SEDAR Interim Financial Statements

[
  {
    "companyName": "Petrus Resources Ltd.",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 19000,
      "carbonCredits": 324000,
      "depositsAndPrepaidExpenses": 2942000,
      "accountsReceivable": 9021000,
      "riskManagementAsset": 5117000,
      "totalCurrentAssets": 17423000,
      "explorationAndEvaluationAssets": 18130000,
      "propertyPlantAndEquipment": 369811000,
      "deferredIncomeTaxes": 19576000,
      "totalNonCurrentAssets": 407517000,
      "totalAssets": 424940000,
      "bankIndebtedness": 400000,
      "revolvingLoanFacility": 39839000,
      "accountsPayableAndAccruedLiabilities": 11927000,
      "riskManagementLiability": 44000,
      "leaseObligationsCurrent": 160000,
      "currentPortionOfDecommissioningObligation": 1495000,
      "totalCurrentLiabilities": 53865000,
      "longTermDebt": 25000000,
      "leaseObligationsNonCurrent": 720000,
      "decommissioningObligationNonCurrent": 38563000,
      "riskManagementLiabilityNonCurrent": 303000,
      "totalLiabilities": 118451000,
      "shareCapital": 500746000,
      "contributedSurplus": 36484000,
      "deficit": -230741000,
      "totalShareholdersEquity": 306489000,
      "totalLiabilitiesAndShareholdersEquity": 424940000,
      "cashPerShare": 0.0001,
      "workingCapitalPerShare": -0.2842
    },
    "incomeStatement": {
      "oilAndNaturalGasSales": 64852000,
      "royaltyExpense": -6246000,
      "netRevenue": 58706000,
      "otherIncomeExpense": -106000,
      "netGainLossOnFinancialInstruments": 8860000,
      "totalIncome": 67460000,
      "operatingExpenses": 15799000,
      "transportation": 4074000,
      "generalAndAdministrative": 2883000,
      "shareBasedCompensation": 1212000,
      "financeExpenses": 5736000,
      "explorationAndEvaluation": 414000,
      "depletionAndDepreciation": 31501000,
      "unrealizedGainLossOnForeignExchange": -44000,
      "otherExpenses": 0,
      "totalExpenses": 61575000,
      "incomeLossBeforeIncomeTax": 5885000,
      "incomeTaxExpense": 1270000,
      "netIncomeLossAndComprehensiveIncomeLoss": 4615000,
      "basicEps": 0.04,
      "dilutedEps": 0.04,
      "weightedAverageSharesOutstandingBasic": 128228000
    },
    "cashFlowStatement": {
      "netIncomeLoss": 4615000,
      "shareBasedCompensation": 1212000,
      "unrealizedLossGainOnFinancialDerivatives": -2176000,
      "nonCashFinanceExpenses": 1289000,
      "depletionAndDepreciation": 31501000,
      "explorationAndEvaluationExpense": 414000,
      "otherIncome": 238000,
      "unrealizedGainLossOnForeignExchange": -44000,
      "deferredIncomeTaxExpense": 1270000,
      "decommissioningExpenditures": -582000,
      "fundsFlow": 37737000,
      "changeInOperatingNonCashWorkingCapital": -3102000,
      "cashFlowsFromOperatingActivities": 34635000,
      "sharesRepurchased": -87000,
      "stockOptionsExercised": 286000,
      "cashDividendsPaid": -3423000,
      "drawDownOfRevolvingLoanFacility": 7138000,
      "increaseDecreaseInBankIndebtedness": 400000,
      "transactionCostsOnDebt": -349000,
      "repaymentOfLeaseLiabilities": -56000,
      "changeInFinancingNonCashWorkingCapital": -87000,
      "cashFlowsFromUsedInFinancingActivities": 3822000,
      "explorationAndEvaluationAssetExpenditures": -1053000,
      "petroleumAndNaturalGasPropertyExpenditures": -37697000,
      "changeInInvestingNonCashWorkingCapital": 244000,
      "cashFlowsUsedInInvestingActivities": -38506000,
      "increaseDecreaseInCash": -49000,
      "cashBeginningOfPeriod": 68000,
      "cashEndOfPeriod": 19000,
      "cashInterestPaid": 4447000
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Mineral/Resource Properties",
        "description": "Exploration and evaluation assets (E&E) for petroleum and natural gas properties",
        "ownershipPercentage": null,
        "value": 18130000,
        "notes": "Primarily undeveloped land; includes transfers to PP&E"
      },
      {
        "type": "Mineral/Resource Properties",
        "description": "Property, plant and equipment (PP&E) - petroleum and natural gas properties",
        "ownershipPercentage": null,
        "value": 369811000,
        "notes": "Includes developed and undeveloped reserves, right-of-use assets"
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited common shares and unlimited preferred shares",
      "issuedShares": 131582315,
      "classesOfShares": ["common", "preferred"],
      "warrants": [],
      "options": [
        {
          "number": 7415400,
          "exercisePrice": 1.37,
          "expiryDate": null
        },
        {
          "number": 834010,
          "exercisePrice": 1.62,
          "expiryDate": null
        },
        {
          "number": 540418,
          "exercisePrice": 2.52,
          "expiryDate": null
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "threeMonthsEndedSept302025": {
          "expensedShareBasedCompensation": 340000,
          "capitalizedShareBasedCompensation": 145000,
          "totalShareBasedCompensation": 485000
        },
        "nineMonthsEndedSept302025": {
          "expensedShareBasedCompensation": 1212000,
          "capitalizedShareBasedCompensation": 517000,
          "totalShareBasedCompensation": 1729000
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Major shareholder (~21% ownership)",
          "description": "Second Lien Facility interest payments",
          "amount": 2100000,
          "period": "Nine months ended September 30, 2025"
        }
      ]
    },
    "subsequentEvents": []
  }
]