Past year: ▲ 19%(0.37c – 1.45c USD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Sept 2010auditor change● Neutral
On Sept 2, 2010 Providence released its auditor Chisholm, Bierwolf, Nilson & Morrill (engaged since Dec 2004) and hired BehlerMick PS. The filing reports no disagreements with Chisholm; the Company address is now 500 N. Capital of Texas Highway, Austin.
16 Aug 2010quarterly activities report● Neutral
PROVIDENCE RESOURCES INC reported quarterly revenue of $0 and net income of $214 thousand for the period ended 2010-06-30.
17 May 2010late filing notice▼ Bad
PROVIDENCE RESOURCES INC notified the SEC that its quarterly report would be filed late.
6 Apr 2010capital raising announcement● NeutralMajor
Providence extended its Val Verde leases (now 13,341.3 acres) with I.W. Carson LLC to Feb 29, 2013 for $510,000 plus $834,130 due by June 20, 2010, with an obligation to drill two additional wells. Effective March 1, 2010, Elm Ridge assigned its 50% interest in the leases back to Providence, reversing the 2008 sale (the filing does not say why). Providence also swapped older notes held by Global Convertible Megatrend and FAGEB AG for new 8% five-year convertible notes ($665,334, $530,847 and $622,401) convertible at $0.04, and issued a new $510,000 note to Global with a 5.1% net revenue interest carry in the Carson 10-1 and 12-1 wells, also convertible at $0.04. Conversion at $0.04 is half the $0.08 price in the Aug 2007 notes, which is a comparison from the filings; if converted, shareholders would be diluted.
31 Mar 2010late filing notice▼ Bad
PROVIDENCE RESOURCES INC notified the SEC that its annual report would be filed late.
17 Feb 2010director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO CFO PAO Gilbert Burciaga received a stock option grant for 275,000 shares.
14 Aug 2009late filing notice▼ Bad
PROVIDENCE RESOURCES INC notified the SEC that its quarterly report would be filed late.
22 July 2009director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO CFO PAO Gilbert Burciaga received a stock option grant for 275,000 shares.
15 May 2009late filing notice▼ Bad
PROVIDENCE RESOURCES INC notified the SEC that its quarterly report would be filed late.
9 Apr 2009director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO, CFO, PAO Gilbert Burciaga received a stock option grant for 275,000 shares.
4 Mar 2009director interest notice● Neutral
PROVIDENCE RESOURCES INC director Markus Mueller received a stock option grant for 700,000 shares.
3 Mar 2009director interest notice● Neutral
PROVIDENCE RESOURCES INC director Nora Coccaro received a stock option grant for 550,000 shares.
16 Jan 2009director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO,CFO,PAO Gilbert Burciaga received a stock option grant for 150,000 shares.
11 Dec 2008director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO,CFO,PAO Gilbert Burciaga received a stock option grant for 2,000,000 shares.
3 Dec 2008asset acquisition disposition▲ GoodMajor
Providence closed a deal on Aug 8, 2008 (agreement dated July 31, 2008) in which Elm Ridge Exploration Company acquired a 50% interest in the Val Verde County leases for $7,212,000 (including a $100,000 non-refundable option credit), plus a commitment to carry Providence for $2,000,000 on the first two Ellenberger wells. Providence sold half of its main Val Verde asset; the filing says the closing was first disclosed in the June 30, 2008 10-Q.
2 Oct 2008director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO, CFO, PAO Gilbert Burciaga received a stock option grant for 150,000 shares.
9 Sept 2008material agreement▲ GoodMajor
Providence disclosed two amendments to its 2006 purchase of the Val Verde County leases from Global Mineral Solutions. On Aug 24, 2007 Global's option to force forfeiture of the leases if no well was started within 18 months was removed. On Aug 20, 2008 the drilling obligations were reworked: the four-well Ellenberger obligation can drop to two wells if the first two are not economically viable (in which case the shallower-well obligation rises from four to five wells, at Providence's option), Global's 13% carried interest converts to a working interest for additional wells once those obligations are met, and the requirement to complete a pipeline within three years was removed. This loosens terms on the Val Verde asset described in earlier filings.
10 July 2008director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO, CFO, PAO Gilbert Burciaga received a stock option grant for 150,000 shares.
25 June 2008securities registration● Neutral
PROVIDENCE RESOURCES INC amended an already-effective registration statement.
24 June 2008director interest notice● Neutral
Christian Russenberger became a PROVIDENCE RESOURCES INC director and company insider (initial ownership filing).
20 June 2008director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO, CFO, PAO Gilbert Burciaga received a stock option grant for 4,500,000 shares.
31 Mar 2008late filing notice▼ Bad
PROVIDENCE RESOURCES INC notified the SEC that its annual report would be filed late.
14 Nov 2007late filing notice▼ Bad
PROVIDENCE RESOURCES INC notified the SEC that its quarterly report would be filed late.
21 Sept 2007director interest notice● Neutral
Edward Louis Moses became a PROVIDENCE RESOURCES INC director and company insider (initial ownership filing).
17 Sept 2007director interest notice● Neutral
Gilbert Burciaga became a PROVIDENCE RESOURCES INC CEO, CFO AND PAO and company insider (initial ownership filing).
11 Sept 2007capital raising announcement● NeutralMajor
In August 2007 Providence Resources issued secured notes to non-U.S. investors: $2,500,000 on August 8 (four convertible notes), $500,000 on August 15 (two convertible notes), and a $200,000 non-convertible note to BlueMont Investment Ltd. on August 27, about $3.2 million in total. All bear 10% interest and mature in August 2010, and the convertible ones convert at $0.08 per share. They are secured by seismic data from the Carson/Cole Ranch leases in Val Verde County. The $0.08 conversion price is far below the $0.98 and $1.165 prices cited in the 2006 proxies; that is a comparison from the filings, and the filing gives no reason. Gilbert Burciaga is now listed as CEO, with an Austin, Texas office, replacing Nora Coccaro in the earlier filings.
25 May 2007securities registration● Neutral
PROVIDENCE RESOURCES INC amended a filing by which it registered a small-business securities offering with the SEC.
16 May 2007late filing notice▼ Bad
PROVIDENCE RESOURCES INC notified the SEC that its quarterly report would be filed late.
3 May 2007securities registration● Neutral
PROVIDENCE RESOURCES INC amended a filing by which it registered a small-business securities offering with the SEC.
1 May 2007director interest notice● Neutral
PROVIDENCE RESOURCES INC CEO, CFO AND PAO Nora Coccaro bought 20,000 shares on the open market at $0.18.
