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Good point! FTRS does look like it has a chance of a merger, waiting for some more PR, in the mean time, trying to pick up some more shares.
You had asked earlier why FTRS PR'd the firm that was hired to help them with the debt. I know think it may be because FTRS may either get acquired or sell some assets for cash. Why else hire an investment bank that speciliazes in M&A deals. If it was to sell shares to raise capital then you would get an accounting firm. This is great news now that I have done some DD.
This is from the PR on 8/15/08
The restructuring plan is expected to consider a range of strategic alternatives, which may include a sale of a portion of the Company's assets, a merger or other business combination, or the issuance of equity or other securities, in connection with the repayment of all or a portion of the Company's obligations under the Credit Facility.
Knights of the Round Table
http://investorshub.advfn.com/boards/board.aspx?board_id=13003
Glad I picked up some more cheapies at 12 today! FTRS will take off if there is a buyout in the works.
FTRS has had a lot of buys today, looking for a nice jump on Tuesday IMO.
FTRS Buyout in the works?!?!
The firm that FTRS hired is an investment bank that specializes in M&A Advisory services.
Jim Parkman and Graham Whaling have formed energy investment-banking and M&A advisory firm Parkman Whaling LLC in Houston.
Parkman was a founder in 1989 of investment-banking and M&A advisory firm Petrie Parkman & Co., which was sold in 2006 to Merrill Lynch. Previously, he was with First Boston Corp. and the Federal Reserve Bank.
Whaling was a founder of Houston-based, EnCap Investments LP-funded E&P company Laredo Energy, which developed and sold assets in South Texas three times in the past six years: twice to Chesapeake Energy Corp. and once to El Paso Corp.
Previously, he was chairman of producer Michael Petroleum Corp., chairman and chief executive of Monterey Resources, a spin-out of Santa Fe Energy of which he was chief financial officer, and was with Lazard Freres & Co. and CS First Boston.
Parkman and Whaling can be reached at 713-333-8400.
I am very encouraged by all the buying at the ask. That is two solid days of that. Volume is all we need.
WEED back on teh Ask again. Looks like they weren't done. Hopefully they don't park it all day again. Nice bug buy on the ask though.
FTRS News
Foothills Resources, Inc. Engages Parkman Whaling LLC as Advisor
Aug 29, 2008 08:30:00 (ET)
BAKERSFIELD, Calif., Aug 29, 2008 /PRNewswire-FirstCall via COMTEX/ -- Foothills Resources, Inc. (FTRS, Trade ) (the "Company") today announced that it has engaged Houston-based Parkman Whaling LLC for the purpose of assisting the Company in exploring strategic alternatives as well as developing and facilitating a plan of restructuring.
As previously announced, Foothills is currently in default under its existing credit facility. The lenders under the credit facility have agreed to forbear the exercise of remedies under the facility until September 15, 2008. The plan of restructuring is expected to provide for specific courses of action by the Company, as well as a specific timeline, with a view toward curing the default or restructuring the credit facility.
The Company does not intend to disclose developments with respect to any potential strategic alternatives unless and until its Board of Directors has made a decision regarding a specific course of action.
About Foothills Resources, Inc.
Foothills Resources, Inc. is a growth-oriented independent production and exploitation energy company with operations and opportunities in Texas, California and Oklahoma. Additional information on Foothills Resources is available at http://www.foothills-resources.com .
SEC Filings and Forward-Looking Statements
Knights of the Round Table
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Thank you crable, I will read up on it later tonight. I plan on taking a position and will be in touch.
Regards
TD23, you still in this? Looking for a big week next week. Nice early spot. I saw you post it on a few boards when I was doing my DD.
Welcome back in Sheepdog. The pinch working should give us a nice pop. The chart set up great today. I think we have played some other stocks together as well. Good luck to you!!
The pps drop was caused by a couple of things. A bad earnings report due to underperformance on a couple of wells and the fact that they are in the process of refinancing some things. IMO the market overreacted and now we will see a correction on the pinch. There was a good PR recently that explains the financial issues.
