New #Stocks and #Trading Ideas: (NasdaqCM: $CLNN) (TSXV: $BZ.V) (NYSE: $SBEV) (NasdaqGM: $LOVE) (Nasdaq: $ELYS) (Nasdaq: $SVRE) (NasdaqGM: $HPK)

 New #Stocks and #Trading Ideas: (NasdaqCM: $CLNN) (TSXV: $BZ.V) (NYSE: $SBEV) (NasdaqGM: $LOVE) (Nasdaq: $ELYS) (Nasdaq: $SVRE) (NasdaqGM: $HPK)

 

New Stocks to Watch in #Biotech, #Mining, #Beverage, #Retail, #Gaming, #Automotive and #Energy

 

 

 

Vancouver, Kelowna, Delta, BC, May 9, 2022 – (Investorideas.com Newswire) Investorideas.com, a global news source and expert investing resource, announces its weekly roundup of stocks to watch in Biotech, Mining, Beverage, Retail, Gaming, Automotive and Energy. Today’s stocks have been added to our lists of free stock directories in each sector.

 

Read this in full at https://www.investorideas.com/news/2022/main/05092Stocks.asp

 

This week’s new biotech companies are involved in pharmaceuticals, medical devices and dermatological treatments.

 

The latest mining companies have operations in Canada, while the latest beverage companies include alcoholic and non-alcoholic drinks and sustainable packaging interests.

 

The newest retail companies provide furniture and baby monitors respectively, while the latest gaming company is involved in casinos, online gambling, esport and sports betting.

 

The latest automotive company offers a safety feature to prevent mobile phone use while driving and the newest energy company is involved in oil and gas exploration in Texas.

 

New Stocks added to the Biotech Stocks Directory:

Clene Inc. (NasdaqCM:CLNN) is a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative disease by targeting energetic failure, an underlying cause of many neurological diseases. The company is based in Salt Lake City, Utah, with R&D and manufacturing operations in Maryland.

 

Assertio Holdings, Inc. (NasdaqCM:ASRT) is a specialty pharmaceutical company offering differentiated products to patients utilizing a non-personal promotional model. We have built and continue to build our commercial portfolio by identifying new opportunities within our existing products as well as acquisitions or licensing of additional approved products.

 

Sharps Technology Inc. (Nasdaq:STSS) is a medical device company addressing global issues while engineering a safer future for healthcare providers and people everywhere through compassionate innovation. Sharps Provensa™ is the Company’s premier line of smart safety syringes that eliminate accidental needlestick injuries, prevent needle reuse, and reduce wasted medicine and vaccines—while retaining the intuitive simplicity of traditional syringes.

 

Novan, Inc. (Nasdaq:NOVN) is a specialty dermatology company focused on researching, developing and marketing innovative therapeutic products for skin diseases. Through our acquisition of EPI Health, we sell products for psoriasis, rosacea, dermatosis and acne. Our goal is to deliver safe and efficacious therapies where there are unmet medical needs. We are developing SB206 (berdazimer gel 10.3%) as a topical prescription gel for the treatment of viral skin infections, with a current focus on molluscum contagiosum. We have a pipeline of product candidates using our proprietary nitric oxide-based technology platform, NITRICIL™, to generate new treatments for multiple indications.

 

New Stocks added to the Mining Stocks Directory:

Ashley Gold Corp. (CSE:ASHL) is an early-stage natural resource company engaged primarily in the acquisition, exploration and, if warranted, development of mineral properties. The Corporation’s objective is to conduct an exploration program on its Ashley Gold Property, which the Corporation has an option to purchase. The objective is to conduct an exploration program on the Ashely Property, which covers 17.35km2 in northeastern Ontario within the western Abitibi Greenstone Belt, located 24km west of Matachewan, Ontario.  If the option is exercised in full, the claims will 100% owned by the Corporation.

