PetroGas is an early-stage oil and gas exploration and production company focused on acquiring oil and gas leases in the United States, primarily in Texas. The company holds interests in leases across several Texas counties, including properties in the Eagle Ford Shale region, as well as smaller interests in Ohio and Oklahoma. PetroGas also holds royalty and overriding royalty interests in various properties, which would generate passive income as a percentage of production revenues without requiring the company to fund drilling costs. PetroGas operates through a 94% interest in Seabourn Oil Company, a Texas LLC. The company's strategy is to acquire distressed leases at a discount, then drill and produce oil and gas for sale when prices recover. Despite holding these leases, PetroGas currently has no operating wells — its seven wells in Atascosa and Frio Counties are idle, as management determined production was uneconomical at current oil prices. As a result, PetroGas generates no meaningful revenue. The company plans to fund future drilling and lease acquisitions through private placements of its stock. Originally incorporated in 2014 as a photo booth rental business, PetroGas pivoted to oil and gas in 2015 and adopted its current name and ticker in 2016.