13 Aug 2010quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $736 thousand for the period ended 2010-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Aug 2010material agreement▲ Good
Tengasco's credit facility was reassigned again, from Sovereign Bank to F&M Bank & Trust of Dallas, which raised the borrowing base to $14 million on improved terms and extended the maturity to January 2012.
15 July 2009debt financing● Neutral
Sovereign Bank's semiannual review raised Tengasco's borrowing base slightly to $11 million, though it is set to step back down to $10.25 million by early 2010 -- a sign of tightening credit terms as oil prices remained weak after the 2008-09 crash.
10 Sept 2008asset acquisition disposition● Neutral
Routine follow-up filing adding the required pro forma financial statements for the Black Diamond acquisition; no change to the deal's terms.
2 July 2008asset acquisition disposition▲ GoodMajor
Tengasco closed the Black Diamond acquisition (the 'Riffe field'), adding producing wells and equipment in Rooks County, Kansas, funded mainly through the recently expanded Sovereign Bank credit line.
2 June 2008debt financing▲ GoodMajor
Tengasco agreed to buy Black Diamond Oil's Rooks County, Kansas oil-producing properties for $5.35 million, and Sovereign Bank raised its borrowing base from $7 million to $11 million to help fund the deal.
21 Dec 2007debt financing▲ Good
Tengasco's credit facility was reassigned from Citibank to Sovereign Bank of Dallas, which raised the borrowing base from $3.3 million to $7 million; the company drew $4.2 million to pay off the Citibank balance.
21 Sept 2007material agreement▲ Good
Tengasco signed a second Hoactzin-funded drilling program, this time for ten Kansas wells, with Hoactzin paying $400,000 per productive well and $250,000 per dry hole (total $2.5-4 million) -- continuing the same funding partnership from 2005.
24 Apr 2007debt financing● Neutral
Tengasco borrowed an additional $700,000 under its Citibank facility after the bank raised its borrowing base to $3.3 million, fully drawing the line.
5 July 2006debt financing▲ GoodMajor
Tengasco entered a new $50 million revolving credit facility with Citibank Texas, replacing its reliance on related-party Dolphin financing with a conventional bank line secured by its oil and gas properties; initial draw was $2.6 million.
5 Oct 2005material agreement termination● Neutral
Tengasco brought in Hoactzin Partners to fund a 12-well Kansas drilling program; in exchange, Hoactzin surrendered $2.514 million of the company's promissory notes (previously assigned to it) tied to the earlier Dolphin-financed preferred-stock buybacks, extinguishing that obligation.
24 Aug 2005capital raising announcement● NeutralMajor
Tengasco retired all of its Series B and C preferred stock, a total of $5,113,045.39 in face value plus accrued dividends and interest, by letting holders choose cash or common stock. Holders of about 54.3% took cash totalling $1,814,184.30, funded mainly by a new $1,814,000 loan from Dolphin Offshore Partners (12% interest, secured on company assets, due 2005-12-31). The rest, including Dolphin, took 9,567,620 new common shares, of which 4,595,040 go to Dolphin, so common shareholders are diluted and Dolphin's stake and lending exposure both grow. The same filing extends Dolphin's existing $700,000 note from 2005-08-20 to 2005-12-31 on the same terms, continuing the company's reliance on Dolphin.
6 June 2005auditor change● Neutral
Tengasco dismissed BDO Seidman as its auditor after a competitive review, with no disagreements over accounting.
9 Mar 2005asset acquisition disposition● Neutral
Tengasco sold its Rush County, Kansas gas-producing properties to Bear Petroleum for $2.4 million, using the proceeds to pay down its note to related-party lender Dolphin Offshore Partners from $2.5 million to $150,000.
12 Nov 2004late filing notice▼ Bad
Riley Exploration Permian, Inc. notified the SEC that its quarterly report would be filed late.
13 Aug 2004late filing notice▼ Bad
Riley Exploration Permian, Inc. notified the SEC that its quarterly report would be filed late.
17 May 2004late filing notice▼ Bad
Riley Exploration Permian, Inc. notified the SEC that its quarterly report would be filed late.
16 Apr 2004substantial holder notice● Neutral
Peter E. Salas, individually and as General Partner of Dolphin Offshore Partners disclosed a new substantial Riley Exploration Permian, Inc. shareholding (33.90% of votes).
5 Apr 2004director interest notice● Neutral
Riley Exploration Permian, Inc. director Stephen W Akos sold 48,868 shares at $0.47.
26 Feb 2004director interest notice● Neutral
Riley Exploration Permian, Inc. CEO Richard T Williams exercised stock options for 50,000 shares.
23 Feb 2004director interest notice● Neutral
Riley Exploration Permian, Inc. director Robert L Devereux exercised stock options for 24,000 shares.
23 Feb 2004director interest notice● Neutral
Riley Exploration Permian, Inc. director Stephen W Akos exercised stock options for 24,000 shares and disposed of 15,000 shares.
18 Feb 2004director interest notice● Neutral
Riley Exploration Permian, Inc. director John A Clendening bought 1,000 shares on the open market at $1.09.
18 Feb 2004securities registration● Neutral
Riley Exploration Permian, Inc. filed the final prospectus for a registered offering.
13 Feb 2004securities registration● Neutral
Riley Exploration Permian, Inc. amended a filing by which it registered a securities offering with the SEC.
11 Feb 2004securities registration● Neutral
Riley Exploration Permian, Inc. amended a filing by which it registered a securities offering with the SEC.
30 Jan 2004director interest notice● Neutral
Riley Exploration Permian, Inc. Treasurer Sheila F Sloan exercised stock options for 8,000 shares and disposed of 8,000 shares.
28 Jan 2004director interest notice● Neutral
Riley Exploration Permian, Inc. director Charles M Stivers disposed of 24,000 shares via option/appreciation-right settlement.
27 Jan 2004director interest notice● Neutral
Riley Exploration Permian, Inc. President Tengasco Pipeline Robert M Carter disposed of 12,000 shares via option/appreciation-right settlement.
21 Jan 2004director interest notice● Neutral
Riley Exploration Permian, Inc. director Peter E Salas exercised stock options for 24,000 shares.