 

Benz Mining Corp. (TSXV:BZ) brings together an experienced team of geoscientists and finance professionals with a focused strategy to unlock the immense mineral potential of the Upper Eastmain Greenstone Belt in Northern Quebec, which is prospective for gold, lithium, nickel, copper and other high-value minerals. Benz is earning a 100% interest in the former producing high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects in Quebec and owns 100% of the Windy Mountain project. At the Eastmain Gold Project, Benz has identified a combination of over 380 modelled in-hole and off-hole DHEM conductors over a strike length of 6km which is open in all directions (final interpretation of some of the conductors still pending). In 2021, Benz confirmed the presence of visible spodumene in a pegmatite at the Ruby Hill West Project, indicating lithium mineralisation which Benz intends to further explore in 2022.

 

New Stocks added to the Beverage Stocks Directory:

Splash Beverage Group (NYSE:SBEV) an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash’s strategy is to rapidly develop early stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution.

 

Wildpack Beverage Inc. (TSXV:CANS; OTC:WLDPF) is engaged in beverage manufacturing and packaging, operating in the middle market by providing sustainable aluminum can filling, decorating, packaging, and sleeve and label printing services to brands throughout the United States. Wildpack currently operates indirectly through its wholly owned subsidiaries and out of facilities in Baltimore, Maryland, Grand Rapids, Michigan, Atlanta, Georgia, Longmont, Colorado, Sacramento, California and Las Vegas, Nevada with a focus on digital innovation and green ready-to-drink packaging.

 

New Stocks added to the Retail Stocks Directory:

The Lovesac Company (NasdaqGM:LOVE) Based in Stamford, Connecticut, The Lovesac Company is a technology driven company that designs, manufactures and sells unique, high quality furniture derived through its proprietary Designed for Life® approach which results in products that are built to last a lifetime and designed to evolve as our customers’ lives do. Our current product offering is comprised of modular couches called Sactionals, premium foam beanbag chairs called Sacs, and their associated home decor accessories. Innovation is at the center of our design philosophy with all of our core products protected by a robust portfolio of utility patents. We market and sell our products primarily online directly at www.lovesac.com, supported by direct-to-consumer touch-feel points in the form of our own showrooms as well as through shop-in-shops and pop-up-shops with third party retailers.

 

Owlet Baby Care Inc. (NYSE:OWLT) maker of baby monitors, was founded by a team of parents in 2012. Owlet’s mission is to empower parents with the right information at the right time, to give them more peace of mind and help them find more joy in the journey of parenting. Owlet’s digital parenting platform aims to give parents real-time data and insights to help parents feel more calm and confident. Owlet believes that every parent deserves peace of mind and the opportunity to feel their well-rested best.

 

New Stocks added to the Gaming Stocks Directory:

Elys Game Technology, Corp. (Nasdaq:ELYS) is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. Elys offers its clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games and slots in Italy and has operations in five states as well as the District of Columbia in the U.S. market. Elys' vision is to become a global leader in the gaming industry through the development of pioneering and innovative technology. The Company provides wagering solutions, services online operators, casinos, retail betting establishments and franchise distribution networks.

 

New Stocks added to the Automotive Stocks Directory:

SaverOne 2014 Ltd. (Nasdaq:SVRE) a technology company, engages in the design, development, and commercialization of transportation and safety solutions to save lives by preventing car accidents resulting from the use of mobile phones while driving. The company's SaverOne system provides an advanced driver safety solution to identify and monitor mobile phones located in the driver's vicinity and selectively block use of life-threatening applications.

 

New Stocks added to the Energy Stocks Directory:

HighPeak Energy, Inc. (NasdaqGM:HPK) is a publicly traded independent oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of unconventional oil and natural gas reserves in the Midland Basin in West Texas.

 

The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector.

