Foothills Exploration, Inc., including its direct and indirect subsidiaries, an oil and gas exploration company, today announced that it has been granted access to the OTC Disclosure & News Service. This marks an important step for the Company towards becoming current on the OTC Pink Sheets and ultimately management’s intended upgrade back to the OTCQB.
Compliance Update
The Company filed its 2019 Annual Report and Attorney Letter with Respect to Current Information with OTC Markets on June 22, 2021. This is the first in a series of steps the Company is undertaking towards ultimately upgrading its listing back onto the OTCQB. The law firm Foley Shechter Ablovatskiy LLP is guiding the Company through the process. The Company intends to continue filing its financial statements in sequential order expects to make all necessary filings to become “current.”
Corporate Update
The Company is actively looking at the acquisition of oil and gas properties with long-lived reserves and upside drilling opportunity. The Company’s Wind River Basin program is still undergoing geological delineation to determine the optimal drilling location. A third-party engineering report of the Company’s interest in 16,387 acres located in the Wind River Basin, Wyoming, known as the Beaver Creek East Project, indicates Prospective Resources of approximately 21 million barrels of undiscovered oil, with a PV-10 value of $372 million (after risk). The Company plans to pursue opportunistic drilling opportunities along with an aggressive acquisition program for the remainder of 2021.
