12 Sept 2005substantial holder notice● Neutral
SARANAC CAPITAL MANAGEMENT LP, SARANAC CAPITAL MANAGEMENT GP LLC, ROSS MARGOLIES reported a GASCO ENERGY INC shareholding of 7,945,348 shares (10.40% of votes) in a periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 June 2005securities registration● Neutral
GASCO ENERGY INC filed the final prospectus for a registered offering.
2 May 2005substantial holder notice● Neutral
Advisory Research, Inc disclosed a new substantial GASCO ENERGY INC shareholding (11.71% of votes).
15 Feb 2005substantial holder notice● Neutral
SARANAC CAPITAL MANAGEMENT LP, SARANAC CAPITAL MANAGEMENT GP LLC, ROSS MARGOLIES disclosed a new substantial GASCO ENERGY INC shareholding (15.70% of votes).
15 Feb 2005substantial holder notice● Neutral
Advisory Research, Inc disclosed a new substantial GASCO ENERGY INC shareholding (8.65% of votes).
14 Feb 2005substantial holder notice● Neutral
J. Caird Partners, L.P, Wellington Hedge Management, LLC, Wellington Hedge Management, Inc reported a GASCO ENERGY INC shareholding of 501,700 shares (0.71% of votes) in a periodic institutional filing.
14 Feb 2005substantial holder notice● Neutral
Wellington Management Company, LLP reported a GASCO ENERGY INC shareholding of 923,800 shares (1.31% of votes) in a periodic institutional filing.
14 Feb 2005substantial holder notice● Neutral
Salomon Brothers Asset Management Inc., Citigroup Financial Products Inc., Citigroup Global Markets Holdings Inc., Citigroup Inc. reported a GASCO ENERGY INC shareholding of 14,938 shares (0.20% of votes) in a periodic institutional filing.
11 Feb 2005substantial holder notice● Neutral
Amaranth LLC, Amaranth Advisors L.L.C, Nicholas M. Maounis reported a GASCO ENERGY INC shareholding of 5.70% of votes in a periodic institutional filing.
31 Jan 2005material agreement● Neutral
On December 23, 2004 Gasco signed the agreement finishing the October deal with chairman Marc Bruner and President Mark Erickson. They transferred their rights to overriding royalties of 0.06% to 0.6% in certain Utah and Wyoming properties (from the Pannonian Employee Royalty Trust), and in return Gasco will convey equivalent royalties if it sells the properties, on certain change-of-control events, or on termination of employment. The two waived the 100,000-share options originally planned, which changes the October terms. The Audit Committee approved the deal.
13 Jan 2005securities registration● Neutral
GASCO ENERGY INC filed the final prospectus for a registered offering.
6 Jan 2005securities registration● Neutral
GASCO ENERGY INC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
22 Dec 2004securities registration● Neutral
GASCO ENERGY INC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
7 Dec 2004securities registration● Neutral
GASCO ENERGY INC registered a securities offering with the SEC using its shelf eligibility.
3 Dec 2004listing compliance notice▲ GoodMajor
the American Stock Exchange certified GASCO ENERGY INC's securities for listing, clearing them to begin trading.
2 Dec 2004listing compliance notice▲ Good
This amendment to the November 23 notice gives the AMEX start date for Gasco's common stock (symbol GSX) as December 6, 2004, and says Gasco filed a Form 8-A on December 2, 2004 to register the stock for the exchange. It continues the move from the OTC Bulletin Board.
23 Nov 2004listing compliance notice▲ GoodMajor
Gasco announced that the American Stock Exchange approved listing its common stock, to trade under the symbol GSX within five to 10 business days, subject to meeting listing standards at that time. Trading on the OTC Bulletin Board (GASE) will end when AMEX trading starts.
25 Oct 2004substantial holder notice● Neutral
Amaranth LLC, Amaranth Advisors L.L.C, Nicholas M. Maounis disclosed a new substantial GASCO ENERGY INC shareholding (6.90% of votes).