 

About Investorideas.com - News that Inspires Big Investing Ideas

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#Oil/ #NaturalGas #Stocks in the news: FOOTHILLS EXPLORATION (OTC: $FTXP) PROVIDES OPERATIONS UPDATE- 75% increase in production for total operations; @Foothills_FTXP

#Oil/ #NaturalGas #Stocks in the news:  FOOTHILLS EXPLORATION (OTC: $FTXP) PROVIDES OPERATIONS UPDATE- 75% increase in production for total operations; @Foothills_FTXP

 

LOS ANGELES, CA, May 5, 2022–  (Investorideas.com newswire )  Breaking oil and gas stock news - Foothills Exploration, Inc (OTC: FTXP), including its direct and indirect subsidiaries, ("Foothills," or the "Company"), an oil and gas exploration company focused on delivering the energy needs of today and tomorrow, is pleased to announce an operations update for Q1 2022.

 

Read this news, featuring FTXP in full at https://www.investorideas.com/news/2022/energy/05051FTXP-Operations-Update.asp

 

Wind River Basin

On March 9, 2022, the Company acquired an additional 1,960 acres of State leases from the State of Wyoming, to provide additional potential drilling locations in the Wind River Basin. This acquisition brings the Company’s total acreage in the Wind River Basin up to 20,847 acres. The importance of this lease acquisition is that we can expedite a drilling permit on State lands. The Company is still actively pursuing a JV partner and has had discussions with other local operators about sharing the cost of rig mobilization for its proposed drilling program.

 

Illinois Basin

The Company, through its direct subsidiary, Anaconda Energy, LLC, closed on the acquisition of two small oil and gas operators in the Illinois basin on December 28, 2021. The acquisition included all of the assets of the operating companies, including working interests held in certain oil and gas wells and leases and five percent (5%) overriding royalty interest in certain leases and wells. The acquisition also came with 20 oil wells, of which 9 can be worked over.

 

During Q1 2022, the Company performed workover operations on three of the wells, which successful generated a 75% increase in production for total operations. The asset is on track to pay out within ten months. In Q1 2022, the Company’s Illinois Basin properties generated $247,712 in total gross revenues, with net revenues of $107,297 attributable to Anaconda and its subsidiaries.

 

Houser-Sears #4 Well

The Houser-Sears #4 well recompletion in the Aux Vases formation proved successful with the well’s initial production coming in at around 33 barrels of oil per day (“BOPD”), which has stabilized at around 7 BOPD.

 

“Our Illinois operations are a perfect example of the type producing properties we look to acquire. The target acquisition is undervalued, underdeveloped and offers low-risk development with behind pipe potential and field wide optimization opportunities. This combination translates into consistent and predictable cash flow to add to our production base,” said Kevin J. Sylla, the Company’s Executive Chairman.

 

Future Development Opportunities – Illinois

Houser-Sears #6 Well

 

Anaconda Energy has a 50% working interest in the proposed well on the Houser-Sears leasehold. The parties plan to drill a new well to a proposed depth of 3,500 feet in the month of June. This infield drilling location is in a stacked-pay environment with the potential to produce from several pay zones. The primary objectives are the Aux Vases Sand (2,724’), Upper McClosky Limestone (2,800’) and McClosky Dolomites (2,840’). The secondary objectives are the St. Louis Lime (3,150’) and Salem Lime (3,308’). The well is expected to pay back within 180 days of initial production.

 

Dundas Unical Prospect

The Company signed a participation agreement to participate in 50% of the rework operations of the Mark Heat #4 well. The objective is to frac the Aux Vases formation with the expectation of a 30 BOPD initial production. The rework operation is scheduled for the end of Q2 2022.

 

Utah Properties

The Company realized total revenues of $80,529 in January and February 2022 from its 21.7% non-operated working interest in two EOG-operated horizontal wells located in the Uintah Basin of Utah.

 

Oklahoma Project

The Company closed on the acquisition of six wells in Carter and Garvin counties in Oklahoma. Three of the six wells are currently producing and the other three are return to production candidates.

