FOOTHILLS RES INC

Foothills Resources, Inc. Provides Operational Update 2006-12-07 07:00 ET - News Release BAKERSFIELD, Calif., Dec. 7 /PRNewswire-FirstCall/ -- Foothills Resources, Inc. today provided an update on current operating activities and future plans. California In early November, approval was received from Humboldt County authorities for acquisition of a 3D seismic survey over the Grizzly Bluff natural gas field in the Eel River Basin in northwest California. Surveying and shot-hole drilling are underway with seismic data acquisition expected to begin later this month. The seismic survey is expected to provide key information for locating future development and exploration wells, including the deeper exploratory Grizzly Bear prospect which the Company anticipates drilling as part of an active seven well drilling program at Grizzly Bluff in 2007. A dehydration unit was recently installed at the Christiansen 3-15 well and another is being installed at the Vicenus 1-3 well. These wells were drilled in the Grizzly Bluff field in July and August of this year and this production equipment will allow gas production from these wells to comply with all of the specifications stipulated in the Company's gas sales agreement. It will also enable Foothills to finalize testing of the Vicenus well and put it on production and to substantially increase production from the Christiansen well, from which curtailed production commenced in September. Since installation of this equipment at the Christiansen well, production has more than doubled to over 500,000 cubic feet per day and further increases are planned. The Company also reported that it has acquired new oil, gas and mineral leases covering approximately 6,600 acres in the Eel River Basin since commencing its leasing program earlier this year. About 25% of the new leases represent an expansion of the existing Grizzly Bluff leasehold position, which consists of leases covering approximately 4,000 acres in which the Company is currently earning a 75% working interest through its drilling and other activities. The remaining new leases have been acquired over six additional prospective areas in the basin. The Company plans to continue its leasing activities in the area. Foothills President John Moran noted that, "although this is a relatively quiet period for Grizzly Bluff activities, the work that is now underway, especially the 3D seismic acquisition, sets the stage for a very active drilling and development program for 2007 and future years. The Company is looking forward to obtaining the final seismic images which will mark the first time in this area of California that a comprehensive seismic data set will be available for analysis." Mr. Moran also commented that, "we continue to work closely on production issues with the operator of the Grizzly Bluff gas gathering and processing facilities. However, differing interpretations of certain technical requirements resulted in the Christiansen 3-15 well being produced at rates substantially below its capacity and the Vicenus 1-3 well remaining shut-in. With the new equipment being installed, we expect that optimum production rates will soon be achieved." Texas As previously announced, the Company is encouraged by the initial results from its planned program of recompletions and workovers on more than 70 identified opportunities in previously inactive wells in the Goose Creek oil field in Harris County, Texas. Foothills acquired Goose Creek and interests in three other producing oil fields in southeast Texas in a transaction that closed in September of this year. The Company reported that its share of oil and gas production from the four fields averaged 585 barrels of oil equivalents per day during the month of November, and that it expects that production growth will continue as a result of its recompletion, drilling and workover program presently in progress. To date, five of the 70 identified recompletions / workovers have been completed. Foothills is also in the process of seeking bids to conduct a 3D seismic survey over Goose Creek in 2007, which is expected to identify deeper productive intervals and significantly improve the mapping of the shallower oil productive horizons. Oklahoma Foothills has finished reprocessing the 75 square mile West Cheyenne 3D seismic data set in the Anadarko Basin covered by a consulting agreement with TeTra Exploration of Bakersfield, California and PLX, Inc. of Tulsa, Oklahoma. PLX is currently interpreting the data, and leasing of prospects resulting from this interpretation is expected to commence in early 2007. Personnel Foothills is pleased to announced that Michael Moustakis and Stuart Gordon have joined the Company in the positions of Vice President, Engineering and Chief Geologist, respectively. Mr. Moustakis has over 20 years of engineering experience with more than 10 years as a senior engineer and development manager on various international projects. He has expertise in reservoir development, reserves, economics, conventional and non-conventional reservoirs, thermal recovery, cold heavy-oil production, and gas development. From 2001 through 2006, Mr. Moustakis served as the Engineering Manager at OXY Resources California LLC and subsequently at Rockwell Petroleum, Inc. Between 1992 and 2001, Mr. Moustakis held senior engineering positions with companies in Kazakhstan, Albania and Germany. He began his career with Union Oil of California in 1984, and subsequently served in various engineering positions at several companies prior to joining OXY. Mr. Moustakis holds a Bachelor's degree in Petroleum Engineering from the University of Alaska. Mr. Gordon is a petroleum geoscientist with 29 years of industry experience with Exxon, Tenneco, ARCO, Hunt and most recently with Occidental Petroleum in California. He received a B.S. in Geology from UCLA and an M.A. in Geological Sciences from UC Santa Barbara. His experiences have ranged from development drilling to rank wildcatting in a variety of geologic settings in onshore and offshore California, Texas, Alaska, the Rocky Mountains, and numerous overseas locations. He is also the author of seven peer-reviewed technical papers that have been published or are in press. Dennis Tower, Foothills Chief Executive Officer, said, "Foothills is fortunate to have been able to add two very capable and experienced individuals in Mike and Stuart to our staff. They bring comprehensive knowledge of oil and gas in California and state-of-the-art technical backgrounds in their respective disciplines. With these staff additions, Foothills is fully ready to implement our business plan and fast-track the active drilling and development activities planned for 2007 in both of our principal areas of operations." About Foothills Resources, Inc. 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 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. (http://www.moyesco.com) to establish and grow the Company. Additional information on Foothills Resources is available at http://www.foothills-resources.com. For more information contact: Bruce Nurse, Investor Relations info@foothills-resources.com 1-888-662-FTRS(3877) SEC Filings and Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "should," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict," "plan" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding business strategy and expansion and growth of our business and operations. Such forward-looking statements involve assumptions and are subject to known and unknown risks and uncertainties that could cause actual results or performance to differ materially from those expressed or implied by such forward-looking statements. Although we believe that the assumptions reflected in such forward-looking statements are reasonable, we can give no assurance that such assumptions will prove to have been correct. You should also know that such statements are not guaranties of future performance and are subject to risks, uncertainties and assumptions, including, but not limited to, failing to discover reserves that may be extracted on a commercially viable basis, inaccurately estimating oil and gas reserves, intense competition, environmental risks and general economic conditions including the price of oil and gas. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Should any of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may differ materially from those included within these forward-looking statements. We undertake no obligation to publicly release the result of any revision to these forward-looking statements to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and cash flows. Foothills Resources, Inc. CONTACT: Bruce Nurse, Investor Relations of Foothills Resources, Inc., +1-888-662-FTRS(3877), info@foothills-resources.com Web site: http://www.foothills-resources.com//

