2 July 2007listing compliance notice▲ GoodMajor
Nasdaq certified Escalera Resources Co.'s securities for listing, clearing them to begin trading.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Sept 2006drilling progress report● Neutral
The company furnished investor presentation materials and a press release dated September 13, 2006 titled as reporting spudding at Christmas Meadows, testing at South Fillmore, and casing and perforation at Cow Creek Unit Deep #2. The results themselves are in exhibits not included in the text, so no figures are available here.
7 Aug 2006material agreement▲ GoodMajor
Effective August 1, 2006, the company increased its line of credit with American National Bank from $9,000,000 to $50,000,000, with an initial borrowing base of $25,000,000 and a new maturity of July 31, 2010. This gives it much more borrowing capacity, though the amount actually drawn is not stated.
2 Aug 2006material agreement● Neutral
The company signed a separation letter agreement with David Milholm, its former CFO who resigned effective May 31, 2006. It will pay his normal pay and benefits through August 31, 2006, and pay him the difference between $17.01 (the May 31, 2006 share price) and the exercise price on each of his vested options, after which those options end. He released the company from all claims.
15 Oct 2003auditor change● Neutral
The company (the filing is signed as Double Eagle Petroleum Co., the name it appears to file under) replaced its auditor Lovelett, Skogen & Associates with Hein + Associates LLP on October 13, 2003, on the audit committee's recommendation. The prior auditor's report had no adverse opinion and there were no disagreements. It also arranged a bank facility with Commercial Federal Bank to borrow up to $1,870,000 to buy two gas compressor units for the Cow Creek Field, at prime plus 0.5%, due March 2009 and secured on the equipment and related rights of way.