FOOTHILLS EXPLORATION INC - FTXP STOCK NEWS

Foothills Exploration, Inc. (OTC: FTXP) announced an operations update for Q1 2022, highlighting its acquisition of 1,960 acres in Wyoming's Wind River Basin, raising total acreage to 20,847. The company reported a 75% production increase from its Illinois Basin properties, generating $247,712 in gross revenues. Future development includes new drilling in Illinois, anticipated to pay back within 180 days. Additionally, Foothills is pursuing clean energy initiatives through its New Energy Ventures division, repurposing abandoned wells for geothermal energy and hydrogen production.

Foothills Exploration, Inc. (FTXP) has announced an operations update detailing rework efforts in the Illinois Basin, including stimulation operations on three wells aimed at increasing production by 10-15 barrels of oil per day. A 50% working interest agreement was established with Benchmark Properties for the Mark Heat #4 well. The company is also pursuing opportunities in the Rockies and Mid-Continent regions, targeting marginal well production. In Southern Oklahoma, a letter of intent with LBM53, LLC aims to explore return-to-production operations that could yield up to 25 barrels of oil per day.

Foothills Exploration (OTC: FTXP) announced a letter of intent with Saddle Rock, LLC to explore return-to-production opportunities in the Williston Basin. This partnership involves acquiring leases, including those with non-producing wells, to enhance production through workovers and optimization. Saddle Rock will manage operations while Anaconda Energy, FTXP's subsidiary, acts as a strategic partner. The collaborative effort aims to target underdeveloped assets and capitalize on the potential of inactive wells to minimize costs.

Foothills Exploration, Inc. (OTC: FTXP) announces a corporate update for 2022, highlighting advancements in its joint venture with HHE Exploration Technologies. The JV is set to test a hydrogen sensing drone, promoting exploration in natural hydrogen, which offers lower production costs than traditional methods. The successful recompletion of the Houser-Sears well shows initial production around 33 barrels of oil per day. Compliance updates reveal the company is current with financial filings as it aims for uplisting to OTC.QB.

Foothills Exploration, Inc. (OTC: FTXP) is set to present at the Emerging Growth Conference on January 19, 2022. The company's Executive Vice President of Finance, Christopher Jarvis, will present interactive insights during a 30-minute session starting at 11:00 a.m. Eastern time. Investors and interested parties can register to attend live or access an archived version post-event. Foothills focuses on oil and gas exploration, along with initiatives in hydrogen and geothermal energy for a sustainable future. For details, visit www.foothillspetro.com.

Foothills Exploration (OTC: FTXP) has successfully completed the acquisition of an oil and gas operator in the Illinois Basin. This entails acquiring 100% of the membership interest and shares of operating companies and a 5% overriding royalty interest in producing leases. The properties currently yield approximately 25 barrels of oil per day, with potential for doubling production through a scheduled workover program beginning in January. The deal includes acquiring 20 producing wells and 9 inactive wells ready for reactivation.

Foothills Exploration, Inc. (OTC: FTXP) has updated its Wind River Basin project, showcasing successful results from a geochemical survey conducted by Geochemical Insight over 18,000 acres in Wyoming. The findings indicate significant hydrocarbon micro seepages, validating the company's exploration strategy. Further development is planned, including staking wells and completing environmental surveys. The project holds prospective resources of approximately 21 million barrels of oil and 37 billion cubic feet of natural gas, with a PV-10 value of $372 million based on vertical wells.

Foothills Exploration, Inc. (OTC: FTXP) announced a corporate update on November 16, 2021. The company acquired an additional 2,500 acres in the Wind River Prospect, expanding the area to approximately 18,887 acres. Phase 2 of the soil geochemical survey is underway, analyzing 95 samples. The company plans to optimize its operations in Illinois after acquiring 20 oil wells. Additionally, a joint venture with Perspectum Drone Inspection Services aims to develop drone technology for hydrogen and helium detection, crucial for the hydrogen exploration program targeting North and South America.