Foothills Exploration, Inc. Discusses Potential of Wind River Basin Project and New Energy Ventures Subsidiary with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - August 31, 2021) - The Stock Day Podcast welcomed Foothills Exploration, Inc. (OTC Pink: FTXP) ("the Company"), an oil and gas exploration and development company focused on delivering the energy needs of today and tomorrow. Executive Vice President of Finance, Chris Jarvis, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "Foothills Exploration Inc. is a growth-stage oil and gas company focused on natural gas exploration and development," said Jarvis. "Our company's principal asset is in the Wind River Basin of Wyoming, which consists of approximately 16,000 acres of highly prospective development acreage," he shared. "Our key initiative is to generate high impact exploration projects focused on oil and natural gas."
"How do you see the price of oil and gas over the next twelve months?" asked Jolly. "With the Delta Variant traveling around the globe, the outlook has become a bit murkier," said Jarvis. "If you take the Delta Variant out of the equation, and just discuss the first half of 2021, it paints a bullish picture," he explained. "The recent catalyst behind the steady rise for oil prices in 2021 has been the global rebound in demand."
"In regards to natural gas prices, fundamentals have been very bullish," continued Jarvis. "In addition, which is a big caveat, the forecasters are calling for a mild winter. If this year's winter heating system is normal or colder than expected, it would just be a catalyst for higher prices."
The conversation then turned to the challenges facing the EV market, especially in regards to lithium shortages. "Even if they can find enough lithium and the battery capacity, the supply is not going to be there so the price is going to go through the roof," said Jarvis. "I do not see it replacing gasoline powered cars anytime soon."
"Are you currently exploring any new properties?" asked Jolly. "Our big home run, if you will, is our Wind River Basin property," said Jarvis. "We're looking to secure industry partners to develop this property," he added. "We're also looking to capture and acquire 3D seismic to develop a four well drilling program to prove up our acreage," said Jarvis. "The company is very excited about our Wind River Basin asset's ability to unlock significant value."
"We had a recent third-party engineering study on the Wind River Basin asset that indicated 18 million in barrels of oil and 32 million cubic feet of natural gas," shared Jarvis. "The biggest takeaway from this study is that the estimated PV10 value is $372 million. So, we believe this is a significant number for a company of our size and we are actively looking to develop the asset."
"What is your time frame in terms of exploration for that property?" asked Jolly. "It is our core focus for this year," said Jarvis. "We're looking for a joint venture or industry partners to come in and do this four well program," he said. "We're excited and it is definitely a focus over the near term."
The conversation then turned to SEC compliance. "We are up-to-date on our filings," said Jarvis. "We just filed our Q2 2021 report and we put an application in there and are waiting to hear back," he shared. "For the second half of the year we're going to get all of those reports audited as well."
"How has Foothills Exploration positioned itself to move forward with the landscape of energy going green?" asked Jolly. "We announced the formation of a new subsidiary named New Energy Ventures LLC," said Jarvis. "We're aiming to participate in the transformation of the energy sector," he added. "The key is to protect our national security and provide a reliable and efficient source of energy."
To close the interview, Jarvis encouraged listeners and shareholders to keep up-to-date on the Company's upcoming announcements as they continue to advance their Wind River Basin project and New Energy Ventures subsidiary.
To hear Foothills Exploration's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7933280-foothills-exploration-inc-discusses-potential-of-wind-river-basin-project-and-new-energy-ventur.
About the Company
Foothills Exploration, Inc. (OTC Pink: FTXP), is an oil and gas exploration and development company focused on delivering the energy needs of today and tomorrow. The Company's strategy is to build a balanced portfolio of assets through two core initiatives. The first initiative is to generate high-impact oil and gas exploration projects. The second is to invest in hydrogen and geothermal projects for a low carbon future through its New Energy Ventures division, with a mandate to identify where the Company can contribute to a viable, realistic, and balanced future energy mix. For additional information please visit the Company's website at www.foothillspetro.com.
All statements, other than statements of historical facts, included in this release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on certain assumptions we made based on management's experience, perception of historical trends and technical analyses, current conditions, capital plans, drilling plans, production expectations, our ability to raise adequate additional capital, or enter into other financing arrangements to support our acquisition, development and drilling activities, anticipated future developments, and other factors believed to be appropriate and reasonable by management. When used in this release, words such as "will," "possible," "potential," "believe," "estimate," "intend," "expect," "may," "should," "anticipate," "could," "plan," "predict," "project," "profile," "model," "strategy," "future" or their negatives or the statements that include these words or other words that convey the uncertainty of future events or outcomes, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. In particular, statements, express or implied, concerning our future operating results and returns or our ability to acquire or develop proven or probable reserves, our ability to replace or increase reserves, increase production, or generate income or cash flows are forward-looking statements.
Forward-looking statements are not guarantees of performance. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. As a result, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. We have had sporadic and limited revenue and our securities are subject to considerable risk. Investors are cautioned to review FTXP's filings with the Securities and Exchange Commission and OTC Markets for a discussion of risk and other factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
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