Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Global epidemics and public health crises may adversely impact operations and the global economy.
  • Proved reserves from Acordionero, Costayaco, Moqueta, and Cohembi fields decreased from 89% to 88%.
  • Capital program for 2024 increased from $210.0 million to $240.0 million for exploration and development activities.
  • Brent oil prices required for funding the capital program increased from $60 to $70 per barrel.
  • Average price of Brent oil decreased from $83 to $79 per barrel for the period ending February 15, 2024.
  • Capital program funding may require issuing additional shares of Common Stock to investors.
  • Increased focus on ESG practices and disclosures may impact access to capital and customer relationships.

Full Text Changes in Most Recent 10-K

Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.

To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1273441&owner=exclude

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