FOGC Fortune Oil & Gas, Inc.

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Fortune Oil and Gas Inc. (FOGC) Merger with Alta Mining Complete

Press Release Source: Fortune Oil & Gas, Inc. On Friday March 25, 2011, 3:45 pm EDT
HENDERSON, NEVADA--(Marketwire - 03/25/11) - Fortune Oil & Gas, Inc. (PINK SHEETS:FOGC - News) () is pleased to announce that the merger with Alta Mining Inc. has been finalized.

Following certain administrative hurdles, Alta Mining has been successfully vended into Fortune Oil and Gas, Inc. Alta Mining is a junior mining company dedicated to performing cost effective and highly competitive exploring and developing operations on economically viable mineral deposits situated in geopolitically stable, well known and historically proven mining areas.

Alta Mining is deeply committed to providing a constant increase of value for their shareholders and are confident that their market position, coupled with their unique business perspective, will ensure the success of the company's plan to acquire and develop precious metals properties and successfully achieve their long-term goals.

The company management stated, "FOGC is back on board with a great business opportunity. Alta offers a great connection in the mining industry and we expect the company to bring exiting mining exploration opportunities. Following the merger, the company plans to start optioning exploration properties with valid mining potential. The company expects to have a minimum of one property optioned for exploration before the 2011 exploration season starts in May. We will continue looking at other viable mining businesses for mergers, but for now, we are extremely pleased with Alta and its professionals, and expect to achieve some results in mining exploration."

In other company updates, the company shortly intends to name a new CEO with mining expertise, a complete new board member roster and will shortly begin to update the OTC Markets with filings company financials and other relevant data.

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Fortune Oil & Gas, Inc. (FOGC) New CEO Appointment and Management Update

Press Release Source: Fortune Oil & Gas, Inc. On Monday March 28, 2011, 3:30 pm EDT
HENDERSON, NEVADA--(Marketwire - 03/28/11) - Fortune Oil & Gas, Inc. (PINK SHEETS:FOGC - News) () has appointed Serge S. Acimovic as its new president and chief executive officer to take the reins of FOGC and its new Alta Mining Inc. subsidiary.

FOGC announced the finalization of its merger with Alta Mining on March 25, and the company is eager to get down to business and report to its followers. Acimovic brings a wide set of business skills and contacts to his position that will highly benefit the company. FOGC believes that Acimovic's ability to successfully synergize numerous business aspects will help it to quickly move forward and provide it with the needed strength to become a successful junior mining company. FOGC is positive that Acimovic will expand the company's Board of Directors with people who share a similar understanding of the mining industry and have expertise that should establish strong credibility in the industry.

FOGC is looking to further explore and exploit mining ventures and build a diversified portfolio of exploration and development projects with historically proven mining potential that meet the company's development standards. The negotiation process is to the point where the company can say that the upcoming mining season (starting in May 2011) will bring a lot of exploration activities. The new management is bullish on the mining industry and the company's financing is securely in place.

Alta Mining remains dedicated to overseeing cost-effective exploration and development operations on economically viable mineral deposits situated in geopolitically stable, well-known and historically proven mining areas.

In other corporate news, FOGC has completed its subscription agreement with OTC Markets and will soon commence updating OTC Markets with corporate and other relevant data. More updates will follow shortly and frequently.

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Fortune Oil and Gas, Inc. (FOGC) Bids for Mining Property in British Columbia, Canada

Press Release Source: Fortune Oil & Gas, Inc. On Thursday March 31, 2011, 3:55 pm
HENDERSON, NEVADA--(Marketwire - 03/31/11) - Fortune Oil & Gas, Inc. (PINK SHEETS:FOGC - News) () has signed a Letter of Intent (LOI) for a mining property in British Columbia, Canada.

The LOI specifies that Alta Mining will acquire SHG Claim Set, a silver, lead and zinc-bearing property located in a well-known mining district about 25 kilometers northwest of Kaslo, B.C.

Mineralization on the property is typical for well-known silver-lead-zinc mineralization that occurs in the Triassic Slocan Group. The property also includes greenstones and ultramafic rocks of the Permian Kaslo Group, which also host rich silver-lead-zinc mineralization. The general structural trend is 310 degrees, dipping generally southwesterly. The mineral deposit is a polymetallic type of vein that bears silver, lead, zinc and sometimes gold.

The entire region is known for high-grade silver and gold deposits, and numerous past and current producers are in close proximity to the property. The latest reports on the property were completed in the early 1970s, but there was no significant success in revealing its mineral capacity.

A confidentiality clause in the LOI prevents FOGC from revealing more details about the property. The company will issue a full report immediately upon the execution of the final contract with the property owner.

FOGC has taken a major step forward in executing its strategy by securing a mining property with historically confirmed mineralization for its portfolio of projects, and sees this as a catalyst for further expansion. SHG Claim Set is a perfect fit for the company's development policy in that it has a history of mineralization and undeveloped potential caused by old exploration techniques. Modern technology gives FOGC an opportunity to compress the time that it takes to realize the full potential of the property.

