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Independent Oil Gas

Independence Oil and Gas (ticker: OAKR) is a US-based independent exploration and production company engaged in the acquisition, exploration, and development of oil and natural gas properties. The company's headquarters are located in Houston, Texas.

Here is some general information about OAKR's historical financial performance and growth:

1. Revenue: For the fiscal year 2020, the company reported total revenues of $94.5 million, a decrease of 45.5% compared to the previous year. This decline is primarily due to lower commodity prices caused by the COVID-19 pandemic.

2. Net Income: OAKR reported a net loss of $134.6 million for FY2020, which was attributed to lower revenues, impairments, and other non-cash charges.

3. Earnings Per Share (EPS): The company had negative EPS for the past few years, with a loss per share of $1.02 for FY2020.

4. Cash Flow: Cash flow from operations was $2.8 million for FY2020, compared to $29.8 million for FY2019. This decrease resulted from lower revenue and higher capital expenditures during 2020.

5. Capital Expenditures: OAKR's total capital expenditures in 2020 amounted to $110.1 million, primarily in the acquisition, exploration, and development of oil and natural gas properties.

6. Producing Assets: As of December 31, 2020, the company owned approximately 96,000 net acres of land with proved reserves of about 38.5 million barrels of oil equivalent (MMBOE) and daily production of around 7,200 barrels of oil equivalent per day (BOE/D).

In terms of growth, Independence Oil and Gas has been facing challenges due to the volatility in oil and gas prices and the global energy transition. Despite these challenges, the company continues to focus on operational efficiency, cost management, and a disciplined approach to capital investment to maintain profitability and competitiveness.

It is essential to keep in mind that stock prices depend on various factors, such as market conditions, company performance, and broader economic trends. It is always advisable to consult financial advisors or investment professionals before making investment decisions.