Friendly Energy has completed the final requirements to acquire its operator's license and has passed the final site inspection for the Panther Creek Prospect.
"The completion of this final inspection and the receiving of Operator Status is just another milestone of achievement of the Friendly Energy Corp business plan," states Company President, Douglas Tallant. "The company anticipates that it will be making its first oil sales within the next week. Upon completion of the first oil sales the company will begin establishing flow rates for the newly reworked wells on a one by one basis. The company continues to move closer every day to meeting its target production levels of 300 barrels of oil per day for the near future."
The company continues to actively search for additional, existing, production to acquire in addition to any proven, low risk, infield drilling opportunities for both oil and gas.
Friendly Energy is committed to the exploration and development of its prospects to take advantage of the current market pricing in the price of oil and gas by developing undeveloped reserves with little downside risk.
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