We plan to focus on the following objectives in the coming 12 months:
· Continued focus on cost savings and efficiency across all aspects of the Company including lease operating costs and general and administrative costs;
· Continued focus on strengthening the balance sheet through strong capital management;
· The successful integration of the properties and assets acquired in the Foreman Butte Acquisition, and the review and workover of such assets;
· The continued appraisal of our Cane Creek project in the Paradox basin in Utah;
· The continued search and appraisal of new development and exploration projects that add value to our current portfolio at lower oil prices;
· Repayment of the $4 million promissory note issued to the seller in the Foreman Butte Acquisition; and
· Regaining and maintaining compliance with NYSE MKT listing standards.
Our ability to meet these objectives will depend on our ability to raise additional capital to fund the planned development programs.
Purely My Own Opinion. Do Your Own Due Diligence.
“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty
