3 Nov 2009director interest notice● Neutral
Erin Energy Corp. CEO, President & Secretary Frank C Ingriselli sold 50,000 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Nov 2009listing compliance notice● Neutral
This is a paper-filed Form CERTPAC, and the document text is only an auto-generated placeholder pointing to a paper original (control number 09012607). It carries no readable substance, so nothing can be said about what it covers or what it means for shareholders. The 'listing compliance notice' label is not supported by the text available.
8 Oct 2009drilling progress report▲ GoodMajor
On Oct 8, 2009 the company said it began drilling the first well in a multi-well program on its 100%-owned Zijinshan gas asset in Shanxi Province, China. This follows the May 2009 statement that the first well was expected in the second half of 2009, so that timing was met. The filing gives no results, cost or production figures.
7 Oct 2009director interest notice● Neutral
Erin Energy Corp. CFO, VP Stephen F Groth gifted 8,000 shares.
18 Aug 2009director interest notice● Neutral
Erin Energy Corp. CEO, President & Secretary Frank C Ingriselli gifted 50,000 shares.
18 Aug 2009director interest notice● Neutral
Erin Energy Corp. CFO, VP Stephen F Groth sold 10,000 shares.
6 Aug 2009director interest notice● Neutral
Erin Energy Corp. director Robert C Stempel received 26,549 shares as part of the equity award.
6 Aug 2009director interest notice● Neutral
Erin Energy Corp. director Elizabeth P Smith received 26,549 shares as part of the equity award.
6 Aug 2009director interest notice● Neutral
Erin Energy Corp. director James F. Link Jr. received 26,549 shares as part of the equity award.
6 Aug 2009director interest notice● Neutral
Erin Energy Corp. director William Dozier received 26,549 shares as part of the equity award.
6 Aug 2009director interest notice● Neutral
Erin Energy Corp. CEO, President & Secretary Frank C Ingriselli received 200,000 shares as part of the equity award.
22 July 2009securities registration● Neutral
Erin Energy Corp. filed the final prospectus for a registered offering.
23 June 2009debt financing● Neutral
The company received the signed lease on June 18, 2009 for about 502 square metres of new Beijing office space, for two years from Sept 1, 2009 to Aug 31, 2011. Combined rent and management fee is about RMB 83,596 (about $12,229) a month. It replaces the current Beijing office lease, which expires Aug 15, 2009. This is a routine office lease, not a financing.
20 May 2009director interest notice● Neutral
William Dozier became a Erin Energy Corp. director and company insider (initial ownership filing).
20 May 2009securities registration● Neutral
Erin Energy Corp. amended a filing by which it filed notice of an exempt private placement.
15 May 2009material agreement termination● NeutralMajor
Two things happened. First, on May 13, 2009 the Well Lead cooperation agreement was terminated and replaced by a letter of understanding with Li Xiangdong and Ho Chi Kong, dropping Well Lead; it covers a similar oil-recovery deal plus two more Fulaerjiqu oilfield projects. It sets up a Chinese joint venture (75.5% company subsidiary PAPE, 24.5% Li), with the company lending up to $5 million to PAPE, up to $1.5 million of milestone-based cash payments, up to 400,000 shares and an option on 400,000 shares to the two men, and Ho taking 30% of PAPE. Second, on May 11 ChevronTexaco and BHP Billiton each terminated their agreements covering the Baode Area, returning deposits of $650,000 and $500,000; the company is negotiating a new production sharing contract for Baode with CUCBM and CNPC, with no assurance of success. This resolves the Baode purchase from the April 2008 amendments and restructures the Well Lead thread.
14 May 2009director interest notice● Neutral
Erin Energy Corp. director Elizabeth P Smith received 100,000 shares as part of the equity award.
14 May 2009director interest notice● Neutral
Erin Energy Corp. director Robert C Stempel received 100,000 shares as part of the equity award.
14 May 2009director interest notice● Neutral
Erin Energy Corp. director James F. Link Jr. received 70,000 shares as part of the equity award.
12 May 2009securities registration● Neutral
Erin Energy Corp. filed notice of an exempt private placement.
16 Mar 2009director interest notice● Neutral
Erin Energy Corp. Senior VP, Managing Director Richard Grigg gifted 40,000 shares.
16 Mar 2009director interest notice● Neutral
Erin Energy Corp. CEO, President & Secretary Frank C Ingriselli gifted 300,000 shares.
9 Mar 2009director interest notice● Neutral
Erin Energy Corp. CEO, President & Secretary Frank C Ingriselli gifted 110,000 shares.
4 Mar 2009director interest notice● Neutral
Erin Energy Corp. Senior VP, Managing Director Richard Grigg received 970,000 shares as part of the equity award.
3 Mar 2009material agreement● NeutralMajor
On Feb 27, 2009 the company amended and restated its September 2008 cooperation agreement with Well Lead Group, widening it from a stake in two producing Heilongjiang oil blocks to 51% interests in several Well Lead-related oil production and oil-recovery technology companies in China. Contemplated payment is $1.5 million cash plus 4 million company shares, paid over time as milestones are met, plus up to $5 million of capital spending. It is still only an agreement to keep doing due diligence and negotiating, with a target of April 30, 2009 to finish, subject to satisfactory due diligence.
5 Jan 2009director interest notice● Neutral
Erin Energy Corp. director Robert C Stempel disposed of 10,000 shares via option/appreciation-right settlement.
5 Jan 2009director interest notice● Neutral
Erin Energy Corp. director Elizabeth Patience Smith disposed of 10,000 shares via option/appreciation-right settlement.
17 Dec 2008director interest notice● Neutral
Erin Energy Corp. CFO, VP Stephen F Groth received 165,000 shares and a 165,000-share option grant as part of the equity award.
17 Dec 2008director interest notice● Neutral
Erin Energy Corp. Executive VP Jamie Tseng received 85,000 shares and a 85,000-share option grant as part of the equity award.
17 Dec 2008director interest notice● Neutral
Erin Energy Corp. Senior VP, Managing Director Richard Grigg received 240,000 shares and a 240,000-share option grant as part of the equity award.