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Foothills Exploration, Inc. (OTC: FTXP) has achieved significant progress in addressing its financial obligations by settling and retiring most of its variable-rate convertible notes. Over 100 days, the company repaid $1.6 million to retire 10 notes, effectively reducing the risk of future shareholder dilution. This move eliminates potential conversions at a discount to current stock price, as future obligations will involve fixed-rate notes. The company aims to streamline its balance sheet to enhance growth prospects for the remainder of 2021.
Foothills Exploration, Inc. (OTC: FTXP) announced its access to the OTC Disclosure & News Service, a key step towards regaining current status on the OTC Pink Sheets and aiming for an upgrade to OTCQB. The Company submitted its 2019 Annual Report on June 22, 2021, and plans to ensure all financial filings are sequentially completed.
Additionally, Foothills is exploring oil and gas acquisitions and continues geological assessments in the Wind River Basin, with a report indicating potential resources of 21 million barrels of oil valued at $372 million.
Foothills Exploration, Inc. (OTC: FTXP) announced its participation in the Emerging Growth Conference on June 23, 2021. The Company invites all investors, analysts, and advisors to attend a live, interactive presentation at 11:30 a.m. Eastern Time, featuring Executive Chairman Kevin J. Sylla. This 30-minute presentation will allow attendees to engage directly with the Company and ask questions. An archived webcast will also be available post-event. Foothills is focused on natural gas exploration, with significant assets in the Wind River Basin, Wyoming.
Foothills Exploration, Inc. (OTC: FTXP) will present at the Emerging Growth Conference on April 14, 2021, at 12:00 p.m. ET. The real-time presentation, led by Christopher C. Jarvis, EVP of Finance, will last 20 minutes, followed by a 10-minute Q&A session. Investors are encouraged to register for the event and can access an archived webcast later if unable to attend live. Foothills focuses on natural gas exploration and holds approximately 16,000 acres in Wyoming's Wind River Basin.
Foothills Exploration, Inc. (OTC: FTXP) announced its submission of the OTCIQ Order Form to join the OTC Disclosure & News Service, aiming to become current on the OTC Pink Sheets. This step is part of a broader plan to upgrade to the OTCQB tier within 60 days. The company is focused on enhancing its business model and pursuing strategic opportunities in oil and gas exploration, specifically targeting natural gas in the Wind River Basin, Wyoming, covering approximately 16,000 acres.
Foothills Exploration, Inc. (OTC: FTXP) has announced a new subsidiary, New Energy Ventures, focused on sustainable energy solutions. The subsidiary aims to collaborate with innovative teams to develop technologies in power generation and oil field clean-tech, particularly in carbon capture and hydrogen production. The company recognizes the ongoing demand for oil and gas while adapting to zero-carbon initiatives. Additionally, Foothills is committed to complying with SEC regulations and addressing its debt issues to enhance shareholder value.
Foothills Exploration (OTC: FTXP) has announced its commitment to become compliant with OTC Pink Sheets by June 30, 2021, in line with SEC regulations. The company aims to enhance its balance sheet by settling its variable rate convertible debt, including agreements with Power Up Lending Group and FirstFire Global Opportunities Fund, to improve shareholder value and minimize dilution risks. Additionally, Foothills secured financing of $535,000 through a convertible promissory note. Executive Vice President Christopher Jarvis will present at the Q1 Investor Summit from March 23-25, 2021.
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