None
SEDAR Interim Financial Statements
SDE · Price
[
{
"companyName": "Spartan Delta Corp.",
"reportingPeriodEnd": "2025-09-30",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"cashAndCashEquivalents": 333,
"restrictedCash": 150811,
"accountsReceivable": 37360,
"prepaidExpensesAndDeposits": 10623,
"derivativeFinancialInstrumentsCurrent": 7554,
"totalCurrentAssets": 206681,
"explorationAndEvaluationAssets": 117425,
"propertyPlantAndEquipment": 722960,
"rightOfUseAssets": 19262,
"derivativeFinancialInstrumentsNonCurrent": 1407,
"deferredIncomeTaxAsset": 20480,
"totalAssets": 1088215,
"accountsPayableAndAccruedLiabilities": 118103,
"dividendsPayable": 150811,
"derivativeFinancialInstrumentsCurrentLiabilities": 0,
"leaseLiabilitiesCurrent": 9578,
"decommissioningObligationsCurrent": 2000,
"totalCurrentLiabilities": 280492,
"derivativeFinancialInstrumentsNonCurrentLiabilities": 2584,
"longTermDebt": 107087,
"leaseLiabilitiesNonCurrent": 11350,
"decommissioningObligationsNonCurrent": 77756,
"totalLiabilities": 479269,
"shareCapital": 112265,
"contributedSurplus": 12003,
"retainedEarnings": 484678,
"totalShareholdersEquity": 608946,
"totalLiabilitiesAndShareholdersEquity": 1088215,
"cashPerShare": 0.0017,
"workingCapitalPerShare": -0.3743
},
"incomeStatement": {
"revenueOilAndGasSales": 254989,
"royalties": -32664,
"oilAndGasSalesNetOfRoyalties": 222325,
"salesOfCommoditiesPurchasedFromThirdParties": 14030,
"processingAndOther": 6766,
"totalRevenue": 243121,
"gainOnDerivativeFinancialInstruments": 21550,
"operatingExpenses": 64742,
"transportationExpenses": 19024,
"costOfCommoditiesPurchasedFromThirdParties": 13398,
"generalAndAdministrativeExpenses": 12303,
"shareBasedCompensationExpense": 9602,
"financingExpenses": 4131,
"explorationAndEvaluationExpenses": 68,
"depletionDepreciationAndImpairment": 99850,
"totalExpenses": 223118,
"otherIncomeExpensesGainOnSaleOfAssets": 23,
"otherIncome": 3705,
"foreignExchangeGainLoss": -74,
"totalOtherIncomeExpenses": 3654,
"netIncomeBeforeIncomeTaxes": 45207,
"deferredIncomeTaxExpense": 11514,
"netIncomeAndComprehensiveIncome": 33693,
"basicEarningsPerShare": 0.17,
"dilutedEarningsPerShare": 0.17,
"weightedAverageSharesOutstandingBasic": 197231,
"weightedAverageSharesOutstandingDiluted": 200386
},
"cashFlowStatement": {
"operatingActivitiesNetIncome": 33693,
"unrealizedGainLossOnDerivatives": -3432,
"unrealizedForeignExchangeLoss": 14,
"shareBasedCompensation": 9602,
"financingExpenses": 1995,
"explorationAndEvaluationExpenses": 68,
"depletionDepreciationAndImpairment": 99850,
"gainOnSaleOfAssets": -23,
"otherIncome": -70,
"deferredIncomeTaxExpense": 11514,
"settlementOfDecommissioningObligations": -1975,
"changeInNonCashWorkingCapitalOperating": 2583,
"cashProvidedByOperatingActivities": 153889,
"financingActivitiesAdvancesRepaymentsOfLongTermDebtNetOfCosts": -13825,
"issueOfCommonSharesNetOfCosts": 93170,
"leasePayments": -7427,
"dividendsPaid": 0,
"transferFromRestrictedCash": 0,
"changeInNonCashWorkingCapitalFinancing": 0,
"cashProvidedByUsedInFinancingActivities": 71918,
"investingActivitiesExplorationAndEvaluationAssets": -33988,
"propertyPlantAndEquipmentAdditions": -227443,
"acquisitions": -7118,
"dispositions": 47,
"changeInNonCashWorkingCapitalInvesting": 42104,
"cashUsedInInvestingActivities": -226398,
"netChangeInCashAndCashEquivalents": -591,
"cashAndCashEquivalentsBeginningOfPeriod": 924,
"cashAndCashEquivalentsEndOfPeriod": 333
},
"investmentsAndOtherAssets": [
{
"type": "Exploration and Evaluation Assets",
"description": "Undeveloped land and seismic",
"ownershipPercentage": null,
"value": 117425,
"notes": "Carrying value"
},
{
"type": "Property, Plant and Equipment",
"description": "Developed crude oil and natural gas properties, facilities and pipelines",
"ownershipPercentage": null,
"value": 722960,
"notes": "Net carrying value"
}
],
"shareStructure": {
"authorizedShares": "unlimited",
"issuedShares": 200490000,
"classesOfShares": ["common", "preferred", "special"],
"warrants": [],
"options": [
{
"number": 33000,
"exercisePrice": 2.94,
"expiryDate": null
},
{
"number": 1213000,
"exercisePrice": 3.13,
"expiryDate": null
},
{
"number": 4457000,
"exercisePrice": 3.64,
"expiryDate": null
},
{
"number": 43000,
"exercisePrice": 4.21,
"expiryDate": null
},
{
"number": 98000,
"exercisePrice": 4.32,
"expiryDate": null
}
],
"rightsConvertibleInstruments": null
},
"managementCompensation": {
"currency": "CAD",
"periods": [
{
"periodEnd": "2025-09-30",
"periodLength": "3 months",
"components": {
"shareBasedCompensation": 3538
}
},
{
"periodEnd": "2024-09-30",
"periodLength": "3 months",
"components": {
"shareBasedCompensation": 2036
}
},
{
"periodEnd": "2025-09-30",
"periodLength": "9 months",
"components": {
"shareBasedCompensation": 9602
}
},
{
"periodEnd": "2024-09-30",
"periodLength": "9 months",
"components": {
"shareBasedCompensation": 5555
}
}
],
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Law firm where corporate secretary is a partner",
"description": "Legal fees",
"amount": 1300,
"period": "2025-09-30"
}
]
},
"subsequentEvents": [
{
"eventDate": "2025-10-07",
"description": "Credit Facility Amendment: increased borrowing base from $250 million to $450 million, introduced new debt to adjusted EBITDA covenant for next five fiscal quarters",
"impactValue": null
},
{
"eventDate": "2025-10-20",
"description": "Asset Swap: executed non-monetary exchange of undeveloped land parcels in the Gilby area with two arm's length counterparties",
"impactValue": null
},
{
"eventDate": null,
"description": "Entered into additional WTI and natural gas derivative swaps for 2026 and 2027",
"impactValue": null
}
]
}
]
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Jun 05, 2026 · 16:15