Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Protection

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic causing decreased global economic activity and demand for oil and natural gas, leading to lower commodity prices and potential impairments of long-lived assets.
• Climate change and related government regulations may affect costs of drilling and production, demand for oil and natural gas, insurance, and utility costs, as well as increase property damage and operational disruptions.

Mitigation Strategies

• Evaluating all cash management strategies and maintaining conservative choices in short-term investments to protect cash reserves and liquidity.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Climate Change
• Human Capital Resources

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• The Company may be, directly and indirectly, subject to the effects of climate change and may, directly or indirectly, be affected by government laws and regulations related to climate change.
• The Company has no significant long-term sales contracts for either oil or gas. For the most part, the price we receive for our product is based upon the spot market price, which in the past has experienced significant fluctuations.

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• property damage and the disruption of operation of wells

Transition Risks

• laws and regulations may affect, directly or indirectly, (i) the costs associated with drilling and production operations in which we participate, (ii) the demand for oil and natural gas, (iii) insurance premiums, deductibles and the availability of coverage and (iv) the cost of utilities paid by the Company

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Human Capital Resources

Social Achievements

• Maintained a compensation philosophy focused on fairness, reasonableness, and competitiveness to attract and retain qualified personnel.
• Emphasized accountability, integrity, and respect as core values, fostering a diverse and inclusive work environment.

Governance Achievements

• The Audit Committee discussed cybersecurity risks and inquired about controls to address them, reporting regularly to the Board of Directors.

Climate Goals & Targets

Environmental Challenges

• Potential negative impacts from climate change on drilling and production costs, demand for oil and natural gas, insurance, utilities, and property damage.
• Highly competitive oil and gas industry with factors outside the Company's control (e.g., alternative fuel costs, consumer demand, domestic/foreign production, transportation costs, regulatory changes).

Mitigation Strategies

• Partnerships with companies having the resources to operate wells, allowing participation in exploration and development without exceeding financial and personnel limits.
• Diversification of investments to mitigate risks associated with energy sector volatility and political unpredictability.
• Use of a third-party managed services provider for IT security applications, monitoring, and updates; multi-factor authentication; secure physical environment; employee IT security education; automated security tools.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Increased likelihood of property damage and operational disruption due to climate change.

Transition Risks

• Potential regulatory changes and market shifts affecting costs, demand, and insurance.