Back in this one...she moves nice. Off .12 to 16 for me last time. Hard to say what they will do next.... watch those buy orders. How's this for cosmic... 10 cents to 20 cents... 10 day to the 20 day.. L
Gotta admit this one looks prime for the pickings. I am looking into the Goose Creek Fields over in Harris County and hear its a bonanza in Oil & Gas reserves.
My only question. Why the depressed share price? tia
OBV turned up today. ADX +DI also turned north and should cross 10 tomorrow. The MA(5) should cross the MA(10) tomorrow or Monday and the RSI should cross out of oversold tomorrow. MFI also slowly moved up, but still well into oversold territory. Volume is our key as the pincher is looking very nice.
14 CLOSE!!! Sweet! FTRS!!!
You are right, a 14 close! Very nice. Up we go!
14s getting crushed!
WEED is finally off the ask. Maybe a 14 close?
Ask is getting some nice hits here today. WEED still on thouhg. Some institution is selling, but being nice by doin it at the ask.
Thanks! Nice and steady she goes...!
Agreed we are early days here. Best of luck to you as well!
Tried to get some at 0,12$ but could not get them. And IMO they can only get UP now, so I slapped the ask!
We are early inn this, will get some attention soon IMO.
God luck to you Crable.
greetzz
Ahh that was your buy I just saw pop. Nice!
Yust get some 25K at 0,13$. I see potential in here!!
Strong buys in the 2:00 hour. Need to get WEED off the ask and we can run.
FTRS Ownership Structure
Institutional - 31.6%
Mutual Fund - 6.69%
Insiders - 26.0%
FTRS Institutional Ownership
Name Shares Held Position Value % of Total
Holdings Outstanding
Shares Owned Investment Style
Bosche (W Kirk) 3.2 M $2.9 M 16.89 40.41% Low
Goehring (Ralph J) 80.0 K $72.8 K 0.42 1.00% Low
Goldman Sachs Asset Management... 3.3 M $2.7 M 17.45 37.61% Moderate
Knuettel (Frank P) 71.4 K $65.0 K 0.37 0.89% Low
Melman (David A) 50.0 K $45.5 K 0.26 0.63% Low
Moran (John L) 4.7 M $4.3 M 24.56 58.77% Low
Moustakis (Michael L) 93.0 K $84.6 K 0.49 1.16% Low
Moyes (Christopher P) 1.5 M $1.4 M 8.00 19.15% Low
Tower (Dennis B) 4.8 M $4.3 M 24.87 59.50% Low
U.S. Global Investors, Inc. 1.3 M $1.0 M 6.69 14.43% High
FTRS a Vegas Hot Stock pick
http://www.vegashotstocks.com/vegas_hot_slot_picks.php
Came across this on a scan and saw you were posting on it...this really looks like a great scan, FTRS looks great.
>
Master I don't know, perhaps more like a recent Padawan graduate...lol
Just trying to follow you Jedi Masters to the promise land!
Yeah should be a nice pop here. We seem to be on a lot of winning plays together, so glad to see you on board!
Thanks for the chart, this one looks good. I went ahead and loaded up, can't wait for the ride.
Added BM
stock are tight on this one only a few are being shuffled around. This pop is starting and it will keep going into .22-.23 IMO
It's pinching but doesn't look like much of a break out
Looking good in @ 12....... pop o matic!!
Your stock looks like it is pinching. Looking for a pop here at .12
Yeah, i'm taking a wait and see before buying more to average down my cost basis
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Foothills Resources, Inc.
Address:
Canadiana Lodge
Wellfield Close, Coad's Green
Launceston
Cornwall, PL15 7LR
United Kingdom
Phone: +44 1566 782 199
Company website: http://www.foothills-resources.com
SEC filings: http://www.pinksheets.com/quote/filings.jsp?symbol=FTRS
From 10-Q 8/18/08:
Preferred Stock: A/S 25,000,000 - O/S 0
Common Stock: A/S 250,000,000
Common Stock: O/S 60,557
Float: 45,800,000
Ownership Structure as of 8/28/08:
Institutional - 31.6%
Mutual Fund - 6.69%
Insiders - 26.0%
Reserve and Production Potential http://www.investorshub.com/boards/manage_msg.asp?message_id=15062463
Operations Overview http://www.investorshub.com/boards/manage_msg.asp?message_id=15062474
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