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Independent Oil Gas

Independence Oil and Gas (ticker: PTOG) is a US-based oil and gas exploration and production company focused on the acquisition and development of onshore oil and gas properties in the United States. The company's primary assets are located in the Cotton Valley Sands formation in East Texas and the Eagle Ford Shale in South Texas.

In terms of recent financial performance, Independence Oil and Gas reported net income of $3.1 million for the third quarter of 2022, compared to a net loss of $3.5 million in the same quarter of 2021. The company's revenues for the third quarter of 2022 were $21.3 million, up from $13.9 million in the third quarter of 2021.

The company has been able to maintain a strong balance sheet with a low debt-to-equity ratio of 0.16 as of September 30, 2022. In terms of growth, Independence Oil and Gas has been actively acquiring and developing new properties, which has led to an increase in its production volumes. In the third quarter of 2022, the company's production volume was 1,585 Boe/d (barrels of oil equivalent per day) up from 1,352 Boe/d in the same quarter of 2021.

It's important to note that the stock market is volatile and past performance is not indicative of future results, it's recommended to conduct your own research and consult a financial advisor before making any investment decisions.

It's also worth mentioning that the company has been focusing on sustainability and reducing its environmental footprint, by implementing initiatives such as reducing freshwater usage, improving its operational efficiency and reducing greenhouse gas emissions.

Please note that this is general information and may not be completely accurate or current, It's recommended to consult the company's official website, financial reports and filings for the most recent and detailed information.