rfe red fork oklahoma significance to fut

http://www.asx.com.au/asxpdf/20091013/pdf/31l98qs6v7fj93.pdf

Yesterday (link above), Red Fork (RFE) announcement the acquisition of a GAS PROJECT IN Oklahoma, US.

Obviously, FUT acquired a comparable Gas Project (ATOCHA) in Louisiana, US a few weeks ago and are set to ramp up drilling later this month.

On any sign of success, i expect a 1.3-1.5c share price.

Thats the way the game works with these explorer's and exploration companies.

Its hit or miss. And if you hit, YOU HIT BIG


RFE is a $146.25mn market cap company given its $1.25 share price and 117mn shares on issue (non-diluted)


Some key points from Atocha Acquisition:

FUTURE CORPORATION TO ACQUIRE INTEREST IN ATOCHA PROJECT
Future Corporation Australia Ltd (ASX: FUT) is pleased to announce the acquisition of a 50% interest from
well established US explorer Pryme Oil and Gas Limited (ASX: PYM) (Pryme) in their Atocha Project.

The Atocha project covers an area of approximately 6,400 contiguous acres within the up-dip fairway of the
Tuscaloosa Trend of East Baton Rouge and East Feliciana Parishes, Louisiana with a prospective field size
of up to 1.2 TRILLION CUBIC FEEL EQUIVALENT (TCFE) RECOVERABLE GAS equivalent.

HIGHLIGHTS

· FUT acquires a 50% interest in the Atocha Project.

· Up-dip to the Port Hudson field in the heart of the prolific Tuscaloosa Trend

· Project area which is close to existing oil and gas infrastructure (close to a gas pipeline and less
than 5km from a Gas Fired Power Station).

· Project area is prospective for gas and oil with a target size of 1.2 TCFE of recoverable gas
equivalent for the entire Atocha prospect acreage.

· First prospect test involves re-entry, to a depth of 17,700 feet, of existing well drilled by Shell

· First Prospect defined by a grid of reprocessed 2D seismic

· WORK ON RE-ENTRY IS EXPECTED TO BEGIN WITHIN 30 DAYS!!!

· First re-entry well prospective for gas and oil with a TARGET SIZE OF UP TO 28 BILLION CUBIC FEET EQUIVALENT (BCFE) OF RECOVERABLE GAS EQUIVALENT

· Project area has potential for additional prospects



I am a buyer at these levels



Regards,
followme