Foothills Exploration Inc [OTCPink: FTXP] stock spiked 26.32% to $0.0024 at the previous close. Foothills stock recorded a Volume of 2.15B compared to 330.58M of daily average volume in the past 30 days. FTXP stock fluctuated between $0.0002 and $0.0155 in the past 52 weeks. FTXP stock surged following disclosure of corporate updates.
FTXP has updated what?
Foothills focuses on delivering today’s and tomorrow’s energy needs through the exploration and development of oil and gas. Through two core initiatives, FTXP intends to build a portfolio of assets that is balanced. As part of its first initiative, FTXP will identify and develop high-impact oil and gas exploration projects.
Second, FTXP’s New Energy Ventures division has identified areas where it can contribute to a viable, realistic, and balanced mix of energy solutions in the future through investment in hydrogen and geothermal.
Foothills has gained access to the OTC Disclosure & News Service, announced the company in a press release yesterday. The FTXP’s move to the OTC Pink Sheets marks an important step toward management’s intention to upgrade back to the OTCQB.
Compliance Update
- On June 22, 2021, FTFXP filed its 2019 Annual Report as well as its attorney letter with OTC Markets.
- As part of its strategy to ultimately return to OTCQB listing, FTXP is taking this first step.
- FTXP is being assisted in the process by the law firm Foley Shechter Ablovatskiy LLP.
- Accordingly, FTXP intends to file its financial statements sequentially and expects to be “Current” by the end of the year.
Corporate Update
- FTXP is actively seeking for petroleum properties that offer their own unique upside drilling opportunities as well as long-term reserves.
- For FTXP’s Wind River Basin project, geological delineation is still being conducted in order to determine the most appropriate drilling site.
- Third-party engineering reports estimate that FTXP’s Beaver Creek East Project, a 16387-acre tract located in Wyoming’s Wind River Basin, contains approximately 21 million barrels of undiscovered oil, with a PV-10 value of $372 million (after risk).
- As part of its strategic drilling and acquisition plans for the rest of 2021, FTXP will target opportunistic drilling opportunities.
FTXP participating actively:
Foothills Exploration (FTXP) also attended the Emerging Growth Conference yesterday. A real-time, interactive presentation was held by FTXP at the Emerging Growth Conference for individual investors, institutional investors, advisors, and analysts. Mr. Kevin J. Sylla, FTXP’s Executive Chairman, was available for live, interactive interaction with current shareholders and investment community members throughout the event.
