FormCap Corp. announced that it has completed the acquisition of 2400 acres of prospective oil leases in Cowley County, Kansas. FormCap has acquired a total of 2400 acres of prospective oil and gas leases for a total cost of $480,000 from Kerr and Keta and owns 100% of the Leases (80% net revenue to FormCap; 20% freehold royalty), and will be operator.  FormCap will have the option to purchase additional leases in Cowley County from Kerr and Keta under an Area of Mutual Interest (AMI), the terms of which are set forth in the Agreement.

FormCap is required to drill one well in each of the first two years of the Lease term to maintain its interest in the Leases.