1ST NRG CORP. 1st NRG Corp. has entered into a Letter of Intent to develop approximately 7,150 acres in Eastern Ohio. Recently the Ohio Department of Natural Resources released estimates of the possible Utica-Point Pleasant recoverable reserve potential in Ohio to be between 3.75 to 15.7 trillion cubic feet of natural gas and 1.3 to 5.5 billion barrels of oil.
The company also has entered into an agreement which will deliver an oil and gas lease and surface use agreement for 1,370 acres located in Banner County Nebraska. The company expects the area to have possibilities to develop the Niobrara Shale which is being compared to the Bakken Shale in North Dakota. Located in the Denver Julesburg Basin which extends from Southeast Wyoming and Southwest Nebraska into Northeast Colorado, the acreage will provide the company with possible oil, natural gas and natural gas liquids development in the Niobrara Shale, as well as the Codell, Greenhorn, D and J Sands.
