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Growth through Internally Generated Projects

If all noted projections, metrics and milestones are reached as anticipated, FE expects to generate long-term reserves and production growth predominantly through drilling activities. The Company’s current oil fields are generally under-developed with significant primary oil recovery opportunities identified through advanced science and engineering techniques. The fields have existing production, proven reserves and provable undeveloped reserves. The in-fill drilling plan minimizes risks and optimizes company return on investment within each acquisition.

Pursue Reserve and Leasehold Acquisitions

Past acquisitions have played an important role in establishing asset base. The Company intends to use its experience and regional expertise to supplement its drill-bit growth strategy with complementary acquisitions. FE actively reviews acquisition opportunities on an ongoing basis.

Reduce Costs and Maximize Operational Control

FE’s objective is to generate profitable growth and solid returns for its stockholders. The Company believes that its unit cost structure will benefit from economies of scale, outsourcing of its field operations to professional production companies and ongoing cost management initiatives.

Pursue High Potential Projects

The Company has assembled several projects that will provide future long-term drilling inventories. The Company has also identified multiple prospect development and exploration projects.





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