Company: CRCE
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001096906-25-000275
Chunk: 35

Company: Circle Energy, Inc./NV
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 35
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 our production, and the levels of our production, depend on numerous factors beyond our control. These factors include, but are not limited to, the following:

·changes in global supply and demand for oil and natural gas; 

·the actions of the Organization of Petroleum Exporting Countries, or OPEC; 

·the oil price war between Russia and Saudi Arabia; 

·the price and quantity of imports of foreign oil and natural gas; 

·political conditions, including embargoes, in or affecting other oil-producing activity; 

·the level of global oil and natural gas exploration and production activity; 

·the level of global oil and natural gas inventories; 

·weather conditions; 

·technological advances affecting energy consumption; and 

·the price and availability of alternative fuels. 

Lower oil and natural gas prices may not only decrease our revenues on a per BOE basis but also may reduce the amount of oil and natural gas that we can produce economically. Lower prices also negatively impact the value of our proved reserves. The recent drop in the price of oil has forced the Company, as well as other operators, to re-evaluate our current capital expenditure budget and make changes accordingly that we believe are in the best interest of the Company and its stockholders.  A substantial or extended decline in oil or natural gas prices may materially and adversely affect our future business, financial condition, results of operations, liquidity or ability to finance planned capital expenditures.

15

Drilling for and producing oil and natural gas are high risk activities with many uncertainties that could adversely affect our business, financial condition or results of operations. 

Our future success will depend on the success of our exploitation, exploration, development and production activities. Our oil and natural gas exploration and production activities are subject to numerous risks beyond our control, including the risk that drilling will not result in commercially viable oil or natural gas production. Our decisions to purchase, explore, develop or otherwise exploit prospects or properties will depend in part on the evaluation of data obtained through geophysical and geological analyses, production data and engineering studies, the results of which are often inconclusive or subject to varying interpretations. Please read “—Reserve estimates depend on many assumptions that may turn out to be inaccurate. . .” (below) for a discussion of the uncertainty involved in these processes. Our cost of drilling, completing and operating wells is often uncertain before drilling commences. Overruns in budgeted expenditures are common risks that can make a particular project uneconomical