Past year: ▼ 18%(3.54 – 4.80 USD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Sept 2006material agreement● Neutral
Now renamed Evolution Petroleum Corporation, the company paid executive bonuses and adopted standard indemnification agreements for its directors and officers -- routine governance following its 2006 rebrand from Natural Gas Systems.
14 July 2006listing compliance notice▲ GoodMajor
the American Stock Exchange certified EVOLUTION PETROLEUM CORP's securities for listing, clearing them to begin trading.
16 June 2006asset acquisition disposition▲ GoodMajor
The Denbury Delhi Field transaction closed: NGS received $50 million and handed over its working interest in the CO2 flood unit while keeping a 4.8% royalty and other retained interests, resolving the deal first announced in May.
2 June 2006material agreement termination▲ Good
NGS paid off Chairman Cagan's $250,000 subordinated loan in full, and separately noted that the closing of its big Denbury Delhi Field deal, announced days earlier, had slipped a few days to June 6.
11 May 2006asset acquisition disposition▲ GoodMajor
NGS agreed to bring in Denbury Onshore to fund and run a CO2 enhanced-oil-recovery project at its Delhi Field, collecting $50 million upfront while keeping a royalty and a future reversionary working interest once the project pays out -- the deal that would define the company's finances for the next decade.
8 Mar 2006capital raising announcement▼ BadMajor
Chairman Laird Q. Cagan personally loaned NGS $250,000 at 10% interest, subordinated to the company's $5 million Prospect Energy facility -- insider bridge financing for working capital during the company's early acquisition buildout.
6 Feb 2006asset acquisition disposition● Neutral
NGS drew another $1 million from its Prospect Energy credit line, bringing total borrowings to $5 million, to fund a further $1 million purchase of net revenue interest in its Louisiana oil and gas properties.
20 Jan 2006capital raising announcement● Neutral
NGS issued Rubicon Master Fund 160,000 more shares in exchange for Rubicon giving up its right to monetary damages if NGS missed registration deadlines on the May 2005 stock sale -- paying in equity to remove a contractual liability.
7 Oct 2005material agreement● Neutral
NGS hired UK technology firm MTEM to run an experimental electromagnetic survey at its Delhi Field in Louisiana, an early step toward better characterizing that reservoir ahead of its later CO2 flood project.
29 June 2005capital raising announcement● Neutral
NGS hired Daryl V. Mazzanti as VP of Operations with a $155,000 salary plus options, warrants and a stock grant.
11 May 2005capital raising announcement● NeutralMajor
NGS raised $3.0 million selling 1.2 million shares to Rubicon Master Fund at $2.50/share, paying fees and warrants to both broker Chadbourn Securities and Chairman Laird Cagan in his capacity as a Chadbourn registered representative.
What it means for a shareholder
1.2m new shares at US$2.50 to raise about US$3.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
8 Apr 2005capital raising announcement● Neutral
NGS renewed CEO Robert S. Herlin's employment contract, raising his base salary from $180,000 toward $210,000.
21 Mar 2005capital raising announcement● NeutralMajor
NGS drew another $1.0 million under its $4.8 million senior secured loan facility with Prospect Energy Corporation (14%+ interest), bringing total borrowings to $4.0 million to fund oil and gas acquisitions and development.
8 Feb 2005asset acquisition disposition▲ GoodMajor
NGS secured a $4.8 million loan facility from Prospect Energy Corporation and used part of it to buy the Chadco oil and gas properties in the Tullos Urania and Colgrade fields for $3.0 million, also refinancing Chairman Cagan's earlier bridge loan.
17 Nov 2004material agreement termination▼ Bad
NGS terminated its stock-swap agreement with UK-based Seaside Investments after Seaside failed to secure a London Stock Exchange listing by the deadline, unwinding the planned share exchange and cancelling the escrowed shares.
17 Nov 2004asset acquisition disposition● Neutral
NGS clarified in an amended filing that no separate audited financial statements were required for its 2004 Tullos Urania acquisition, closing out an open disclosure item from the original filing.
26 Oct 2004capital raising announcement● Neutral
Natural Gas Systems agreed to a share exchange with UK investment firm Seaside Investments, issuing 1 million NGS shares for up to 1.48 million Seaside shares, contingent on Seaside completing a London Stock Exchange listing.
9 Sept 2004asset acquisition disposition▲ Good
NGS made its first oil and gas acquisition as a newly public company, buying a 100% working interest in producing wells at the Tullos Urania Field in Louisiana for $725,000, partly bridge-financed by Chairman Laird Cagan.
3 June 2004business combination▲ GoodMajor
Natural Gas Systems (later renamed Evolution Petroleum) became a public company through a reverse merger into shell company Reality Interactive, with NGS shareholders taking over about 96% of the stock and NGS's Robert Herlin becoming CEO. This reverse merger is the origin of the company's public listing.
