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Kraig Biocraft Laboratories Announces New Spider Silk Parental Strain for Expanded Commercial Production

Kraig Biocraft Laboratories Announces New Spider Silk Parental Strain for Expanded Commercial Production

ANN ARBOR, Mich., May 28, 2025 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ('Company' or 'Kraig Labs'), a world leader in spider silk technology*, announces today the successful development of a new recombinant spider silk parental line, purpose-built for large-scale commercial production.
This newly developed strain represents the third commercial production line created by Kraig Labs as it executes on its strategy to expand output capacity. The addition of this next-generation silk-producing line comes as the Company ramps up production to fulfill current material requests and strategically build inventory for future sales.
'Our team continues to deliver on key milestones as we scale the commercialization of spider silk,' said Company Founder and CEO, Kim Thompson. 'With the development of this new production strain, we are not only increasing our ability to meet existing demand, but also reinforcing the foundation for our future growth. This new strain is part of the production roadmap we outlined in 2024 and a key part of our transition to a full double hybrid production system.'
This latest strain is part of Kraig Labs' broader development pipeline, which includes several additional parental lines currently in advanced stages of development. These lines are designed to enable a transition to a double hybrid production model—expected to deliver significant performance improvements, including higher silk yields, increased colony resilience, and reduced overall production costs.
'As we prepare to implement double hybrid crosses into our production platform, we are opening the door to greater scalability, efficiency, and product consistency,' Thompson continued. 'This is a key step forward in our mission to bring the power of spider silk to mainstream markets.'
The Company is continuing its focus on building a robust and scalable production system as it transitions from pilot operations to full-scale manufacturing.
For the latest updates on Kraig Labs and its pioneering spider silk technologies, visit www.kraiglabs.com .
For details about other recent Kraig Labs advancements, please watch the Company's investor conference at www.kraiglabs.com/videos or on the Company's YouTube Channel https://www.youtube.com/@kraigbiocraftlaboratories2270 .
To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news
* For a description of our historical leadership in this technology, please follow this link https://www.kraiglabs.com/world-leader/
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. ( www.KraigLabs.com ), a reporting biotechnology company is the leading developer of genetically engineered spider silk-based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company's future and expectations other than historical facts are 'forward-looking statements.' These statements are made on the basis of management's current views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as 'believes,' 'plans,' 'expects,' 'anticipates,' 'foresees,' 'estimated,' 'hopes,' 'if,' 'develops,' 'researching,' 'research,' 'pilot,' 'potential,' 'could' or other words or phrases of similar import. Forward-looking statements include descriptions of the Company's business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
Ben Hansel, Hansel Capital, Inc.
(720) 288-8495
[email protected]
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World Acceptance Corporation Reports Fiscal 2026 First Quarter Results
World Acceptance Corporation Reports Fiscal 2026 First Quarter Results

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World Acceptance Corporation Reports Fiscal 2026 First Quarter Results

