Oil and gas exploration firm, Foothills Exploration (OTCMKTS:FTXP), have announced a number of operational and compliance updates on July 14. The company filed its second quarter and first quarter reports in previous two days where it said that the management is working towards completing and filing all pending annual reports for the OTC Pink Current tier sometime in future.
The firm also provide updates on its continuing work related to geological delineation of the Wind River Basin properties. Kevin J. Sylla, the Company’s Executive Chairman, said that the firm is optimistic on unlocking value with the rebound in oil prices. Sylla added that prospects on its newly created ‘New Energy Ventures division’ are good and Ms Tara Roberts taking over CEO of new division.
The company also signed a letter of intent with Perspectum Drone Inspection Services Ltd for creating and funding a new enterprise in order to develop and commercialise PDIS’s drone-based natural hydrogen and helium detection technology. The two firms jointly collaborate on developing early stage technology, produce a working protypeas well as refine the business model for commercialization.
Tara Roberts said that this would facilitate a low carbon future as the company aims to partnerwith talented entrepreneurial management teams for developing technologies protecting planet and reducing carbon footprint.
Market Reaction:
On Friday, FTXP stock went up 7% at $0.0023 with more than 2.13 billion shares, compared to its average volume of 213.77 million shares. The stock had moved within a range of $0.0019 – 0.0045 after opening the trade at $0.0021. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0155.
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