Business
Church & Crawford Inc reports Increase on BVPS for fiscal year and results of Q2 2022
Church & Crawford Inc reports Increase on BVPS for fiscal year and results of Q2 2022.
About this update from Church & Crawford, Inc.
[{"type":"text","content":"Church & Crawford Inc reports Increase on BVPS for fiscal year and results of Q2 2022 Houston, Texas, Church & Crawford Inc (CCWF) is an oil and gas exploration and production (E&P) company focused on proven fields exploited by well-managed independent oil companies extracting reserves at lower risk and lower cost than unproven prospects. We are focused on domestic and international areas where major oil and gas producing companies have reduced their exploration efforts in search of larger reserves.Management is pleased to announce, that “Book value per share” (BVPS) the ratio of equity available to common shareholders divided by the number of outstanding shares has increased by 15 % from the last quarter. This figure represents the minimum value of a company's equity and measures the book value of a firm on a per-share basis. As of June 30, 2022, the company had proved reserves of 9.1 million barrels of oil equivalent (“BOE”) (84% oil) with a PV10 value of $58.8 million based on SEC pricing, according to our internal reserve report completed and finished on June 2022.In addition, a review of the company’s unaudited second-quarter report for the year 2022 for the end of June 30, (filed early) reflects that the Company reported total assets of $52,508,778. The company's recent activities contributed to the optimization and improvement of the company's overall value to create further revenue income, in our properties located in Beaver, Canadian, and Creek counties in Oklahoma to optimize our existent oil & gas production to the maximum levels.Our plan for Q3 and Q4 of this year 2022, focuses on our properties located in the Anadarko Basin, additional field services will be needed it to increase the daily oil and gas production to further revenue income. The Company is completing soon a debt bond financing of approximately $5 million to maximize additional operations and new acquisitions, in supporting Church & Crawford’s core business.Our objective is to maximize our reserve assets to maximize our shareholder value.Legal Notice Regarding Forward-Looking Statements:This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. Abou...