• Energy Commodities: Roosevelt Resources engages in the exploration, production, and sale of crude oil and natural gas.
• Base and Precious Metals: The company extracts and processes various metallic ores, including industrial base metals like copper and iron, and precious metals such as gold and silver.
• Industrial Minerals: Roosevelt Resources supplies non-metallic minerals such as potash, phosphates, and aggregates for use in agriculture, construction, and other industrial applications.

Information about Roosevelt Resources (symbol: RRI) and its major customers is not publicly available, as Roosevelt Resources (RRI) does not appear to be a real, publicly traded company. It is likely a hypothetical company for the purpose of this request.

However, assuming "Roosevelt Resources" operates as a typical natural resources company (e.g., in mining, metals, or industrial minerals), it would primarily sell its products to other businesses (B2B) rather than individuals. These customers would typically be manufacturers, refiners, and industrial processors that utilize raw materials in their production.

Based on this assumption, here are three hypothetical major customer companies that a natural resources company like Roosevelt Resources might serve:

• Nucor Corporation (Symbol: NUE)
  Nucor is one of the largest steel producers in North America. They would be a major customer for raw materials such as iron ore, coking coal, limestone, or other industrial minerals essential for steelmaking.
• General Motors (Symbol: GM)
  As a global automotive manufacturer, General Motors requires vast quantities of various metals (e.g., steel, aluminum, copper, and potentially battery materials like lithium, nickel, or cobalt if RRI diversified into these) for vehicle production.
• Dow Inc. (Symbol: DOW)
  Dow is a leading global materials science company that would purchase industrial minerals, specialized metals, or energy inputs from a resources company for its diverse chemical processes and product manufacturing.

null

Elliott "Tony" Roosevelt, Jr. Chief Executive Officer / Chairman of the Board of Directors

Tony Roosevelt is a 64-year veteran of the oil and gas industry, known for a career marked by diversity and successful ventures. In 1964, he founded General Petroleum Corporation, followed by Texas Interstate Oil & Gas Company in 1967. He later served as President and Chairman of Prudential Minerals Exploration Company, which became Del Mar Petroleum Corporation. Roosevelt guided Del Mar into a merger with Shenandoah Oil Corporation, where he was Executive Vice President and Director. In the 1980s, he founded E R Operating Company. The 1990s saw him co-found General Gas Company, a natural gas gathering and processing business that was later sold to Duke Energy Field Services. In 1998, he co-founded Caledonia Energy Partners, which developed a significant natural gas storage reservoir.

Jerrel Branson Chief Development & Financial Officer

Jerrel Branson began his career at First City National Bank, with postings in Tokyo and Singapore, where he negotiated a significant Eurodollar loan agreement with the People's Republic of China. He served on the Board and as President/CFO of VAALCO. In 1991, Branson entered the renewable energy sector, founding Ecogas Corp., which specialized in landfill gas to pipeline gas technologies. Ecogas Corp. was subsequently sold to a Fortune 100 company. He also developed, patented, and built a project focused on producing bio-methanol, biodiesel, and synthetic bunker fuel. He joined Roosevelt Resources in 2022.

Jimmy C. Hawkins President / Director

Jimmy C. Hawkins serves as the President and a Director for Roosevelt Resources.

Paul Buckner Chief Legal Officer & Corporate Secretary

Paul Buckner is a seasoned oil and gas attorney with over 20 years of experience as in-house counsel and in various executive management roles with family-owned energy companies. He joined Roosevelt Resources in March 2020. Prior to this, he spent 15 years at Pacesetter Energy, where he held roles including General Counsel, Vice President of Human Resources, and President, and was involved in the acquisition, financing, development, operation, and eventual sale of Caledonia Energy Partners.

Barbara Shannon Manager of Land Records & Oil & Gas Regulatory, Assistant Corporate Secretary

Barbara Shannon's career in the oil and gas industry began in 1977 in the Land Department of Maguire Oil Co. She later joined The Petroleum Corporation of Delaware and William Moss Properties in 1984 as Land Manager. Since 1989, she has been employed by entities owned by Elliott (Tony) Roosevelt, Jr., including Roosevelt Resources, where she manages Land matters, Human Resources, and Oil and Gas Regulatory affairs.

Key Risks to Roosevelt Resources (RRI):

1. Commodity Price Volatility: Roosevelt Resources' financial performance is highly dependent on the prices of oil, natural gas liquids, and natural gas. Declines in these commodity prices would significantly impact the company's revenues and profitability.
2. Development and Production Success, and Reserve Estimate Accuracy: The company faces risks associated with the successful execution of its development and production activities, including the timing of expenditures, and the inherent inaccuracies and potential revisions of its oil and gas reserve estimates. Roosevelt is developing a large enhanced oil recovery (EOR) project in the Permian Basin, and the success of this project is critical.
3. Regulatory, Environmental, and Cash Flow Risks: Roosevelt Resources is subject to risks arising from future regulatory or legislative actions, changes in taxation, and environmental regulations, particularly concerning its carbon capture utilization and storage (CCUS) and EOR projects. Additionally, the company's ability to generate sufficient cash flows from operations to fund its capital expenditures and manage its indebtedness and borrowing base redeterminations presents a key risk.

null

The primary products of Roosevelt Resources (RRI) are crude oil and natural gas, extracted through a Carbon Capture Utilization and Storage (CCUS) enhanced oil recovery (EOR) project located in the Permian Basin of West Texas.

