1 June 2007director interest notice● Neutral
Emerald Oil, Inc. Chief Operating Officer Peter Hughes received a stock option grant for 20,000 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 June 2007director interest notice● Neutral
Emerald Oil, Inc. director Glenn Padnick received a stock option grant for 4,000 shares.
1 June 2007director interest notice● Neutral
Emerald Oil, Inc. director Lyle Berman received a stock option grant for 4,000 shares.
1 June 2007director interest notice● Neutral
Emerald Oil, Inc. Chief Financial Officer Scott A Friedman received a stock option grant for 10,000 shares.
1 June 2007director interest notice● Neutral
Emerald Oil, Inc. director Brad Berman received a stock option grant for 4,000 shares.
25 Apr 2007material agreement● NeutralMajor
On April 23, 2007 the company signed a software agreement with Cryptologic under which Cryptologic runs the company's online poker room and casino, with the poker room due to go live by June 14, 2007. Cryptologic takes 20-22% of net gaming revenue, and the company owes minimum guaranteed revenue amounts (e.g., $500,000 a year for the initial casino), a $50,000 launch fee and $7,500 a month; the term runs to June 30, 2010. This moves the online poker plan toward a Cryptologic-run site, in place of the CyberArts software licensed in 2006 and the WagerWorks arrangement ending by August 1, 2007; the filing does not itself say what happens to those agreements.
18 Apr 2007director interest notice● Neutral
Emerald Oil, Inc. director Lyle Berman received a stock option grant for 12,000 shares.
5 Apr 2007material agreement▲ GoodMajor
The Travel Channel did not exercise its option on WPT season six by April 1, 2007, ending the run of option pickups under the 2003 Master Agreement. On April 2, 2007 the company licensed season six to Game Show Network at $300,000 per episode for 23 episodes, with GSN committing at least $3 million of marketing per season, options on seasons seven and eight (fee rising 5% each season), and possible ratings bonuses of $20,000-$35,000 per episode. This replaces the Travel Channel as the U.S. broadcaster for new seasons.
19 Mar 2007director interest notice● Neutral
Emerald Oil, Inc. Chief Financial Officer Scott A Friedman received a stock option grant for 40,000 shares.
14 Mar 2007material agreement● Neutral
On March 8, 2007 the company and The Travel Channel agreed to move the deadline for the Travel Channel to pick up the sixth season of the World Poker Tour from March 10, 2007 to April 1, 2007. This continues the pattern of option exercises on the 2003 Master Agreement; the filing does not say whether the option will be taken.
14 Feb 2007substantial holder notice● Neutral
Raj Rajaratnam, Galleon Advisors, L.L.C, Galleon Management, L.L.C, Galleon Management, L.P, Galleon Captain's Partners, L.P, Galleon Captain's Offshore, LTD reported a Emerald Oil, Inc. shareholding of 1,348,200 shares (6.60% of votes) in a periodic institutional filing.
5 Feb 2007director interest notice● Neutral
Emerald Oil, Inc. Executive Vice President Robyn Moder received a stock option grant for 50,000 shares.
9 Jan 2007substantial holder notice● Neutral
Raj Rajaratnam, Galleon Advisors, L.L.C, Galleon Management, L.L.C, Galleon Management, L.P, Galleon Captain's Partners, L.P, Galleon Captain's Offshore, LTD disclosed a new substantial Emerald Oil, Inc. shareholding (6.40% of votes).
12 Dec 2006director interest notice● Neutral
Emerald Oil, Inc. director Brad Berman bought 15,242 shares on the open market.
11 Dec 2006director interest notice● Neutral
Emerald Oil, Inc. director Brad Berman bought 12,100 shares on the open market.
6 Dec 2006material agreement▲ GoodMajor
The company signed a sponsorship deal with Party Poker (iGlobalMedia Marketing Gibraltar), effective Nov 30, 2006, covering international (non-U.S.) broadcasts of WPT Seasons IV-VI and PPT Seasons I-III. Party Poker pays per qualifying broadcaster deal ($500,000 per WPT deal for up to five primary-country deals a season, $125,000 for others, capped at $5M, $6M and $7M for WPT Seasons IV, V and VI; $3M, $4M and $5M for PPT Seasons I, II and III), so payments depend on the company securing international broadcast deals. This adds a new international revenue source around the shows after the Travel Channel declined further PPT seasons.
