Past year: ▲ 58%(3.92 – 7.42 USD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Aug 2002asset acquisition disposition▲ Good
Tipperary corrected the pro forma numbers for the May 2002 Delta deal: instead of the $1.297 million loss estimated in June, it now records a $766,000 gain on the West Buna sale in the June 2002 quarter, because it revised its estimate of the value of the unproved US properties it kept. The Comet Ridge purchase is now shown at $5.55 million including about $300,000 of assumed liabilities. The deal terms themselves are unchanged.
10 June 2002asset acquisition disposition● NeutralMajor
On May 24, 2002 Tipperary sold its West Buna field interests in Texas to Delta Petroleum for $4.1 million cash and bought Delta's 5% interest in the Comet Ridge project (ATP 526, Queensland, Australia) for $5.25 million ($4.8 million cash plus 250,000 unregistered shares valued at $450,000). This lifts its capital-bearing interest in Comet Ridge to 70%. The filing says West Buna was its only remaining domestic producing asset, and the company also gets an option on interests in six other ATPs with no proved reserves and agrees to assume up to $600,000 of Delta's obligations. The company's pro forma figures at this point showed an expected $1.297 million loss on the sale.