FOGC CEO Serge S. Acimovic stated: "The business understanding between the claim holder and us is strong and positive. Post-LOI negotiations are moving in the desired direction with a big probability for a definitive agreement. Properties that are strategically well-placed in a district with a rich history of mining will fuse the company's power to implement advanced exploration technology on the historically defined and confirmed mining potential of SHG Claim Set.

"This LOI that calls for purchasing 100% of the ownership and all mineral rights on the proposed property is a major step forward in executing our strategies. This step will define Fortune Oil & Gas as a prosperous junior exploration company in the global mining market.

"Silver and other commodities that are present on the property have experienced a significant upward price movement through 2010 and the first quarter of 2011, and analysts aren't expecting those price increases to slow to any significant degree in the future. International market and political circumstances are working favorably in support of this upward trend, and industrial demand for silver isn't going to fall. All of these factors give us a strong belief that resource pricing will continue to move upward.

"The Letter of Intent will be superseded by a definitive agreement that's subject to mutual approval. It's intended to be completed upon both parties agreeing on the agreement structure that has to comply with all necessary legal and regulatory requirements. At the same time, it has to minimize or eliminate any unfavorable financial consequences for Fortune Oil & Gas and increase cost-effectiveness, which is the ultimate goal in the company's development policy."

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Press Release Source: Fortune Oil & Gas, Inc. On Friday May 6, 2011, 3:45 pm EDT
HENDERSON, NEVADA--(Marketwire - 05/06/11) - Fortune Oil & Gas, Inc. (PINK SHEETS:FOGC - News) () is pleased to announce that a deal to acquire Cressent Energy () from King Resources, Inc. (PINK SHEETS:KING - News) () will close shortly.

Cressent anticipates producing up to 200 barrels of oil a day by the end of the year after reopening almost three dozen Texas oil wells. With oil prices hovering around $100 per barrel, it's looking at pumping approximately $20,000 worth of oil to the surface each day. That translates to about $7 million annually if everything goes as anticipated. Cressent has all of the equipment necessary to operate these relatively shallow oil wells, and it won't need to spend additional funds to acquire new machinery in order to exploit them.

Cressent chief executive officer Louis Purvis, who has more than 35 years of experience in the oil and gas business, will become FOGC's new CEO. Current CEO Serge S. Acimovic will become FOGC's chief operating officer. He'll continue overseeing the company's expansion into mining, which will be backed by revenue generated from Cressent's oil and gas production.

Following this news, and FOGC's reorganization, the company will continue its expansion. This includes discussions to purchase a lithium mining operation in Argentina. Management believes that Cressent, as a revenue-generating venture, will provide leverage for FOGC's mining expansion.

FOGC will keep its investors and followers updated on any new developments in a timely fashion.

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Fortune Oil and Gas, Inc. (FOGC) Completes Acquisition of Cressent Energy

Press Release Source: Fortune Oil & Gas, Inc. On Thursday May 12, 2011, 10:32 am EDT
HENDERSON, NEVADA--(Marketwire - 05/12/11) - Fortune Oil & Gas, Inc. (PINK SHEETS:FOGC - News) () is pleased to announce that it has finalized its deal to acquire Cressent Energy ().

FOGC amongst other things announced on May 6, 2011 () that it was close to completing the acquisition of Cressent Energy. New FOGC chief executive officer Louis Purvis and chief operating officer Serge S. Acimovic can now look forward to exploiting the full potential of Cressent's oil and gas production operations, and use revenues from those activities to continue FOGC's mining expansion.

In other news and events, FOGC remains in discussions to purchase a lithium mining operation in Argentina. Moreover, Cressent will shortly release its future plans and forward guidance on monetizing and capitalizing on the current high energy and resource prices.

FOGC followers may expect frequent and timely updates from the company on any new developments in a timely fashion.

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Fortune Oil and Gas (FOGC) Forward Guidance: Projecting a Significant Oil Production Increase in 2011

HENDERSON, NEVADA, May 13, 2011 (MARKETWIRE via COMTEX) -- Fortune Oil and Gas (PINK SHEETS: FOGC)() is pleased to provide this forward guidance on oil production for Cressent Energy (), its status, exploration plan and opportunities.
Cressent anticipates producing up to 200 barrels of oil a day by the end of the year after reopening almost three dozen Texas oil wells. With oil prices currently hovering around $100 per barrel and expected to rise, FOGC is looking at pumping approximately $20,000 worth of oil to the surface each day. That translates to over $7 million annually if all developments proceed as anticipated by Cressent Management.

Cressent Energy has no debts and is cash-positive with consistent monthly revenues, which puts it in excellent shape to exploit the potential of almost three dozen oil wells that Cressent is currently reopening in Texas.

Cressent core business model focuses on reopening abandoned oil projects. Rising oil prices have made the once economically unprofitable deposits worth tapping into again. Cressent uses state-of-the-art 3D seismic technology, which reduces the number of dry holes drilled, therefore increasing the number of productive wells.

