Forward-looking Statements

This website includes “forward-looking statements”. All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, increases in oil and gas production, the number of anticipated wells to be drilled after the date hereof, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward-looking statements. 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,” and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. Our results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, among others:

  • our ability to generate sufficient cash flow from operations, borrowings or other sources to enable us to fully develop our undeveloped operated and non-operated acreage positions;
  • future capital requirements and uncertainty of obtaining additional funding on terms acceptable to us;
  • unsuccessful drilling and completion activities and the possibility of resulting write-downs;
  • geographical concentration of our operations;
  • constraints imposed on our business and operations by our credit agreements and our ability to generate sufficient cash flows to repay our debt obligations;
  • availability of borrowings under our credit agreements;
  • termination fees related to drilling rig contracts;
  • increases in the cost of drilling, completion and gas gathering or other costs of production and operations;
  • our ability to successfully drill wells that produce oil or natural gas in commercially viable quantities;
  • failure to meet our proposed drilling schedule;
  • financial losses and reduced earnings related to our commodity derivative agreements, and failure to produce enough oil to satisfy our commodity derivative agreements;
  • historical incurrence of losses;
  • adverse variations from estimates of reserves, production, production prices and expenditure requirements, and our inability to replace our reserves through exploration and development activities;
  • hazardous, risky drilling operations and adverse weather and environmental conditions;
  • limited control over non-operated properties;
  • reliance on limited number of customers;
  • title defects to our properties and inability to retain our leases;
  • incorrect estimates of proved reserves, the presence or recoverability of estimated oil and natural gas reserves and the actual future production rates and associated costs of properties that we acquire;
  • our ability to successfully develop our large inventory of undeveloped operated and non-operated acreage;
  • our ability to retain key members of our senior management and key technical employees, and conflicts of interests with respect to our directors;
  • marketing and transportation constraints
  • federal and tribal regulations and laws;
  • our current level of indebtedness and the effect of any increase in our level of indebtedness;
  • risks in connection with potential acquisitions and the integration of significant acquisitions;
  • price volatility of oil and natural gas prices, and the effect that lower prices may have on our net income and stockholders’ equity;
  • a decline in oil or natural gas production or oil or natural gas prices, and the impact of general economic conditions on the demand for oil and natural gas and the availability of capital;
  • impact of environmental, health and safety, and other governmental regulations, and of current or pending legislation;
  • effects of competition;
  • effect of seasonal factors;
  • lack of availability of drilling rigs, equipment, supplies, insurance, personnel and oil field services;
  • further sales or issuances of stock

Other sections of this website may include additional factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

  • Our forward-looking statements contained in this website are made as of the respective dates set forth in this website. Such forward-looking statements are based on the beliefs, expectations and opinions of management as of the date the statements are made. We do not intend to update these forward-looking statements. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

 All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this section. Other than as required under securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.