Sky Quarry Inc.
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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FY2025 · Filed Mar 31, 2026
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Item 2. Properties
Our corporate headquarters are in Woods Cross, Utah, where we lease office space at 707 W. 700 S, Suite 101.
We hold mineral leases (or the operating rights under leases) covering approximately 5,880 net acres within the State of Utah. Our oilsands remediation at the PR Spring Facility is sited on one of these leases. Terms of the leases are set forth in the table below.
| Gross | Net | Lease Expiry Date | Annual Rent | Annual Advance Minimum Royalty | Production Royalty Rate | |
|---|---|---|---|---|---|---|
| Reference | Acres | Acres | (1) | (2) | (3) | (4) |
| ML-49927 | 4,319.90 | 4,319.90 | 1/31/2030 | $4,320 | $410,400 | 10% |
| ML-51705 | 1,560.00 | 1,560.00 | 1/31/2030 | 1,560 | 15,600 | 8% |
| Total | 5,879.90 | 5,879.90 | $$5,880 | $$426,000 |
Mineral leases may be extended past expiry date by continued payment of annual rent and annual advance minimum royalty.
Annual rent on mineral leases may be credited against production royalties payable during the year.
Annual advance on mineral leases of minimum royalty may be credited against production royalties payable during the year.
The production royalty is payable on the market price of products produced from the mineral leased substances, without deduction of costs for mining, overhead, labor, distribution or general and administrative activities.
We also hold two leased land rights of way rentals in Nye County, Nevada, totaling approximately 40 acres. Our Eagle Springs Refinery is sited on one of these leases.
| Reference | Acres | Lease Expiry Date | Annual Fee |
|---|---|---|---|
| Right-of-Way Grant N-41035 | 19.7 | 12/31/2054 | $2,850 |
| Right-of-Way Grant N-42414 | 20.3 | 12/31/2044 | 1,400 |
We are seeking to develop the 5,930 acres of land in PR Spring, Utah to produce heavy oil/bitumen and asphalt paving aggregate from bituminous asphaltic sands deposits and are in the process of retrofitting our existing mining and processing facilities to utilize our ECOSolv technology. During the years ended December 31, 2025 and 2024, we conducted no mining operations. As of the date hereof, the PR Spring lands are classified as an exploration stage property and hold no mineral reserves or proven minerals reserves, as those terms are defined in Subpart 1300 of Regulation S-K.
We believe that our facilities are adequate to meet our needs for the immediate future, and that, should it be needed, suitable space will be available to accommodate any such expansion of our operations.
Employees
As of December 31, 2025, we had 26 full-time employees.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.