14 Feb 2023director interest notice● Neutral
Mogul Energy International, Inc. 10%+ owner Aura Oil Holdings LTD. sold 269,972 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Oct 2021director interest notice● Neutral
Mogul Energy International, Inc. 10%+ owner Aura Oil Holdings LTD. sold 249,950 shares.
28 Sept 2012listing compliance notice▼ BadMajor
Mogul Energy International, Inc. suspended its duty to file periodic reports with the SEC.
13 Aug 2012quarterly activities report▼ Bad
Mogul Energy International, Inc. reported quarterly revenue of $37 thousand and a net loss of $20 thousand for the period ended 2012-06-30.
17 May 2012quarterly activities report▼ Bad
Mogul Energy International, Inc. reported quarterly revenue of $22 thousand and a net loss of $272 thousand for the period ended 2012-03-31.
26 Mar 2012late filing notice▼ Bad
Mogul Energy International, Inc. notified the SEC that its annual report would be filed late.
19 Dec 2011agm notice● Neutral
Mogul Energy International, Inc. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
14 Nov 2011quarterly activities report▼ Bad
Mogul Energy International, Inc. reported quarterly revenue of $6.9 million and a net loss of $256.3 million for the period ended 2011-09-30.
12 Aug 2011quarterly activities report▼ Bad
Mogul Energy International, Inc. reported quarterly revenue of $13 thousand and a net loss of $363 thousand for the period ended 2011-06-30.
16 May 2011quarterly activities report▼ Bad
Mogul Energy International, Inc. reported quarterly revenue of $0 and a net loss of $209 thousand for the period ended 2011-03-31.
30 Mar 2011late filing notice▼ Bad
Mogul Energy International, Inc. notified the SEC that its annual report would be filed late.
22 Mar 2011material agreement● Neutral
The filing reports that on January 26, 2011 Mogul sold an 8.3333% interest in its leases in Jackson County, Texas to Aura Oil Holdings Ltd. for $75,521. Aura is wholly owned by Naeem Tyab, who was Mogul's President at the time of the agreement, so this is a related-party sale, which Mogul says it believes is on terms comparable to an arm's length deal. This is the first filing to show Mogul holding Texas leases, consistent with the post-Excelaron US onshore focus. The filing is signed by Tim Turner as President and CEO, and the company address is now Houston, Texas, which indicates a change of leadership and location from the Seattle base and Naeem Tyab as signer (the filing does not explain either change).
19 Nov 2010quarterly activities report▼ Bad
Mogul Energy International, Inc. reported a quarterly net loss of $599.2 million for the period ended 2010-09-30.
10 Nov 2010late filing notice▼ Bad
Mogul Energy International, Inc. notified the SEC that its quarterly report would be filed late.
16 Aug 2010quarterly activities report● Neutral
Mogul Energy International, Inc. reported quarterly revenue of $0 and net income of $364.9 million for the period ended 2010-06-30.
30 Apr 2010material agreement● NeutralMajor
Mogul completed the Vesta deal in a changed form: it sold its 40% Excelaron interest to United Hydrocarbon (UHC) for the equivalent of about US$1,000,000, plus US$425,000 reimbursement of advances it made to Excelaron. This ends the Excelaron funding thread and the pending Vesta Qualifying Transaction; the filing mentions no Vesta shares (the earlier plan was 38,500,000 Vesta shares), so the terms differ from the January 2010 agreement. The press release says Mogul now intends to focus on onshore US prospects, with preliminary prospects in the upper Texas Gulf Coast that still need further work.
8 Feb 2010material agreement● NeutralMajor
On January 12, 2010, Mogul signed the definitive agreement with United Hydrocarbon, Excelaron, Vesta Capital and others that the October 2009 letter of intent anticipated. Vesta would acquire the direct 40% Excelaron interest and Mogul would receive 38,500,000 Vesta shares, giving it an expected 32% to 41% of Vesta, subject to closing. The deal depends on a financing of between C$4,000,000 and C$9,000,000 and on regulatory approvals, and the deadline was extended from January 29 to February 17, 2010; completion is not assured.
2 Oct 2009material agreement● NeutralMajor
On September 9, 2009, Mogul and Excelaron agreed a new payment schedule for the $2,300,000 contribution for its 40% Excelaron interest, which continues the funding problem flagged in February 2009 (the filing does not give the new dates or say why). Around September 21, 2009, Mogul signed a non-binding letter of intent with Vesta Capital Corp. (a Canadian capital pool company), United Hydrocarbon and Barisan Energy, under which Vesta would acquire 65% of Excelaron and Mogul would receive 38.5 million Vesta shares in exchange for its right to earn 40%. A definitive agreement is targeted by October 15, 2009, and the deal depends on due diligence, regulatory approvals including TSX approval, and a United Hydrocarbon financing.
15 May 2009late filing notice▼ Bad
Mogul Energy International, Inc. notified the SEC that its quarterly report would be filed late.
26 Mar 2009director interest notice● Neutral
Mogul Energy International, Inc. insider Robert C. Mussehl sold 50,000 shares.
26 Mar 2009late filing notice▼ Bad
Mogul Energy International, Inc. notified the SEC that its annual report would be filed late.
10 Mar 2009director interest notice● Neutral
Mogul Energy International, Inc. Chief Financial Officer (CFO) William Robert Smith sold 5,000 shares at $0.04.
10 Mar 2009director interest notice● Neutral
William Robert Smith became a Mogul Energy International, Inc. Chief Financial Officer and company insider (initial ownership filing).
19 Feb 2009asset acquisition disposition● NeutralMajor
On February 12, 2009, Mogul agreed to invest $2,300,000 (through October 1, 2009) in Excelaron, LLC, a California oil and gas exploration company, to earn a 40% interest; it has paid the first $175,000. The filing says the total far exceeds Mogul's working capital, no funding arrangements are in place, and the 40% stake would be reduced if Mogul fails to pay, so there is no assurance it keeps the full interest. It also discloses that Naeem Tyab and Parvez Tyab are shareholders of United Hydrocarbon Corporation, another Excelaron member, whose majority shareholder William Divine is a Mogul vice president. This is a new direction in California after the Egypt interest was sold in 2008.
10 Sept 2008director interest notice● Neutral
Mogul Energy International, Inc. CFO William Robert Smith bought 5,000 shares on the open market at $0.18.
10 Sept 2008director interest notice● Neutral
William Robert Smith became a Mogul Energy International, Inc. CFO and company insider (initial ownership filing).
9 Sept 2008director interest notice● Neutral
William Robert Smith became a Mogul Energy International, Inc. CFO and company insider (initial ownership filing).
9 Sept 2008director interest notice● Neutral
William Robert Smith became a Mogul Energy International, Inc. CFO and company insider (initial ownership filing).
12 Aug 2008late filing notice▼ Bad
Mogul Energy International, Inc. notified the SEC that its quarterly report would be filed late.
16 June 2008capital raising announcement● NeutralMajor
Mogul closed the two Canadian private placements on June 11, 2008, raising $950,000 from 3,800,000 flow-through shares at $0.25 and $1,260,000 from 6,300,000 shares at $0.20, which is $2,210,000 for 10,100,000 shares. Commissions are 7% cash plus warrants for 7% of shares sold. Together with earlier 2008 sales, Mogul has raised $2,567,450 from 12,483,000 shares since January 1, 2008, to be used for exploration and development on its Saskatchewan leases. The company says it is proceeding with its plan to seek a TSX Venture Exchange listing, subject to approval. This continues the financing begun in late 2007 and adds to the share count.
What it means for a shareholder
6.3m new shares at US$0.200 to raise about US$1.3m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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