Past year: ▼ 61%(17.02 – 51.07 USD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Nov 2008material agreement● NeutralMajor
On November 13, 2008 the bankruptcy court approved the October 22 settlement with Calpine, with closing set for December 1, 2008. The company pays $84.6 million (including $67.6 million for the withheld non-consent properties) plus $12.4 million to end all legal disputes, including Calpine's lawsuit, for $97 million in cash total; the Sacramento Basin gas purchase agreement is extended ten years. This resolves the 2007 lawsuit and title issues.
10 Aug 2007material agreement● Neutral
This amendment corrects the August 9 filing on what happens if the Calpine agreements are not approved. If the court does not approve, both are void; if approved but Calpine later rejects the 2005 purchase agreement, the marketing agreement can be ended at the company's option while the transfer and release agreement stays in force. Other terms are unchanged.
9 Aug 2007material agreement● NeutralMajor
On August 3, 2007 the company signed agreements with Calpine to fix title issues on some Gulf of Mexico, California and Wyoming properties bought in 2005, and to extend gas marketing with Calpine through June 30, 2009; it takes on those properties' obligations including plugging and abandonment. Both agreements need bankruptcy court approval. The filing also notes Calpine's June 29, 2007 lawsuit claiming the $1.05 billion 2005 purchase was for too little value (about $400 million claimed, or return of the assets), which the company says it will fight.
15 May 2007asset acquisition disposition● Neutral
The company furnished a press release on its first quarter 2007 earnings. The filing text itself gives no figures, and despite the asset-deal label it describes no acquisition or sale. The exhibit is not reproduced here and the filing contains no other substance.
19 Mar 2007production update▲ Good
Duplicate of the March 2007 filing: 2006 net income was $45 million ($0.88 diluted per share) on revenue of $272 million, with Q4 production of 98 MMcfe/d and Q4 net income of $13 million, up from $9 million.
19 Mar 2007production update▲ GoodMajor
The company reported 2006 net income of $45 million ($0.88 diluted per share) versus $18 million for the six months of 2005 as a stand-alone company, on revenue of $272 million. Fourth quarter production was 98 MMcfe/d and net income $13 million, up from $9 million a year earlier; Q4 revenue was $73 million.
3 Oct 2006drilling progress report● Neutral
Ahead of an October 5, 2006 conference presentation, the company reaffirmed its 2006 production goal of an average 105 MMcfe/day (including 4 MMcfe/day of non-consent properties) and capital spending of $190 million. It estimated costs at $2.54 per mcfe.
21 Apr 2006listing compliance notice▼ BadMajor
The company (filing as Rosetta Resources Inc.) filed its late 2005 annual report on April 20, 2006, after NASDAQ had warned on April 18 it would delist the stock on April 27; NASDAQ then withdrew the notice. The annual report restates Q3 2005 net income down $1.1 million to $8.2 million (EPS $0.16 diluted), because stock-offering costs tied to the Calpine oil and gas purchase were booked against paid-in capital instead of as expenses. It also reports two material weaknesses in internal controls at December 31, 2005, and selling by resale stockholders is suspended until an updated registration statement is effective. This resolves the late-filing thread from April 3.