The addressable markets for these main products are as follows:

• Crude Oil Market (Permian Basin, U.S.):

  • In 2023, crude oil production in the Permian Basin was 5,790 thousand barrels per day (mbd).
  • The projected crude oil output for the Permian Basin is expected to reach 6.6 million barrels per day (b/d) in 2025.
  • This region accounted for 46.1% of total U.S. oil production in December 2023.

• Natural Gas Market (Permian Basin, U.S.):

  • In 2023, natural gas production in the Permian Basin was 19,315 million cubic feet per day (mmcfd).
  • Marketed natural gas production in the Permian Basin is projected to reach 25.8 billion cubic feet per day (Bcf/d) in 2025.
  • The Permian Basin represented 16.8% of U.S. natural gas production in December 2023.

• Enhanced Oil Recovery (EOR) Market (North America - broader context for CCUS EOR technology):

  • The North America Enhanced Oil Recovery (EOR) market, which includes CO2 injection techniques utilized by Roosevelt Resources, is projected to grow from approximately USD 17,991.29 million in 2024 to an estimated USD 31,301.06 million by 2032, with a Compound Annual Growth Rate (CAGR) of 7.17% from 2025 to 2032.

1. Increased Hydrocarbon Production through Enhanced Oil Recovery (EOR): Roosevelt Resources is developing a large Carbon Capture Utilization and Storage (CCUS) enhanced oil recovery project in the Permian Basin of West Texas. The company plans to utilize innovative horizontal drilling techniques, specifically "stacked horizontal laterals" with CO2 injectors and hydrocarbon producers, to significantly improve CO2 contact with oil and enhance recovery rates compared to conventional methods. This project is anticipated to achieve production exceeding 40,000 gross barrels of oil equivalent per day (boe/d) within the first 10 years of operation, with a potential peak of 55,000 gross boe/d by 2051, sustained for approximately 20 years.
2. Revenue from Carbon Capture, Utilization, and Storage (CCUS) Tax Credits: The CCUS aspect of Roosevelt's EOR project is designed to utilize anthropogenic (man-made) CO2, qualifying for a 12-year tax credit of $60 per metric ton of captured CO2 under IRS code 45Q of the Inflation Reduction Act. This tax incentive is expected to generate a substantial revenue stream for the company, complementing its hydrocarbon sales.
3. Strategic Access to CO2 Infrastructure: The project's location in the RR-Googins field is strategically advantageous, being traversed by a major CO2 pipeline and situated near Denver City, a significant CO2 hub in the Permian Basin. This access ensures a low-cost and readily available supply of CO2, which is critical for the success and economic viability of the EOR operations.
4. Favorable Oil and Natural Gas Market Conditions: As an oil and natural gas producer, Roosevelt Resources' revenue growth will inherently be influenced by market conditions. Positive trends in oil and natural gas prices will directly contribute to higher revenues from their increased production volumes.
5. Growth of Arcadia Biosciences' Zola Coconut Water Brand: Following the merger, the combined company will also benefit from the ongoing performance of Arcadia Biosciences' existing product lines. Arcadia has recently focused on its Zola coconut water brand, which experienced 55% year-over-year revenue growth in Q3 2024, with a projected 80% increase in retail distribution in 2024. The continued expansion and sales of Zola coconut water are expected to contribute to the combined entity's overall revenue.

Share Issuance

• Roosevelt Resources entered into a definitive securities exchange agreement with Arcadia Biosciences (RKDA) in December 2024 for an all-stock transaction.
• Under the agreement, Arcadia Biosciences will issue 12,284,475 shares of its common stock to Roosevelt's partners in exchange for all equity interests in Roosevelt.
• Upon the transaction's closing, Roosevelt's current equity owners are projected to hold approximately 90% of the combined company's outstanding shares.

Capital Expenditures

• Roosevelt Resources has invested over $82 million to date in its carbon capture utilization and storage (CCUS) and enhanced oil recovery (EOR) project in the Permian Basin.
• Estimated development costs through 2025 for the initial CO2 distribution system, CO2 injection wells, and initial CO2 injection(s) are approximately $125 million.
• The primary focus of these capital expenditures is the development of a large-scale EOR project designed to enhance oil recovery by injecting CO2, with the goal of producing carbon-advantaged oil and storing CO2 underground.