9 June 2005securities registration● Neutral
HESS BAKKEN INVESTMENTS I Corp amended an already-effective registration statement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 May 2005listing compliance notice▲ GoodMajor
the American Stock Exchange certified HESS BAKKEN INVESTMENTS I Corp's securities for listing, clearing them to begin trading.
16 May 2005late filing notice▼ Bad
HESS BAKKEN INVESTMENTS I Corp notified the SEC that its quarterly report would be filed late.
27 Apr 2005business combination▲ GoodMajor
Completed the merger of Tower Colombia into American, issuing 5.8 million shares to Tower's owners. O'Brien and Tholstrom kept their roles, Solomon became Vice President, and all four key executives signed five-year employment agreements at $95,000 base salary.
27 Apr 2005securities registration● Neutral
HESS BAKKEN INVESTMENTS I Corp amended an already-effective registration statement.
25 Apr 2005director interest notice● Neutral
HESS BAKKEN INVESTMENTS I Corp Vice President Solomon Bob received 1,933,333 shares as part of the equity award.
25 Apr 2005director interest notice● Neutral
HESS BAKKEN INVESTMENTS I Corp Chief Executive Officer O Brien Patrick D received 1,933,334 shares and a 250,000-share option grant as part of the equity award.
25 Apr 2005director interest notice● Neutral
Solomon Bob became a HESS BAKKEN INVESTMENTS I Corp Vice-President and company insider (initial ownership filing).
25 Apr 2005director interest notice● Neutral
HESS BAKKEN INVESTMENTS I Corp Secretary Kendell V Tholstrom received 1,933,333 shares as part of the equity award.
25 Apr 2005director interest notice● Neutral
HESS BAKKEN INVESTMENTS I Corp President and CFO Andrew P Calerich received a stock option grant for 500,000 shares.
1 Apr 2005late filing notice▼ Bad
HESS BAKKEN INVESTMENTS I Corp notified the SEC that its annual report would be filed late.
25 Mar 2005material agreement● NeutralMajor
Entered a management services agreement under which Tower Colombia provides HR, asset management and accounting for $30,000 a month, effective January 17, 2005. Tower is owned by O'Brien (American's chairman and CEO), Tholstrom (a director) and Bob Solomon, and the company announced a letter of intent to acquire it.
23 Feb 2005director interest notice● Neutral
Jon R Whitney became a HESS BAKKEN INVESTMENTS I Corp director and company insider (initial ownership filing).
17 Feb 2005director interest notice● Neutral
HESS BAKKEN INVESTMENTS I Corp Chief Executive Officer O Brien Patrick D received a stock option grant for 250,000 shares.
14 Feb 2005substantial holder notice● Neutral
Wellington Management Company, LLP disclosed a new substantial HESS BAKKEN INVESTMENTS I Corp shareholding (8.60% of votes).
31 Jan 2005securities registration● Neutral
HESS BAKKEN INVESTMENTS I Corp amended a filing by which it registered a securities offering with the SEC.
20 Dec 2004securities registration● Neutral
HESS BAKKEN INVESTMENTS I Corp amended a filing by which it registered a small-business securities offering with the SEC.
3 Dec 2004securities registration● Neutral
HESS BAKKEN INVESTMENTS I Corp registered a small-business securities offering with the SEC.
13 Oct 2004director interest notice● Neutral
HESS BAKKEN INVESTMENTS I Corp director Nick Demare received 25,000 shares as part of the equity award.
28 Sept 2004capital raising announcement▲ GoodMajor
Completed a private placement of 3 million shares at $1.50, raising $4.5 million gross and about $4.4 million net. The shares went to six institutional accredited investors.
What it means for a shareholder
3.0m new shares at $1.50 to raise about $4.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
2 Apr 2004director interest notice● Neutral
HESS BAKKEN INVESTMENTS I Corp director Nick Demare received 12,500 shares as part of the equity award.
31 Mar 2004late filing notice▼ Bad
HESS BAKKEN INVESTMENTS I Corp notified the SEC that its annual report would be filed late.
10 Nov 2003director interest notice● Neutral
Nick Demare became a HESS BAKKEN INVESTMENTS I Corp director and company insider (initial ownership filing).
5 Nov 2003director interest notice● Neutral
HESS BAKKEN INVESTMENTS I Corp Secretary Alan Gelfand received 100,238 shares as part of the equity award.
18 July 2003director interest notice● Neutral
Andrew P Calerich became a HESS BAKKEN INVESTMENTS I Corp President and CFO and company insider (initial ownership filing).
19 May 2003auditor change● Neutral
On May 8, 2003 the board dismissed auditor Clyde Bailey and appointed Wheeler Wasoff as auditor for 2003. The filing says the reason was that management and the office location had changed, and it reports no disagreements and no adverse opinions from Bailey, who sent the SEC a letter agreeing. This amends an earlier May 2003 8-K on the same change.
15 May 2003late filing notice▼ Bad
HESS BAKKEN INVESTMENTS I Corp notified the SEC that its quarterly report would be filed late.
13 May 2003auditor change● Neutral
Replaced auditor Clyde Bailey with Wheeler Wasoff after management changed and the head office moved to Casper, Wyoming; there was no disagreement over the accounts. Housekeeping that follows the change of control, not a warning sign.
5 May 2003asset acquisition disposition● Neutral
An amendment to the earlier 8-K confirms that on April 28, 2003 the company paid the remaining $415,365 to Tower Colombia and North Finn under the January 17, 2003 agreement, completing the 50% working interest purchase in undeveloped Montana and Wyoming leases (total $815,365 on the pro forma balance sheet). It also adds that the company agreed to buy 100% of the sellers' interest in certain leases including up to ten coalbed methane wells, and holds an option on 28% of a Minnelusa oil prospect in Campbell County, Wyoming. The assets are non-producing, so no separate financials were given; the filing includes unaudited pro forma statements showing no revenue and a 2002 net loss of $149,216.
5 Mar 2003asset acquisition disposition▲ GoodMajor
Paid $815,000 - only $400,000 of it at closing - for half of three Rocky Mountain prospects: Bear Creek coalbed methane in Montana, the Krejci oil and gas leases in Wyoming, and Powder River coalbed methane acreage. The sellers, Tower Colombia Corporation and North Finn LLC, become this company's two defining partners.