The company is dedicated to being environmentally responsible and places an emphasis on the health and safety of the areas where it drills. The company is in the process of updating its web site to reflect both operating subsidiaries and expects to have it completed by middle of next week.

A similar forward guidance will follow on FOGC's second subsidiary Alta Mining.

More details will follow shortly.

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Alta Mining Inc. (FOGC) To Purchase 100% Mining; Keslo, B.C

Press Release Source: Fortune Oil and Gas, Inc. On Thursday May 19, 2011, 3:45 pm EDT
HENDERSON, NEVADA--(Marketwire - 05/19/11) - Fortune Oil and Gas, Inc. (PINK SHEETS:FOGC - News) () is pleased to announce that its mining subsidiary Alta Mining Inc. has entered into a purchase option agreement to acquire a 100% interest in mining claims at a property located in the mining district of Kaslo, B.C.

The property is located in the Slocan area of B.C. within easy commuting distance of both Kaslo and New Denver. A gravel road extends north to allow access to area over the whole field season.

Previous exploration in the area on and around the claims resulted in numerous discoveries, one of the largest being the Whitewater Mine. The subject mine, located just to the north of the property, produced 260,542 tons of ore containing 1435 oz gold, 3,152,130 oz silver, 28,017,903 lbs lead and 6,260,370 lbs zinc during the period from 1892 to 1945 for an average of 12 oz/ton silver, 5.4% lead and 1.2% zinc. The ore bodies were found adjacent to a thrust fault zone within slate and limestone of the Slocan Group (Hedley 1945).

The whole region is well known for its exceptional high grade mineralization that follows the general structural trend of 310 degrees, dipping generally southwesterly encountering similar grades over the mineralized area. Reports done in the past, underline the possibility that the economically viable area of mineralization could be extended further from the deposits that were exploited in the past.

FOGC management affirms its dedication to its current mining and oil exploration subsidiaries, (Cressent Energy and Alta Mining), and the majority shareholders financial backing of these various announced projects will achieve the projected company growth.

In other company news and events, the company is awaiting a National Instrument 43-101 to complete a compilation report which will be shared with followers in due time. More details will follow shortly.

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Alta Mining Inc. (FOGC) Shares Report on Property in British Columbia

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Symbol Price Change
FOGC.PK 0.04 0.00


{"s" : "fogc.pk","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00", "o" : "","j" : ""} Press Release Source: Fortune Oil & Gas, Inc. On Tuesday May 31, 2011, 3:45 pm
HENDERSON, Nev., May 31, 2011 /PRNewswire/ -- Fortune Oil and Gas, Inc. (PINK SHEETS:FOGC.pk - News) () is pleased to announce that its mining subsidiary Alta Mining Inc. has received a compilation report that gives more define overview and reveals great exploration potential on mining property located in the mining district of Kaslo, British Columbia (BC).

The region targeted by Alta's management is known for its potential for high grade silver deposits which, with appropriate exploration work, could be potentially developed as producing mines in near future.

Compilation reports underline that BC government assessment files indicate that there has not been significant recent work in the area and all reported work has been on small portions of the overall property. Past work completed on and adjacent to the Alta's Property have identified several areas for follow-up. The company is already in the process of assembling a systematic modern exploration program which should begin shortly and will take advantage of the summer weather conditions. The compilation report and interpretation of previously collected data for the property was carried out by a Qualified Person with respect to National Instrument 43-101.

Management is very encouraged by this report as it reconfirms our initial belief that the property is located in a very favorable area for hosting silver, and base metal deposits with prospective areas for discovering economic silver mineralization.

The compilation report will be posted on web site for readers' viewing.

More news and updates to follow

[mickymoose99]

Cressent Energy (FOGC) Prepares for Oil Extraction on the Liberty Salt Dome

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Symbol Price Change
FOGC.PK 0.0260 0.00


{"s" : "fogc.pk","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00", "o" : "","j" : ""} Press Release Source: Fortune Oil and Gas On Tuesday June 7, 2011, 3:45 pm EDT
HENDERSON, Nev., June 7, 2011 /PRNewswire/ -- Fortune Oil and Gas' (PINK SHEETS:FOGC.pk - News) subsidiary Cressent Energy () is pleased to provide an update on the development plans of the company's most promising leases in Texas.

Cressent is proceeding with oil extraction preparations on the Liberty Salt Dome, an area south of Houston that Cressent purchased as six individual leases in 2010 as Proven Undeveloped Drill Sites (PUDS). Several older wells are in place in this area, and Cressent is starting the reconditioning phase of these wells so it can move into oil development of these leases.

The reconditioning consists of checking the fluid levels and swabbing the wells, or getting rid of the salt water. Following this, Cressent will proceed with cleaning of the gravel packs and building the pad for the rig around the wells and clearing flow lines to the tank batteries.

Barring any drilling permit delays, Cressent management expects to have the first well drilled in Q3 of 2011. Profit for the company is anticipated within three months after opening. The company aims to drill up to 5 wells on this field.

More details will follow shortly on Alta Mining, FOGC's mining subsidiary