Norris Industries, Inc. Company Summary

Business Focus

• Norris Industries, Inc. (NRIS) is an oil and natural gas exploration and production company operating primarily in Texas.
• The company focuses on the development, production, and maintenance of existing crude oil and natural gas properties.
• Its operations are concentrated in the Ellenberger formation in Coleman County, Jack County, and Palo Pinto County, Texas.
• The company’s strategy includes acquiring and developing small, shallow, low-risk oil and gas fields with proven reserves, applying enhanced oil recovery (EOR) techniques, and managing its existing leasehold assets to optimize production.

Assets and Properties

• Owns approximately 4,200 gross acres across various regions in North Central and Northeast Texas.
• Holds interests in multiple leaseholds including:
  • The Bend Arch Lion 1A JV (160 acres, with 4 producing wells, acquired in 2015 with a 39.5% working interest).
  • The Bend Arch Lion 1B JV (220 acres, with 6 wells, acquired in 2015 with a 46% working interest).
  • The Marshall Walden JV (45 acres, with 8 wells, managed since 2016).
  • Leases in Jack County and Palo Pinto County with a total of 20 gross wells (purchased in 2017).

Revenue and Financial Highlights (Year Ended February 28, 2025)

• Total Revenue: $329,334 from oil and gas sales.
• Production: Slight decrease compared to prior year, attributed to lower production levels.
• Expenses:
  • Lease operating expenses: $503,417.
  • General and administrative expenses: $189,611.
  • Depletion, depreciation, and accretion: $54,675.
  • Interest expense: $143,205.
• Net Loss: $561,574 (a reduction from a net loss of $643,335 in the prior year).

Ownership and Operations

• The company has a limited number of employees and personnel:
  • Patrick Norris (CEO, President, CFO, and Chairman): involved in management and operations.
  • Ross Henry Ramsey (President of Oil Division and Director): involved in exploration, development, and operational support.
  • Lisa Boudoin (Administrative functions).
• The company’s stock trades occasionally on OTC markets under the ticker "NRIS".
• As of May 2025, there are 108,245,688 shares outstanding.

Market and Stock

• The stock is considered a penny stock, with minimal trading activity and low liquidity.
• No dividends are paid; policy is to reinvest earnings to support growth.
• No equity compensation plans are currently in place.

Strategic Intent

• Focus on developing existing properties using outside expertise and EOR technologies.
• Manage properties actively to divest non-core assets and focus on high-potential leaseholds.
• Seek additional funding through internal cash flows, existing credit lines, or external investors to support operations and acquisitions.
• Long-term goal to grow reserves, production, and cash flow, and possibly diversify by acquiring oilfield services and other niche enterprises.

Key Risks

• Limited operating history and dependence on small-scale assets.
• Market volatility and fluctuating oil and gas prices impact revenue.
• Dependence on key personnel and limited capital resources.
• Significant reliance on third-party suppliers, and geopolitical risks affecting oil prices.
• The company is in a development stage with ongoing net losses and has substantial debt obligations with related parties.

Conclusion

Norris Industries, Inc. is a small, Texas-based exploration and production company focused on low-risk, shallow oil and natural gas fields with proven reserves. It aims to enhance its properties' production through technical improvements and strategic acquisitions while managing a minimal workforce and financial resources.