX™ are registered trademarks of IDGLOBAL Corp. All Rights Reserved.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the
Contact:
IDGLOBAL Corp.
Daryl Regier, President & CEO
Philip Viggiani, VP, Sales & Marketing
Marc Hamilton, Chief Operation & Financial Officer
Phone: 250-862-8933
Fax: 250-862-8322
(www.idglobalcorp.com)