First Columbia Gold Corp. FCGD
On the menu for this morning is a look at FCGD, which, at first glance seems to be a gold play, however the company’s current activities align more with the oil and gas sector. The FCGD chart has been settling down to a relative low, so we think now is a good time to size up the stock. Of course we’ll get into the chart after we take a look at what First Columbia has been up to in what shaped up to be a busy month of October.
It began with the start of drilling operations at an oil & gas property in Kentucky early this month, marking the beginning of a new ten-well program, which is in addition to the 42 wells spread over 20 leases that the company has already restored to active oil production. It’s rare we come across an oil & gas play at this level that is actually drawing resources from the ground. It gives us extra incentive to follow along with its projects very closely.
Last week, FCGD announced the 3rd and 4th wells reaching active drilling status, and the general opinion is that the program is going as well or better than what was expected. According to its website, FCGD is targeting initial revenue and cash flow from the Kentucky project within the current fiscal year.
FCGD is under new management as well. The week before last, the board appointed Jason Castenir its new CEO and Chairman. Castenir was previously involved with the company in a consulting capacity, and was apparently instrumental in the acquisitions that made the company’s current project possible.
In a few words from the new CEO: “This drilling program is off to a really strong start. Our initial drilling success, combined with the fact that we are bringing so much of the old production back online is working together to create a lot of energy for our company.”
We actually had the honor of conducting an exclusive interview with FCGD’s new CEO Jason Castenir this morning through our sister site, Stock Traders Talk. We encourage everyone to take a look at the interview as it provides a more in-depth look at the current status of the company directly from the CEO. It will be available at the StockTradersTalk.com homepage at precisely 9:30AM EDT.
Along with a good back story, we like potential we see in the chart as well. Take a look at the video we put together outlining some of the highlights:
You can also check out this on-site video that FCGD put out recently through social media.
HEADLINES OF RECENT KEY EVENTS:
- First Colombia Gold Corp. CEO Jason Castenir Exclusive Interview on StockTradersTalk.com (Thu 8:00AM EDT)
- First Colombia Gold Announces Two New Oil Wells (Tue, Oct 21)
- First Colombia Gold Corporation Announces New CEO (Fri, Oct 17)
- First Colombia Gold Corporation Expands Drilling Operation in Monroe County, Kentucky (Wed, Oct 8 )
- First Colombia Gold Corporation Commences Drilling Operation in Monroe County, Kentucky (Tue, Oct 7)