US ENERGY CORP
For the period ended Dec 31, 2023. Filed Mar 26, 2024.
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FY2023 · Filed Mar 26, 2024
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Cautionary Statement Regarding Forward-Looking Statements
The information discussed in this Annual Report includes “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements.
Examples of forward-looking statements in this Annual Report include:
| ● | planned capital expenditures for oil and natural gas exploration and environmental compliance; |
| ● | potential drilling locations and available spacing units, and possible changes in spacing rules; |
| ● | cash expected to be available for capital expenditures and to satisfy other obligations; |
| ● | recovered volumes and values of oil and natural gas approximating third-party estimates; |
| ● | anticipated changes in oil and natural gas production; |
| ● | drilling and completion activities and opportunities; |
| ● | timing of drilling additional wells and performing other exploration and development projects; |
| ● | expected spacing and the number of wells to be drilled with our oil and natural gas industry partners; |
| ● | when payout-based milestones or similar thresholds will be reached for the purposes of our agreements with our partners; |
| ● | expected working and net revenue interests, and costs of wells, relating to the drilling programs with our partners; |
| ● | actual decline rates for producing wells; |
| ● | future cash flows, expenses and borrowings; |
| ● | pursuit of potential acquisition opportunities; |
| ● | economic downturns, wars and increased inflation and interest rates, and possible recessions caused thereby; |
| ● | the effects of global pandemics on our operations, properties, the market for oil and gas, and the demand for oil and gas; |
| ● | our expected financial position; |
| ● | our expected future overhead reductions; |
| ● | our ability to become an operator of oil and natural gas properties; |
| ● | our ability to raise additional financing and acquire attractive oil and natural gas properties; and |
| ● | other plans and objectives for future operations. |
These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” “up to,” and similar terms and phrases. Though we believe that the expectations reflected in these statements are reasonable, they involve certain assumptions, risks and uncertainties. Results could differ materially from those anticipated in these statements as a result of numerous factors discussed below under “Summary of Risk Factors”, and under “Risk Factors”, below.
Finally, our future results will depend upon various other risks and uncertainties, including, but not limited to, those detailed in Item 1A “Risk Factors” in this Annual Report on Form 10-K. All subsequent written and oral forward-looking statements attributable to the Company, or persons acting on its behalf, are expressly qualified in their entirety by the cautionary statements above. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements made above and elsewhere in this Annual Report on Form 10-K.
All forward-looking statements speak only at the date of the filing of this Annual Report. We do not undertake any obligation to update or revise publicly any forward-looking statements except as required by law, including the securities laws of the United States and the rules and regulations of the SEC.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.