21 July 2016director interest notice● Neutral
HARVEST NATURAL RESOURCES, INC. VP Engineering & Business Dev Karl L Nesselrode had 1,852 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 July 2016director interest notice● Neutral
HARVEST NATURAL RESOURCES, INC. Vice President Keith L Head had 1,852 shares withheld for taxes on vesting stock.
21 July 2016director interest notice● Neutral
Robert Speirs became a HARVEST NATURAL RESOURCES, INC. Senior Vice President and company insider (initial ownership filing).
21 July 2016director interest notice● Neutral
HARVEST NATURAL RESOURCES, INC. Vice President Stephen C Haynes had 1,852 shares withheld for taxes on vesting stock.
1 July 2016substantial holder notice● Neutral
CT Energy Holding SRL, Oswaldo Cisneros Fajardo reported a HARVEST NATURAL RESOURCES, INC. shareholding of 8,667,597 shares (16.80% of votes) in a periodic institutional filing.
30 June 2016debt financing● NeutralMajor
The third and final attempt to sell Venezuela, this time to the lender itself: CT Energy agreed to buy Harvest's remaining 51% of the Petrodelta holding company - an indirect 20.4% of Petrodelta - for $80 million in cash plus an 11% note. Selling the asset to the party that already controlled the company is not an auction outcome, but by now there was no other buyer.
24 June 2016debt financing▼ BadMajor
CT Energy began drawing down the standby facility, lending a first $2 million secured on substantially everything Harvest owned including its subsidiaries' shares - and in doing so pushed back the date on which it could have called in its claim.
19 May 2016quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $14.1 million for the period ended 2016-03-31.
16 May 2016quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $14.1 million for the period ended 2016-03-31.
11 May 2016late filing notice▼ Bad
HARVEST NATURAL RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
9 May 2016debt financing▼ BadMajor
A third amendment in as many months: CT Energy lent another $3 million and rolled the next $1.08 million of interest into principal as well, taking the note to $30.9 million. The debt was growing by itself while the company shrank.
29 Apr 2016listing compliance notice▼ BadMajor
A different and more serious listing failure: Harvest's average market value had fallen below $50 million at the same time as its shareholders' equity, and the exchange required an eighteen-month recovery plan. The price notices had been about the share; this one was about the whole company being too small to list.
7 Apr 2016debt financing▼ BadMajor
A second amendment to the same note wiped out the $975,445 of interest due that April by adding it to the principal, which rose to $27.0 million. Harvest could not pay interest in cash on the loan that had rescued it nine months earlier.
5 Apr 2016quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $14.1 million for the period ended 2016-03-31.
16 Mar 2016late filing notice▼ Bad
HARVEST NATURAL RESOURCES, INC. notified the SEC that its annual report would be filed late.
10 Mar 2016substantial holder notice● Neutral
CT Energy Holding SRL, Oswaldo Cisneros Fajardo reported a HARVEST NATURAL RESOURCES, INC. shareholding of 8,667,597 shares (16.80% of votes) in a periodic institutional filing.
7 Jan 2016debt financing● NeutralMajor
Harvest rolled a missed interest payment into the principal of the CT Energy note, and at the same time its Venezuelan-side subsidiary lent money back to CT Energia - the Malta company that had been managing those Venezuelan interests since the June 2015 deal - on an 11% note due 2019. Money was moving in both directions between the company and the group that controlled it.
4 Dec 2015listing compliance notice▼ BadMajor
The share price fell back below $1 and the New York Stock Exchange restarted the six-month compliance clock - the second such notice in ten months, and this time after the CT Energy rescue rather than before it.
12 Nov 2015quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $3.5 million for the period ended 2015-09-30.
9 Nov 2015quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $3.5 million for the period ended 2015-09-30.
29 Sept 2015securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
18 Sept 2015substantial holder notice● Neutral
CT Energy Holding SRL, CTVEN Investments SRL, Oswaldo Cisneros Fajardo, Francisco D&#, Alessandro Bazzoni reported a HARVEST NATURAL RESOURCES, INC. shareholding of 8,667,597 shares (16.60% of votes) in a periodic institutional filing.
11 Sept 2015agm notice● NeutralMajor
Shareholders approved every one of the eight proposals put to the annual meeting, including nearly doubling the authorised share count from 80 million to 150 million and clearing CT Energy's convertible note and 34 million-share warrant. The company reported this as a change of control, which is what it was: the June rescue became permanent with the holders' consent.
12 Aug 2015quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $25.4 million for the period ended 2015-06-30.
7 Aug 2015quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $25.4 million for the period ended 2015-06-30.
10 July 2015substantial holder notice● Neutral
BlackRock, Inc reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,337,544 shares (3.10% of votes) in a periodic institutional filing.
2 July 2015listing compliance notice▼ Bad
Three long-serving directors had resigned to make room for CT Energy's nominees, which left the audit committee with only one independent member and drew a fresh notice from the New York Stock Exchange. Harvest reconstituted the committee within a day and the breach was cured.
30 June 2015substantial holder notice● Neutral
CT Energy Holding SRL, CTVEN Investments SRL, Oswaldo Cisneros Fajardo, Francisco D&#, Alessandro Bazzoni disclosed a new substantial HARVEST NATURAL RESOURCES, INC. shareholding (16.60% of votes).
23 June 2015substantial holder notice● Neutral
GRUSS GLOBAL INVESTORS MASTER FUND, LTD, GRUSS CAPITAL MANAGEMENT LP, GRUSS MANAGEMENT, LLC, SEAN DANY reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,757,198 shares (4.10% of votes) in a periodic institutional filing.
22 June 2015director officer appointment● NeutralMajor
The rescue, and the price of it: CT Energy Holding, a Venezuelan-Italian consortium, put in $32.2 million through a 15% secured note and a 9% note convertible into 8.5 million shares at $0.82, took a warrant over 34.1 million more shares at $1.25, promised up to $12 million further in monthly instalments, and received preferred stock carrying votes plus three board seats and a veto over issuing shares, budgets, senior pay and even filing for bankruptcy. The proceeds repaid the chief executive's $50,000 note, $1.3 million owed to a CT affiliate and Petroandina's $7.6 million. Harvest survived by handing effective control to its lender.