Greenfire Resources Announces Filing of Annual Report on Form 20-F for Fiscal Year 2023

Rhea-AI Summary

Greenfire Resources files its annual report on Form 20-F for fiscal year 2023 with the SEC, including an independent evaluation of its bitumen reserves. The report can be accessed on the company's website, EDGAR, and SEDAR+.

Insights

Energy Sector Analyst

The filing of Greenfire Resources Ltd.'s annual report on Form 20-F is a significant disclosure, providing investors with essential information regarding the company's performance and reserve evaluations. The independent evaluation of bitumen reserves is particularly noteworthy, as it offers insights into the company's asset quality and potential future revenue streams. In the energy sector, reserves are a key indicator of a company's long-term viability and are closely monitored by investors.

From a financial perspective, the reserves' valuation is based on SEC standards and pricing, which ensures a level of consistency and comparability with other entities in the industry. This allows for a more accurate assessment of the company's market position and growth prospects. The disclosed oil and gas information could influence the company's stock performance, as it directly relates to its core business operations and potential for expansion within the thermal energy market.

Market Research Analyst

In analyzing the market implications of Greenfire Resources Ltd.'s annual report, it is important to consider the broader industry trends. The energy market, particularly in the sustainable and thermal energy segments, is subject to volatile pricing and regulatory changes. The disclosure of bitumen reserves in compliance with SEC standards provides transparency and may affect investor confidence positively, depending on the reported quantities and projected extraction costs.

Additionally, the availability of the report on multiple platforms, including the company's website, EDGAR and SEDAR+, ensures broad accessibility for stakeholders. This transparency can often lead to increased investor trust and could potentially attract new investors seeking opportunities in the sustainable energy sector. The long-term impact on the company's stock will depend on how the disclosed information aligns with market expectations and the company's strategic initiatives to capitalize on its reserves.

Compliance Officer

Filing an annual report on Form 20-F is not only a regulatory requirement for foreign companies listed in the U.S. but also an exercise in demonstrating a company's commitment to regulatory compliance and transparency. The inclusion of independently evaluated reserves information is critical, as it adheres to SEC standards, which are stringent and designed to protect investors by providing a clear picture of a company's assets.

For Greenfire Resources Ltd., compliance with these standards may mitigate risks associated with governance and enhance its reputation among investors who are increasingly conscious of corporate governance practices. The long-term implications for the business could include more favorable terms in future financing and partnerships, as well as a potentially more stable stock price, assuming that the reported data meets or exceeds market expectations.

Calgary, Alberta--(Newsfile Corp. - March 26, 2024) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ("Greenfire" or the "Company"), a Calgary-based energy company focused on the sustainable production and development of thermal energy resources from the Athabasca region of Alberta, Canada, today confirms that the Company's annual report on Form 20-F for the year ended December 31, 2023, has been filed with the United States Securities and Exchange Commission ("SEC").

This annual report on Form 20-F for fiscal year 2023 includes the results of an independent evaluation of the Company's bitumen reserves in accordance with SEC standards and pricing, as well as other oil and gas information. An electronic copy of the Form 20-F can be accessed on the Company's website at www.greenfireres.com, on EDGAR at www.sec.gov/edgar.shtml and on SEDAR+ at www.sedarplus.ca.

About Greenfire

Greenfire is an intermediate, lower-cost and growth-oriented Athabasca oil sands producer with concentrated Tier-1 assets that use steam assisted gravity drainage extraction methods. The Company is focused on responsible and sustainable energy development in Canada, with its registered office located in Calgary, Alberta. Greenfire is an operationally focused company with an emphasis on an entrepreneurial environment and employee ownership. Greenfire common shares are listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol "GFR". For more information, visit greenfireres.com or find Greenfire on LinkedIn and X.

Contact Information

Greenfire Resources Ltd.
205 5th Avenue SW
Suite 1900
Calgary, AB T2P 2V7
investors@greenfireres.com
greenfireres.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203224

FAQ

Where can I access Greenfire Resources 's annual report on Form 20-F for fiscal year 2023?

You can access the annual report on the company's website at www.greenfireres.com, on EDGAR at www.sec.gov/edgar.shtml, and on SEDAR+ at www.sedarplus.ca.

What does the annual report on Form 20-F for fiscal year 2023 of Greenfire Resources include?

The report includes the results of an independent evaluation of the Company's bitumen reserves in accordance with SEC standards and pricing, as well as other oil and gas information.

What is the ticker symbol for Greenfire Resources ?

The ticker symbol for Greenfire Resources is GFR.