13 Aug 2008substantial holder notice● Neutral
William Tighe disclosed a new substantial TAMM Oil & Gas Corp. shareholding (27.00% of votes).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 Aug 2008director interest notice● Neutral
TAMM Oil & Gas Corp. insider Sean Dickenson sold 56,975,000 shares.
11 Aug 2008capital raising announcement▲ GoodMajor
Under a May 20, 2008 agreement with 1384482 Alberta Ltd., 1132559 Alberta Ltd. and certain 1132559 stockholders, former director Sean Dickenson returned 34,000,000 Tamm shares, which the transfer agent cancelled on August 6, 2008. Shares outstanding fell from 118,313,000 to 84,313,000. This is the share cancellation that was a condition of the earlier royalty deal, and it reduces the share count for existing holders.
11 Aug 2008director interest notice● Neutral
William Stewart Tighe became a TAMM Oil & Gas Corp. director and company insider (initial ownership filing).
2 July 2008material agreement termination● NeutralMajor
Effective July 1, 2008 Tamm signed termination and rescission agreements with the three DWOG shareholders (LB (Swiss) Private Bank, Arthur Sulzer, Rahn & Bodmer), reversing the December 2007 share swap as if it never happened; Tamm now owns no DWOG shares. The filing says Tamm moved its focus away from Sawn Lake, could not value the DWOG stake because DWOG did not disclose information, and was being sued by DWOG in Nevada federal court over an alleged illegal tender offer. Tamm says it keeps a 10% working interest in 63 Sawn Lake sections (795,472,000 barrels oil in place per its own engineer) and a 2% gross overriding royalty on 36.5 sections. This resolves the open question of what Tamm would do with its DWOG shares. The filing does not say whether the lawsuit has ended.
27 June 2008late filing notice▼ Bad
TAMM Oil & Gas Corp. notified the SEC that its annual report would be filed late.
24 June 2008director interest notice● Neutral
Gerald Malcolm Vikse became a TAMM Oil & Gas Corp. V.P. Operations and company insider (initial ownership filing).
3 June 2008material agreement▲ GoodMajor
On May 28, 2008 Tamm bought a 100% interest in 14 sections of Peace River oil sands petroleum and natural gas leases from the Alberta government at a Crown land sale, paying Cdn$372,721.36. The press release says this brings its land base to about 22,400 acres, a 66% increase, and that a Chapman Petroleum Engineering report put heavy oil in place on its earlier 21 sections at 1.4 billion barrels. This adds to the 21 sections bought in January 2008; the release itself notes the engineering report may not follow SEC disclosure guidelines.
14 Feb 2008late filing notice▼ Bad
TAMM Oil & Gas Corp. notified the SEC that its quarterly report would be filed late.
8 Feb 2008asset acquisition disposition● Neutral
The British Columbia well letter of intent (17% working interest) announced January 15, 2008 was cancelled by mutual agreement effective January 22, 2008. Tamm's funds paid toward the well were returned on February 8, 2008. This reverses that part of the January acquisition news; the Peace River leases are not mentioned as affected.
4 Feb 2008auditor change● Neutral
Tamm dismissed Squar Milner as its auditor effective January 30, 2008 and hired Stark Winter Schenkein & Co. The filing reports no disagreements; Squar Milner's report on the year ended March 31, 2007 included a going-concern paragraph.
18 Jan 2008capital raising announcement● Neutral
This amends the DWOG share exchange report to add detail: on December 28, 2007 Tamm issued 21,533,000 restricted shares (14,289,276 to LB (Swiss) Private Bank, 2,597,509 to Arthur Sulzer, 4,646,215 to Rahn & Bodmer). No cash changed hands, so Tamm received no proceeds, only DWOG shares.
15 Jan 2008asset acquisition disposition▲ GoodMajor
Tamm bought a 100% interest in 21 sections of oil sands leases in the Peace River area of Alberta from the Alberta government at a Crown land sale for US$715,292. It also signed a letter of intent for a 17% working interest in a well in northern British Columbia, for 20% of the drilling and casing costs. The press release claims 90 sections of leases and licences held directly and indirectly.
