Foothills Exploration, Inc. provided an update on and report the results of a recent independent reserve and resource evaluation (“Reserves Report”) on its recently acquired properties located in the Green River Basin, Wyoming. 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. Foothills’ oil and gas reserves were independently prepared by MHA Petroleum Consultants, LLC, a Sproule Company (“MHA”). Foothills’ estimated reserves and future net income attributable to the Company’s interests in the Point of Rocks, South Black Rock, and Deadman Wash gas fields located Sweetwater County Wyoming. This report includes 22 proved developed producing (“PDP”) wells and 3 recompletions (proved behind pipe, “PBP”). However, it should be noted that this report did not examine proved undeveloped (“PUD”) locations.