Past year: ▼ 100%(0.00c – 0.02c USD)
Each one in plain English, with the numbers worked through for a shareholder.
7 Mar 2013material agreement● NeutralMajor
On February 28, 2013 the company settled with MontCrest Energy and Black Strata, handing MontCrest its 25% working interests in Wells 105, 106, 113 and 115 in Coleman County, Texas. In return it received a 100% interest in about 1,400 acres of the Coleman County South Lease held by Black Strata. This reverses the 2012 well-by-well purchases into acreage; the filing does not say why the settlement was reached.
19 June 2012material agreement● Neutral
On June 18, 2012 the company replaced its March 29 agreement with MontCrest, raising its stake in the two-well Vaughn/Shields drilling program from a 5% working interest (70% net revenue interest) to 7% (75%) for an extra $46,000. The wells were still described as not yet producing.
12 June 2012material agreement● NeutralMajor
On June 8, 2012 the company signed a joint development and operating agreement with MontCrest Energy Properties, MontCrest Energy, and Black Strata, LLC, buying a 12.5% working interest for $90,784.50 in an approximately 2,421-acre area in Coleman County, Texas, with an option on another 12.5%. This deepens its Coleman County position with the same partner.
1 June 2012asset acquisition disposition● Neutral
On May 29, 2012 the company bought a 2.5% working interest (70% net revenue interest) in the Taylor-MEI #113 and #115 wells on MontCrest's Taylor Lease in Coleman County, Texas for $82,500. This adds to its Coleman County exposure alongside the March MontCrest drilling program.
24 May 2012material agreement● NeutralMajor
On May 24, 2012 the company signed a financing agreement under which one investor will provide up to $1,000,000 in advances until May 24, 2013, extendable by up to 12 months. For each advance the company issues shares priced at 90% of the average closing price over the prior five banking days, so any money drawn is paid for with new shares.
18 May 2012material agreement● Neutral
On May 15, 2012 the company sold 50,000 shares at $2.50 each to one non-U.S. investor, raising $125,000 gross. The price per share is higher than the $0.90 and $1.30 prices in the March sales.
2 Apr 2012asset acquisition disposition● NeutralMajor
Effective March 29, 2012 the company bought a 5% working interest (70% net revenue interest) in a two-well drilling program in Coleman County, Texas from MontCrest Energy, Inc. for $115,000. The Vaughn-MEI #106 and Shields-MEI #105-H wells are not yet producing, so this is a drilling-stage bet rather than existing production; it is the company's second oil and gas property after the Quinlan Lease.
20 Mar 2012material agreement● Neutral
On March 15, 2012 the company sold 100,000 shares at $1.30 each to one non-U.S. investor, raising $130,000 gross. This continues the series of small share sales that began earlier in March, at a higher price per share.
7 Mar 2012material agreement● Neutral
On March 1, 2012 the company sold 138,888 shares at $0.90 each to one non-U.S. investor, raising $125,000 gross. This adds to the number of shares outstanding.
30 Jan 2012asset acquisition disposition▲ GoodMajor
The company, now named Independence Energy Corp. (renamed from Oliver Creek Resources in August 2008), closed the purchase of a 2.5% interest in the Quinlan Lease in Pottawatomie County, Oklahoma from Wise Oil and Gas LLC on December 15, 2011, and a further 2.5% on December 23, 2011, for a total of 5%. It paid $15,616 per 1% of interest, and says it began earning revenue from the operating well on the property; this is its first producing oil and gas interest described in the filings so far.
31 Aug 2006auditor change▼ Bad
This amended version of the August auditor-change report adds a detail the first filing left out: the former auditor's report for the year ended January 31, 2006 raised substantial doubt about the company's ability to continue as a going concern, citing its lack of operations and net losses. The change to Chang G. Park as auditor is otherwise unchanged.
11 Aug 2006auditor change● Neutral
The company, then named Oliver Creek Resources, said its auditor Armando C. Ibarra resigned on August 4, 2006 and it hired Chang G. Park, CPA, Ph.D. as its new auditor. The filing says there were no disagreements with the former auditor and its report for the year ended January 31, 2006 had no adverse opinion.