20 Oct 2004capital raising announcement● NeutralMajor
On October 20, 2004 Gasco closed a private placement of $65 million of 5.50% Convertible Senior Notes due 2011, convertible at $4.00 per share, with net proceeds of $62,075,000. About $10.3 million went to U.S. government securities pledged to cover the first six interest payments, and the $2.5M debentures converted into 4,166,665 shares as planned. This is Gasco's first significant debt and brings potential dilution, though the filing states the notes carry no financial covenants.
14 Oct 2004asset acquisition disposition● Neutral
This amendment adds the pro forma financials promised for the completed Riverbend net profits sale (total cash $4,314,984). Pro forma, the sale would have raised the six-month 2004 net loss from $1,265,067 to $1,651,605, and the 2003 net loss from $2,526,525 to $2,615,390. Total assets are unchanged because cash replaces property value. Gasco also agreed to a 3.25% financing fee to the buyers, with $148,176 paid at closing.
14 Oct 2004material agreement● NeutralMajor
Filed to update information for Gasco's effective registration statements. The holders of the $2.5M 8.00% Convertible Debentures (RENN Capital Group is the agent) agreed to convert into 4,166,667 shares at $0.60, contingent on closing a proposed Convertible Senior Notes due 2011 offering, with Gasco paying a $270,247 early-conversion fee. The board (excluding Bruner and Erickson) also approved a deal where Bruner and Erickson give up overriding royalty rights from the Pannonian Employee Royalty Trust in exchange for options on 100,000 shares each, with definitive agreements expected within 30 days. The updated risk factors report a 2003 net loss of $2,526,525, a six-month 2004 net loss of $1,265,067 and an accumulated deficit of $26,556,828 at June 30, 2004.
24 Sept 2004asset acquisition disposition● NeutralMajor
On September 20, 2004 Gasco closed the second and final part of its Riverbend net profits interest sale to Red Oak Capital Management, MBG and MBGV Partition, covering three more wells. It received $1,390,960 after adjustments, bringing total cash for both parts to $4,314,984. This resolves the pending second closing; Gasco remains operator with a 75%-100% working interest in all 8 wells, and a pro forma 8-K/A was promised.
14 Sept 2004auditor change● Neutral
Deloitte & Touche resigned as Gasco's auditor on September 8, 2004, after discussions about staffing demands from Sarbanes-Oxley requirements, and Hein & Associates was engaged on September 14 for fiscal 2004. Deloitte stays on for tax advice. The filing reports no disagreements and no reportable events. This reverses the 2001 choice of Deloitte.
10 Sept 2004substantial holder notice● Neutral
Salomon Brothers Asset Management Inc., Citigroup Financial Products Inc., Citigroup Global Markets Holdings Inc., Citigroup Inc. disclosed a new substantial GASCO ENERGY INC shareholding (12.20% of votes).
7 Sept 2004asset acquisition disposition● NeutralMajor
On August 20, 2004 Gasco sold net profits interests of 18.75% to 25% in five Riverbend wells in Utah to Red Oak Capital Management, MBG and MBGV Partition, receiving $2,924,024 cash after adjustments. A second part covering three more wells, for $1,537,036 less adjustments, depends on resolving title defects and is expected before September 30, 2004. Gasco keeps its working interest and operatorship, and the interests expire twelve years after each well's first production.
25 May 2004securities registration● Neutral
GASCO ENERGY INC filed the final prospectus for a registered offering.
13 May 2004securities registration● Neutral
GASCO ENERGY INC amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
15 Apr 2004securities registration● Neutral
GASCO ENERGY INC registered a securities offering with the SEC using its shelf eligibility.
14 Apr 2004asset acquisition disposition● Neutral
This filing adds the financial statements for the March 2004 Riverbend purchase from ConocoPhillips. The properties had 2003 oil and gas revenue of $1,087,616 against direct operating costs of $412,029. Reserves on a 100% basis are 8.0 Bcfe, versus 6.5 Bcfe if the third party exercises its purchase right. The pro forma shows 2003 net loss of $2,526,525 as reported, or $1,928,138 with the acquisition included.
25 Mar 2004substantial holder notice● Neutral
RENAISSANCE US GROWTH INVESTMENT TRUST PLC disclosed a new substantial GASCO ENERGY INC shareholding (3.60% of votes).