26 Sept 2006director interest notice● Neutral
Scott A Friedman became a Emerald Oil, Inc. Chief Financial Officer and company insider (initial ownership filing).
26 Sept 2006director interest notice● Neutral
Emerald Oil, Inc. Chief Financial Officer Scott A Friedman received a stock option grant for 30,000 shares.
2 Aug 2006material agreement● NeutralMajor
The company and other investors entered a subscription agreement under which it bought about a 10% stake in 3G Scene Limited, a mobile gaming software company, for roughly $2.9 million. It can ask 3G Scene to repurchase the shares if the investment could jeopardize its or Lakes Entertainment's gaming permits. The same filing furnishes a press release on second-quarter 2006 results, with no figures in the text.
14 July 2006material agreement● NeutralMajor
The company amended its brand license and online casino agreement with WagerWorks Alderney 3 to let it own and run its own online poker room and offer multi-player real-money poker by cellphone. WagerWorks' share of poker room revenue rises from 25% to 75% and its operation of the room ends by August 1, 2007 at the latest. The filing says the higher share is meant to incentivize WagerWorks during the company's transition to running its own room.
27 June 2006material agreement● NeutralMajor
The company licensed poker software from CyberArts Licensing to build its own online poker room, paying a $1.3 million license fee and $180,000 for first-year support. It can buy the source code for $4 million less amounts already paid, and can terminate and recover fees if the software does not perform as expected by April 1, 2007 or 120 days after launch, whichever comes first. This continues the online gaming effort begun with WagerWorks in 2005.
6 June 2006material agreement● Neutral
Stockholders approved raising the shares reserved under the 2004 Stock Incentive Plan from 3,120,000 to 4,200,000. The board also approved full immediate vesting of unvested options and restricted stock if there is a Change in Control, such as an acquisition of 33% or more of the shares (excluding Lakes Entertainment and its affiliates).
4 May 2006material agreement termination▼ BadMajor
The Travel Channel told the company on May 1, 2006 that it chose not to exercise its option to buy additional seasons of the Professional Poker Tour, the series licensed under the January 2006 Discovery agreement. The same filing furnishes a press release on first-quarter 2006 results, with no figures in the text.
3 Apr 2006director interest notice● Neutral
Emerald Oil, Inc. director Lyle Berman sold 630,000 shares at $9.03.
21 Mar 2006material agreement▲ GoodMajor
The Travel Channel exercised its option for a fifth season of the World Poker Tour series under the August 22, 2003 Master Agreement, following its fourth-season option in March 2005. This continues the broadcast relationship.
2 Mar 2006director interest notice● Neutral
Emerald Oil, Inc. insider Wpt Enterprises INC sold 630,000 shares at $9.03.
14 Feb 2006substantial holder notice● Neutral
Stadia Capital, L.L.C, Enrique J. Abeyta, John J. Fleming, Richard J. Swift reported no remaining Emerald Oil, Inc. shareholding in its periodic institutional filing.
14 Feb 2006director interest notice● Neutral
Emerald Oil, Inc. President Steven Lipscomb gifted 608,830 shares.
31 Jan 2006material agreement● NeutralMajor
The company signed an agreement with Discovery Communications to license a new series, the Professional Poker Tour, for the Travel Channel. Discovery pays fixed licensing fees, holds three options for further seasons, and shares in 15% of revenue from certain other rights. A separate amendment to the World Poker Tour agreements restricts the company from showing other poker programs in the U.S. territory until December 31, 2007, and assigns certain company trademarks to the Travel Channel.
25 Jan 2006director interest notice● Neutral
Peter Hughes became a Emerald Oil, Inc. Chief Operating Officer and company insider (initial ownership filing).