Quantitative and Qualitative Disclosures About Market Risk
−Removed: primary source of market risk for us includes fluctuations in commodity prices.
−Removed: All of our financial instruments are for purposes other
−Removed: than trading.
+Added: primary sources of market risk for us include fluctuations in commodity prices and interest rates.
+Added: All of our financial instruments are
+Added: for purposes other than trading.
Credit risk is the risk of loss as a result of nonperformance by other parties of their contractual obligations.
credit risk is related to oil and gas production sold to various purchasers and the receivables are generally not collateralized.
−Removed: September 30, 2024, our largest credit risk associated with any single purchaser was $529,614 or 58% of our total oil and gas receivables.
+Added: December 31, 2024, our largest credit risk associated with any single purchaser was $520,794 or 50% of our total oil and gas receivables.
We have not experienced any significant credit losses.
3 unchanged sentences
and natural gas.
−Removed: Pricing for oil and natural gas production has been volatile and unpredictable for several years, and we expect this
+Added: Prices for oil and natural gas production has been volatile and unpredictable for several years, and we expect this
volatility to continue in the future.
5 unchanged sentences
example, in the last twelve months, the NYMEX West Texas Intermediate (“WTI”) posted price for crude oil has ranged from
−Removed: a low of $61.73 per bbl in September 2024 to a high of $86.77 per bbl in October 2023.
−Removed: The Henry Hub Spot Market Price (“Henry
−Removed: Hub”) for natural gas has ranged from a low of $1.25 per MMBtu in March 2024 to a high of $3.34 per MMBtu in October 2023.
−Removed: 30, 2024, the WTI posted price for crude oil was $64.15 and the Henry Hub spot price for natural gas was $2.65 per MMBtu.
−Removed: of Operations above for the Company’s realized prices during the three and six months.
+Added: a low of $61.73 per bbl in September 2024 to a high of $82.89 per bbl in April 2024.
+Added: The Henry Hub Spot Market Price (“Henry Hub”)
+Added: posted price for natural gas has ranged from a low of $1.21 per MMBtu in November 2024 to a high of $3.40 per MMBtu in December 2024.
+Added: On December 31, 2024, the WTI posted price for crude oil was $67.70 and the Henry Hub posted price for natural gas was $3.40.
+Added: of Operations above for the Company’s realized prices during the three and nine months.
+Added: Subsequently, on January 27, 2025, the
+Added: WTI posted price for crude oil was $69.15 and the Henry Hub posted price for natural gas was $3.71.
in oil and natural gas prices will materially adversely affect our financial condition, liquidity, ability to obtain financing and operating
11 unchanged sentences
any improvements in oil and gas prices can have a favorable impact on our financial condition, results of operations and capital resources.
−Removed: Oil and natural gas prices do not necessarily fluctuate in direct relationship to each other.
−Removed: If the average oil price had increased
−Removed: or decreased by ten dollars per barrel for the first six months of fiscal 2025, our operating revenues would have increased or decreased
−Removed: If the average gas price had increased or decreased by one dollar per mcf for the first six months of fiscal 2025, our operating
−Removed: revenues would have increased or decreased by $270,291.
+Added: If the average oil price had increased or decreased by ten dollars per barrel for the first nine months of fiscal 2025, our operating
+Added: revenues would have increased or decreased $616,850.
+Added: If the average gas price had increased or decreased by one dollar per mcf for the
+Added: first nine months of fiscal 2025, our operating revenues would have increased or decreased $420,236.
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.