27.11.2006 20:08 AMITELO AG stellt Calling Cards für US-Truppen in Deutschland bereit Vor knapp einem Monat übernahm der Telekommunikationsanbieter AMITELO (Nachrichten/Aktienkurs) die MediaCard AG mit Sitz in der Schweiz. Die Spezialistin für Telekommunikationsprodukte führt nun eine Prepaid Calling Card für Angehörige der US-Streitkräfte in Deutschland ein. Im Rahmen einer Weihnachtsaktion stellt MediaCard 10.000 Karten bereit, ab Januar 2007 sind monatlich 10.000 weitere Karten geplant. Darüber hinaus beabsichtigt das Unternehmen, das Angebot auf andere US-Stützpunkte im Ausland auszuweiten. Am 31. Oktober 2006 informierte AMITELO über die Übernahme von MediaCard mit Sitz in der Schweiz. Die Vertriebsspezialistin für Prepaid Telekommunikationsprodukte in Deutschland, Schweiz, Österreich und Frankreich stellt nun in Zusammenarbeit mit AMITELO und der United Services Organization (USO) für die ca. 70.000 Angehörigen der US-Streitkräfte in Deutschland eine Prepaid Calling Card bereit. USO ist eine private Nonprofit-Organisation, die weltweit 1,4 Millionen aktive Soldaten und 1,2 Millionen Mitglieder der National Garde und Reservisten sowie deren Angehörige in 132 USO Centern unterstützt. Im Fokus der Programme, Maßnahmen und Dienstleistungen stehen die mentale Unterstützung und die Förderung des Kontakts der Soldaten zu ihren Angehörigen. Im Dezember wird USO erstmals 10.000 der Prepaid Calling Cards von MediaCard kaufen und sie im Rahmen einer Benefizaktion an Angehörige der US-Streitkräfte in Deutschland verteilen. Die Karten können von jeder Kaserne aus für Gespräche in die USA benutzt werden. AMITELO und MediaCard stellen dabei die technische Abwicklung sicher. Im Anschluss an diese Einführungsaktion plant USO ab Januar 2007 monatlich 10.000 solcher Karten zu kaufen. Derzeit unterhalten die US-Streitkräfte Stützpunkte in 120 verschiedenen Ländern. AMITELO plant, die Prepaid Calling Cards über USO auch im Irak, in Afghanistan und Italien anzubieten, wo insgesamt ca. 160.000 amerikanische Soldaten stationiert sind. Aufgrund seiner hervorragenden internationalen Anbindungen ist AMITELO bestens positioniert, diese und weitere Einrichtungen der US-Streitkräfte mit Prepaid Dienstleistungen zu versorgen. Über AMITELO AG: Die AMITELO AG (www.amitelo.ag) mit Sitz in Zürich ist ein international tätiges, innovatives Technologie-Unternehmen, das in den wachstumsstärksten Bereichen der Telekommunikation wie VoIP, Sky-DSL, ADSL, Billing und Call-Center tätig ist. Der Schwerpunkt der unternehmerischen Tätigkeit liegt auf der Internet-Telefonie (VoIP) und anderen Telekommunikationstechnologien für den Einsatz in verschiedensten Regionen Europas, Afrikas und Südamerikas, wobei in der näheren Zukunft auch neue globale Märkte erschlossen werden sollen. Hierzu verfolgt die AMITELO AG eine offensive Wachstumsstrategie, in der organisches und anorganisches Wachstum eng miteinander verbunden sind und zur Erreichung der gesetzten Umsatz- und Ertragsziele beitragen. Über MediaCard AG: Die MediaCard AG (www.medicard.ch) mit Sitz in Sarnen, Schweiz ist ein europaweit tätiges Telekommunikationsdienstleistungs- und Value-Added-Distributionsunternehmen im Prepaid und ethnischen Marktsegment. Neben klassischen Festnetzdienstleistungen verfügt MediaCard über GSM-Segment-produkte sowie über MVNO- und Reselling-Aktivitäten. MediaCard hält mehrere erstklassige Markenlizenzen im ethnischen Segmentmarkt und hat Zugang zu rund 7000 unabhängigen Verkaufsstellen in den wichtigsten westeuropäischen Ländern.

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