GREENVILLE, S.C.--(BUSINESS WIRE)--World Acceptance Corporation (NASDAQ: WRLD) today reported financial results for its first quarter of fiscal 2026. First fiscal quarter highlights During its first fiscal quarter, World Acceptance Corporation grew outstanding loans by $38.7 million from March 31, 2025, compared to a slight decrease in outstanding loans in the first quarter of the prior year. Total delinquency on a recency basis decreased $15.9 million as compared to June 30, 2024, with loans 61 days or more past due on a recency basis decreasing $3.4 million compared to June 30, 2024, and $5.6 million compared to March 31, 2025. This loan growth and decrease in delinquencies positions us for higher revenue and lower charge-offs in the coming quarters. 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Portfolio results Gross loans outstanding were $1.26 billion as of June 30, 2025, a 0.8% decrease from the $1.27 billion of gross loans outstanding as of June 30, 2024. This is a substantial improvement from the 4.0% year over year decrease as of March 31, 2025. During the most recent quarter, gross loans outstanding increased sequentially 3.2%, or $38.7 million, from $1.23 billion as of March 31, 2025, compared to a decrease of 0.2%, or $2.3 million, in the comparable quarter of the prior year. During the most recent quarter, our new, former and current customer borrowing increased when comparing the same quarter of fiscal year 2025. Specifically, during the quarter, new, former and refinance customer loan volume increased 30.8%, 6.3% and 9.6%, respectively, compared to the same quarter of fiscal year 2025. Our customer base increased by 4.0% during the twelve-month period ended June 30, 2025, compared to a decrease of 2.6% for the comparable period ended June 30, 2024. During the quarter ended June 30, 2025, the number of unique borrowers in the portfolio increased by 0.8%, compared to an increase of 0.5% during the quarter ended June 30, 2024. As we continue to shrink the average gross loan balance in the portfolio through increasing new and former customer small loan volume and maintain the tighter underwriting of large loans, we expect the portfolio gross and net yield to continue to improve. The following table includes the volume of gross loan origination balances, excluding tax advance loans, by customer type for the following comparative quarterly periods: As of June 30, 2025, the Company had 1,014 open branches. For branches open at least twelve months, same store gross loans increased 1.1% in the twelve-month period ended June 30, 2025, compared to a decrease of 8.3% for the twelve-month period ended June 30, 2024. For branches open throughout both periods, the customer base over the twelve-month period ended June 30, 2025, increased 5.9%, compared to a decrease of 2.1% for the twelve-month period ended June 30, 2024. Three-month financial results Net income for the first quarter of fiscal 2026 decreased to $1.3 million, compared to $9.9 million for the same quarter of the prior year. Net income per diluted share decreased to $0.25 per share in the first quarter of fiscal 2026, compared to $1.79 per share for the same quarter of the prior year. Although net income was negatively impacted by an increase in provision for credit losses, partially related to our new growth, we expect solid returns on our fiscal 2025 originations given early payment performance and yield. Total revenues for the first quarter of fiscal 2026 increased to $132.5 million, a 2.3% increase from $129.5 million for the same quarter of the prior year. Interest and fee income increased 3.7%, from $111.2 million in the first quarter of fiscal 2025, to $115.3 million in the first quarter of fiscal 2026. Insurance income decreased by 10.8% to $11.5 million in the first quarter of fiscal 2026, compared to $12.9 million in the first quarter of fiscal 2025. The large loan portfolio decreased from 54.5% of the overall portfolio as of June 30, 2024, to 46.6% as of June 30, 2025. Interest and insurance yields for the quarter ended June 30, 2025, increased 234 basis points, compared to the quarter ended June 30, 2024. Other income increased $0.2 million, or 3.4%, to $5.6 million in the first quarter of fiscal 2026, compared to $5.4 million in the first quarter of fiscal 2025. Revenues from our tax return preparation business increased by $0.4 million, or 21.6%, in the first quarter of fiscal 2026, compared to the first quarter of fiscal 2025 due to an increase in our average preparation fee. 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Accounts 61 days or more past due decreased to 5.4% on a recency basis at June 30, 2025, compared to 5.6% at June 30, 2024 and 6.0% at March 31, 2025. Our allowance for credit losses as a percent of net loans receivable was 11.6% at June 30, 2025 and June 30, 2024. Recency delinquency on accounts at least 90 days past due decreased from 3.4% at June 30, 2024, to 3.3% at June 30, 2025. Recency delinquency on accounts 0 to 60 days past due decreased from 20.0% at June 30, 2024, to 19.2% at June 30, 2025. The table below is updated to use the customer tenure-based methodology that aligns with our CECL methodology. After experiencing rapid portfolio growth during fiscal years 2019 and 2020, primarily in new customers, our gross loan balance experienced pandemic related declines in fiscal 2021 before rebounding during fiscal 2022. Over the last three years, we have tightened our lending to new customers substantially. The tables below illustrate the changes in the portfolio weighting. 