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Stock News; FOOTHILLS EXPLORATION (OTCQB: $FTXP) @Foothills_FTXP ANNOUNCES
FORMATION OF ADVISORY BOARD AND APPOINTMENT OF DANIEL KUNZ AS INAUGURAL MEMBER
LOS
ANGELES, CA, February 26, 2019 – (Investorideas.com Newswire) Foothills
Exploration, Inc. (OTC.QB: FTXP) (the
“Company,” or “Foothills”), an independent oil and gas exploration company
engaged in the acquisition and development of natural gas and oil properties in
the Rockies today announced the formation of an independent Board of Advisors
(“Advisory Board”) and the appointment of Daniel Kunz as its inaugural member.
“We
believe that Mr. Kunz’s extensive public company experience and his knowledge
of the natural resources industry, combined with his familiarity of global
capital markets, will bring tremendous value to the Company and aid in our
success,” said Kevin Sylla, the Company’s Executive Chairman. “We hope to leverage
Mr. Kunz’s international experience and business acumen as we continue to
analyze and evaluate new opportunities”, added Sylla. “The formation of an
Advisory Board extends the focus of both the Board and management, as we work
to build a portfolio of quality natural gas and oil assets with valuable
reserves and significant development potential,” continued Sylla. "Each
member of the Advisory Board will bring incredible knowledge and experience,
producing an immediate impact on Foothills.
This
signals our continued commitment to grow the Company, which is capable of
creating significant shareholder value, by bringing the brightest minds and
best talent available to maximize our strategy of acquiring new properties,
with a particular focus on natural gas," ended Sylla.
FTXP Advisory Board
The
Advisory Board’s primary purpose is to provide senior management and the Board
of Directors with strategic advice on the implementation and execution the
Company’s natural gas acquisition strategy and the pathway to eventually up-listing
to the Nasdaq or NYSE. The Advisory Board will also provide advice and recommendations
to senior management and the Board of Directors regarding strategy and
opportunities to enhance value. The Advisory Board will be comprised of at
least three independent members, each with extensive natural resources and
capital markets experience, to serve as resources that will allow the Board of
Directors to make more effective business decisions.
About Daniel Kunz
Daniel
Kunz has more than 25 years’ experience navigating the complexities of global financial
markets, while significantly growing shareholder value. Mr. Kunz has a
distinguished career in national and international construction, engineering,
geothermal energy, mining and natural resource development. He has extensive senior
management and corporate governance experience with public companies. Mr. Kunz
is currently Managing Partner of Daniel Kunz & Associates, LLC, a natural resource-focused
consulting firm and he is also a member of the board of directors of several
natural resource exploration and development companies, including chairman of
the audit committee of Silver Bull Resources, Inc. (OTCMKTS: SVBL).
From
its inception in 2003 until mid 2013, Mr. Kunz served as President, Chief
Executive Officer and Director of U.S. Geothermal, Inc., which was recently acquired
by Ormat Technologies (NYSE: ORA) for $110 million. U.S. Geothermal, Inc. is an
independent power producer with three owned and operated binary-cycle plants that
produce 45 MWs of base load power. As a founder of and key investor in U.S.
Geothermal, Mr. Kunz positioned the company for growth in clean electric power
generation, hired and led an operating team that constructed the first
commercial geothermal power plant in Idaho and the Pacific Northwest, and grew
the company into a profitable, sustainable enterprise.
During
the mid 1990s to the mid 2000s, Mr. Kunz was a senior executive and then President
and director of Ivanhoe Mines, Ltd., now called Turquoise Hill Resource Ltd
(NYSE: TRQ), and was part of the management team that discovered Oyu Tolgoi in
Mongolia, one of the world’s largest copper-gold deposits. During Mr. Kunz’s nearly
8-year tenure at Ivanhoe, the market capitalization value increased from $400
million to $4 billion.
In
1995, the University of Montana Tech (formerly the Montana College of Mineral
Science and Technology) named Mr. Kunz as a Distinguished Alumni of the Year.
He earned B.Sc. in Engineering Science from Montana Tech and an MBA from Boise
State University.
About the Company
Foothills
Exploration, Inc. is a growth stage oil and gas exploration and production
(E&P) company with a focus in the acquisition and development of undervalued
and underdeveloped properties in the Rockies. The Company’s principal assets
are located across well-established plays in the U.S. Rocky Mountain region. 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.
Investor Contact
Christopher
Jarvis
(424)
901-6655
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