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.
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.
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.
Wellington Management Company, LLP reported a Escalera Resources Co. shareholding of 277,928 shares (3.24% of votes) in a periodic institutional filing.
Wellington Global Holdings, Ltd. Not Applicable, Wellington Global Administrator, Ltd. Not Applicable reported a Escalera Resources Co. shareholding of 309,446 shares (3.65% of votes) in a periodic institutional filing.
Wellington Management Company, LLP reported a Escalera Resources Co. shareholding of 565,446 shares (6.66% of votes) in a periodic institutional filing.