2 Mar 2021director interest notice● Neutral
Riley Exploration Permian, Inc. insider Brent Alexander Arriaga received 1,687 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Mar 2021director interest notice● Neutral
E Wayne Nordberg became a Riley Exploration Permian, Inc. company insider (initial ownership filing).
1 Mar 2021director interest notice● Neutral
Brent Alexander Arriaga became a Riley Exploration Permian, Inc. company insider (initial ownership filing).
1 Mar 2021director interest notice● Neutral
Corey Neil Riley became a Riley Exploration Permian, Inc. EVP BUSINESS INTELLIGENCE and company insider (initial ownership filing).
1 Mar 2021director interest notice● Neutral
Kevin Riley became a Riley Exploration Permian, Inc. PRESIDENT and company insider (initial ownership filing).
1 Mar 2021director interest notice● Neutral
Yorktown Energy Partners Xi, L.P. became a Riley Exploration Permian, Inc. company insider (initial ownership filing).
1 Mar 2021director interest notice● Neutral
Michael H Palmer became a Riley Exploration Permian, Inc. EVP CORPORATE LAND and company insider (initial ownership filing).
1 Mar 2021director interest notice● Neutral
Bobby Riley became a Riley Exploration Permian, Inc. CHIEF EXECUTIVE OFFICER and company insider (initial ownership filing).
1 Mar 2021director interest notice● Neutral
Bryan H Lawrence became a Riley Exploration Permian, Inc. company insider (initial ownership filing).
18 Feb 2021business combination● Neutral
Duplicate filing of the same fractional-share correction to the merger proxy materials.
18 Feb 2021merger communication● Neutral
Tengasco corrected an inconsistency in its merger proxy materials, clarifying that holders who would otherwise get a fractional share from the planned reverse split (between one-for-eight and one-for-twelve) will receive one whole share instead of cash.
16 Feb 2021merger communication● Neutral
Duplicate filing of the same voluntary proxy supplement.
16 Feb 2021business combination● Neutral
Tengasco voluntarily supplemented its merger proxy statement/prospectus with additional disclosures ahead of the February 25, 2021 special shareholder meeting on the Riley Exploration - Permian deal.
2 Feb 2021securities registration● Neutral
Tengasco filed its final proxy statement/prospectus for the proposed merger with Riley Exploration – Permian. It set a February 25, 2021 stockholder meeting and an exchange ratio of 97.796467 Tengasco shares per REP unit.
22 Jan 2021merger communication● Neutral
Duplicate filing of the same Merger Agreement amendment adjusting post-merger board composition.
22 Jan 2021business combination● Neutral
Tengasco and Riley Exploration - Permian amended their Merger Agreement to reduce Riley's board seats in the combined company from three to two (Bobby D. Riley and Bryan H. Lawrence) and increase independent director seats from one to two.
21 Jan 2021business combination● Neutral
Amendment No. 2 to the S-4 for the Riley Exploration Permian / Tengasco merger. Riley holders would end up with about 95% of the combined company and Tengasco's own stockholders about 5% - a reverse takeover in substance. The special meeting date was still a blank placeholder in this draft.
31 Dec 2020business combination▼ BadMajor
The amendment disclosed three shareholder lawsuits filed in the weeks before it -- on 2, 8 and 10 December 2020, in New York and Delaware federal courts -- alleging the merger registration statement was false or misleading under the proxy rules, one of them adding a breach of fiduciary duty claim, with the plaintiffs seeking to block the merger until the disclosure is fixed. It also settled who decides the vote: Tengasco's directors and officers hold 51.5% of the stock, 49.6% of it in director Salas's hands alone. And it recorded that all seven of Tengasco's proved undeveloped drilling locations had been struck out of its reserves during 2019 as uneconomic at the oil prices then prevailing.
12 Nov 2020merger communication▼ Bad
Tengasco reported a wider Q3 2020 net loss ($813,000 vs. $182,000 a year earlier) on lower oil prices and volumes from its shrinking Kansas properties, filed while the Riley Exploration - Permian merger was pending.
12 Nov 2020business combination● NeutralMajor
Tengasco registered the shares for the Riley Exploration - Permian merger: each Riley unit converts into 97.796467 Tengasco shares, leaving Riley's members with about 95% and Tengasco's holders about 5%. At the $0.97 share price used, that was about $94.86 per Riley unit, roughly $197 million in all.
12 Nov 2020quarterly activities report▼ Bad
Riley Exploration Permian, Inc. reported quarterly revenue of $765 thousand and a net loss of $813 thousand for the period ended 2020-09-30.
12 Nov 2020quarterly activities report▼ Bad
Riley Exploration Permian, Inc. reported quarterly revenue of $765 thousand and a net loss of $813 thousand for the period ended 2020-09-30.
22 Oct 2020merger communication● Neutral
Formal filing of the Merger Agreement terms: each Riley Exploration - Permian common unit will convert into about 97.8 shares of Tengasco stock once the merger closes.
22 Oct 2020business combination● Neutral
Tengasco, Antman Sub and Riley Exploration - Permian, LLC signed a merger agreement on October 21, 2020, under which each Riley common unit would convert into 97.796467 Tengasco shares. The deal required shareholder approvals, with an outside date of March 21, 2021.
22 Oct 2020merger communication● Neutral
Investor presentation filed in connection with the pending Tengasco/Riley Exploration - Permian merger, laying out the deal rationale to shareholders.
21 Oct 2020merger communication▲ Good
Duplicate regulatory filing of the same October 21, 2020 announcement that Tengasco agreed to merge with Riley Exploration - Permian, LLC.
21 Oct 2020business combination▲ GoodMajor
Tengasco agreed to merge with Riley Exploration - Permian, LLC, a private Permian Basin oil producer, with Riley becoming a wholly-owned subsidiary of Tengasco -- the outcome of the strategic review launched in January 2020 and a transformative deal for a company that had shrunk to a single small Kansas field.
13 Aug 2020quarterly activities report▼ Bad
Tengasco (now Riley Exploration Permian) reported second-quarter 2020 revenue of about $563,000, down from $1.39 million a year earlier, and a net loss of $554,000.
14 May 2020quarterly activities report● Neutral
Tengasco (now Riley Exploration Permian) reported first-quarter 2020 revenue of about $963,000, down from $1.17 million a year earlier, and a net loss of $527,000.
19 Mar 2020security holder rights change● Neutral
Tengasco's board extended by one year (to March 2021) a shareholder rights plan designed to protect its net operating loss tax carryforwards by discouraging any shareholder from crossing a 4.95% ownership threshold -- a tax shield, not a traditional anti-takeover pill.