Prices and markets for oil and natural gas are unpredictable and tend to fluctuate significantly, which could cause temporary suspension of production and reduce our value
Estimates of oil and natural gas reserves may be inaccurate and our actual revenues may be lower than estimated
Unless we are able to replace our reserves and production, and develop and manage oil and natural gas reserves and production on an economically viable basis, our financial condition and results of operations will be adversely impacted
Exploration for oil and natural gas, and development of new formations, is risky
Drilling activities may encounter sour gas
Possible shortage of fresh water and surface and groundwater licenses
Crown land tenure obligations, interpretations and freehold offset royalty obligations
Indigenous rights and stakeholder opposition in Canada
Restrictions on development activities to protect wildlife
Joint Venture partner alignment
Our business is subject to local legal, social, security, political and economic factors that are beyond our control, which could impair or delay our ability to expand our operations or operate profitably
We are vulnerable to risks associated with geographically concentrated operations
Social disruptions or community disputes in Colombia and Ecuador may delay production and result in lost revenue
Security concerns in Colombia or Ecuador may disrupt our operations
A substantial portion of our revenue is generated outside of Canada and the United States, and if we determine to, or are required to, repatriate earnings from foreign jurisdictions, we could be subject to taxes
Certain acquisitions could adversely affect our financial results
The threat and impact of cybersecurity incidents may adversely impact our operations and could result in information theft, data corruption, operational disruption, and/or financial loss
Risks Related to our Financial Condition
Our business requires significant capital expenditures, and we may not have the resources necessary to fund these expenditures
Legal and Regulatory Risks
Environmental regulation and risks may adversely affect our business
We may be exposed to liabilities under anti-bribery laws and a finding that we violated these laws could have a material adverse effect on our business
Regulations related to emissions and the impact of any changes in climate could adversely impact our business, including demand for our products, our financial condition and results of operations
Reduction, elimination or expiration of government subsidies
Carbon taxes and environmental compliance costs
Shares of our Common Stock are listed on the NYSE American, the Toronto Stock Exchange (“TSX”) and the London Stock Exchange (“LSE”) and investors seeking to take advantage of price differences between such markets may create unexpected volatility in market prices
We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.
