28 Sept 2012securities registration● Neutral
MILLER ENERGY RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 Sept 2012material agreement● Neutral
Apollo again amended the loan to permit yet another preferred series, this time a publicly traded 10.75% Series C, and pushed the first covenant test out from October 2012 to January 2013 -- buying Miller three more months before its finances had to be measured.
25 Sept 2012securities registration● Neutral
MILLER ENERGY RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
24 Sept 2012capital raising announcement● Neutral
Sold $2.575 million of the new 12% Series B preferred to ten investors. Boruff framed it as raising money "without diluting our current shareholders" -- true only in the narrow sense that preferred stock dilutes through its dividend claim rather than its share count.
21 Sept 2012security holder rights change▼ Bad
Settled with the investors from a March 2010 placement whose warrants carried a price-ratchet and who were owed $715,200 in penalties because Miller had missed its registration deadlines -- an old, small obligation surfacing as the company restructured its share capital.
21 Sept 2012securities registration● Neutral
MILLER ENERGY RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
19 Sept 2012securities registration● Neutral
MILLER ENERGY RESOURCES, INC. filed the final prospectus for a registered offering.
10 Sept 2012quarterly activities report● Neutral
MILLER ENERGY RESOURCES, INC. reported quarterly revenue of $8.3 million and net income of $2.6 million for the period ended 2012-07-31.
10 Sept 2012quarterly activities report● Neutral
MILLER ENERGY RESOURCES, INC. reported quarterly revenue of $8.3 million and net income of $2.6 million for the period ended 2012-07-31.
6 Sept 2012securities registration● Neutral
MILLER ENERGY RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
5 Sept 2012securities registration● Neutral
MILLER ENERGY RESOURCES, INC. amended a filing by which it filed notice of an exempt private placement.
17 Aug 2012bylaws amendment● Neutral
Created a Series B redeemable preferred ranking ahead of the common stock, with Apollo's consent and on Apollo's conditions: dividends payable in cash only while Miller stays inside its loan covenants, and no changes to the terms without Apollo's sign-off. The equity raise Apollo had demanded was being structured as more preferred stock.
10 Aug 2012securities registration● Neutral
MILLER ENERGY RESOURCES, INC. filed notice of an exempt private placement.
31 July 2012director interest notice● Neutral
MILLER ENERGY RESOURCES, INC. director Charles M Stivers received a stock option grant for 40,000 shares.
31 July 2012director interest notice● Neutral
MILLER ENERGY RESOURCES, INC. director Herman Gettelfinger received a stock option grant for 40,000 shares.
31 July 2012director interest notice● Neutral
MILLER ENERGY RESOURCES, INC. director Gerald Hannahs received a stock option grant for 100,000 shares.
31 July 2012director interest notice● Neutral
Catherine A Rector became a MILLER ENERGY RESOURCES, INC. CHIEF ACCOUNTING OFFICER and company insider (initial ownership filing).
31 July 2012director interest notice● Neutral
MILLER ENERGY RESOURCES, INC. director Merrill A/ Mcpeak received a stock option grant for 40,000 shares.
31 July 2012director interest notice● Neutral
MILLER ENERGY RESOURCES, INC. director Don A Turkleson received a stock option grant for 40,000 shares.
18 July 2012director interest notice● Neutral
MILLER ENERGY RESOURCES, INC. COO Deloy Miller sold 2,488,531 shares.
5 July 2012debt financing▼ BadMajor
Refinanced Guggenheim with Apollo Investment Corporation: a $100 million facility with a $55 million base, $40 million drawn at once -- at 18% a year. The rate went up, not down, and the second $15 million was conditional on Miller proving it could raise $15 million of fresh equity.
23 May 2012director interest notice● Neutral
MILLER ENERGY RESOURCES, INC. SVP and General Counsel Kurt C Yost received a stock option grant for 41,650 shares.
23 May 2012director interest notice● Neutral
MILLER ENERGY RESOURCES, INC. SVP and General Counsel Kurt C Yost received a stock option grant for 208,350 shares.
23 May 2012director interest notice● Neutral
Kurt C Yost became a MILLER ENERGY RESOURCES, INC. SVP and General Counsel and company insider (initial ownership filing).
12 Apr 2012capital raising announcement▼ BadMajor
Raised $10 million by selling 100,000 shares of a new 10% Series A redeemable preferred, plus warrants, to twenty investors. The $84,000 finder's fee went to Dimirak Securities -- a firm 49% owned by chief executive Scott Boruff, who was also a director of it.
2 Apr 2012security holder rights change● NeutralMajor
Miller Energy amended its Tennessee charter to create 150,000 shares of a new Series A Redeemable Preferred Stock ranking ahead of the common. The board did it under authority the charter already gave it, so common shareholders had no vote on it.
2 Apr 2012securities registration● Neutral
MILLER ENERGY RESOURCES, INC. filed notice of an exempt private placement.
21 Mar 2012quarterly activities report▼ Bad
MILLER ENERGY RESOURCES, INC. reported quarterly revenue of $8.4 million and a net loss of $6.5 million for the period ended 2012-01-31.
15 Mar 2012material agreement▲ Good
Locked in an offtake contract for all of Cook Inlet Energy's crude with an independent Alaskan refiner, priced off West Texas or Alaska North Slope benchmarks less transport, with a floor of 200 and a ceiling of 24,000 barrels a day.
12 Mar 2012quarterly activities report▼ Bad
MILLER ENERGY RESOURCES, INC. reported quarterly revenue of $8.4 million and a net loss of $6.5 million for the period ended 2012-01-31.