Past year: ▲ 100%(1.00c – 2.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Mar 2012production update● NeutralMajor
GeoMet reported year-end 2011 proved gas reserves of about 198 Bcf (including about 49 Bcf acquired in November 2011), down from about 216 Bcf a year earlier, because about 45 Bcf of undeveloped reserves were removed given current gas prices. The present value of future net cash flows was about $173 million versus $126 million. It guides 2012 sales of 42 to 45 MMcf per day and capital spending of only $1 to $6 million, funded from operating cash flow.
14 Feb 2012substantial holder notice● Neutral
Gates Capital Management, Inc, Gates Capital Partners, L.P, ECF Value Fund, L.P, ECF Value Fund II, L.P, ECF Value Fund International, Ltd, Jeffrey L. Gates reported a GeoMet, Inc. shareholding of 7,585,829 shares (13.90% of votes) in a periodic institutional filing.
10 Feb 2012substantial holder notice● Neutral
Central Securities Corporation reported a GeoMet, Inc. shareholding of 3,829,154 shares (5.10% of votes) in a periodic institutional filing.
7 Feb 2012listing compliance notice▼ BadMajor
NASDAQ notified GeoMet on February 3, 2012 that its common stock had closed below $1.00 for 30 consecutive trading days. It has until August 1, 2012 to close at or above $1.00 for ten straight trading days, with a possible further grace period via a transfer to the NASDAQ Capital Market. Listing is unaffected for now. This is a fresh notice under the minimum-bid rule, following the earlier September 2010 deficiency in the context.
22 Nov 2011asset acquisition disposition▲ GoodMajor
The acquisition announced in October closed on November 18, 2011 at an adjusted price of about $79 million, below the $90.2 million headline; no preferential purchase rights were exercised. GeoMet borrowed $79 million under the new Fifth Amended and Restated Credit Agreement (up to $250 million, borrowing base raised from $90 million to $180 million, four-year maturity). The sellers named in the exhibits are Vitruvian Exploration, LLC and CD Exploration, LLC. The filing says the amended credit agreement lets GeoMet pay at least $2 million a year in cash preferred dividends. Audited financials of the acquired assets and pro formas are due by amendment within 75 days.
9 Nov 2011quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $8.6 million and net income of $2.4 million for the period ended 2011-09-30.
9 Nov 2011quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $8.6 million and net income of $2.4 million for the period ended 2011-09-30.
20 Oct 2011material agreement▲ GoodMajor
GeoMet agreed on October 14, 2011 to buy coalbed methane assets in Alabama and West Virginia, gas hedges and a drilling-technology license from a privately held company for $90.2 million, effective July 1, 2011. It also signed a new bank credit agreement (up to $250 million, initial borrowing base $180 million, four-year term) to take effect at closing; closing depends partly on third-party preferential purchase rights, covering $30.8 million of Alabama properties and $23.4 million of West Virginia properties, being exercised, waived or expiring.
10 Aug 2011quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $8.4 million and net income of $1.1 million for the period ended 2011-06-30.
10 Aug 2011quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $8.4 million and net income of $1.1 million for the period ended 2011-06-30.
7 June 2011securities registration● Neutral
GeoMet, Inc. filed the final prospectus for a registered offering.
9 May 2011quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $7.9 million and net income of $451 thousand for the period ended 2011-03-31.
6 May 2011quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $7.9 million and net income of $451 thousand for the period ended 2011-03-31.
6 May 2011securities registration● Neutral
GeoMet, Inc. registered a securities offering with the SEC using its shelf eligibility.
31 Mar 2011late filing notice▼ Bad
GeoMet, Inc. notified the SEC that its annual report would be filed late.
31 Mar 2011quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $7.9 million and net income of $451 thousand for the period ended 2011-03-31.
11 Feb 2011substantial holder notice● Neutral
Central Securities Corporation reported a GeoMet, Inc. shareholding of 3,617,331 shares (5.10% of votes) in a periodic institutional filing.
11 Feb 2011substantial holder notice● Neutral
Gates Capital Management, Inc, Gates Capital Partners, L.P, ECF Value Fund, L.P, ECF Value Fund II, L.P, ECF Value Fund International, Ltd, Jeffrey L. Gates reported a GeoMet, Inc. shareholding of 5,169,682 shares (11.90% of votes) in a periodic institutional filing.
10 Feb 2011substantial holder notice● Neutral
T. ROWE PRICE ASSOCIATES, INC, T. ROWE PRICE SMALL CAP VALUE FUND, INC, T. ROWE PRICE SMALL CAP STOCK FUND, INC reported a GeoMet, Inc. shareholding of 7,638,171 shares (17.70% of votes) in a periodic institutional filing.
10 Nov 2010quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $8.3 million and net income of $4.5 million for the period ended 2010-09-30.
10 Nov 2010quarterly activities report● Neutral
GeoMet, Inc. reported quarterly revenue of $8.3 million and net income of $4.5 million for the period ended 2010-09-30.
4 Oct 2010listing compliance notice▼ BadMajor
NASDAQ told GeoMet on September 28, 2010 that its common stock had closed below the $1.00 minimum bid for 30 straight business days. The company has until March 28, 2011 to regain compliance or face delisting, with a possible further 180 days if it moves to the NASDAQ Capital Market. Listing is unaffected for now. The company's press release says the $40 million rights offering and backstop and the new three-year credit agreement have been completed.
27 Sept 2010substantial holder notice● Neutral
Gates Capital Management, Inc, Gates Capital Partners, L.P, ECF Value Fund, L.P, ECF Value Fund II, L.P, ECF Value Fund International, Ltd, Jeffrey L. Gates disclosed a new substantial GeoMet, Inc. shareholding (7.30% of votes).
23 Sept 2010director interest notice● Neutral
GeoMet, Inc. VP, Chief Accounting Officer Tony Oviedo received 14,958 shares and a 34,902-share option grant as part of the equity award.
23 Sept 2010director interest notice● Neutral
GeoMet, Inc. Executive VP and CFO William C Rankin received 30,783 shares and a 71,829-share option grant as part of the equity award.
23 Sept 2010director interest notice● Neutral
GeoMet, Inc. President and CEO J Darby Sere received 55,347 shares and a 129,141-share option grant as part of the equity award.
23 Sept 2010director interest notice● Neutral
GeoMet, Inc. director J Hord Armstrong III received 34,286 shares as part of the equity award.
23 Sept 2010director interest notice● Neutral
Michael Y Mcgovern became a GeoMet, Inc. director and company insider (initial ownership filing).
23 Sept 2010director interest notice● Neutral
Gary S. Weber became a GeoMet, Inc. director and company insider (initial ownership filing).
23 Sept 2010director interest notice● Neutral
GeoMet, Inc. Senior VP - Exploration Philip G Malone received 13,056 shares and a 30,465-share option grant as part of the equity award.