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Salary expense increased approximately $1.1 million, or 3.6%, during the quarter ended June 30, 2025, compared to the quarter ended June 30, 2024. Our headcount as of June 30, 2025, decreased 1.4% compared to June 30, 2024. Benefit expense increased approximately $2.2 million, or 31.7%, when comparing the quarterly periods ended June 30, 2025 and 2024. The increase in benefit expense is primarily the result of several large claims experienced during the quarter. Incentive expense increased $5.7 million in the first quarter of fiscal 2026 compared to the first quarter of fiscal 2025. The increase in incentive expense is primarily due to a $4.2 million increase in share based compensation expense and a $1.6 million increase in field bonus expense. Share based compensation expense increased due to share grants in December of 2024 and June of 2025. The prior year quarter also included a $1.8 million reversal of share based compensation expense related to the retirement of an officer. Occupancy and equipment expense decreased $0.4 million, or 3.1%, when comparing the quarterly periods ended June 30, 2025 and 2024. Advertising expense increased $0.6 million, or 38.8%, in the first quarter of fiscal 2026, compared to the first quarter of fiscal 2025 due to increased spending on customer acquisition programs. Interest expense for the quarter ended June 30, 2025, decreased by $0.1 million, or 1.4%, from the corresponding quarter of the previous year. Interest expense decreased due to a 7.2% decrease in average debt outstanding for the quarter and a 2.7% decrease in the effective interest rate from 8.6% to 8.3%. The average debt outstanding decreased from $491.6 million to $456.2 million, when comparing the quarters ended June 30, 2024 and 2025. The Company's debt to equity ratio increased to 1.1:1 at June 30, 2025, compared to 1.2:1 at June 30, 2024. As of June 30, 2025, the Company had $471.7 million of debt outstanding, net of unamortized debt issuance costs related to the unsecured senior notes payable. The Company repurchased and canceled $15.6 million of its previously issued bonds for a purchase price of $15.5 million during the first quarter of fiscal 2026. Other key return ratios for the first quarter of fiscal 2026 included a 7.7% return on average assets and a return on average equity of 19.0% (both on a trailing twelve-month basis). The Company repurchased 87,609 shares of its common stock at an aggregate purchase price of approximately $13.0 million during the first quarter of fiscal 2026. This is in addition to repurchases of 400,617 shares during fiscal 2025 at an aggregate purchase price of approximately $54.2 million. As of June 30, 2025, the Company had approximately $7.2 million in aggregate remaining repurchase capacity under the terms of its senior unsecured notes payable. The Company repurchased 295,201 shares during fiscal 2024 at an aggregate purchase price of approximately $36.2 million. The Company had approximately 5.2 million common shares outstanding, excluding 246,186 unvested restricted shares, as of June 30, 2025. About World Acceptance Corporation (World Finance) Founded in 1962, World Acceptance Corporation (NASDAQ: WRLD), is a people-focused finance company that provides personal installment loan solutions and personal tax preparation and filing services to over one million customers each year. Headquartered in Greenville, South Carolina, the Company operates more than 1,000 community-based World Finance branches across 16 states. The Company primarily serves a segment of the population that does not have ready access to credit; however, unlike many other lenders in this segment, we strive to work with our customers to understand their broader financial pictures, ensure they have the ability and stability to make payments, and help them achieve their financial goals. For more information, visit First quarter conference call The senior management of World Acceptance Corporation will be discussing these results in its quarterly conference call to be held at 10:00 a.m. Eastern Time today. A simulcast of the conference call will be available on the Internet at The call will be available for replay on the Internet for approximately 30 days. During the conference call, the Company may discuss and answer questions concerning business and financial developments and trends that have occurred after quarter-end. The Company's responses to questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been disclosed previously. Cautionary Note Regarding Forward-looking Information This press release may contain various 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, that represent the Company's current expectations or beliefs concerning future events. Statements other than those of historical fact, as well as those identified by words such as 'anticipate,' 'estimate,' intend,' 'plan,' 'expect,' 'project,' 'believe,' 'may,' 'will,' 'should,' 'would,' 'could,' 'probable' and any variation of the foregoing and similar expressions are forward-looking statements. Such forward-looking statements are inherently subject to risks and uncertainties. