12 Nov 2013quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $2.0 million for the period ended 2013-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Oct 2013securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. filed notice of an exempt private placement.
8 Oct 2013securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. filed notice of an exempt private placement.
7 Oct 2013capital raising announcement▼ Bad
Harvest sold 790,000 shares to six private buyers over four days for a combined $3.9 million - small, hand-to-mouth raises at around $5 a share from a company that had turned down nothing less than $725 million a year earlier.
9 Aug 2013quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $4.5 million for the period ended 2013-06-30.
10 July 2013substantial holder notice● Neutral
BlackRock, Inc reported a HARVEST NATURAL RESOURCES, INC. shareholding of 967,259 shares (2.45% of votes) in a periodic institutional filing.
21 June 2013auditor change▼ BadMajor
PricewaterhouseCoopers was dismissed and UHY appointed. The parting opinion tells the story: PwC's 2012 report carried substantial doubt about whether Harvest could continue as a going concern and stated that its internal financial controls were not effective.
24 May 2013listing compliance notice▼ Bad
HARVEST NATURAL RESOURCES, INC. withdrew a registration statement, abandoning the offering it covered.
13 May 2013quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $36.1 million for the period ended 2013-03-31.
13 May 2013quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $36.1 million for the period ended 2013-03-31.
13 May 2013quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $36.1 million for the period ended 2013-03-31.
13 May 2013late filing notice▼ Bad
HARVEST NATURAL RESOURCES, INC. notified the SEC that its quarterly report would be filed late.
6 May 2013quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $36.1 million for the period ended 2013-03-31.
10 Apr 2013listing compliance notice▼ BadMajor
Because the restatement made it impossible to file the 2012 annual report on time, the New York Stock Exchange formally put Harvest on notice and under monitoring - accounting problems turning into a listing problem.
4 Apr 2013production update▼ BadMajor
Harvest wrote down assets in its 2012 accounts and issued an operational update the day after saying those accounts had to be redone - the write-offs and the restatement landing together.
3 Apr 2013financial restatement▼ BadMajor
A second, much wider restatement: three years of accounts back to 2010 could no longer be relied on, principally because the warrants issued with the 2010 MSD loan had been valued wrongly and treated as equity when they were liabilities. Coming four years after the Petrodelta restatement, this was a pattern rather than an accident.
29 Mar 2013substantial holder notice● Neutral
Glenhill Advisors, LLC, Glenn J. Krevlin, Glenhill Capital Advisors, LLC, Glenhill Capital Management, LLC disclosed a new substantial HARVEST NATURAL RESOURCES, INC. shareholding (5.20% of votes).
19 Mar 2013late filing notice▼ Bad
HARVEST NATURAL RESOURCES, INC. notified the SEC that its annual report would be filed late.
25 Feb 2013material agreement termination▼ BadMajor
The $725 million Pertamina sale collapsed: the Indonesian government, Pertamina's owner, declined to approve it, and Harvest terminated the agreement. Eight months of waiting ended with the company still holding an unsellable Venezuelan asset and $79.8 million of 11% debt it had raised in the meantime.
14 Feb 2013substantial holder notice● Neutral
JET CAPITAL INVESTORS, L.P, Jet Capital Management, L.L.C, Alan S. Cooper, Matthew Mark reported a HARVEST NATURAL RESOURCES, INC. shareholding of 3,633,212 shares (9.22% of votes) in a periodic institutional filing.
14 Feb 2013substantial holder notice● Neutral
Amici Associates L.P, Amici Qualified Associates, L.P, The Collectors' Fund L.P, Amici Fund International, Ltd, CF Advisors, LLC, A. Alex Porter, Paul E. Orlin, Third Party Fund A reported a HARVEST NATURAL RESOURCES, INC. shareholding of 3,621,632 shares (9.20% of votes) in a periodic institutional filing.
12 Feb 2013substantial holder notice● Neutral
The Vanguard Group reported a HARVEST NATURAL RESOURCES, INC. shareholding of 2,022,205 shares (5.12% of votes) in a periodic institutional filing.
8 Feb 2013substantial holder notice● Neutral
BlackRock, Inc reported a HARVEST NATURAL RESOURCES, INC. shareholding of 2,301,530 shares (5.84% of votes) in a periodic institutional filing.
4 Feb 2013security holder rights change● Neutral
The rights plan was amended again to accommodate the warrants issued to the MSD funds with the October 2012 notes, so that lending to Harvest did not accidentally trigger the poison pill.
10 Dec 2012substantial holder notice● Neutral
Capital World Investors ** reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,492,322 shares (3.80% of votes) in a periodic institutional filing.
30 Nov 2012material agreement▼ BadMajor
The Pertamina agreement had to be amended for the first time, five months after signing and with Indonesian approval still not granted.
15 Nov 2012securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
9 Nov 2012quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $5.8 million for the period ended 2012-09-30.
19 Oct 2012securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. filed notice of an exempt private placement.
15 Oct 2012capital raising announcement▼ BadMajor
With the Pertamina sale still unapproved, Harvest borrowed $79.8 million at 11% for two years, issued at 96 cents on the dollar and with warrants over 686,761 shares at $10 attached. Part of it was paid for by rolling in an existing convertible note. Borrowing this expensively against a sale that had not closed is what later made the sale's failure fatal.