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CNRC Reports Q3 2025 Financials Period Ending September 30, 2025. Provides Shareholder Updates
Prnewswire· 2025-11-11 13:10
Financial Results - Total revenue for Q3 2025 was $1,399,275, a decrease from $4,422,587 in Q3 2024 [5] - Total earnings for Q3 2025 were $493,072, down from $2,526,559 in Q3 2024 [5] - Total revenue for the first nine months of 2025 was $8,004,146, compared to $13,094,326 in the same period of 2024 [5] - Total earnings for the first nine months of 2025 were $2,526,559, down from $8,764,980 in the same period of 2024 [5] - Total assets as of September 30, 2025, were $46,462,495, compared to $73,163,474 a year earlier [5] - The Company recorded a net asset value (NAV) of $0.09 per share for Q3 2025 [5] Corporate Updates - Surya Oil & Gas Corp. controls 34,000 acres in West Virginia with $352 million in certified reserves [2] - The Company is utilizing its proprietary Kubera™ AI technology to identify additional potential reserves [2] - Production is set to recommence in early 2026, focusing on sustainability and operational efficiency [2] - The Company has entered into a joint venture with a Dubai-based oil & gas company to facilitate crude oil and petrochemical trading in MENA countries [5] - Field operations have recommenced across its core acreage, including road and site development to optimize production [5] - A change of control agreement has been established for Aruna Holdings LLC to acquire all Series A Preferred shares [5]
CNRC Reports Q2 2025 Financials Period Ending June 30, 2025; Provides Shareholder Update on Portfolio Companies
Prnewswire· 2025-08-15 12:15
Company Overview - Surya Oil & Gas Corp. (formerly Cunningham Natural Resources Corp.) focuses on traditional oil and gas development and strategic investments in energy and digital transition [2] - The company is a portfolio company of Aruna Holdings LLC, which holds an 80% interest in Surya Oil & Gas Corp. [4] Financial Performance - Total revenue for Q2 2025 was $3,503,039, a decrease from $4,378,799 in the same period last year [6] - Total earnings for Q2 2025 were $1,600,211, down from $2,772,965 year-over-year [6] - For the first six months of 2025, total revenue was $6,604,871, compared to $4,292,940 in the prior year [6] - Total earnings for the first half of 2025 were $2,033,488, down from $2,706,961 [6] - The company recorded a net asset value (NAV) of $0.15 per share for Q2 2025 [6] Corporate Developments - The company executed a change of control agreement for the purchase of all Series A Preferred shares by Aruna Holdings LLC, ensuring at least 80% control [6] - New appointments to the Board of Directors include Manish Patel and Hemal Rathod, with Hemal Rathod becoming the Chief Executive Officer [6] - The company recommenced field operations across its 38,000 acres in West Virginia, focusing on optimizing production from existing oil wells [6] Strategic Partnerships and Technology - Surya Oil & Gas Corp. engaged Harbor Access, a strategic investor relations firm, to enhance market visibility and communication with shareholders [6] - The company upgraded to the OTCID Basic Market from the OTC Pink Current, reflecting a commitment to stronger governance and transparency [6] - Surya agreed to license the proprietary Kubera™ technology from its subsidiary, Surya Energy Services LLC, which offers advanced hydrocarbon detection capabilities [6]