Past year: ▼ 96%(1.00c – 38.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
12 May 2010asset acquisition disposition● Neutral
Recovery Energy sold its two drilling rigs for $700,000 (mostly a promissory note) to Resource Energy, a company affiliated with Matthew Jennings, who along with his affiliates already held about 12.2% of Recovery Energy's stock - exiting the drilling-services side of the business it had floated at its 2009 founding to focus on its own wells.
12 May 2010substantial holder notice● Neutral
Edward Mike Davis disclosed a new substantial LILIS ENERGY, INC. shareholding (15.20% of votes).
12 May 2010substantial holder notice● Neutral
Edward Mike Davis reported a LILIS ENERGY, INC. shareholding of 4,500,000 shares (23.60% of votes) in a periodic institutional filing.
11 May 2010director interest notice● Neutral
Edward Mike Davis became a LILIS ENERGY, INC. 10%+ owner and company insider (initial ownership filing).
4 May 2010capital raising announcement● Neutral
Recovery Energy hired C.K. Cooper & Company as a financial advisor for $125,000 cash plus about 31,000 shares of stock.
30 Apr 2010capital raising announcement▼ Bad
Recovery Energy raised $250,000 selling stock at just $0.75/share - a steep drop from the $2.25-$4.00 prices of its recent raises, signaling weakening investor demand for its shares.
26 Apr 2010substantial holder notice● Neutral
Hexagon Investments, LLC reported a LILIS ENERGY, INC. shareholding of 7,000,000 shares (33.20% of votes) in a periodic institutional filing.
20 Apr 2010capital raising announcement▼ BadMajor
Recovery Energy bought six more Wyoming wells and 1,240 acres for $15 million cash plus stock, again from Edward Mike Davis LLC (now a 23.5% shareholder), financed by a third Hexagon Investments loan at 15% interest also maturing December 1, 2010. Hexagon's stake, built entirely from financing-related share and warrant grants, reached 26.2% - stacking three high-rate secured loans onto the same December 2010 maturity wall while ownership concentrates in the lender and asset seller.
14 Apr 2010director interest notice● Neutral
Hexagon Investments, LLC became a LILIS ENERGY, INC. 10%+ owner and company insider (initial ownership filing).
14 Apr 2010substantial holder notice● Neutral
Hexagon Investments, LLC disclosed a new substantial LILIS ENERGY, INC. shareholding (13.10% of votes).
31 Mar 2010late filing notice▼ Bad
LILIS ENERGY, INC. notified the SEC that its annual report would be filed late.
25 Mar 2010capital raising announcement● NeutralMajor
Recovery Energy bought four producing wells and 15,900 acres in the Nebraska/Wyoming DJ Basin for $6 million cash plus stock from Edward Mike Davis LLC, now a 14.9% shareholder, financing the cash portion with another Hexagon Investments loan at 15% interest maturing December 2010. Hexagon's stake grew to 13.1% of the company from shares issued alongside its loans.
12 Mar 2010capital raising announcement● Neutral
Recovery Energy raised another $100,000 in a small private stock placement at $2.25/share.
4 Mar 2010debt financing● NeutralMajor
Recovery Energy borrowed $4.5 million from Hexagon Investments at 15% interest, maturing December 2010 and secured by mortgages on its Wilkie field wells, to fund a property repurchase - and paid Hexagon 1 million shares of stock on top. This is the start of a high-cost secured lending relationship, not a change to shareholder rights as classified.
21 Jan 2010capital raising announcement● Neutral
Recovery Energy unwound its Rush Willadel field structure - buying back the 250,000 shares it had issued to the original seller for $750,000 cash, while chairman Roger Parker personally bought the company's remaining 50% interest in those wells for $750,000. The company also raised a further $200,000 selling stock and changed auditors again.
What it means for a shareholder
250,000 new shares at about $0.800 to raise about $200,000. 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.
12 Jan 2010director interest notice● Neutral
Roger A Parker became a LILIS ENERGY, INC. director and company insider (initial ownership filing).
12 Jan 2010director interest notice● Neutral
LILIS ENERGY, INC. director Roger A Parker received 1,000,000 shares as part of the equity award.
12 Jan 2010director interest notice● Neutral
LILIS ENERGY, INC. President & CEO Jeffrey A. Beunier received 464,200 shares as part of the equity award.
11 Jan 2010director interest notice● Neutral
James Joseph Miller became a LILIS ENERGY, INC. director and company insider (initial ownership filing).
11 Jan 2010securities registration● Neutral
LILIS ENERGY, INC. registered a securities offering with the SEC using its shelf eligibility.
11 Jan 2010director interest notice● Neutral
Roger A Parker became a LILIS ENERGY, INC. director and company insider (initial ownership filing).
17 Dec 2009capital raising announcement▲ Good
Recovery Energy issued Bel-Car Properties a warrant for 750,000 shares at $3.50 in exchange for a commitment to arrange up to $20 million in financing for future oil and gas purchases - a funding line to support the company's acquisition spree, not yet drawn.
9 Dec 2009asset acquisition disposition● NeutralMajor
Recovery Energy acquired working interests in wells and acreage at Wilkie Field, Nebraska, paying with 1.45 million shares of stock plus a $2.2 million promissory note due within two weeks - expanding its asset base but adding near-term debt.
2 Dec 2009capital raising announcement▲ Good
Recovery Energy raised $400,000 in a small private placement of stock at $4.00/share to fund its early oil and gas buildout.
13 Nov 2009asset acquisition disposition▲ GoodMajor
Recovery Energy made its first oil and gas acquisition, buying three producing wells in Colorado's Rush Willadel field for $750,000 cash plus stock, then immediately sold half the interest back to a third party for $750,000 cash, recovering most of its outlay.
23 Sept 2009auditor change● Neutral
Following the reverse merger, the company dismissed its shell-era auditor Webb & Co. and engaged JSWA, with no disagreements reported - routine cleanup as it became an operating oil and gas company.
22 Sept 2009business combination● NeutralMajor
Universal Holdings, a dormant Nevada shell company, reverse-merged with oil and gas operator Coronado Acquisition and renamed itself Recovery Energy - the transaction that created the company later known as Lilis Energy.
3 Sept 2008securities registration● Neutral
LILIS ENERGY, INC. amended a filing by which it registered a securities offering with the SEC.
25 Aug 2008securities registration● Neutral
LILIS ENERGY, INC. amended a filing by which it registered a securities offering with the SEC.
15 Aug 2008securities registration● Neutral
LILIS ENERGY, INC. amended a filing by which it registered a securities offering with the SEC.
