Force Fuels Appoints New CFO

- Force Fuels Appoints New CFO

Tuesday, August 23, 2011
Force Fuels Inc.

Force Fuels has appointed Charles B. Mathews as its Chief Financial Officer as of September 5, 2011.

Mr. Mathews brings more than 18 years of accounting and management experience to the company. He currently serves as the managing principal of Mathews & Mann, LLC, an accounting and business consulting firm in Phoenix, Arizona. Mr. Mathews has extensive experience with both public and private companies. From December 2007 to March 2009, Mr. Mathews was Interim CFO of Education 2020, a virtual education company focused on students in grades 6-12. From March 2004 to November 2007, Mr. Mathews was Executive Vice President and Chief Financial Officer of Quepasa Corporation, a publicly traded leading Hispanic internet portal. Mr. Mathews has extensive experience in helping companies with turn-around situations and corporate restructuring. Mr. Mathews, a Certified Public Accountant, has a B.A. in Business Administration from Alaska Pacific University and an M.B.A. from Arizona State University.

Tom Hemingway, CEO of Force Fuels stated, "We are pleased to have Mr. Mathews join our team. We believe Mr. Mathews will be of great assistance to us as we continue our efforts as we build for the future growth of the company."

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Force Fuels Begins Phase II of Drilling Plan

- Force Fuels Begins Phase II of Drilling Plan

Wednesday, July 13, 2011
Force Fuels Inc.

Force Fuels announced the beginning of Phase II of its drilling plan with Carroll Energy, which includes preparing the reports needed to complete 15 new wells on the properties Force Fuels acquired.

Force Fuels anticipates completing the geological analysis and field study within two weeks so the Company can move forward with the final drilling permit filings. Once the final permits are issued, Force Fuels will schedule the drilling contractor and other service work as needed.

"This is the last Phase to complete prior to drilling the 15 new wells. As I stated in a recent press release, we expect initial production rates from the 15 wells to produce a combined total of approximately 150 Barrels Per Day (BPD), totaling 4,500 barrels per month, in addition to the production from the recently opened previously shut-in wells. We are both proud and excited to enter the production phase," stated Tom Hemingway, President and CEO.

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[Oil and Gas Post] - Japan’s Coal, Gas Demand to Rise After Quake, New Hope Says

Japan’s Coal, Gas Demand to Rise After Quake, New Hope Says

March 22, 2011, 2:07 AM EDT
By Elisabeth Behrmann

(Updates to add closing share price in fourth paragraph.)

March 22 (Bloomberg) -- Japan’s coal and natural gas demand is likely to rise after the nation’s biggest earthquake this month knocked out nuclear-powered generators, said New Hope Corp., an Australian coal producer.

“I would expect increased requirements to burn coal and gas over the next few years,” Robert Neale, chief executive officer of the Ispwich, Queensland-based company, said today in a phone interview. Coking coal, in particular, would be needed “because you’ll have at least five or more years of reconstruction, which is going to require steel,” he said.

Japan, which depends on imported fuel for most of its needs, is seeking alternatives to nuclear power after the March 11 quake forced the shutdown of 11 reactors. Five years may be needed to rebuild after the disaster, the World Bank said.

New Hope fell 0.2 percent to A$4.89 at the 4:10 p.m. close in Sydney trading. Shares in the company have risen 0.8 percent this year, compared with the benchmark S&P/ASX 200 Index’s 2.2 percent fall.

New Hope reported first-half profit of A$407 million ($409 million), a rise of more than fourfold following the sale of the company’s stake in Arrow Energy Ltd. The company has a cash balance of about A$1.6 billion following the A$238 million acquisition of Northern Energy Ltd., Neale said.

Demand for coal will rise to make up for the lost nuclear capacity because it’s cheaper than oil and gas, and also due to negative public sentiment toward nuclear power, Andrew Harrington, an analyst Patersons Securities Ltd., said in a report. “We believe that the negativity surrounding nuclear energy will see increased demand for fossil fuels including and especially coal.”

Coal producers likely to benefit from increased demand include Gloucester Coal Ltd., New Hope, Whitehaven Coal Ltd. as well as developers Aston Resources Ltd., Cockatoo Coal Ltd. and Riversdale Mining Ltd., said Harrington.

--Editors: Keith Gosman, Andrew Hobbs
To contact the reporter on this story: Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net
To contact the editor responsible for this story: Andrew Hobbs at ahobbs4@bloomberg.net

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