Forward-Looking Statements

This website contains statements about the future, sometimes referred to as "forward-looking" statements. Forward-looking statements are typically identified by the use of the words "believe," "may," "could," "should," "expect," "anticipate," "estimate," "project," "propose," "plan," "intend," and similar words and expressions. Statements that describe our future strategic plans, goals, or objectives are also forward-looking statements. We intend that the forward-looking statements will be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Readers of this website are cautioned that any forward-looking statements, including those regarding us or our management's current beliefs, expectations, anticipations, estimations, projections, strategies, proposals, plans, or intentions, are not guarantees of future performance or results of events and involve risks and uncertainties, such as: 

• whether we will be able to discover and produce gas or oil in commercial quantities from any exploration prospect;

• whether we will be able to borrow funds to develop our gas and oil discoveries in Poland from the Royal Bank of Scotland, our current principal lender, or from any other commercial lender, even if we increase substantially the quantity and value of our reserves that we may be willing to encumber to secure repayment of such borrowings;

• whether the quantities of gas or oil we discover will be as large as our initial estimate of an exploration target area's gross unrisked potential;

• whether the estimated proved quantities of gas and oil reserves that we report using deterministic methods currently mandated by the Securities and Exchange Commission will be as large as the estimated quantities of proved or probable gas and oil reserves that we otherwise publicly announce may be present using probabilistic methods;

• whether actual exploration risks, schedules, and sequences will be consistent with our plans and forecasts; 

• the future results of drilling or producing individual wells and other exploration and development activities; 

• the prices at which we may be able to sell gas or oil; 

• foreign currency exchange rate fluctuations;

• the financial and operating viability and stability of third parties with which we conduct business and on which we rely to supply goods and services and to purchase our gas and oil production;

• exploration and development priorities and the financial and technical resources of the Polish Oil and Gas Company, our principal joint venture and strategic partner in Poland or other future partners;

• uncertainties inherent in estimating quantities of proved reserves and actual production rates and associated costs;

• the cost and availability of additional capital that we may require and possible related restrictions on our future operating or financing flexibility;

• our future ability to attract industry or financial participants to share the costs of exploration, exploitation, development, and acquisition activities;

• uncertainties of certain terms to be determined in the future relating to our gas and oil interests, including exploitation fees, royalty rates, and other matters; 

• uncertainties regarding future political, economic, regulatory, fiscal, taxation, and other policies in Poland and the European Union; and 

• other factors that are not listed above.

The forward-looking information is based on present circumstances and on our predictions respecting events that have not occurred, that may not occur, or that may occur with different consequences from those now assumed or anticipated. Actual events or results may differ materially from those discussed in the forward-looking statements. The forward-looking statements included in this website are made only as of the date first made.