1 Feb 2013quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $149 thousand for the period ended 2012-12-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Nov 2012quarterly activities report● Neutral
T-REX OIL, INC. reported a quarterly net income of $122 thousand for the period ended 2012-09-30.
18 Oct 2012quarterly activities report● Neutral
T-REX OIL, INC. reported a quarterly net income of $122 thousand for the period ended 2012-09-30.
20 Sept 2012bankruptcy or receivership● Neutral
This amendment to the September 2012 plan-approval report corrects only the expected share count: about 119,863,049 shares outstanding after the plan and the warrant-holder share issuance, instead of the 173,949,288 first stated. All other plan terms are unchanged.
18 Sept 2012bankruptcy or receivership▲ GoodMajor
On September 10, 2012 the court approved Rancher's Second Amended Plan of Reorganization, effective October 10, 2012. Creditors are paid from company cash in priority order; common stockholders' rights are otherwise unimpaired and they receive funds only if what remains after creditors is under $2.0 million. Warrants over 54,632,565 shares are cancelled for about 546,326 new shares, $140,000 of officer/director notes may convert at $0.02 per share, and the board expects to continue in oil and gas after paying creditors. The filing states a post-plan share count of about 173.9 million, which was corrected two days later. This resolves the long-open plan confirmation, and the common shares are retained.
20 Aug 2012quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $79 thousand for the period ended 2012-06-30.
14 Aug 2012late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its quarterly report would be filed late.
29 June 2012late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its annual report would be filed late.
28 June 2012bankruptcy or receivership● NeutralMajor
On June 19, 2012 Rancher asked the bankruptcy court to approve a settlement of its lawsuit against GasRock (the lender whose 10% net profits interest and 1% overriding royalty it had challenged), also involving Linc Energy. If approved, Rancher would get $525,000 plus its litigation costs from Linc, give up its claim to the escrow funds from the Linc asset sale, convey the disputed net profits interest to Linc, dismiss the suit, and be released from GasRock's legal-fee claim. This is the move toward resolving the GasRock dispute; it still needs court approval.
21 Feb 2012quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $334 thousand for the period ended 2011-12-31.
14 Feb 2012late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its quarterly report would be filed late.
9 Feb 2012auditor change● Neutral
On February 3, 2012 Rancher's board dismissed auditor Hein and Associates LLP and appointed Borgers & Cutler CPA's PLLC; the company has no audit committee. Hein's reports for fiscal 2010 and 2011 included a going-concern paragraph, and the filing states there were no disagreements with Hein.
6 Feb 2012substantial holder notice● Neutral
Hound Partners, LLC, Hound Performance, LLC, Jonathan Auerbach, Hound Partners, LP, Hound Partners Offshore Fund, LP reported a T-REX OIL, INC. shareholding of 10,561,797 shares (8.85% of votes) in a periodic institutional filing.
21 Nov 2011quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $345 thousand for the period ended 2011-09-30.
14 Nov 2011late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its quarterly report would be filed late.
19 Aug 2011quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $244 thousand for the period ended 2011-06-30.
16 Aug 2011late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its quarterly report would be filed late.
28 June 2011late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its annual report would be filed late.
21 Mar 2011asset acquisition disposition● NeutralMajor
On March 16, 2011 Rancher closed the sale of substantially all its assets to Linc Energy Petroleum (Wyoming) for $20 million cash plus up to $825,000 of possible future consideration. Funds were primarily used to repay the debtor-in-possession loan. This completes the sale approved in February; the plan of reorganization remains to be confirmed.
3 Mar 2011bankruptcy or receivership● NeutralMajor
On February 24, 2011 the court approved the sale of substantially all of Rancher's assets to Linc Energy Petroleum (Wyoming) under an agreement dated December 20, 2010, for $20 million cash plus up to $825,000 of possible future consideration. Proceeds are to repay the roughly $14,826,000 Linc debtor-in-possession loan, leaving mainly cash, certain contracts and operator bond deposits; the plan still has to be confirmed and creditors paid, and no common stock is issued in the sale. The filing does not say what shareholders will receive.
18 Feb 2011quarterly activities report▼ Bad
T-REX OIL, INC. reported a quarterly net loss of $1.4 million for the period ended 2010-12-31.
11 Feb 2011late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its quarterly report would be filed late.
3 Feb 2011bankruptcy or receivership● NeutralMajor
On January 26, 2011 the bankruptcy court approved debtor-in-possession financing of up to $14,700,000 from Linc Energy, which closed on January 28. It is mainly to pay off the GasRock debt of $13,653,698 in full, is secured by first-priority liens on all of Rancher's assets, bears interest at the base rate, and matures 120 days after court approval. This resolves the GasRock loan thread by replacing it with new secured debt.
15 Dec 2010bankruptcy or receivership● Neutral
On December 13, 2010 Rancher filed a First Amended Plan of Reorganization and disclosure statement with the bankruptcy court. The filing does not describe the changes from the October plan, and the plan is unconfirmed and still subject to creditor votes and court approval.
19 Nov 2010quarterly activities report● Neutral
T-REX OIL, INC. reported a quarterly net income of $2.0 million for the period ended 2010-09-30.
17 Nov 2010quarterly activities report● Neutral
T-REX OIL, INC. reported a quarterly net income of $2.0 million for the period ended 2010-09-30.
15 Nov 2010late filing notice▼ Bad
T-REX OIL, INC. notified the SEC that its quarterly report would be filed late.
21 Oct 2010bankruptcy or receivership▼ BadMajor
On October 15, 2010 Rancher filed a proposed reorganization plan under which BWAB Oil & Gas Investments would invest $12 million for 12 million shares of new preferred stock, which would convert into 70% or 80% of the fully diluted common stock depending on recoveries in the GasRock litigation. Existing common stock would undergo a 15-for-1 reverse split, warrants would be cancelled for 1 share per 25 warrant shares (pre-split), and $11.8 million would repay GasRock. The plan is unconfirmed and subject to change, so current shareholders' outcome would be heavy dilution if it goes ahead.
19 Aug 2010substantial holder notice● Neutral
ANDREW P. VANDER PLOEG disclosed a new substantial T-REX OIL, INC. shareholding (5.90% of votes).
19 Aug 2010substantial holder notice● Neutral
ANDREW P. VANDER PLOEG disclosed a new substantial T-REX OIL, INC. shareholding (5.90% of votes).