31 Oct 2006director interest notice● Neutral
James P Schadt became a Black Raven Energy, Inc. director and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Oct 2006director interest notice● Neutral
James P Schadt became a Black Raven Energy, Inc. director and company insider (initial ownership filing).
23 June 2006director interest notice● Neutral
William P Brand Jr. became a Black Raven Energy, Inc. company insider (initial ownership filing).
22 June 2006director interest notice● Neutral
Thomas J Jacobsen became a Black Raven Energy, Inc. company insider (initial ownership filing).
22 June 2006securities registration● Neutral
Black Raven Energy, Inc. filed the final prospectus for a registered offering.
16 June 2006director interest notice● Neutral
Susan C Wright became a Black Raven Energy, Inc. Vice President & Secretary and company insider (initial ownership filing).
15 June 2006director interest notice● Neutral
Gus J Blass III became a Black Raven Energy, Inc. director and company insider (initial ownership filing).
15 June 2006capital raising announcement● Neutral
Shareholders approved changing the name to PRB Energy, Inc. (ticker PRB unchanged) and elected Gus J. Blass III to the board, replacing Thomas J. Jacobsen, who did not stand for re-election. The company also said it filed a registration statement covering shares underlying the February 2006 convertible notes, not yet declared effective.
13 June 2006director interest notice● Neutral
Black Raven Energy, Inc. CEO Robert W Wright bought 15,000 shares on the open market.
1 June 2006auditor change● Neutral
The audit committee dismissed its auditor Ehrhardt Keefe Steiner & Hottman and hired Hein & Associates LLP on May 31, 2006. The old auditor's reports for 2004 and 2005 were clean and there were no disagreements, but the filing notes a reported material weakness in internal controls (inadequate staffing) that was still being fixed as of March 31, 2006.
26 May 2006securities registration● Neutral
Black Raven Energy, Inc. registered a securities offering with the SEC using its shelf eligibility.
26 May 2006director interest notice● Neutral
James P Schadt became a Black Raven Energy, Inc. director and company insider (initial ownership filing).
24 May 2006securities registration● Neutral
Black Raven Energy, Inc. filed the final prospectus for a registered offering.
24 May 2006securities registration● Neutral
Black Raven Energy, Inc. filed the final prospectus for a registered offering.
19 May 2006capital raising announcement● NeutralMajor
First quarter 2006 showed a net loss of $1.494 million on revenue of $827 thousand; the company reported cash of $22.6 million, mostly from the February note offering. It agreed to buy about 70 miles of gathering pipeline in the Recluse area (price not disclosed, closing subject to review). Management still expects 2006 revenue of $14-16 million and net income of $3.5-4 million, which is a forecast, and plans a name change to PRB Energy, Inc. for shareholder vote on June 14.
15 May 2006director interest notice● Neutral
James P Schadt became a Black Raven Energy, Inc. director and company insider (initial ownership filing).
15 May 2006director interest notice● Neutral
William P Brand Jr. became a Black Raven Energy, Inc. VP - Finance and company insider (initial ownership filing).
10 May 2006director interest notice● Neutral
Black Raven Energy, Inc. President & COO William F Hayworth received a stock option grant for 30,000 shares.
10 May 2006director interest notice● Neutral
Black Raven Energy, Inc. director Joseph W Skeehan received a stock option grant for 20,000 shares.
10 May 2006director interest notice● Neutral
Black Raven Energy, Inc. CEO Robert W Wright received a stock option grant for 30,000 shares.
9 May 2006director interest notice● Neutral
Reuben Sandler became a Black Raven Energy, Inc. director and company insider (initial ownership filing).
9 May 2006director interest notice● Neutral
Justin W Yorke became a Black Raven Energy, Inc. director and company insider (initial ownership filing).
31 Mar 2006late filing notice▼ Bad
Black Raven Energy, Inc. notified the SEC that its annual report would be filed late.
24 Mar 2006material agreement termination▼ BadMajor
The company ended its 2005 farmout agreement with Enterra Energy Trust (Rocky Mountain Gas) on March 20, 2006, ending the arrangement signed in September 2005 to develop coal bed methane there. It has or will have drilled about 46 wells in the Powder River Basin and will keep operating RMG's Wyodak wells in the Wings, Airport and Echo fields for 60 days while RMG finds a new operator. The filing does not state why it was terminated.
7 Feb 2006capital raising announcement● NeutralMajor
The company closed about $19 million of an approximately $22 million private placement of 10% senior subordinated convertible notes, with about $3 million more expected within days. The notes run 30 months and convert into a maximum of about 3.1 million shares at $7.00 each, which would dilute existing shareholders if converted. Management says this funds a $30 million 2006 capital plan ($21 million exploration and production, $9 million gas gathering).
22 Dec 2005financial restatement● NeutralMajor
The company said its 2004 financial statements and its first three 2005 quarterly reports should no longer be relied on. A $304 thousand customer billing for minimum contract amounts, collected on December 15, 2005, had not been counted as revenue and will now be recorded in the period earned. Restatement raises 2004 net loss from $813 thousand to $651 thousand, and shrinks the first two 2005 quarterly losses (e.g. $336 thousand to $231 thousand for Q1); Q3 2005 figures are unchanged.
15 Nov 2005late filing notice▼ Bad
Black Raven Energy, Inc. notified the SEC that its quarterly report would be filed late.
14 Nov 2005director interest notice● Neutral
Marilena Marrelli became a Black Raven Energy, Inc. company insider (initial ownership filing).
9 Sept 2005material agreement▲ GoodMajor
The company (then named PRB Gas Transportation) signed a farmout agreement with Enterra Energy Corp's subsidiary Rocky Mountain Gas. By spending up to $21.8 million on coal bed methane properties in Wyoming and Montana, it can earn up to a 50% working interest in the properties and would operate them; the properties cover over 130,000 net acres.
17 Aug 2005securities registration● Neutral
Black Raven Energy, Inc. filed the final prospectus for a registered offering.