What changed in this filing

/stocks — the workspaceLOADING

Item 7. Management’s Discussion and Analysis

2026-03-25 compared with 2025-03-31 · 35 added, 33 removed, 242 unchanged (22% of the section changed)

56 unchanged sentences

in deciding whether to drill in the property of a specific oil lease or right.

estimates depend on many assumptions that may turn out to be inaccurate.

Any material inaccuracies in reserve estimates or underlying

assumptions will materially affect the quantities and present value of oil from a drilling site.

Reserve estimates depend on many assumptions

that may turn out to be inaccurate.

Any material inaccuracies in reserve estimates or underlying assumptions will materially affect

the quantities and present value of oil from a drilling site.

and Uncertainties

1 unchanged sentence

Recessionary concerns have placed some downward pressure on commodity

prices, causing oil and gas prices to decline in the first quarter of 2023 from their earlier highs in 2022.

Although supply has

increased throughout the last three years, there is still an element of volatility and uncertainty that we expect to continue

prices, causing oil and gas prices to decline in the fourth quarter of 2025 from their earlier highs in 2023.

Although supply

has increased throughout the last three years, there is still an element of volatility and uncertainty that we expect to continue

at least for the near-term and possibly longer, in part by the impact of the Russian-Ukrainian military conflict on global commodity

13 unchanged sentences

company and began producing significant revenue in 2023.

The increase in revenue of $43,703 is attributable to the acquisition

of additional mineral and oil and gas interests during 2024.

The decrease in revenue of $8,065 is attributable to the decrease in

oil prices since prior year and disposal of certain mineral and oil and gas interests during 2025.

and Administrative Expenses

2 unchanged sentences

same period in 2024, representing a decrease of 15.7% or $144,202.

The decrease was primarily driven by a decrease in management

The decrease was primarily driven by a decrease in payroll

Operating Expenses

operating expenses were $417,967 for the year ended December 31, 2025, compared to $355,644 in the same period in 2024.

in lease operating expenses of 43.0% or $107,002 was primarily driven by the 2024 acquisition of additional mineral and oil and

gas interests and the operation of those interests.

in lease operating expenses of 17.5% or $62,323 was primarily driven by the result of a full year of operating expenses related

to the 2024 acquisition of additional mineral and oil and gas interests that occurred in Q2 and Q3 2024.

from Operations

operating loss was $1,029,312 for the year ended December 31, 2025, and $1,608,945 for the year ended December 31, 2024.

in loss was primarily driven by the decrease in general and administrative expenses, offset by the increase in lease operating

in loss was primarily driven by the decrease in impairment expense and general and administrative expenses, offset by an increase

in lease operating expenses.

expense, net was ($79,897) for the year ended December 31, 2025, compared to ($901) for the same period in 2024.

The change in

other expense, net, was attributable to an increase in interest income.

in other expense, net, was attributable to a loss on disposition of proved reserves not present in the prior year.

a result of the above factors, there was a net loss of $1,109,209 for the year ended December 31, 2025, compared to a net loss

2 unchanged sentences

Company had cash and cash equivalents of $77,219 at December 31, 2025.

The Company has incurred net operating losses and operating

cash flow deficits since inception, continuing through the years ended December 31, 2024, and December 31, 2023.

Since inception,

the primary sources of financing have been a combination of loans or contributions of Jeffrey J.

Guzy, an officer and director

of the Company, and $53,000 raised in the public offering.

This limited funding has been inadequate as of the date of this

Annual Report to fund our business strategy.

The Company has not attained profitable operations and its ability to pursue any

future plan of operation is dependent upon our ability to obtain additional financing.

During the year ended December 31, 2025 the Company generated

$40,569 in operating cash flows.

Prior to the year ended December 31, 2025 the Company had incurred net operating losses and operating

cash flow deficits since its inception.

Historically, the primary sources of financing have been a combination of loans or contributions

of Jeffrey J.

Guzy, an officer and director of the Company, and $53,000 raised in the public offering.

This limited funding

has been inadequate as of the date of this Annual Report to fund our business strategy.

The Company has not attained profitable

operations and its ability to pursue any future plan of operation is dependent upon our ability to obtain additional financing.

Company believes that its working capital on hand, as of the date of this report, will not be sufficient to fund its plan of operations

50 unchanged sentences

balances, prepaid expenses, accounts payables, and accrued expenses.

For the period ended December 31, 2024, net cash used in

operating activities was $19,187 compared to net cash provided by operating activities of $48,046 for the period ended December

The net decrease was primarily attributable to a net $317,004 decrease in the non-cash adjustment for common stock issued

for services and salaries.

This change was offset by the net increase in accounts receivable during the period ended December

For the period ended December 31, 2025, net cash provided

by operating activities was $40,569 compared to net cash used in operating activities of $19,187 for the period ended December

The net increase in operating cash flows was primarily attributable to the reduction in net loss between periods, the

noncash settlement of payables related to the disposition of proved reserves in 2025, offset by the transfer of receivables related

to the disposed proved reserves.

cash used in investing activities was $0 for both the periods ended December 31, 2025, and December 31, 2024.

1 unchanged sentence

Net cash used in financing activities

was $9,888 for the periods ended December 31, 2023.

The net decrease was due to the decrease in payments made of the SBA PPP loan.

was $9,983 for the period ended December 31, 2024.

The net increase was due to the increase in payments made on the SBA PPP loan.

accompanying consolidated financial statements have been prepared assuming we will continue as a going concern, which contemplates

85 unchanged sentences

on an SEC average price of $73.68 per Bbl of WTI oil posted and $2.013 per MCF natural gas.

Prices are adjusted by local field and

lease level differentials and are held constant for the life of reserves in accordance with SEC guidelines.

Prices are adjusted by local field

and lease level differentials and are held constant for the life of reserves in accordance with SEC guidelines.

Deferred income taxes are provided for the difference between the tax basis of assets and liabilities and the

11 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 7. Management’s Discussion and Analysis