8 Feb 2007director interest notice● Neutral
Michael S Studdard became a Wentworth Energy, Inc. President and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Feb 2007director interest notice● Neutral
George D Barnes became a Wentworth Energy, Inc. Vice President of Operations and company insider (initial ownership filing).
1 Feb 2007director interest notice● Neutral
Tom J Temples became a Wentworth Energy, Inc. VP of Exploration & Production and company insider (initial ownership filing).
1 Feb 2007director interest notice● Neutral
Gordon Campbell Mcdougall became a Wentworth Energy, Inc. director and company insider (initial ownership filing).
1 Feb 2007director interest notice● Neutral
Francis K Ling became a Wentworth Energy, Inc. Chief Financial Officer and company insider (initial ownership filing).
1 Feb 2007director interest notice● Neutral
Wentworth Energy, Inc. insider Daniel Marvin Leonard sold 1,000 shares at $1.23.
1 Feb 2007director interest notice● Neutral
Daniel Marvin Leonard became a Wentworth Energy, Inc. company insider (initial ownership filing).
1 Feb 2007director interest notice● Neutral
John Punzo became a Wentworth Energy, Inc. Chief Executive Officer and company insider (initial ownership filing).
31 Jan 2007director interest notice● Neutral
Wentworth Energy, Inc. insider Daniel Marvin Leonard sold 1,500 shares at $1.17.
26 Jan 2007director interest notice● Neutral
Wentworth Energy, Inc. insider Daniel Marvin Leonard sold 3,000 shares.
16 Jan 2007director interest notice● Neutral
Wentworth Energy, Inc. director Roger Dale Williams bought 24,900 shares on the open market at $1.20.
16 Jan 2007director interest notice● Neutral
Wentworth Energy, Inc. insider Daniel Marvin Leonard disposed of 551,620 shares via option/appreciation-right settlement.
21 Dec 2006securities registration● Neutral
Wentworth Energy, Inc. amended a filing by which it registered a small-business securities offering with the SEC.
21 Dec 2006director interest notice● Neutral
Wentworth Energy, Inc. director Roger Dale Williams bought 286,300 shares on the open market.
20 Dec 2006financial restatement▼ BadMajor
On December 13, 2006 Wentworth concluded its 2005 annual accounts and five quarterly reports (June 2005 to September 2006) should not be relied on because of accounting errors. They include $612,095 more stock option expense for 2005, a $189,000 well-plugging obligation added, and an $8,100 depletion expense reversed; restated filings were expected the same day. The company's address is now Palestine, Texas.
19 Dec 2006director interest notice● Neutral
Wentworth Energy, Inc. director Gordon Campbell Mcdougall gifted 1,300,000 shares.
14 Dec 2006director interest notice● Neutral
Wentworth Energy, Inc. director Roger Dale Williams bought 40,000 shares on the open market at $40000.00.
17 Nov 2006director interest notice● Neutral
Neil Lande became a Wentworth Energy, Inc. director and company insider (initial ownership filing).
14 Nov 2006late filing notice▼ Bad
Wentworth Energy, Inc. notified the SEC that its quarterly report would be filed late.
7 Nov 2006material agreement▲ GoodMajor
On November 1, 2006 Wentworth signed a three-year lease and a joint operating agreement with Marathon Oil to explore about 9,000 acres of its Freestone County, Texas mineral block (the Ball minerals bought in July). Wentworth gets a 21.5% royalty on deep production and 23% on upper zones (above 8,500 feet) with a 50/50 drilling partnership there, and Barnico Drilling will be drilling contractor on upper wells. This is the first reported development of the Ball properties after the July purchase.
5 Oct 2006director interest notice● Neutral
Wentworth Energy, Inc. Chief Financial Officer Francis K Ling exercised stock options for 54,000 shares and disposed of 54,000 shares.
26 Sept 2006asset acquisition disposition● Neutral
This amendment to the August 2 report on the July 26, 2006 Barnico Drilling purchase (2,500,000 shares and $5,000,000 cash) adds Barnico's financial statements and pro forma statements. Barnico had drilling revenue of $3,134,753 and net income of $229,178 for the six months to June 30, 2006, against a net loss of $120,705 for 2005 on revenue of $7,543,471. This satisfies the open item on Barnico financials; the filing also repeats that George Barnes became a director on August 21, 2006 with 2,350,000 options at $1.50.
22 Sept 2006asset acquisition disposition● Neutral
This amendment adds Wentworth Oil & Gas's unaudited March 31, 2005 financials and pro forma statements, and corrects the exchange date to May 12, 2005 (the June 1 filing said June 1). It also states that after 180,000 more shares on August 4, 2005, Wentworth held 97.79% of Oil & Gas, with 540,000 shares still exchangeable. For the quarter, Oil & Gas had no revenue and a loss of $103,553, with a deficit of $249,859 and liabilities exceeding assets.
24 Aug 2006securities registration● Neutral
Wentworth Energy, Inc. registered a small-business securities offering with the SEC.
21 Aug 2006director interest notice● Neutral
George D Barnes became a Wentworth Energy, Inc. Vice President of Operations and company insider (initial ownership filing).
21 Aug 2006director interest notice● Neutral
Michael S Studdard became a Wentworth Energy, Inc. President and company insider (initial ownership filing).
21 Aug 2006director interest notice● Neutral
Tom J Temples became a Wentworth Energy, Inc. VP of Exploration & Production and company insider (initial ownership filing).
14 Aug 2006late filing notice▼ Bad
Wentworth Energy, Inc. notified the SEC that its quarterly report would be filed late.
2 Aug 2006asset acquisition disposition● NeutralMajor
On July 26, 2006 Wentworth completed buying 90% of the P.D.C. Ball Limited Partnership mineral and royalty estate (Texas land, minerals, royalties and leases) for $17,660,000 cash and 1,500,000 restricted shares issued to Roboco Energy, Inc. Roboco keeps 10% and a 3% overriding royalty. Michael Studdard (executive officer and director) and Tom Temples (executive officer) get consulting deals of $120,000 in year one, then $180,000 a year for two years, plus $27,000 a year, and 2,350,000 options each at $1.50. The deal was funded by the July financing.
2 Aug 2006asset acquisition disposition● NeutralMajor
On July 26, 2006 Wentworth completed buying 100% of Barnico Drilling, Inc. from George Barnes under a March 26, 2006 agreement, for 2,500,000 shares and $5,000,000 cash, after securing the $32,350,000 financing on July 25. Barnico's shareholders get a 2% overriding royalty on new production revenue from the division Barnes heads. Barnes becomes a director and consultant ($120,000 in year one, then $180,000 a year for two years, plus $27,000 a year) with 2,350,000 options at $1.50. This resolves the pending deal and uses the new financing.