CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q (this “Report” or “Form 10-Q”), including “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” contains “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 (the “Exchange Act”) 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 Report include:
| ● | planned capital expenditures for industrial gas, oil and natural gas exploration and environmental compliance; |
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| ● | potential drilling locations and available spacing units, and possible changes in spacing rules; |
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| ● | cash expected to be available for capital expenditures and to satisfy other obligations; |
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| ● | recovered volumes and values of industrial gas, oil and natural gas approximating third-party estimates; |
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| ● | anticipated changes in oil and natural gas and future industrial gas production; |
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| ● | drilling and completion activities and opportunities; |
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| ● | timing of drilling additional wells and performing other exploration and development projects; |
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| ● | expected spacing and the number of wells to be drilled with our industry partners; |
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| ● | when payout-based milestones or similar thresholds will be reached for the purposes of our agreements with our partners; |
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| ● | expected working and net revenue interests, and costs of wells, relating to the drilling programs with our partners; |
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| ● | actual decline rates for producing wells; |
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| ● | future cash flows, expenses and borrowings; |
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| ● | pursuit of potential acquisition opportunities; |
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| ● | economic downturns, wars and increased inflation and interest rates, and possible recessions caused thereby; |
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| ● | the effects of global pandemics on our operations, properties, the market for industrial gas, oil and natural gas, and the demand for industrial gas, oil and natural gas; |
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| ● | our expected financial position; |
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| ● | our expected future overhead reductions; |
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| ● | our ability to become an operator of industrial gas, oil and natural gas properties; |
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| ● | our ability to raise additional financing and acquire attractive industrial gas, oil and natural gas properties; and |
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| ● | other plans and objectives for future operations, including industrial gas exploration and development. |
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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. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in this Quarterly Report on Form 10-Q, and in particular, under and incorporated by reference in, “Risk Factors”, below, the risks discussed in Part I, Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and those discussed in other documents we file with the Securities and Exchange Commission (the “SEC” or the “Commission”). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.
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 speak only at the date of the filing of this 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.
