Epsilon Energy Ltd.
For the period ended Jun 30, 2026. Filed Aug 12, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 12, 2026
EPSN$5.24+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Cash Flows
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Six months ended June 30, | ||||||
| · · 2026 · · 2025 | ||||||
| Cash flows from operating activities: | | | | | | |
| Net income | | $7,862,896 | | $5,567,495 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | |
| Depletion, depreciation, amortization, and accretion | | | 5,806,446 | | | 6,677,511 |
| Impairment expense | | | — | | | 2,676,669 |
| Amortization on deferred financing costs | | | 100,593 | | | — |
| Gain on sale of oil and gas properties | | | (4,174,368) | | | — |
| Loss (gain) on derivative contracts | | | 6,684,358 | | | (1,111,693) |
| Settlement paid on derivative contracts | | | (2,778,616) | | | (108,383) |
| Settlement of asset retirement obligation | | | — | | | (1,600) |
| Stock-based compensation expense | | | 1,095,054 | | | 771,676 |
| Deferred income tax expense (benefit) | | | 2,672,093 | | | (779,676) |
| Changes in assets and liabilities: | | | | | | |
| Accounts receivable | | | (1,343,944) | | | 346,839 |
| Prepaid income taxes | | | (45,671) | | | — |
| Other assets and liabilities | | | 292,394 | | | 385,445 |
| Accounts payable, royalties payable, gathering fees payable, and other accrued liabilities | | | 6,189,202 | | | (66,454) |
| Income taxes payable | | | — | | | 2,572,921 |
| Net cash provided by operating activities | | | 22,360,437 | | | 16,930,750 |
| Cash flows from investing activities: | | | | | | |
| Additions to unproved oil and gas properties | | | (1,416,572) | | | (5,132,649) |
| Additions to proved oil and gas properties | | | (8,803,428) | | | (5,997,993) |
| Deductions (additions) to gathering system properties | | | 100,952 | | | (228,327) |
| Deductions to land, buildings and property and equipment | | | (11,446) | | | (12,102) |
| Proceeds from sale of oil and gas properties | | | 4,174,368 | | | — |
| Prepaid drilling costs | | | (415,583) | | | 705,165 |
| Net cash used in investing activities | | | (6,371,709) | | | (10,665,906) |
| Cash flows from financing activities: | | | | | | |
| Payment on credit facility | | | (10,000,000) | | | — |
| Dividends paid | | | (3,774,910) | | | (2,751,372) |
| Net cash used in financing activities | | | (13,774,910) | | | (2,751,372) |
| Effect of currency rates on cash, cash equivalents, and restricted cash | | | (4,351) | | | (125,612) |
| Increase in cash, cash equivalents, and restricted cash | | | 2,209,467 | | | 3,387,860 |
| Cash, cash equivalents, and restricted cash, beginning of period | | | 9,512,954 | | | 6,989,793 |
| Cash, cash equivalents, and restricted cash, end of period | | $11,722,421 | | $10,377,653 | ||
| | | | | | | |
| Supplemental cash flow disclosures: | | | | | | |
| Income tax paid - federal | | $— | | $1,325,000 | ||
| Income tax paid - state (PA) | | $10,933 | | $355,138 | ||
| Income tax paid - state (other) | | $50,025 | | $1,710 | ||
| Interest paid | | $1,722,335 | | $9,552 | ||
| | | | | | | |
| Non-cash investing activities: | | | | | | |
| Change in proved properties accrued in accounts payable | | $3,260,493 | | $(690,866) | ||
| Change in gathering system accrued in accounts payable | | $(10,648) | | $71,366 | ||
| Asset retirement obligation asset additions and adjustments | | $6,961 | | $18,235 | ||
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