Past year: ▲ 28%(6.77 – 12.49 USD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Aug 2005material agreement● Neutral
Venoco appointed Mark DePuy as Vice President, Northern Assets, replacing Greg Schrage, who became Vice President of Asset Development. DePuy gets a $165,000 base salary, a $50,000 signing bonus and options on 25 shares at $90,000 to $100,000 per share, on terms like the other officers' May 2005 agreements.
9 May 2005material agreement● Neutral
Venoco signed employment agreements, effective March 1, 2005, with five officers: CEO Timothy Marquez ($366,000 base salary), CFO David Christofferson ($216,000), Greg Schrage ($175,000), Roger Hamson ($162,000) and General Counsel Terry Anderson ($208,000). Marquez gets three times salary and bonus on a change-of-control termination, and the other four officers get option grants (73 shares for the CFO, 35 each for the other three) at exercise prices of $45,000 to $65,000 per share.
20 Apr 2005business combination● Neutral
Venoco amended its exchange-offer filing for the $150 million 8.75% Senior Notes due 2011, setting an expiry of May 27, 2005 (unless extended) and adding Marquez Energy, LLC as a further subsidiary guarantor. This continues the note-registration process started on March 31; the terms are otherwise unchanged and Venoco gets no cash from it.
31 Mar 2005business combination● Neutral
Venoco filed to let holders swap up to $150 million of its unregistered 8.75% Senior Notes due 2011 (issued December 20, 2004) for identical notes registered with the SEC. The company receives no cash from the swap; the filing also describes an acquisition of Marquez Energy and the sale of Big Mineral Creek after year-end 2004, and says Venoco is a California-focused producer with 51.6 MMBOE of proved reserves at December 31, 2004.
