16 Oct 2012material agreement● Neutral
Former Tunisian finance minister Jaloul Ayed joined Sky's advisory board for $15,000 a year and 200,000 shares - more name-recognition hiring at a company that by now had no revenue.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Aug 2012quarterly activities report▼ Bad
SKY PETROLEUM, INC. reported a quarterly net loss of $340 thousand for the period ended 2012-06-30.
15 Aug 2012late filing notice▼ Bad
SKY PETROLEUM, INC. notified the SEC that its quarterly report would be filed late.
14 Aug 2012director interest notice● Neutral
Mark Rachovides became a SKY PETROLEUM, INC. director and company insider (initial ownership filing).
14 Aug 2012director interest notice● Neutral
SKY PETROLEUM, INC. director Mark Rachovides received a stock option grant for 300,000 shares.
8 Aug 2012director officer appointment▲ Good
Mark Rachovides, an Eastern Europe mining specialist and former European Bank for Reconstruction and Development banker, joined the board with 300,000 options at $0.25 - relevant experience for the Albanian licences, and he would shortly become one of Sky's lenders.
9 July 2012director officer appointment▼ BadMajor
Tobias Gondorf quit as interim chief executive after seven months, explicitly over disagreements with the board about strategy, and his consultancy's contract went with him.
29 June 2012security holder rights change▼ BadMajor
Sky ordered its transfer agent to freeze the shares it had issued to Orsett Ventures for finding the Albanian licences - no transfers, no conversions, no removal of restrictive legends. The consultant who delivered Sky's only asset was now in dispute with it.
14 June 2012director interest notice● Neutral
SKY PETROLEUM, INC. director Karim Jobanputra bought 375,700 shares on the open market at $0.16.
23 May 2012director interest notice● Neutral
SKY PETROLEUM, INC. director Karim Jobanputra bought 6,165,000 shares on the open market.
16 May 2012capital raising announcement▼ BadMajor
A further $500,000 came in on the same terms, again from an insider: OceanRidge Investments, controlled by a director and former chief executive. Sky was now essentially being funded by its own board.
15 May 2012quarterly activities report▼ Bad
SKY PETROLEUM, INC. reported a quarterly net loss of $669 thousand for the period ended 2012-03-31.
20 Jan 2012capital raising announcement▼ BadMajor
Only $1 million of the $2 million sought was placed, at $0.25 with warrants, and one of the buyers was Sky's own former chief executive - outside money was getting hard to find.
5 Jan 2012director interest notice● Neutral
SKY PETROLEUM, INC. Interim CEO Tobias Gondorf received 100,000 shares and a 400,000-share option grant as part of the equity award.
14 Dec 2011director interest notice● Neutral
Tobias Gondorf became a SKY PETROLEUM, INC. Interim CEO and company insider (initial ownership filing).
28 Nov 2011director officer appointment● NeutralMajor
Karim Jobanputra handed the chief executive role to Tobias Gondorf, an investment banker supplied through consultancy ETDDM rather than employed directly, and stayed on the board. Sky's fifth leader, hired to raise money for Albania rather than to run an oil business.
14 Nov 2011quarterly activities report▼ Bad
SKY PETROLEUM, INC. reported a quarterly net loss of $291 thousand for the period ended 2011-09-30.
27 Oct 2011director interest notice● Neutral
SKY PETROLEUM, INC. Chief Executive Officer Karim Jobanputra bought 53,100 shares on the open market.
18 Oct 2011capital raising announcement▼ BadMajor
Sky went back to the market for $2 million at $0.25 a unit with warrants attached - a quarter of the $1.00 price of its 2005 raise, showing what six years and one dead field had done to the stock.
28 Sept 2011director interest notice● Neutral
SKY PETROLEUM, INC. Vice President, Corporate Michael David Noonan bought 887 shares on the open market at $0.25.
23 Sept 2011director interest notice● Neutral
SKY PETROLEUM, INC. Vice President, Corporate Michael David Noonan bought 100,000 shares on the open market.
29 Aug 2011quarterly activities report▼ Bad
SKY PETROLEUM, INC. reported a quarterly net loss of $338 thousand for the period ended 2011-06-30.
16 Aug 2011director interest notice● Neutral
SKY PETROLEUM, INC. Vice President, Corporate Michael David Noonan bought 3,300 shares on the open market.
15 Aug 2011quarterly activities report▼ Bad
SKY PETROLEUM, INC. reported a quarterly net loss of $338 thousand for the period ended 2011-06-30.
12 Aug 2011debt financing● NeutralMajor
Sky borrowed $1.5 million from Texas Citizens Bank purely to back the performance guarantee Albania required, and had to keep 105% of that in cash at the bank - so the loan bought no drilling, only the right to keep the licences. Its first work programme commitment was now legally enforceable.
5 July 2011director interest notice● Neutral
SKY PETROLEUM, INC. Vice President, Corporate Michael David Noonan bought 1,700 shares on the open market at $0.30.
16 June 2011director interest notice● Neutral
SKY PETROLEUM, INC. Chief Executive Officer Karim Jobanputra bought 31,100 shares on the open market.
15 June 2011director interest notice● Neutral
SKY PETROLEUM, INC. Vice President, Corporate Michael David Noonan bought 5,000 shares on the open market at $0.30.
19 May 2011director interest notice● Neutral
SKY PETROLEUM, INC. Vice President, Corporate Michael David Noonan bought 5,000 shares on the open market at $0.49.
17 May 2011director interest notice● Neutral
SKY PETROLEUM, INC. Chief Executive Officer Karim Jobanputra bought 59,700 shares on the open market.