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include the following: recently enacted, proposed or future legislation and the manner in which it is implemented, including pursuant to policies of the new U.S. administration; changes in the U.S. tax code; the nature and scope of regulatory authority, particularly discretionary authority, that is or may be exercised by regulators, including, but not limited to, U.S. Consumer Financial Protection Bureau, and individual state regulators having jurisdiction over the Company; the unpredictable nature of regulatory examinations, proceedings and litigation; employee misconduct or misconduct by third parties; uncertainties associated with management turnover and the effective succession of senior management; media and public characterization of consumer installment loans; labor unrest; the impact of changes in accounting rules and regulations, or their interpretation or application, which could materially and adversely affect the Company's reported consolidated financial statements or necessitate material delays or changes in the issuance of the Company's audited consolidated financial statements; the Company's assessment of its internal control over financial reporting; changes in interest rates; the impact of inflation; risks relating to the acquisition or sale of assets or businesses or other strategic initiatives, including increased loan delinquencies or net charge-offs, the loss of key personnel, integration or migration issues, the failure to achieve anticipated synergies, increased costs of servicing, incomplete records, and retention of customers; risks inherent in making loans, including repayment risks and value of collateral; cybersecurity threats or incidents, including the potential or actual misappropriation of assets or sensitive information, corruption of data or operational disruption and the cost of the associated response thereto; our dependence on debt and the potential impact of limitations in the Company's amended revolving credit facility or other impacts on the Company's ability to borrow money on favorable terms, or at all; the timing and amount of revenues that may be recognized by the Company; changes in current revenue and expense trends (including trends affecting delinquency and charge-offs); the impact of extreme weather events and natural disasters; changes in the Company's markets and general changes in the economy (particularly in the markets served by the Company). 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(unaudited and in thousands) March 31, 2025 June 30, 2024 ASSETS Cash and cash equivalents $ 8,126 $ 9,730 $ 11,119 Gross loans receivable 1,264,341 1,225,636 1,274,819 Less: Unearned interest, insurance and fees (326,215 ) (309,320 ) (330,334 ) Allowance for credit losses (109,027 ) (103,347 ) (109,643 ) Loans receivable, net 829,099 812,969 834,842 Income taxes receivable 7,629 — 3,951 Operating lease right-of-use assets, net 74,572 76,235 80,866 Property and equipment, net 19,138 19,766 22,199 Deferred income taxes, net 29,127 33,291 32,425 Other assets, net 42,431 40,871 45,599 Goodwill 7,371 7,371 7,371 Intangible assets, net 6,564 7,394 10,064 Total assets $ 1,024,057 $ 1,007,627 $ 1,048,436 LIABILITIES & SHAREHOLDERS' EQUITY Liabilities: Senior notes payable $ 302,674 $ 262,451 $ 241,728 Senior unsecured notes payable, net 169,064 184,418 251,014 Income taxes payable — 223 — Operating lease liability 77,087 78,690 83,136 Accounts payable and accrued expenses 47,381 42,365 49,947 Total liabilities 596,206 568,147 625,825 Shareholders' equity 427,851 439,480 422,611 Total liabilities and shareholders' equity $ 1,024,057 $ 1,007,627 $ 1,048,436 Expand WORLD ACCEPTANCE CORPORATION AND SUBSIDIARIES (unaudited and in thousands, except percentages and branches) Three months ended June 30, 2025 2024 Gross loans receivable $ 1,264,341 $ 1,274,819 Average gross loans receivable (1) 1,239,483 1,270,677 Net loans receivable (2) 938,126 944,485 Average net loans receivable (3) 922,484 942,603 Expenses as a percentage of total revenue: Provision for credit losses 38.1 % 35.1 % General and administrative 53.1 % 47.4 % Interest expense 7.3 % 7.5 % Operating income as a % of total revenue (4) 8.7 % 17.5 % Loan volume (5) 751,502 682,197 Net charge-offs as percent of average net loans receivable on an annualized basis 19.4 % 16.4 % Return on average assets (trailing 12 months) 7.7 % 7.1 % Return on average equity (trailing 12 months) 19.0 % 18.9 % Branches opened or acquired (merged or closed), net (10 ) (1 ) Branches open (at period end) 1,014 1,047 Expand (1) Average gross loans receivable is determined by averaging month-end gross loans receivable over the indicated period, excluding tax advances. (2) Net loans receivable is defined as gross loans receivable less unearned interest and deferred fees. (3) Average net loans receivable is determined by averaging month-end gross loans receivable less unearned interest and deferred fees over the indicated period, excluding tax advances. (4) Operating income is computed as total revenues less provision for credit losses and general and administrative expenses. (5) Loan volume includes all loan balances originated by the Company. It does not include loans purchased through acquisitions. Expand

