PetroGas Company - Company Overview

Business Focus:
PetroGas Company is engaged in the exploration, development, and production of oil and natural gas reserves in the United States. Its primary operations involve acquiring oil and gas leases, developing these properties through drilling and exploration, and managing assets related to oil and gas extraction.

Historical Business Activities:

• Originally incorporated in 2014 as Alazzio Entertainment Corp., with a business plan focused on photo booth rentals.
• Changed focus to the oil and gas industry following a series of mergers and acquisitions beginning in 2015.
• Acquired rights to oil and gas leases in Texas, Ohio, Oklahoma, Utah, and Texas, including interests in multiple producing and non-producing oil and gas leases.
• Holds a 94% interest in Seabourn Oil Company, LLC, a Texas LLC.

Assets and Operations:

• Owns multiple oil and gas leases, including three producing leases in Texas with acreage in Frio and Atascosa Counties (the Jane Burns “C”, Theo Rogers “C”, and “A” & “D” leases), which are part of the Eagle Ford Shale formation.
• The Burns Lease (160 acres, 99.5% working interest, 74.625% net revenue interest) and Rogers Lease (355 acres, 99.5% working interest) contain multiple wells, although none are currently producing oil.
• Also holds rights to additional acreage and interests in leases in Texas, Ohio, Utah, and Oklahoma.

Current Operations & Strategy:

• Actively seeking to acquire both producing and non-producing leases at discounted market values due to depressed oil and gas prices.
• Plans include raising capital via private placements, exploring opportunities to drill new wells on existing leases, and acquiring deeper rights for potentially higher-yield reservoirs.
• Aims to increase production and revenues by capturing opportunities created by distressed lease assets resulting from low energy prices.

Revenue and Income:

• The company has not recognized any revenue from operations to date.
• Reported a net income of $8,978 for the fiscal year ending March 31, 2025, primarily due to asset retirement obligation gains.
• In the prior year (ending March 31, 2024), the company incurred a net loss of $90,588.

Operational and Financial Metrics:

• No employees are explicitly documented; operations likely managed by a small or minimal staff.
• The company’s financial statements indicate it is in the development stage with ongoing efforts to acquire leases and develop assets.
• As of June 10, 2025, there are 22,996,680 shares of common stock outstanding.

Risk Factors:

• Exploration and development involve significant risks, including unsuccessful drilling attempts, volatile oil prices, and high operational costs.
• Currently, the company’s financial position is fragile with negative working capital ($-790,250 as of March 31, 2025).
• No current revenue or material assets to generate income; future profitability depends on successful acquisitions and operational development.

Summary:
PetroGas Company is a small, early-stage oil and natural gas exploration and development firm primarily operating in Texas with strategic plans to acquire additional leases, seek higher-yield reservoirs, and expand production. Its financial status is characterized by minimal revenue, small income, and significant risk stemming from exploration activities and market volatility.