24 Sept 2015business combination● Neutral
ICN Fund extended its tender offer a further time, to October 13, 2015.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Sept 2015business combination▲ GoodMajor
ICN Fund I extended its tender offer for Tengasco to September 23, 2015, saying it needed more time for regulatory approvals. About 4.26 million shares had been tendered and 1.95 million more submitted by guaranteed delivery, well short of the 51% condition.
3 Sept 2015business combination● Neutral
ICN Fund I filed Amendment No. 1, extending its $0.2736-per-share tender offer for Tengasco from September 3 to September 23, 2015.
14 Aug 2015quarterly activities report▼ Bad
Riley Exploration Permian, Inc. reported quarterly revenue of $1.9 million and a net loss of $76 thousand for the period ended 2015-06-30.
7 Aug 2015business combination● Neutral
ICN Fund I filed an amended tender offer statement for all Tengasco shares at $0.2736 per share in cash. The offer was originally dated June 25, 2015, and the filing gave no new terms.
4 Aug 2015business combination● Neutral
ICN Fund amended its tender offer for Tengasco, extending the expiry from August 5 to August 25, 2015. It reworded the stated aim from taking the company private to taking control of it, with the price unchanged at $0.2736 per share.
21 July 2015business combination▼ Bad
Tengasco's board expanded on its rejection rationale, noting the ICN offer price was 20% below the stock's average price over the prior year and reflected depressed industry-wide oil prices rather than the company's underlying reserve value.
17 July 2015business combination● Neutral
ICN Fund refiled its Offer to Purchase document; a procedural amendment with no change to the $0.2736 offer price.
13 July 2015business combination▼ BadMajor
Tengasco's board formally recommended shareholders reject ICN Fund's tender offer, filing its Schedule 14D-9 rationale that the price undervalued the company.
26 June 2015business combination▼ BadMajor
ICN Fund I, LLC launched an unsolicited cash tender offer to buy all of Tengasco's outstanding shares at $0.2736 per share (about $15.75 million total).
14 May 2015quarterly activities report▼ Bad
Riley Exploration Permian, Inc. reported quarterly revenue of $1.6 million and a net loss of $515 thousand for the period ended 2015-03-31.
15 Jan 2015substantial holder notice● Neutral
Dolphin Offshore Partners, L.P, Dolphin Mgmt. Services, Inc, Peter E. Salas disclosed a new substantial Riley Exploration Permian, Inc. shareholding (33.90% of votes).
15 Jan 2015substantial holder notice● Neutral
SSB Ventures LLC reported no remaining Riley Exploration Permian, Inc. shareholding in its periodic institutional filing.
26 Nov 2014substantial holder notice● Neutral
ICN FUND I, LLC, INSERT COMPANY NAME, LLC, RODNEY DUSTIN GILES disclosed a new substantial Riley Exploration Permian, Inc. shareholding (5.10% of votes).
13 Nov 2014quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $425 thousand for the period ended 2014-09-30.
14 Aug 2014quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $377 thousand for the period ended 2014-06-30.
15 May 2014quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $424 thousand for the period ended 2014-03-31.
14 Nov 2013quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $481 thousand for the period ended 2013-09-30.
13 Aug 2013quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $772 thousand for the period ended 2013-06-30.
14 May 2013quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $937 thousand for the period ended 2013-03-31.
14 Nov 2012quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $1.2 million for the period ended 2012-09-30.
14 Aug 2012quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $1.1 million for the period ended 2012-06-30.
15 May 2012quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $873 thousand for the period ended 2012-03-31.
14 Nov 2011quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $1.2 million for the period ended 2011-09-30.
22 Sept 2011auditor change● Neutral
Tengasco dismissed Rodefer Moss and engaged Hein & Associates as its new auditor; no disagreements over accounting were involved.
15 Aug 2011quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $977 thousand for the period ended 2011-06-30.
16 May 2011quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $354 thousand for the period ended 2011-03-31.
20 Apr 2011business combination● Neutral
Tengasco filed a preliminary proxy for its annual meeting on 2011-06-20. Shareholders will vote on electing five directors (Bailey, Behrent, Brooks, Clendening and Salas), moving the company's incorporation from Tennessee to Delaware, and ratifying Rodefer Moss & Co, PLLC as auditor. Dolphin Offshore Partners, with Peter Salas as Chairman, holds 34.8% of the 60,687,413 shares outstanding, continuing its role as the dominant holder. The Delaware move is the first step toward the state of incorporation the company has today, though the visible text does not state the reason for it, and no business combination appears in the text shown.
25 Feb 2011debt financing▲ Good
F&M Bank's periodic review raised Tengasco's borrowing base from $14 million to $20 million (with a $40 million maximum line) and extended the facility to January 2013.
12 Nov 2010quarterly activities report● Neutral
Riley Exploration Permian, Inc. reported a quarterly net income of $188 thousand for the period ended 2010-09-30.