Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
XXL Energy Corp. is an independent oil and gas exploration and development company focused on the Greater Green River Basin of Wyoming, the Piceance Basin of Colorado, and Pinedale Field of Wyoming. In the Green River Basin, Wyoming, the Company owns working interests in about six natural gas wells and five royalty interest wells, including the Jade 10-11 in which the Company owns a working interest with the corresponding net revenue interest as well as a separate overriding royalty interest (ORRI) in the well. Its existing leasehold in Wyoming totals approximately 5,757 net acres. In the Piceance Basin, the Company owns working interests in about four producing natural gas wells and four non-producing wells. Its activities are limited to its developed acreage totaling 320 acres. The Company holds oil and gas leases covering approximately 1,840 acres located in the Warbonnet area of Pinedale Field, Sublette County, Wyoming.
XL - XXL Energy Corp
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