Climate Change Data

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Mechanical failure of Red Lodge 6-35-34-3W5 Gas Compressor resulting in shut-in of north Garrington area wells.
• Dispute with Mystique Energy Inc. regarding revenues.
• Cease Trade Order issued by the British Columbia Securities Commission for late filing of financial statements and MD&A.

Mitigation Strategies

• Settlement reached with Mystique Energy Inc., resulting in payment of $292,330.95.
• Cease Trade Order lifted, shares reinstated for trading.
• Replacement unit for the gas compressor to be installed to resume production.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

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

Climate Goals & Targets

Environmental Challenges

• Ongoing global economic instability negatively impacting demand for natural gas and oil.
• Inability to self-finance operations; working capital deficiency; accumulated deficit; limited resources; no significant source of operating cash flow; no assurance of sufficient funding for exploration and development.
• Reliance on operators for timing of activities and inability to control potential costs.
• Exploration, development, and production risks including dry wells, insufficient net revenues, drilling hazards, environmental damage, delays in governmental approvals, shut-ins, insufficient storage or transportation capacity, and geological and mechanical conditions.
• Insurance limitations and potential for uninsured liabilities.
• Fluctuating oil and natural gas prices and market demand.
• Property defects such as unregistered agreements, native land claims, or undetected transfers.
• Environmental risks and compliance costs.
• Need to manage growth effectively.
• Competition in the oil and gas industry.
• Uncertainty of estimates of reserves.
• Declining reserves.

Mitigation Strategies

• Actively seeking to raise necessary capital through debt and/or equity financing.
• Undertaking available cost-cutting measures.
• Objective to meet operating and capital requirements by a combination of cash flow from current and future well production, and re-investment of current capital.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Ongoing global economic instability negatively impacting demand for natural gas and oil.
• Inability to self-finance operations.
• Working capital deficiency.
• Accumulated deficit.
• Limited resources and no significant source of operating cash flow.
• Uncertainty regarding the financial markets and worldwide political and economic climates affecting demand for natural gas and oil.
• Reliance on operators for timing of activities and inability to control potential costs.
• Exploration, development, and production risks including dry wells, unprofitable efforts, drilling hazards, environmental damage, and production delays.
• Insurance limitations and potential uninsured liabilities.
• Fluctuating oil and natural gas prices and market demand.
• Property defects and title issues.
• Environmental risks and compliance costs.
• Need to replace declining reserves.
• Need to manage growth effectively.
• Reliance on key personnel.
• Potential conflicts of interest.
• Need for permits and licenses.
• Substantial capital requirements and liquidity issues.
• Availability of drilling equipment and access restrictions.
• Competition in the oil and gas industry.
• Government regulation and administrative practices.

Mitigation Strategies

• Actively seeking to raise necessary capital.
• Undertaking available cost-cutting measures.
• Seeking to meet operating and capital requirements through cash flow from well production and reinvestment of current capital.

Supply Chain Management

Climate-Related Risks & Opportunities