277924--1/30/2006--CREDO_PETROLEUM

related topics

{gas, price, oil}

{loss, insurance, financial}

{debt, indebtedness, cash}

{competitive, industry, competition}

{regulation, change, law}

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 contractual, regulatory and other constraints. Increases in taxes on energy sources may adversely affect the company s operations.

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277924--1/30/2006--CREDO_PETROLEUM_CORP