2 Mar 2007director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 779 shares at $6.56.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Feb 2007director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 787 shares at $6.74.
4 Jan 2007director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 5,000 shares at $6.34.
12 Dec 2006director interest notice● Neutral
NGAS Resources Inc Chief Financial Officer Michael P Windisch sold 300 shares at $7.20.
4 Dec 2006director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 750 shares at $7.89.
2 Nov 2006director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 750 shares at $7.96.
3 Oct 2006director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 750 shares at $7.97.
11 Sept 2006material agreement▲ GoodMajor
On September 8, 2006, NGAS and Daugherty Petroleum signed a new five-year senior secured revolving credit agreement with KeyBank, replacing the prior facility (borrowing base $35 million, due July 31, 2007). It allows up to $125 million in total with a current borrowing base of $50 million, and $35 million was outstanding at signing; it is secured by the producing wells and field-wide gathering systems and guaranteed by NGAS.
5 Sept 2006director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 750 shares at $8.68.
28 Aug 2006director interest notice● Neutral
NGAS Resources Inc Chief Financial Officer Michael P Windisch sold 5,000 shares at $9.63.
28 Aug 2006director interest notice● Neutral
NGAS Resources Inc director Charles Cotterell sold 10,000 shares at $9.76.
23 Aug 2006director interest notice● Neutral
NGAS Resources Inc President and Chairman William S Daugherty sold 20,000 shares at $9.01.
23 Aug 2006director interest notice● Neutral
NGAS Resources Inc Chief Financial Officer Michael P Windisch sold 1,000 shares at $9.10.
14 Aug 2006director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III disposed of 200,000 shares via option/appreciation-right settlement.
5 Apr 2006auditor change● Neutral
On April 5, 2006, the audit committee approved switching the parent company to U.S. accounting standards and hiring Hall Kistler (already auditor of the U.S. operating subsidiaries since 1998) in place of Kraft Berger, auditor since 1992, for the 2006 audit, subject to shareholder ratification at the next annual meeting. The filing says there were no disagreements with Kraft Berger and its opinions were unqualified; the stated reason is removing separate accounting and auditors at the two levels.
22 Mar 2006securities registration● Neutral
NGAS Resources Inc filed the final prospectus for a registered offering.
14 Mar 2006securities registration● Neutral
NGAS Resources Inc amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
14 Feb 2006substantial holder notice● Neutral
Wellington Management Company, LLP reported a NGAS Resources Inc shareholding of 579,100 shares (2.90% of votes) in a periodic institutional filing.
7 Feb 2006securities registration● Neutral
NGAS Resources Inc amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
20 Jan 2006material agreement▲ GoodMajor
On January 17, 2006, NGAS Gathering, a subsidiary, agreed to buy from Duke Energy Gas Services a 116-mile gas gathering system in southeastern Kentucky and southwestern Virginia for $18 million. Closing depends on customary conditions including Federal Energy Regulatory Commission approval of a related notice filing, and funding is expected to come from part of the December 2005 convertible note proceeds.
9 Jan 2006securities registration● Neutral
NGAS Resources Inc registered a securities offering with the SEC using its shelf eligibility.
14 Dec 2005capital raising announcement● NeutralMajor
NGAS agreed on December 13, 2005 and issued on December 14 $37 million of 6% convertible notes due December 15, 2010 to institutional investors, convertible at $14.34 per share, plus warrants for up to 945,809 shares at $13.04. Terms include price-adjustment protection for investors if shares are later sold cheaper, repayment at 125% on default and at least 110% on a change of control, and a promise to seek shareholder approval at the next annual meeting; this is much larger than the $6.1 million note of October 2004 and could dilute existing holders if converted.
28 Sept 2005director interest notice● Neutral
NGAS Resources Inc Vice President D Michael Wallen sold 100,000 shares at $12.54.
28 Sept 2005director interest notice● Neutral
NGAS Resources Inc Chief Financial Officer Michael P Windisch sold 3,500 shares.
28 Sept 2005director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 10,000 shares.
26 Sept 2005director interest notice● Neutral
NGAS Resources Inc President and Chairman William S Daugherty sold 10,000 shares at $10.12.
26 Sept 2005director interest notice● Neutral
NGAS Resources Inc Chief Financial Officer Michael P Windisch sold 2,000 shares at $10.05.
26 Sept 2005director interest notice● Neutral
NGAS Resources Inc Vice President William G Barr III sold 5,000 shares at $10.30.
21 Sept 2005director interest notice● Neutral
NGAS Resources Inc director Charles Cotterell sold 10,000 shares at $10.12.
17 Aug 2005securities registration● Neutral
NGAS Resources Inc filed the final prospectus for a registered offering.