Foothills Exploration Inc (FTXP)

[BeamMeUpScotty]

This company’s reserves are valued at $24 right now based on an independent research report and the current number of outstanding shares - so that’s not just the float.

Ok actually the valuation of the recoverable gas reserve is $1.98bn

As seen in the independent report at the bottom of this press release

https://www.otcmarkets.com/stock/FTXP/news/FOOTHILLS-EXPLORATION-INC-PROVIDES-UPDATE-AND-ANNOUNCES-RESERVES-FOR-RECENTLY-ACQUIRED-GREEN-RIVER-BASIN-ASSETS?id=243257

Please also note that in the above press release they talk about the reworking of existing wells wich have improved/ increased production by as much as 40% after the reworking.

So the actual value of the gas reserves alone is actually $1.98bn divided by 82m which is actually $24.14 a share.

That doesn’t include the financials from the reworking of wells acquired earlier in the year.

Reworking of those wells has increased production by as much as 40% and in the company’s own words has exceeded their expectations!

See this extract from the press release:

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Update

The Company has successfully increased production by as much as 40% on certain wells since acquiring the properties earlier this year. The asset has exceeded the Company’s expectations and management sees tremendous opportunity to continue optimizing production. The wells are currently shut-in and in need of a new compressor to resume production. The Company is currently preparing for winter operations when Foothills realizes a premium in the range of $1.50 to $3.00 per Mcf for natural gas sold for a portion of its production. The Company is working on project financing for its next phase of its field-wide optimization and development program.
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See the press release for yourself folks, do the math you will come to the same conclusion that I did!


https://www.otcmarkets.com/stock/FTXP/security