9 Jan 2008material agreement● NeutralMajor
Effective December 27, 2007, Tamm agreed to swap 21,533,000 of its own shares for 21,533,000 restricted shares of Deep Well Oil & Gas (DWOG) held by three shareholders (LB (Swiss) Private Bank, Arthur Sulzer, Rahn & Bodmer). This gives Tamm a stake in DWOG and issues many new Tamm shares, which dilutes existing holders.
9 Jan 2008material agreement▲ GoodMajor
Tamm reported a November 26, 2007 agreement to buy the royalty interests from Muzz and 1004731 Alberta: a 0.5% and 1.5% share of a 6.5% overriding royalty on four leased lands in Alberta. Payment is 1,500,000 restricted shares to Muzz and 2,500,000 to Alberta Ltd., subject to definitive agreements and due diligence. This formalises the November 7 letter agreement, and the filing does not say the deal has closed.
21 Dec 2007capital raising announcement▲ Good
Tamm closed the second tranche of its private placement on December 20, 2007: 400,000 units at US$1.25 for $500,000, each with a warrant exercisable at US$1.75 until December 20, 2009. With the first tranche, that is $1,500,000 raised across 1,200,000 units.
What it means for a shareholder
400,000 new shares at US$1.25 to raise about US$500,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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28 Nov 2007capital raising announcement▲ GoodMajor
Now named Tamm Oil and Gas, the company signed a November 7, 2007 letter agreement to acquire a royalty interest (Mikwec/Nearshore royalty agreement of December 12, 2003) from 1004731 Alberta Ltd. and Muzz Investments for 4,000,000 shares. Closing depends on a private placement of up to 2,600,000 units at $1.25, a 15:1 forward stock split, and the principal stockholder surrendering 34,000,000 shares for cancellation. It also closed the first tranche of that placement on November 23, 2007: 800,000 units at US$1.25 for $1,000,000, each with a warrant exercisable at US$1.75 until November 23, 2009.
17 Aug 2007capital raising announcement▲ Good
The company, now with a Calgary address, closed a private placement on August 10, 2007 of 100,000 shares at US$1.00 each, raising $100,000 from a non-U.S. investor.
What it means for a shareholder
100,000 new shares at US$1.00 to raise about US$100,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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2 July 2007late filing notice▼ Bad
TAMM Oil & Gas Corp. notified the SEC that its annual report would be filed late.
24 May 2007business combination● NeutralMajor
Hola Communications gave notice of a change in control: on May 3, 2007 founders Carlos Bustamante and Jose Carlos Davalos Cerda sold their 3,800,000 shares to Sean Dickenson for US$150,000. Dickenson became President, CEO, Secretary, Treasurer and a director, and the two sellers are to resign as directors. The company had 6,000,000 shares outstanding.
21 May 2007director interest notice● Neutral
Sean Dickenson became a TAMM Oil & Gas Corp. President Treasurer Secretary and company insider (initial ownership filing).
21 May 2007substantial holder notice● Neutral
Sean Dickenson disclosed a new substantial TAMM Oil & Gas Corp. shareholding (63.30% of votes).
16 Jan 2007auditor change● Neutral
This amends the December 2006 auditor notice by attaching the former auditor Peterson & Co.'s letter (dated January 4, 2007) as Exhibit 16.1. The earlier disclosures, including the going-concern doubt, are unchanged.
6 Dec 2006auditor change● Neutral
The company, then named Hola Communications and based in San Diego, said its auditor Peterson & Co. merged with another firm and that the combined firm, Squar, Milner, Peterson, Miranda & Williamson, becomes its auditor. The filing says there were no disagreements, and that Peterson's earlier reports included substantial doubt about the company's ability to continue as a going concern.
2 Oct 2006securities registration● Neutral
TAMM Oil & Gas Corp. filed the final prospectus for a registered offering.
29 Sept 2006securities registration● Neutral
TAMM Oil & Gas Corp. filed the final prospectus for a registered offering.
7 Sept 2006securities registration● Neutral
TAMM Oil & Gas Corp. registered a small-business securities offering with the SEC.
7 Sept 2006securities registration● Neutral
TAMM Oil & Gas Corp. amended a filing by which it registered a small-business securities offering with the SEC.