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Foothills Exploration, Inc. (OTC: FTXP) announced a letter of intent to acquire an oil and gas operator in the Illinois Basin. The deal involves acquiring 100% of membership interests and shares of the operating companies, along with a 5% overriding royalty interest in specific leases. Current production stands at 25 barrels of oil per day, with the potential to double following work on 9 inactive wells. The acquisition aims to enhance operational efficiency and cash flow, leveraging low-cost remedial work in the high-price oil market.
Foothills Exploration (OTC: FTXP) announced a participation agreement with Benchmark Properties to develop the Ste Marie West Prospect in Jasper County, Illinois, acquiring a 50% working interest in the Sears-Houser #4 well. The agreement involves covering 50% of rework costs, aiming for recompletion in the Aux Vase Sand. The Illinois Basin, where the project is located, has a rich history of oil production. Foothills plans to leverage its partner's extensive experience to identify further opportunities in the Basin and enhance production efficiency.
Foothills Exploration, Inc. (OTC: FTXP) has announced its participation in the Emerging Growth Conference scheduled for October 27, 2021. The event will feature a real-time presentation by Executive Vice President of Finance, Christopher Jarvis, at 1:45 p.m. Eastern time. Attendees will have the opportunity to engage with the company and ask questions. For those unable to attend live, an archived webcast will be available post-event. This conference serves as a platform for public companies to present their growth initiatives and engage with individual and institutional investors.
Foothills Exploration, Inc. (OTC: FTXP) announced the engagement of a registered public accounting firm and a binding memorandum of understanding (MOU) with Pristine Energy, Inc. to explore natural hydrogen in Canada. The MOU allows New Energy Ventures to invest up to $7.5 million for a 75% interest in the White Lightening Prospect. Additionally, Foothills plans to resume trading on the OTCQB after re-engaging its auditor to comply with SEC regulations. The company is also evaluating potential acquisitions of producing oil and gas properties, aiming to enhance its asset portfolio.
Foothills Exploration, Inc. (OTC: FTXP) announced its participation in the Emerging Growth Conference on September 15, 2021. The event will offer real-time interaction for individual and institutional investors as well as advisors and analysts. Vice President Tara Roberts will present on the company's initiatives, focusing on oil and gas exploration and low-carbon energy projects. The presentation is scheduled for 1:15 p.m. Eastern time, lasting 30 minutes. Attendees can register online and access an archived webcast if unable to join live.
Foothills Exploration, Inc. (OTC: FTXP) announced a corporate and operational update on August 4, 2021, highlighting the successful completion of its Phase I compliance initiative. The company filed multiple financial reports to achieve OTC Pink Current status ahead of schedule and is working towards uplisting to OTC.QB. Additionally, Foothills is evaluating production opportunities in the U.S. and developing a deep hydrogen observatory project through its New Energy Ventures subsidiary, aimed at enhancing the global energy transition.
Foothills Exploration, Inc. (OTC: FTXP) has announced its participation in the Emerging Growth Conference on August 4, 2021. This interactive event will enable investors and analysts to engage with Executive Chairman Kevin J. Sylla during his presentation scheduled for 12:00 p.m. Eastern time. Participants can submit questions in real-time, and a recorded version of the session will be available afterwards. The Emerging Growth Conference aims to highlight the potential of growth companies in various sectors.
Foothills Exploration, Inc. (OTC: FTXP) announced a partnership through its subsidiary, New Energy Ventures, with Perspectum Drone Inspection Services to develop drone-based detection technology for natural hydrogen and helium. This collaboration aims to commercialize this early-stage technology, contributing to energy efficiency and carbon reduction goals. The hydrogen sector is predicted to grow significantly, potentially reaching $11 trillion by 2026. Meanwhile, helium production faces challenges, with prices soaring due to shortages, providing NEV an opportunity to explore new reserves.
Foothills Exploration, Inc. (OTC: FTXP) has provided an operations and compliance update, announcing the filing of its Q1 and Q2 2020 Quarterly Reports with OTC Markets. The company is working towards achieving OTC Pink Current tier status. It is engaged in evaluating production and exploration opportunities in the Wind River Basin, as oil prices rebound. Additionally, Tara Roberts has been appointed CEO of the New Energy Ventures division, focusing on sustainability. The firm has also settled and retired its outstanding notes with Odyssey Capital, improving its balance sheet.
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