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Petrolia Energy Corporation (BBLS) |
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Price: $0.0026
$0.00 
0.000%
|
| Day's High:
| $0.0026
| Week Perf:
| 4 %
|
| Day's Low: |
$ 0.00 |
30 Day Perf: |
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| Volume (M): |
15 |
52 Wk High: |
$ 0.03 |
| Volume (M$): |
$ 0 |
52 Wk Avg: |
$0.01 |
| Open: |
$0.00 |
52 Wk Low: |
$0.00 |
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| Market Capitalization (Millions $) |
0 |
| Shares
Outstanding (Millions) |
177 |
| Employees |
7 |
| Revenues (TTM) (Millions $) |
6 |
| Net Income (TTM) (Millions $) |
-2 |
| Cash Flow (TTM) (Millions $) |
0 |
| Capital Exp. (TTM) (Millions $) |
0 |
Petrolia Energy Corporation
We were incorporated in Colorado on January 16, 2002.
We planned to sell custom framed artwork, art accessories, and interior design
consulting. However, we generated only limited revenue and were inactive between
2008 and February of 2012.
In February 2012 we decided it would be in the best interests of our shareholders
to no longer pursue our original business plan and, in April 2012 we became
active in the exploration and development of oil and gas properties.
Effective September 2, 2016, we formally changed our name to Petrolia Energy Corporation,
pursuant to the filing of a Statement of Conversion with the Secretary of State
of Colorado and a Certificate of Conversion with the Secretary of State of Texas,
authorized by the Plan of Conversion which was approved by our stockholders at
our April 14, 2016, annual meeting of stockholders, each of which are described
in greater detail in the Definitive Proxy Statement on Schedule 14A, which was
filed with the Securities and Exchange Commission on March 23, 2016. In addition
to the Certificate of Conversion filing, we filed a Certificate of Correction
filing with the Secretary of State of Texas (correcting certain errors in our
originally filed Certificate of Formation) on August 24, 2016.
As previously reported, although the stockholders approved the Plan of Conversion
at the annual meeting, pursuant to which our corporate jurisdiction was to be
changed from the State of Colorado to the State of Texas by means of a process
called a “Conversion” and our name was to be changed to “Petrolia
Energy Corporation”, those filings were not immediately made and the Conversion
did not become legally effective until September 2, 2016. Specifically, on June
15, 2016, the Company filed a Certificate of Conversion with the Texas Secretary
of State, affecting the Conversion and the name change, and including a Certificate
of Formation as a converted Texas corporation; however, the Statement of Conversion
was not filed with the State of Colorado until a later date. As a result, and
because FINRA and the Depository Trust Company (DTC) had advised us that they
would not recognize the Conversion or name change, or update such related information
in the marketplace, until we became current in our periodic filings with the Securities
and Exchange Commission and they had a chance to review and approve such transactions,
we took the position that the Conversion and name change were not legally effective
until September 2, 2016.
Since 2015, we have established a clearly defined strategy to acquire, enhance
and redevelop high-quality, resource in place assets. The Company has been focusing
on acquisitions in the Southwest United States while actively pursuing our strategy
to offer low-cost operational solutions in established Oil and Gas regions. We
believe our mix of assets-oil-in-place conventional plays, low-risk resource plays
and the redevelopment of our late-stage plays is a solid foundation for continued
growth and future revenue growth.
Our strategy is to acquire low risk, conventionally producing oil fields. This
strategy allows us to incorporate new technology to minimize risk and maximize
the recoverability of existing reservoirs. This approach allows us to minimize
the environmental impact caused by exploratory development.
Our activities will primarily be dependent upon available financing.
Oil and gas leases are considered real property. Title to properties which we
may acquire will be subject to landowner’s royalties, overriding royalties,
carried working and other similar interests and contractual arrangements customary
in the oil and gas industry, to liens for current taxes not yet due, liens for
amounts owing to persons operating wells, and other encumbrances. As is customary
in the industry, in the case of undeveloped properties little investigation of
record title will be made at the time of acquisition (other than a preliminary
review of local records). However, drilling title opinions may be obtained before
commencement of drilling operations.
