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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K - page 12 / 83

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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K

o

future; we will be able to acquire assets on

economically

acceptable

o

terms; any acquisitions will operating surplus; or

not

be

dilutive

to

earnings

and

o

any our

debt

incurred to finance an

ability

to

make

distributions

acquisition to you.

will not affect

If we

are

unable

to make acquisitions on economically

and

acceptable terms, our future financial performance performance of our present gas gathering network.

will be

operationally limited to the

Our acquisition strategy involves many risks, including:

o

difficulties

inherent in the

integration

of operations

and

o

systems; the diversion of concerns; and

management's

attention

from other business

o

the potential loss of key employees of acquired businesses.

In addition, future acquisitions upon the nature, size and timing

may involve significant expenditures. Depending

of

future

acquisitions,

we

may

be

required

to

  • -

    10-

secure finan available to

cing. We cannot assure us on acceptable terms.

you that

additional

financing

will be

OUR BUSINESS PROPANE, WHIC

IS DEPENDENT UPON PRICES H ARE BEYOND OUR CONTROL AND

AND MARKET

HAVE

BEEN

DEMAND FOR NATURAL

EXTREMELY

VOLATILE.

GAS

AND

primarily wi

th respect to

processing an

d distribution

commodity prices, as a result of our

in own

We are subjec

t to significant

risks due to

fluctuations

may

we

that

the prices of activities.

gas

The markets a These factors changes in ma

nd prices for residue gas depend upon

include demand rket and economic

for oil, and natural conditions and other

factors beyond our control. gas, which fluctuate with factors, including:

  • o

    the impact of weather on the demand for oil and natural gas;

    • o

      the level of domestic oil and natural gas production;

    • o

      the availability of imported oil and natural gas;

    • o

      the availability of local, intrastate and interstate

transportation systems;

  • o

    the availability and marketing of competitive fuels;

    • o

      the impact of energy conservation efforts; and

    • o

      the extent of governmental regulation and taxation.

WE GENERALLY DO NOT OWN THE LAND ON WHICH OUR PIPELINES ARE CONSTRUCTED AND WE ARE SUBJECT TO THE POSSIBILITY OF INCREASED COSTS FOR THE LOSS OF LAND USE.

We

generally

Instead,

we

do not own the

obtain

the

right

land on

which

to

construct

our pipelines and operate the

are constructed. pipelines on other

people's land for a period of time. business could be affected negatively.

If we were to lose

these

rights,

our

RISKS RELATED TO THE RETAIL PROPANE AND ASSOCIATED BUSINESSES

o

Decreases in the demand for propane

may adversely operations.

affect

our

financial

because of warmer weather condition and results of

o

Weather conditions have a significant impact on the demand for

12

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