4 Feb 2013security holder rights change● Neutral
The rights plan was amended again to accommodate the warrants issued to the MSD funds with the October 2012 notes, so that lending to Harvest did not accidentally trigger the poison pill.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 Dec 2012substantial holder notice● Neutral
Capital World Investors ** reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,492,322 shares (3.80% of votes) in a periodic institutional filing.
30 Nov 2012material agreement▼ BadMajor
The Pertamina agreement had to be amended for the first time, five months after signing and with Indonesian approval still not granted.
15 Nov 2012securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
9 Nov 2012quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $5.8 million for the period ended 2012-09-30.
19 Oct 2012securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. filed notice of an exempt private placement.
15 Oct 2012capital raising announcement▼ BadMajor
With the Pertamina sale still unapproved, Harvest borrowed $79.8 million at 11% for two years, issued at 96 cents on the dollar and with warrants over 686,761 shares at $10 attached. Part of it was paid for by rolling in an existing convertible note. Borrowing this expensively against a sale that had not closed is what later made the sale's failure fatal.
29 Aug 2012securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. filed notice of an exempt private placement.
22 Aug 2012capital raising announcement● Neutral
A further $1.9 million of notes went for 339,047 shares two days later, taking the remaining balance to about $9.0 million.
20 Aug 2012capital raising announcement● Neutral
Another $4.65 million of the convertible notes was exchanged for 829,951 shares at $5.60, leaving about $10.9 million outstanding.
9 Aug 2012quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $6.2 million for the period ended 2012-06-30.
21 June 2012material agreement▲ GoodMajor
Harvest agreed to sell its 80% of Harvest-Vinccler Dutch Holding, which holds a 40% stake in Petrodelta, to Indonesia's Pertamina for $725 million cash. This would sell all its Venezuelan interests (a 32% net stake in Petrodelta), with net proceeds estimated at about $525 million. Closing needed Venezuelan, Indonesian and Harvest shareholder approvals.
10 May 2012quarterly activities report▼ Bad
HARVEST NATURAL RESOURCES, INC. reported a quarterly net loss of $1.0 million for the period ended 2012-03-31.
30 Mar 2012material agreement● NeutralMajor
Harvest set up a $75 million facility with Knight Capital to sell shares straight into the market whenever it chose - a standing dilution tap, opened while the company was already exchanging notes for stock.
30 Mar 2012securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
23 Mar 2012securities registration● Neutral
HARVEST NATURAL RESOURCES, INC. filed notice of an exempt private placement.
9 Mar 2012capital raising announcement● NeutralMajor
Harvest persuaded holders of $16.0 million of its 8.25% convertible notes to swap them for 2,875,357 shares at an effective $5.56, plus 161,603 more shares in place of a $1.3 million cash interest payment. Debt was being turned into equity at a discount to the notes' conversion price - cheaper than repaying it, but dilutive.
8 Mar 2012production update● Neutral
An operational update covering Petrodelta, the international exploration portfolio and reserves, issued the day before Harvest began converting its 2010 notes into shares.
13 Feb 2012substantial holder notice● Neutral
BlackRock, Inc reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,995,504 shares (5.81% of votes) in a periodic institutional filing.
13 Feb 2012substantial holder notice● Neutral
JET CAPITAL INVESTORS, L.P, Jet Capital Management, L.L.C, Alan S. Cooper, Matthew Mark reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,877,100 shares (5.47% of votes) in a periodic institutional filing.
10 Feb 2012substantial holder notice● Neutral
Capital World Investors ** reported a HARVEST NATURAL RESOURCES, INC. shareholding of 3,820,670 shares (11.00% of votes) in a periodic institutional filing.
8 Feb 2012substantial holder notice● Neutral
THE VANGUARD GROUP, INC. disclosed a new substantial HARVEST NATURAL RESOURCES, INC. shareholding (5.03% of votes).
7 Feb 2012substantial holder notice● Neutral
Cumberland Associates LLC reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,086,974 shares (3.20% of votes) in a periodic institutional filing.
6 Feb 2012substantial holder notice● Neutral
Amici Associates L.P, Amici Qualified Associates, L.P, The Collectors' Fund L.P, Amici Global Partners, L.P, Amici Fund International, Ltd, CF Advisors, LLC, Porter Orlin LLC, A. Alex Porter, Paul E. Orlin, Third Party Fund A, Third Party Fund B reported a HARVEST NATURAL RESOURCES, INC. shareholding of 3,284,446 shares (9.57% of votes) in a periodic institutional filing.
6 Jan 2012substantial holder notice● Neutral
SOROS FUND MANAGEMENT LLC, GEORGE SOROS, ROBERT SOROS, JONATHAN SOROS reported no remaining HARVEST NATURAL RESOURCES, INC. shareholding in its periodic institutional filing.
9 Nov 2011quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $10.6 million for the period ended 2011-09-30.
6 Oct 2011substantial holder notice● Neutral
JET CAPITAL INVESTORS, L.P, Jet Capital Management, L.L.C, Alan S. Cooper, Matthew Mark disclosed a new substantial HARVEST NATURAL RESOURCES, INC. shareholding (5.20% of votes).
10 Aug 2011substantial holder notice● Neutral
Capital World Investors ** reported a HARVEST NATURAL RESOURCES, INC. shareholding of 3,488,064 shares (10.30% of votes) in a periodic institutional filing.
9 Aug 2011quarterly activities report● Neutral
HARVEST NATURAL RESOURCES, INC. reported a quarterly net income of $92.8 million for the period ended 2011-06-30.
23 May 2011asset acquisition disposition▲ GoodMajor
The Utah sale closed at $217.8 million after adjustments, and Harvest immediately spent about $62.1 million of it repaying debt - clearing the expensive MSD term loan taken on seven months earlier. For a brief period the company was cash-rich and almost unlevered.