28 Nov 2005securities registration● Neutral
EDGE PETROLEUM CORP amended an already-effective registration statement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2005material agreement▲ GoodMajor
Edge agreed to pay about $62.8 million for a 44-50% working interest in the Chapman Ranch field in Nueces County, Texas, buying assets from Pearl Energy and Cibola Explorations and the whole of Cinco Energy from a group including Yorktown Energy Partners. Funded from the credit line, with a further $5.2 million payable if the field wins a severance-tax break.
1 July 2005securities registration● Neutral
EDGE PETROLEUM CORP amended an already-effective registration statement.
28 June 2005securities registration● Neutral
EDGE PETROLEUM CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
9 June 2005securities registration● Neutral
EDGE PETROLEUM CORP registered a securities offering with the SEC using its shelf eligibility.
4 May 2005material agreement● Neutral
Edge's board approved higher pay for outside directors from 1 May 2005: a $20,000 cash and $36,000 stock annual retainer, and $1,500 per meeting. It also changed the 2005 executive bonus targets, adding separate lease operating expense and G&A measures and excluding acquisitions from the finding-and-development cost measure. Bonuses range from 0% to 80% of base salary for Messrs. Long and Tugwell, and 0% to 100% for Mr. Elias. This is governance housekeeping and has no direct effect on the business.
6 Apr 2005material agreement● Neutral
Filed as a material agreement, this was really a pay round: 2004 bonuses and stock awards were set, and CFO Michael Long and COO John Tugwell were both promoted to executive vice president.
16 Mar 2005financial restatement▼ BadMajor
A spreadsheet that failed to cancel out an intercompany capital-spending accrual forced Edge to restate its September 2004 quarter and correct its full-year 2004 figures. The dollar effect was small and actually raised reported profit, but management conceded a material weakness in its own accounting controls.
14 Feb 2005substantial holder notice● Neutral
Wellington Management Company, LLP reported no remaining EDGE PETROLEUM CORP shareholding in its periodic institutional filing.
5 Jan 2005asset acquisition disposition▲ GoodMajor
Edge paid Contango Oil & Gas $43.2 million cash for 38 non-operated producing wells in Jim Hogg County, south Texas - its biggest property purchase to that point, in what became its core area.
21 Dec 2004substantial holder notice● Neutral
MARLIN CAPITAL CORP reported a EDGE PETROLEUM CORP shareholding of 950,700 shares (5.59% of votes) in a periodic institutional filing.
17 Dec 2004securities registration● Neutral
EDGE PETROLEUM CORP filed a prospectus supplement for an offering off its existing shelf.
10 Dec 2004securities registration● Neutral
EDGE PETROLEUM CORP filed a prospectus supplement for an offering off its existing shelf.
7 Dec 2004securities registration● Neutral
EDGE PETROLEUM CORP amended an already-effective registration statement.
30 June 2004auditor change▼ Bad
Edge's third auditor in three years: KPMG out, BDO Seidman in. KPMG's reports had been clean apart from routine notes on new accounting standards, but it pointedly declined to endorse Edge's account of how and when it was dismissed.
21 May 2004other● Neutral
Edge filed a $150 million universal shelf registration, letting it sell stock, preferred or debt at short notice. Management was explicit that no transaction was planned - this was about being ready, not raising money.
20 May 2004securities registration● Neutral
EDGE PETROLEUM CORP registered a securities offering with the SEC using its shelf eligibility.
8 Apr 2004substantial holder notice● Neutral
Mr. William Davidson, Guardian Industries Corp., Guardian Energy Management Corp. reported a EDGE PETROLEUM CORP shareholding of 1,090,404 shares (8.00% of votes) in a periodic institutional filing.
15 Mar 2004securities registration● Neutral
EDGE PETROLEUM CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
17 Feb 2004asset acquisition disposition● Neutral
This amendment adds the financial statements and pro forma figures for the Miller Exploration purchase that closed on 4 December 2003. Each Miller share became 1.22342 Edge shares, 2,604,757 Edge shares were issued in total, and Edge also took on Miller options and warrants over 149,869 and 1,101,078 Edge shares. The filing puts the cost at a preliminary $15.5 million ($14.3 million of Edge stock plus $1.2 million of deal costs), higher than the $12.7 million figure used when the deal was agreed. It estimates about $819,000 of one-time integration costs.
3 Feb 2004securities registration● Neutral
EDGE PETROLEUM CORP registered a securities offering with the SEC using its shelf eligibility.
29 Jan 2004substantial holder notice● Neutral
MR. WILLIAM DAVIDSON, GUARDIAN INDUSTRIES CORP., GUARDIAN ENERGY MANAGEMENT CORP. disclosed a new substantial EDGE PETROLEUM CORP shareholding (9.40% of votes).
8 Jan 2004substantial holder notice● Neutral
MARLIN CAPITAL CORP. TAX ID NO disclosed a new substantial EDGE PETROLEUM CORP shareholding (7.02% of votes).
8 Jan 2004substantial holder notice● Neutral
MARLIN CAPITAL CORP. TAX ID NO disclosed a new substantial EDGE PETROLEUM CORP shareholding (7.02% of votes).
11 Dec 2003asset acquisition disposition▲ GoodMajor
The Miller Exploration purchase closed on 4 December 2003, six months after it was agreed, with Miller becoming a wholly owned Edge subsidiary. Shareholders at the same meeting lifted the incentive-plan share reserve from 1.2 to 1.7 million shares.
4 Dec 2003securities registration● Neutral
EDGE PETROLEUM CORP amended an already-effective registration statement.
24 Nov 2003substantial holder notice● Neutral
MARLIN CAPITAL CORP reported a EDGE PETROLEUM CORP shareholding of 941,000 shares (9.85% of votes) in a periodic institutional filing.
31 Oct 2003business combination● Neutral
Edge's third amendment to the Miller merger filing moves both shareholder meetings from 1 December to 4 December 2003. It updates the expected Edge share count after the deal to about 12,148,666, with the issuance to Miller holders unchanged at about 2,597,475 shares. The terms are otherwise as in the prior amendment.
31 Oct 2003securities registration● Neutral
EDGE PETROLEUM CORP filed the final prospectus for a registered offering.
17 Oct 2003business combination● Neutral
Edge's second amendment to the Miller merger filing sets both shareholder meetings for 1 December 2003 and fixes a record date of 6 October. It puts the share issuance at about 2,597,475 new Edge shares (maximum 2,767,801), for roughly 12.13 million Edge shares outstanding after the deal. It also discloses Miller insiders' special interests, including retention bonuses of $160,000 in total. The committed Miller vote is about 50.2%, falling to about 32% if Miller's board changes its recommendation and Guardian Energy Management Corp. is no longer bound to vote in favour.