DocGo to Announce Second Quarter 2025 Results on Thursday, August 7, 2025
DocGo to Announce Second Quarter 2025 Results on Thursday, August 7, 2025

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DocGo to Announce Second Quarter 2025 Results on Thursday, August 7, 2025

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NOG Provides Update on Second Quarter Hedging Results, Ground Game Progress and Other Matters
NOG Provides Update on Second Quarter Hedging Results, Ground Game Progress and Other Matters

Business Wire

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NOG Provides Update on Second Quarter Hedging Results, Ground Game Progress and Other Matters

MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) ('NOG' or the 'Company') today provided an update on a number of business matters including second quarter hedging results, an update on ground game transactions as well as a material settlement of a legal matter. BUSINESS UPDATE Unrealized mark-to-market gains on derivatives for the second quarter were an estimated $65 – $70 million, driven by changes to the value of the Company's derivatives portfolio. Realized hedge gains were an estimated $58 - $63 million, driven by the Company's natural gas, crude oil and basis hedges. The Company continues to execute its policy of protecting its capital program by periodically entering into financial derivative instruments with counterparties to lock in future commodity prices on a portion of its expected production. NOG has added additional hedges since its first quarter report, including hedges to oil, natural gas, and Waha, Midland-Cushing and M2 basis hedges. 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The following table summarizes NOG's open oil commodity derivative contracts scheduled to settle after June 30, 2025. (1) Includes derivative contracts entered into through July 18, 2025. This table does not include volumes subject to swaptions and call options, which are crude oil derivative contracts NOG has entered into which may increase swapped volumes at the option of NOG's counterparties. This table does not include basis swaps. For additional information, see Note 10 to our financial statements included in our Form 10-Q to be filed with the SEC for the quarter ended June 30, 2025 on or around August 1, 2025. Expand The following table summarizes NOG's open gas commodity derivative contracts scheduled to settle after June 30, 2025. (1) Includes derivative contracts entered into through July 18, 2025. This table does not include volumes subject to swaptions and call options, which are natural gas derivative contracts NOG has entered into which may increase swapped volumes at the option of NOG's counterparties. This table does not include basis swaps. For additional information, see Note 10 to our financial statements included in our Form 10-Q to be filed with the SEC for the quarter ended June 30, 2025 on or around August 1, 2025. Expand The following table summarizes NOG's open NGL commodity derivative swap contracts scheduled to settle after June 30, 2025. GROUND GAME UPDATE Alongside reduced commodity prices from the prior quarter, the Company saw increased success in its quarterly Ground Game activity. The Company completed 22 ground game transactions in the second quarter adding 4.8 net wells and approximately 2,600 net acres. The transactions totaled approximately $23.8 million of initial capital with approximately $7.3 million in incremental development capital. The transactions were across all four of NOG's major basins. The Company believes that the volume of opportunities relative to a year ago has expanded spurred by the current weakness and tepid outlook in commodity pricing. LEGAL SETTLEMENT In June 2025, the Company entered into a settlement and mutual release agreement (the 'Settlement Agreement') with an operator in North Dakota (the 'Operator'). Pursuant to the Settlement Agreement, the Operator and the Company have settled and permanently released certain claims of the Company relating to certain post-production costs previously deducted from revenues. Pursuant to the settlement, the Company will receive approximately $81.7 million, recorded within Oil and Gas Sales in its June 30, 2025, condensed statements of operations. The Company expects to receive a net cash settlement of $48.6 million after deducting approximately $33.1 million in legal settlement expenses. The cash proceeds are expected to be received in the third quarter of 2025. ABOUT NOG NOG is a real asset company with a primary strategy of acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon producing basins within the contiguous United States. More information about NOG can be found at PRELIMINARY INFORMATION The preliminary unaudited second quarter 2025 financial and operating information included in this press release (including with respect to hedging results, non-cash impairment charges, and other matters) are based on estimates and subject to completion of NOG's financial closing procedures. Such information has been prepared by management solely based on currently available information. The preliminary information does not represent and is not a substitute for a comprehensive statement of financial and operating results, and NOG's actual results may differ materially from these estimates because of final adjustments, the completion of NOG's financial closing procedures, and other developments after the date of this release. SAFE HARBOR This release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended (the 'Securities Act'), and the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). All statements other than statements of historical facts included or referenced in this press release regarding NOG's dividend plans and practices (including timing, amounts and relative performance), financial position, business strategy, plans and objectives for future operations, industry conditions, cash flow, and growth prospects are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as 'estimate,' 'project,' 'predict,' 'believe,' 'expect,' 'continue,' 'anticipate,' 'target,' 'could,' 'plan,' 'intend,' 'seek,' 'goal,' 'will,' 'should,' 'may' or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond NOG's control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in NOG's capitalization, changes in crude oil and natural gas prices; the pace of drilling and completions activity on NOG's properties and properties pending acquisition; NOG's ability to acquire additional development opportunities; integration and benefits of property acquisitions, or the effects of such acquisitions on NOG's cash position and levels of indebtedness; changes in NOG's reserves estimates or the value thereof; general economic or industry conditions, nationally and/or in the communities in which NOG conducts business; changes in the interest rate environment or market dividend practices, legislation or regulatory requirements; conditions of the securities markets; NOG's ability to raise or access capital; changes in accounting principles, policies or guidelines; and financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting NOG's operations, products, services and prices. Additional information concerning potential factors that could affect future plans and results is included in the section entitled 'Item 1A. Risk Factors' and other sections of NOG's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause NOG's actual results to differ from those set forth in the forward-looking statements. NOG has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond NOG's control. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except as may be required by applicable law or regulation, NOG does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements.

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