 

“It is our belief that these Oklahoma assets will add value to our production portfolio on day one,” said Alex M. Hemb, CEO of Anaconda Energy, LLC. “The plan is to begin a workover and optimization program within the next 30 days,” said Hemb. “The Company has also identified several leases that meet its criteria for bolt-on acquisitions,” continued Hemb.

 

Repurposing Abandoned Oil and Gas Wells

“Our acquisition of these stripper wells is part of a bigger detailed plan to repurpose these wells at the end of their life into clean energy producers, said Sylla. “Currently there are several pilot projects and emerging new technologies focused on repurposing oil and gas wells to accelerate the energy transition,” continued Sylla.

 

The Company’s New Energy Ventures division is currently in the research phase of its evaluation into the production of green energy by repurposing abandoned oil and gas wells into geothermal wells and also producing hydrogen from abandoned wellbores using emerging new technologies.

 

About the Company

Foothills Exploration, Inc. (“FTXP” or the “Company”), 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 by identifying areas 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.

 

Forward-Looking Statements

 

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 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.

 

Investor Contact

Christopher Jarvis

EVP of Finance

(800) 204-5510

ir@foothillspetro.com

 

Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring FTXP is a paid for news release on Investorideas.com  More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

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#Energy #Stock FOOTHILLS EXPLORATION (OTC: $FTXP) PROVIDES OPERATIONS UPDATE- 75% increase in production for total operations; @Foothills_FTXP

#Energy #Stock FOOTHILLS EXPLORATION (OTC: $FTXP) PROVIDES OPERATIONS UPDATE- 75% increase in production for total operations; @Foothills_FTXP

 

LOS ANGELES, CA, May 4, 2022–  (Investorideas.com newswire )  Breaking oil and gas stock news - Foothills Exploration, Inc (OTC: FTXP), including its direct and indirect subsidiaries, ("Foothills," or the "Company"), an oil and gas exploration company focused on delivering the energy needs of today and tomorrow, is pleased to announce an operations update for Q1 2022.

 

Read this news, featuring FTXP in full at https://www.investorideas.com/news/2022/energy/05041FTXP-Operations-Update.asp

 

Wind River Basin

On March 9, 2022, the Company acquired an additional 1,960 acres of State leases from the State of Wyoming, to provide additional potential drilling locations in the Wind River Basin. This acquisition brings the Company’s total acreage in the Wind River Basin up to 20,847 acres. The importance of this lease acquisition is that we can expedite a drilling permit on State lands. The Company is still actively pursuing a JV partner and has had discussions with other local operators about sharing the cost of rig mobilization for its proposed drilling program.

 

Illinois Basin

The Company, through its direct subsidiary, Anaconda Energy, LLC, closed on the acquisition of two small oil and gas operators in the Illinois basin on December 28, 2021. The acquisition included all of the assets of the operating companies, including working interests held in certain oil and gas wells and leases and five percent (5%) overriding royalty interest in certain leases and wells. The acquisition also came with 20 oil wells, of which 9 can be worked over.

 

During Q1 2022, the Company performed workover operations on three of the wells, which successful generated a 75% increase in production for total operations. The asset is on track to pay out within ten months. In Q1 2022, the Company’s Illinois Basin properties generated $247,712 in total gross revenues, with net revenues of $107,297 attributable to Anaconda and its subsidiaries.

 

Houser-Sears #4 Well

The Houser-Sears #4 well recompletion in the Aux Vases formation proved successful with the well’s initial production coming in at around 33 barrels of oil per day (“BOPD”), which has stabilized at around 7 BOPD.

 

“Our Illinois operations are a perfect example of the type producing properties we look to acquire. The target acquisition is undervalued, underdeveloped and offers low-risk development with behind pipe potential and field wide optimization opportunities. This combination translates into consistent and predictable cash flow to add to our production base,” said Kevin J. Sylla, the Company’s Executive Chairman.

