Wed, May 14, 9:13 PM (40 days ago)
Circle Energy, Inc. (NV) reported its Q1 2025 financial results, highlighting its operational and financial status. The company, focused on oil and natural gas properties in Texas, reported no revenue for the quarter, consistent with the previous year. Operating expenses were $24,273,000, slightly higher than the $24,051,000 in Q1 2024, resulting in a net loss of $24,273,000. The company's cash position decreased to $184,371,000 from $192,024,000 at the end of 2024, with a working capital of $179,653,000. Circle Energy's liquidity is sufficient for the next 12 months, but further funding is needed for extensive drilling or acquisitions. The company has a 75% working interest in an 80-acre lease in Andrews County, Texas, and plans to drill two wells within three years. Management is exploring joint venture opportunities and additional acreage to expand operations. Despite the lack of revenue, the company's strategic initiatives and management's efforts to secure funding and partnerships indicate a proactive approach to future growth. The company's stock is traded under the ticker NV.