29 May 2009director interest notice● Neutral
Karim Jobanputra became a SKY PETROLEUM, INC. director and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 May 2009director interest notice● Neutral
SKY PETROLEUM, INC. director Karim Jobanputra received a stock option grant for 200,000 shares.
29 May 2009substantial holder notice● Neutral
Karim Jobanputra disclosed a new substantial SKY PETROLEUM, INC. shareholding (15.88% of votes).
1 Apr 2008late filing notice▼ Bad
SKY PETROLEUM, INC. notified the SEC that its annual report would be filed late.
4 Mar 2008material agreement● Neutral
Sky retained ESG Dubai for technical advice at $5,000 a month - a related-party arrangement, since Sky director Ian Baron owns ESG.
20 Dec 2007financial restatement▼ BadMajor
A second restatement in seven months: the 2006 accounts and the first two quarters of 2007 also could not be relied on, this time over how Sky recognised revenue, calculated depletion and accounted for cancelled options. Two restatements and three auditors inside a year point to accounting that was never properly built.
12 Dec 2007auditor change● Neutral
Texas firm Whitley Penn was engaged as auditor, bringing the audit back to Sky's Austin base after the failed Dubai experiment.
15 Nov 2007late filing notice▼ Bad
SKY PETROLEUM, INC. notified the SEC that its quarterly report would be filed late.
17 Oct 2007auditor change▼ Bad
BDO's Dubai firm resigned as auditor after a single audit, seven months into the job - the third change of auditor in twelve months.
12 Sept 2007director officer appointment▼ BadMajor
Leadership churned again - Michael Noonan stepped down as caretaker chief executive after Kinney's departure and director Karim Jobanputra took the job, while Noonan stayed on as VP corporate on $10,000 a month to July 2008. Sky's fourth chief executive in just over two years.
15 Aug 2007late filing notice▼ Bad
SKY PETROLEUM, INC. notified the SEC that its quarterly report would be filed late.
16 May 2007late filing notice▼ Bad
SKY PETROLEUM, INC. notified the SEC that its quarterly report would be filed late.
16 May 2007financial restatement▼ BadMajor
Sky told investors not to rely on its audited 2005 accounts or any 2005-2006 quarterly figures: shares issued to Paraskevi Investment for work on the Mubarek deal had been wrongly expensed rather than capitalised, alongside other valuation errors. The first sign that Sky's reporting was not keeping up with its deal-making.
3 Apr 2007late filing notice▼ Bad
SKY PETROLEUM, INC. notified the SEC that its annual report would be filed late.
6 Mar 2007auditor change● Neutral
BDO Patel and Al Saleh finally cleared US registration and took over as auditor from March 2007, ending Beckstead and Watts' stop-gap return.
7 Feb 2007director officer appointment● Neutral
With no permanent finance chief since Screaton's exit, Sky rented one: outsourcing firm vcfo was engaged at $165 an hour and its Mike Churchill became chief financial officer - a thin arrangement for a company holding tens of millions of shareholder money.
1 Feb 2007substantial holder notice● Neutral
Metage Capital Limited reported a SKY PETROLEUM, INC. shareholding of 1,786,671 shares (7.65% of votes) in a periodic institutional filing.
7 Dec 2006securities registration● Neutral
SKY PETROLEUM, INC. filed the final prospectus for a registered offering.
7 Dec 2006securities registration● Neutral
SKY PETROLEUM, INC. filed the final prospectus for a registered offering.
15 Nov 2006late filing notice▼ Bad
SKY PETROLEUM, INC. notified the SEC that its quarterly report would be filed late.
8 Nov 2006auditor change▼ Bad
The auditor switch stalled: BDO's Dubai firm was not yet registered with the US accounting regulator, so Beckstead and Watts was brought back temporarily to review the third-quarter accounts.
29 Sept 2006auditor change● Neutral
Sky dropped its small Nevada auditor, Beckstead and Watts - whose 2004 opinion had questioned whether the company could survive - and hired BDO Patel and Al Saleh of Dubai, moving its audit next to the UAE assets.
15 Sept 2006securities registration● Neutral
SKY PETROLEUM, INC. filed the final prospectus for a registered offering.
11 Sept 2006securities registration● Neutral
SKY PETROLEUM, INC. filed the final prospectus for a registered offering.
6 Sept 2006securities registration● Neutral
SKY PETROLEUM, INC. filed the final prospectus for a registered offering.
29 Aug 2006securities registration● Neutral
SKY PETROLEUM, INC. amended a filing by which it registered a securities offering with the SEC.
15 Aug 2006late filing notice▼ Bad
SKY PETROLEUM, INC. amended its notice to the SEC that its quarterly report would be filed late.
15 Aug 2006late filing notice▼ Bad
SKY PETROLEUM, INC. notified the SEC that its quarterly report would be filed late.
1 Aug 2006agm notice● Neutral
Sky finally held its annual meeting at the second attempt - the June sitting was adjourned for want of a quorum, and even in July only 40% of the shares voted. Directors including Kinney, Meyer, Jobanputra, Baron, Cockcroft, McCue and Noonan were elected.
1 Aug 2006securities registration● Neutral
SKY PETROLEUM, INC. amended a filing by which it registered a securities offering with the SEC.