2 Oct 2013director interest notice● Neutral
Petrolia Energy Corp 10%+ owner Rick Wilber bought 285,000 shares on the open market.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Aug 2013securities registration● Neutral
Petrolia Energy Corp filed notice of an exempt private placement.
14 Aug 2013director interest notice● Neutral
Matthew Robert Ferguson became a Petrolia Energy Corp director and company insider (initial ownership filing).
14 Aug 2013quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $237 thousand for the period ended 2013-06-30.
14 Aug 2013director interest notice● Neutral
Petrolia Energy Corp director Matthew Robert Ferguson received 500,000 shares as part of the equity award.
13 Aug 2013director interest notice● Neutral
Petrolia Energy Corp 10%+ owner Rick Wilber bought 1,400,000 shares on the open market.
7 Aug 2013director interest notice● Neutral
Petrolia Energy Corp Principal Executive, FAO Marc Stephen Spezialy received 300,000 shares as part of the equity award.
23 July 2013securities registration● Neutral
Petrolia Energy Corp filed notice of an exempt private placement.
17 July 2013listing compliance notice▼ Bad
Petrolia Energy Corp withdrew a registration statement, abandoning the offering it covered.
20 June 2013capital raising announcement● NeutralMajor
The company raised $350,000 from director Rick Wilber through a 6% convertible note due June 17, 2016, convertible at $0.30 per share, plus a warrant for 1,000,000 shares at $0.80 per share. The note is secured by three of the company's Milam County oil wells, and the company says it plans to use part of the money to drill two new wells in the Minerva-Rockdale Field. Marc Spezialy is now signing as CEO. Shareholders face possible dilution if the note converts or the warrant is exercised.
15 May 2013quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $372 thousand for the period ended 2013-03-31.
17 Jan 2013director interest notice● Neutral
Petrolia Energy Corp Chief Executive Office Michael Dale Smith bought 2,000,000 shares on the open market.
17 Dec 2012securities registration● Neutral
Petrolia Energy Corp amended a filing by which it registered a securities offering with the SEC.
14 Nov 2012quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $524 thousand for the period ended 2012-09-30.
8 Nov 2012asset acquisition disposition● Neutral
The company reports that it paid Kingman $475,000 for the 200-acre Minerva-Rockdale lease (100% working interest, 75% net revenue interest) and let its option on the adjacent 300-acre lease lapse into a revised deal. On November 7, 2012 it issued Kingman 400,000 restricted shares, valued at $280,000, for an option to buy that lease for $920,000 (down from $1,275,000) by January 31 (the filing says 2012, which appears to be a typo for 2013 — an inference). This completes the Kingman deal first described in the April 2012 filing.
24 Oct 2012securities registration● Neutral
Petrolia Energy Corp registered a securities offering with the SEC.
7 Sept 2012securities registration● Neutral
Petrolia Energy Corp filed notice of an exempt private placement.
7 Sept 2012capital raising announcement▲ GoodMajor
Now named Rockdale Resources Corporation, the company sold 5,781,798 shares to private investors at $0.70 per share on August 31, 2012, for $4,047,250, with no commissions. This new money adds to the share count and is the funding for the Minerva-Rockdale oil push, though the filing does not say how the money will be used.
What it means for a shareholder
5.8m new shares at $0.700 to raise about $4.0m. That's 27% dilution: every existing holder's slice gets 27% smaller. If you held $1,000 of shares (1,429 at the issue price), your slice goes from 0.00908% to 0.00664% of the company. To keep it you'd need 525 more shares - about $368 at the issue price.
Create a free account to see this worked out for your own holding.
20 Aug 2012quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $569 thousand for the period ended 2012-06-30.
14 Aug 2012late filing notice▼ Bad
Petrolia Energy Corp notified the SEC that its quarterly report would be filed late.
15 May 2012quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $47 thousand for the period ended 2012-03-31.
9 May 2012director interest notice● Neutral
John P Barton became a Petrolia Energy Corp Vice President and company insider (initial ownership filing).
9 May 2012director interest notice● Neutral
Rick Wilber became a Petrolia Energy Corp director and company insider (initial ownership filing).
8 May 2012director interest notice● Neutral
Marc Stephen Spezialy became a Petrolia Energy Corp Chief Financial Officer and company insider (initial ownership filing).
4 May 2012business combination● NeutralMajor
Control of Art Design, Inc. moved to a new team: Michael Smith (CEO, founder of Kingman Energy LLC) and Rick Wilber were appointed directors, Marc Spezialy became financial officer, and the Sheehans resigned as officers (and will resign as directors). The company also plans a related-party deal with Kingman Operating Company: $475,000 for a 100% working interest (75% net revenue interest) in a 200-acre lease in the Minerva-Rockdale field, Milam County, Texas, plus $275,000 for drilling and an option on an adjacent 300-acre lease for $1,275,000. This is the company's move into oil and gas; 10,820,600 shares were outstanding, with Smith (via Kingman Energy) holding 14.6% and Wilber 10.0%.
26 Apr 2012director interest notice● Neutral
Michael Dale Smith became a Petrolia Energy Corp Chief Executive Officer and company insider (initial ownership filing).
8 Nov 2011quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $9 thousand for the period ended 2011-09-30.
18 Aug 2011quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $4 thousand for the period ended 2011-06-30.
15 Aug 2011quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $4 thousand for the period ended 2011-06-30.
16 May 2011quarterly activities report▼ Bad
Petrolia Energy Corp reported a quarterly net loss of $9 thousand for the period ended 2011-03-31.