Vicenus 1-3 is the second well drilled in a previously announced two well program. Testing on the first well, Foothills California Christiansen 3-15, should begin later this week after work on the Vicenus well is complete and the well is turned over to production.
Foothills Resources President, John Moran stated, "Foothills commenced its present business activities less than five months ago so we are very pleased to have our first gas production test at this early stage in our growth. We believe that this test from the Foothills Vicenus 1-3 well begins to demonstrate the exceptional potential that is present in the Eel River basin of northwestern California. We are planning for a lot of activity in this basin and are looking forward to the challenge."
Foothills Resources, Inc. is a growth oriented independent energy company engaged in the acquisition, exploration, exploitation and development of oil and natural gas opportunities. Its present business activities commenced in April 2006, following the concurrent completion of a reverse merger transaction and a private placement financing.
Our business strategy is to identify and exploit low-to-moderate risk resources in and adjacent to existing or indicated producing areas that can be quickly developed and put on production, including the acquisition of producing properties with exploitation and exploration potential in these areas. We will also take advantage of our expertise to develop exploratory projects in focus areas and to participate with other companies in those areas to explore for oil and natural gas using state-of-the-art 3D seismic technology. Our management will use its extensive domestic and international oil and gas experience and our relationship with the well known energy consulting group Moyes and Co., Inc. to establish and grow the Company.
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