277924--1/14/2008--CREDO_PETROLEUM

related topics

{gas, price, oil}

{loss, insurance, financial}

{debt, indebtedness, cash}

{personnel, key, retain}

{competitive, industry, competition}

{regulation, change, law}

Volatility of oil and natural gas prices could adversely affect the company s profitability and financial condition. Competition for opportunities to replace and increase production and reserves is intense and could adversely affect the company. In the event that the company does not have adequate cash flow to fund operations, it may be required to use debt or equity financing. Reserve quantities and values are subject to many variables and estimates and actual results may vary. The company s reserve quantities and values are concentrated in a relative few properties and fields. Competition for materials and services is intense and could adversely affect the company. The company s hedging arrangements involve credit risk and may limit future revenues from price increases. The marketability of the company s natural gas production is dependent upon infrastructure, such as gathering systems, pipelines and processing facilities, that the company does not own or control. Oil and natural gas operations are inherently risky. The company s operations are subject to a variety of regulatory constraints. Increases in taxes on energy sources may adversely affect the company s operations. The company is highly dependent on the services of one of its officers.

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277924--1/14/2008--CREDO_PETROLEUM_CORP