Alamo Energy Corp.

Alamo Energy Corp. deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

On December 23, 2013 Alamo settled a Kentucky lawsuit started around December 16, 2013 by Range Kentucky Holdings, the seller of the KYTX entities. Alamo hands back its membership interests in all three KYTX entities, and the Development Agreement, Additional Shares Agreement and $2,860,000 of Range-held notes are terminated. Range pays $70,000 and returns 6,889,353 Alamo shares, and both sides release all claims. This unwinds the April 2011 Kentucky acquisition and closes the open threads on Range share registration and price-protection top-up.

asset acquisition disposition

On December 21, 2012 Alamo sold all its interest in UK Licence PEDL 245, and its role as operator, to Northdown Energy for £156,250, and left the related participation and joint operating agreements, with Northdown taking over the obligations and indemnifying Alamo. This completes the exit from the Weald basin licence that was part-farmed out to Northdown in November 2011, and ends the planned seismic survey commitment for Alamo (inference).

asset acquisition disposition

On August 1, 2012 Alamo swapped all of its July 2011 discount convertible debentures and the Series A, B and C warrants for 16,724,329 new common shares, extinguishing $1,076,612.52 of principal and accrued interest and warrants over 1,344,150 shares. A separate warrant exchange issued a further 335,410 shares for warrants. This ends that debenture financing and replaces the debt with new shares, so existing holders are diluted; the filing does not state the share count after issuance.

capital raising announcement

On November 14, 2011 Alamo assigned 45% of its working interest in UK Licence 245 to Northdown Energy for £60,000, with DECC approval stated as received. Alamo and Northdown each put £325,000 into escrow for a 60 km 2D seismic survey, and Alamo stays sole operator. The press release says Alamo keeps 45% and Aimwell 10%, and Northdown takes on its share of the costs. This resolves the long-open UK licence approval thread from the January 2010 Aimwell letter and shares the exploration cost; the press release targets seismic for the first half of 2012.

asset acquisition disposition

On July 26, 2011 Alamo agreed to sell about $1,310,621 of discount convertible debentures, plus three series of warrants over 2,621,241 shares, for about $1,114,000. The debentures are unsecured, due in two years, pay 5% and convert at $1.00, but the conversion price (and warrant prices) can reset downward to as low as $0.50 from the earlier of the registration's effectiveness or February 1, 2012, so dilution could be larger. The three KYTX subsidiaries guarantee repayment. Alamo must file a resale registration within 45 days, and Rodman & Renshaw, the placement agent, gets a 7% fee and warrants over 91,743 shares. This is a new debt source separate from the Eurasian facilities.

capital raising announcement

On April 12, 2011 Alamo bought all the membership interests in three Kentucky companies (KYTX Oil and Gas, KYTX Pipeline and KYTX Drilling) from Range Kentucky Holdings for $6,775,000: $400,000 cash and 8,500,000 new shares valued at $0.75. For 5,500,000 of those shares the seller has price protection for up to 24 months: if the 10-day average price falls to $0.60 or $0.35 or below, it can elect to have extra shares issued, which would dilute other holders. Alamo must also register 3,000,000 of the shares for resale and agreed to a development agreement covering certain Kentucky counties. The seller will provide accounting services at cost plus 10%. The same day Alamo took a final $115,095 under the 2009 Eurasian facility and signed a new Eurasian facility of up to $2,400,000, with a first instalment of $460,000 and 460,000 warrants. This is a much larger Kentucky commitment than the earlier small Taylor program units. The filing text provided is cut off before the rest of the new facility's terms.

asset acquisition disposition

On December 15, 2010 Alamo borrowed another $75,000 from Eurasian under the original $2,000,000 agreement (8% note due November 18, 2012, convertible at $0.50, with 75,000 warrants at $1.00 for five years). That brings the total to roughly $1.6 million by my sum of the filings' figures (an inference), leaving about $400,000 undrawn. The same day it exercised its option under the Allied participation agreement to join the recompletion of the WVIC D-12 well on the Eco Forrest Lease (about 493 acres, Ritchie County, West Virginia). The filing gives no cost or interest for that well; the press release calls it the third Allied re-entry well.