 

Future Development Opportunities – Illinois

Houser-Sears #6 Well

 

Anaconda Energy has a 50% working interest in the proposed well on the Houser-Sears leasehold. The parties plan to drill a new well to a proposed depth of 3,500 feet in the month of June. This infield drilling location is in a stacked-pay environment with the potential to produce from several pay zones. The primary objectives are the Aux Vases Sand (2,724’), Upper McClosky Limestone (2,800’) and McClosky Dolomites (2,840’). The secondary objectives are the St. Louis Lime (3,150’) and Salem Lime (3,308’). The well is expected to pay back within 180 days of initial production.

 

Dundas Unical Prospect

The Company signed a participation agreement to participate in 50% of the rework operations of the Mark Heat #4 well. The objective is to frac the Aux Vases formation with the expectation of a 30 BOPD initial production. The rework operation is scheduled for the end of Q2 2022.

 

Utah Properties

The Company realized total revenues of $80,529 in January and February 2022 from its 21.7% non-operated working interest in two EOG-operated horizontal wells located in the Uintah Basin of Utah.

 

Oklahoma Project

The Company closed on the acquisition of six wells in Carter and Garvin counties in Oklahoma. Three of the six wells are currently producing and the other three are return to production candidates.

 

“It is our belief that these Oklahoma assets will add value to our production portfolio on day one,” said Alex M. Hemb, CEO of Anaconda Energy, LLC. “The plan is to begin a workover and optimization program within the next 30 days,” said Hemb. “The Company has also identified several leases that meet its criteria for bolt-on acquisitions,” continued Hemb.

 

Repurposing Abandoned Oil and Gas Wells

“Our acquisition of these stripper wells is part of a bigger detailed plan to repurpose these wells at the end of their life into clean energy producers, said Sylla. “Currently there are several pilot projects and emerging new technologies focused on repurposing oil and gas wells to accelerate the energy transition,” continued Sylla.

 

The Company’s New Energy Ventures division is currently in the research phase of its evaluation into the production of green energy by repurposing abandoned oil and gas wells into geothermal wells and also producing hydrogen from abandoned wellbores using emerging new technologies.

 

About the Company

Foothills Exploration, Inc. (“FTXP” or the “Company”), 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 by identifying areas 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.

 

Forward-Looking Statements

 

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 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.

 

Investor Contact

Christopher Jarvis

EVP of Finance

(800) 204-5510

ir@foothillspetro.com

 

Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring FTXP is a paid for news release on Investorideas.com  More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

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Sign up for free stock news alerts at Investorideas.com

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Like Oil and Gas Stocks? View our Oil and Gas Stocks Directory  Get News Alerts on Energy Stocks

 

 

 

 

 

Breaking #Oil and #Gas #Stock News - FOOTHILLS EXPLORATION (OTC: $FTXP) PROVIDES OPERATIONS UPDATE- 75% increase in production for total operations; @Foothills_FTXP

 

Breaking #Oil and #Gas #Stock News - FOOTHILLS EXPLORATION (OTC: $FTXP) PROVIDES OPERATIONS UPDATE- 75% increase in production for total operations; @Foothills_FTXP

 

LOS ANGELES, CA, May 3, 2022–  (Investorideas.com newswire )  Breaking oil and gas stock news - Foothills Exploration, Inc (OTC: FTXP), including its direct and indirect subsidiaries, ("Foothills," or the "Company"), an oil and gas exploration company focused on delivering the energy needs of today and tomorrow, is pleased to announce an operations update for Q1 2022.

 

Read this news, featuring FTXP in full at https://www.investorideas.com/news/2022/energy/05032FTXP-Increase-Production.asp

 

Wind River Basin

On March 9, 2022, the Company acquired an additional 1,960 acres of State leases from the State of Wyoming, to provide additional potential drilling locations in the Wind River Basin. This acquisition brings the Company’s total acreage in the Wind River Basin up to 20,847 acres. The importance of this lease acquisition is that we can expedite a drilling permit on State lands. The Company is still actively pursuing a JV partner and has had discussions with other local operators about sharing the cost of rig mobilization for its proposed drilling program.