Company Address: 710 N. Post Oak Road Houston 77024 TX
Company Phone Number: 723-1266 Stock Exchange / Ticker: BBLS
| BBLS is expected to report next financial results on December 08, 2023. |
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Customers Net Income grew by |
BBLS's Customers Net Profit Margin grew to |
265.2 % |
13.14 %
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| Stock Performances by Major Competitors |
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Denbury Inc
Introduction
The stock market is often marked by fluctuating trends and can present both profitable and challenging times for investors. Denbury Inc, an energy company operating in the United States, has recently reported a decline in its net profit, income, and revenue for the April to June 30, 2023 period. This article aims to analyze the significant factors contributing to this decline and provide insights into Denbury Inc's profitability trends.
Profitability Declines
During the April-June 2023 period, Denbury Inc's net profit per share witnessed a significant plummet of -55.83%, dropping to $1.25 per share from $2.83 per share compared to the previous year. This downward trend reflects the challenges faced by the company that have impacted its financial performance. Additionally, income faded by -24.7%, declining from $1.66 per share in the previous reporting season to $1.25 per share.
Revenue Downturn
Denbury Inc's revenue also experienced a substantial decline of -31.768%, dropping to $328.98 million from $482.16 million during the same reporting season in the previous year. Moreover, the sequential revenue decline stood at -3.529%, from $341.02 million. This decline in revenue suggests a less favorable market environment for the company and may reflect moderating demand in the industry segment.
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Altex Industries Inc
Altex Industries Inc, a company operating in the [insert industry], recently announced its financial results for the third quarter of 2023. The company reached break-even at $0.00 per share, which is the same as last year and the preceding financial reporting period. This is an encouraging sign for the company as it indicates that it has managed to stabilize its financial position.
However, the company experienced a decline in revenue for the third quarter. The revenue faded by 33.333% to $0.01 million compared to the same period a year ago. Sequentially, the revenue deteriorated by 14.286% from the preceding financial reporting period. These numbers suggest that Altex Industries Inc has faced challenges in generating consistent revenue growth.
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Nine Energy Service Inc
The outlook for the stock market is looking up, particularly for Nine Energy Service Inc. This oil and gas production company has bucked the industry trend by reporting an impressive revenue increase of 13.405% to $161.43 million in the fiscal period ending June 30, 2023. While many of its peers have experienced business decline, Nine Energy Service Inc is showing signs of improvement.
In addition to their revenue growth, Nine Energy Service Inc has also seen a notable improvement in their earnings per share (EPS). Comparing the current financial reporting period to the previous one, EPS has improved from $-0.19 per share to $-0.08 per share. This indicates that the company is making strides towards a more positive financial position.
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Comstock Resources Inc
As a stock market journalist, it is my duty to provide an objective and thorough analysis of the financial results of Comstock Resources Inc. Based on the given information, it is evident that the company's performance has taken a significant hit in the fiscal period closing June 30, 2023.
Starting with the earnings per share (EPS), we see a drastic decline from $1.36 per share in the prior year to a loss of $0.17 per share. This indicates a stark reversal of fortune for the company and raises concerns about its profitability. In addition, the preceding financial reporting period saw EPS at $0.49 per share, indicating a decline in performance.
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Murphy Oil Corporation
Murphy Oil Corporation, a prominent player in the oil and gas production industry, has seen mixed financial results in recent months. While the company's stock performance has shown marginal improvement, its revenue and profitability have taken a significant hit. The decline in revenues, reduced earnings per share, and unfavorable margins have raised concerns about the company's future prospects.
Factors Affecting Financial Performance:
1. Declining Revenue and Earnings:
The most recent fiscal period witnessed a sharp decline in revenue by approximately 26.018%. This downturn had a severe impact on the company's income, which plummeted by 72.2%. Comparing the current revenue of $814.59 million to the previous year's $1.10 billion highlights the challenging market conditions for Murphy Oil Corporation.
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| Per Share |
Current |
| Earnings (TTM) |
-0 $ |
| Revenues (TTM) |
0.03 $
|
| Cash Flow (TTM) |
- |
| Cash |
0.01 $
|
| Book Value |
-
|
| Dividend (TTM) |
0 $ |
|
|
| Per Share |
|
| Earnings (TTM) |
-0 $
|
| Revenues (TTM) |
0.03 $ |
| Cash Flow (TTM) |
- |
| Cash |
0.01 $
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| Book Value |
- |
| Dividend (TTM) |
0 $ |
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7.72%