capital raising announcement

On September 3, 2010 Alamo agreed to pay $97,500 to Berry Resources for 6.5 units in Berry Prospect #22-A, two wells to be drilled in Tennessee. Each unit is about 3.33% working interest (about 2.33% net revenue interest) in each well, and Berry will operate. On September 7 it also borrowed $70,000 from Eurasian (8%, due November 18, 2012, convertible at $0.50, 70,000 warrants at $1.00), stated to be under the original $2,000,000 agreement. The press release says about $1,484,000 of that commitment has been received, and that a first well has been drilled with 110 feet of pay; it places the lease in Fentress County, not Pickett County as the filing does. Tennessee is a new state for the company.

asset acquisition disposition

On August 4, 2010 Alamo agreed with Allied Energy to take a 50% working interest in the M. Dillon Lease and the Dillon #1 re-entry well in Pleasants County, West Virginia, paying $179,125 in drilling and completion costs. Its interests are 70% (59.08 net revenue interest) before payout and 50% (42.2%) after. It also gets an option to join re-entries of sixteen more Allied wells in West Virginia. This extends the West Virginia program begun in May; the Dillon #1 well was later swapped out (see October 2010).

material agreement

On May 18, 2010 Alamo bought a 50% working interest in the Florence Valentine Lease in Ritchie County, West Virginia from Allied Energy (operator), paying $153,500 in drilling and completion costs for the Valentine #1 re-entry well. Until Allied is paid back ("payout") Alamo holds 70% of the well (59.08 net revenue interest); after payout it drops to 50% (42.2%). This is the company's first West Virginia asset. The same filing shows Alamo dismissed Kelly & Company (in place only since March 17, 2010, no reports issued, no disagreements) and hired Q Accountancy Corporation, the fifth auditor engaged since November 2009 (counting Mendoza Berger and Quintanilla), continuing the auditor-churn thread.

auditor change

On April 15, 2010, Alamo issued another $250,000 Eurasian note (8%, due November 18, 2012, convertible at $0.50) with 250,000 warrants at $1.00. On April 16 it agreed with WEJCO, Inc. to take participation rights in the Duffer Re-entry Prospect, Hubbard H-1 well in Brown County, Texas, paying $18,050 (20% of $90,250 in geologic, land and seismic costs) plus a share of drilling and completion costs; WEJCO will operate. Eurasian notes announced since February now total $730,000 against the $2,000,000 commitment, counting the $334,905 first instalment.

asset acquisition disposition

On March 4, 2010, Alamo bought eight units for $303,986 ($37,996 each) in Boardman Energy Partners' Taylor TDS Five Well Program in Adair County, Kentucky; each unit carries a 2.0% working interest and 1.5% net revenue interest, and Boardman operates. It funded activity with another $300,000 Eurasian note (8%, due November 18, 2012, convertible at $0.50) with 300,000 warrants at $1.00. This is the company's first US well interest in these filings.

asset acquisition disposition

On January 11, 2010, Alamo signed a letter agreement with Aimwell Energy Limited to take a 90% interest in Aimwell's licence over onshore oil and gas blocks in southern England for one pound sterling, and to become operator, subject to regulatory approvals. Alamo would pay Aimwell's 10% share of operating costs until a field development plan is approved. This is the company's first UK asset in the filings so far, and it is not yet completed.

asset acquisition disposition

On November 18, 2009, the former golf-business shell Green Irons completed an asset purchase from Alamo Oil Limited, changed management, entered oil and gas, and took the name Alamo Energy Corp. Alamo Oil received 350,000 shares (about 22% of the 1,622,284 shares then issued). The company also agreed a note and warrant deal with one investor to lend up to $2,000,000 in instalments ($334,905 delivered at closing, convertible at $0.50 per share, with $1.00 warrants), planned a 30-for-1 stock split, and bought back and cancelled 4,616,666 shares from Mr. McDougall for $61,073. The filing describes the company as early stage and says it was negotiating acquisitions with no agreements yet in place.

business combination