 

Illinois Basin

The Company, through its direct subsidiary, Anaconda Energy, LLC, closed on the acquisition of two small oil and gas operators in the Illinois basin on December 28, 2021. The acquisition included all of the assets of the operating companies, including working interests held in certain oil and gas wells and leases and five percent (5%) overriding royalty interest in certain leases and wells. The acquisition also came with 20 oil wells, of which 9 can be worked over.

 

During Q1 2022, the Company performed workover operations on three of the wells, which successful generated a 75% increase in production for total operations. The asset is on track to pay out within ten months. In Q1 2022, the Company’s Illinois Basin properties generated $247,712 in total gross revenues, with net revenues of $107,297 attributable to Anaconda and its subsidiaries.

 

Houser-Sears #4 Well

The Houser-Sears #4 well recompletion in the Aux Vases formation proved successful with the well’s initial production coming in at around 33 barrels of oil per day (“BOPD”), which has stabilized at around 7 BOPD.

 

“Our Illinois operations are a perfect example of the type producing properties we look to acquire. The target acquisition is undervalued, underdeveloped and offers low-risk development with behind pipe potential and field wide optimization opportunities. This combination translates into consistent and predictable cash flow to add to our production base,” said Kevin J. Sylla, the Company’s Executive Chairman.

 

Future Development Opportunities – Illinois

Houser-Sears #6 Well

 

Anaconda Energy has a 50% working interest in the proposed well on the Houser-Sears leasehold. The parties plan to drill a new well to a proposed depth of 3,500 feet in the month of June. This infield drilling location is in a stacked-pay environment with the potential to produce from several pay zones. The primary objectives are the Aux Vases Sand (2,724’), Upper McClosky Limestone (2,800’) and McClosky Dolomites (2,840’). The secondary objectives are the St. Louis Lime (3,150’) and Salem Lime (3,308’). The well is expected to pay back within 180 days of initial production.

 

Dundas Unical Prospect

The Company signed a participation agreement to participate in 50% of the rework operations of the Mark Heat #4 well. The objective is to frac the Aux Vases formation with the expectation of a 30 BOPD initial production. The rework operation is scheduled for the end of Q2 2022.

 

Utah Properties

The Company realized total revenues of $80,529 in January and February 2022 from its 21.7% non-operated working interest in two EOG-operated horizontal wells located in the Uintah Basin of Utah.

 

Oklahoma Project

The Company closed on the acquisition of six wells in Carter and Garvin counties in Oklahoma. Three of the six wells are currently producing and the other three are return to production candidates.

 

“It is our belief that these Oklahoma assets will add value to our production portfolio on day one,” said Alex M. Hemb, CEO of Anaconda Energy, LLC. “The plan is to begin a workover and optimization program within the next 30 days,” said Hemb. “The Company has also identified several leases that meet its criteria for bolt-on acquisitions,” continued Hemb.

 

Repurposing Abandoned Oil and Gas Wells

“Our acquisition of these stripper wells is part of a bigger detailed plan to repurpose these wells at the end of their life into clean energy producers, said Sylla. “Currently there are several pilot projects and emerging new technologies focused on repurposing oil and gas wells to accelerate the energy transition,” continued Sylla.

 

The Company’s New Energy Ventures division is currently in the research phase of its evaluation into the production of green energy by repurposing abandoned oil and gas wells into geothermal wells and also producing hydrogen from abandoned wellbores using emerging new technologies.

 

About the Company

Foothills Exploration, Inc. (“FTXP” or the “Company”), 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 by identifying areas 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.

 

Forward-Looking Statements

 

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 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.

 

Investor Contact

Christopher Jarvis

EVP of Finance

(800) 204-5510

ir@foothillspetro.com

 

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