7 Oct 2011auditor change▼ Bad
Auditor Deloitte & Touche declined to stand for reappointment for fiscal 2012, with no disagreements cited beyond material weaknesses in internal controls Magellan had already disclosed.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Sept 2011late filing notice▼ Bad
TELLURIAN INC. /DE/ notified the SEC that its annual report would be filed late.
9 Sept 2011asset acquisition disposition▲ GoodMajor
Magellan sold VAALCO Energy a path to a 65% working interest in the deeper Bakken and Red River zones under its Montana Poplar Field for $5 million cash, with VAALCO obligated to drill three wells by end-2012 to earn the interest -- a farm-out that brought in cash while VAALCO took on the deep-zone exploration risk.
27 July 2011material agreement termination▼ BadMajor
The Evans Shoal gas field purchase from Santos was terminated by mutual release after repeated closing extensions; Magellan got back its A$10 million escrow deposit with accrued interest, ending the deal without penalty.
6 July 2011director interest notice● Neutral
TELLURIAN INC. /DE/ director J Thomas Wilson received 15,000 shares as part of the equity award.
6 July 2011director interest notice● Neutral
TELLURIAN INC. /DE/ director Donald V Basso received 15,000 shares as part of the equity award.
6 July 2011director interest notice● Neutral
TELLURIAN INC. /DE/ director J Robinson West received 15,000 shares as part of the equity award.
6 July 2011director interest notice● Neutral
TELLURIAN INC. /DE/ director Ronald Pettirossi exercised stock options for 21,875 shares and disposed of 21,875 shares.
6 July 2011director interest notice● Neutral
TELLURIAN INC. /DE/ director Robert Mollah received 15,000 shares as part of the equity award.
6 July 2011director interest notice● Neutral
TELLURIAN INC. /DE/ director Walter Mccann received 15,000 shares as part of the equity award.
8 June 2011director interest notice● Neutral
TELLURIAN INC. /DE/ director Ronald Pettirossi bought 25,000 shares on the open market at $1.59.
7 June 2011director interest notice● Neutral
TELLURIAN INC. /DE/ President and CEO William H. Hastings bought 12,000 shares on the open market at $1.68.
16 May 2011quarterly activities report▼ Bad
TELLURIAN INC. /DE/ reported a quarterly net loss of $84 thousand for the period ended 2011-03-31.
18 Feb 2011material agreement● Neutral
Magellan's investment relationship with Young Energy Prize S.A. was formalized further via a new Investment Agreement and amendments to the 2010 purchase agreement, again disclosed as a related-party matter given director Nikolay Bogachev's role as YEP's CEO and part-owner.
14 Feb 2011quarterly activities report▼ Bad
TELLURIAN INC. /DE/ reported a quarterly net loss of $2.1 million for the period ended 2010-12-31.
4 Feb 2011material agreement▼ BadMajor
Amendment reporting that on January 31, 2011 Magellan's Australian subsidiary and Santos agreed to push the closing of the Evans Shoal purchase (Santos's 40% stake, A$100M price) out to May 31, 2011. In exchange, the earlier A$15M escrow deposit was released to Santos and made non-refundable, and a new A$10M deposit is due by February 14, 2011. This is another extension of the Evans Shoal deal, with more money now at risk; the later termination in 2011 is already in the history.
4 Feb 2011material agreement● NeutralMajor
Magellan's Australian subsidiary and Santos signed a Deed of Variation on January 31, 2011, extending the Evans Shoal purchase closing to May 31, 2011. The A$15 million escrow deposit was released to Santos as non-refundable, and a further A$10 million deposit was required.
28 Dec 2010material agreement● Neutral
Magellan and Santos extended the closing deadline for the Evans Shoal gas field purchase from December 2010 to January 2011, as the parties worked to secure the transaction approvals needed to close.
16 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director Ronald Pettirossi received a stock option grant for 25,000 shares.
16 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director J Thomas Wilson received a stock option grant for 300,000 shares.
16 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director Robert Mollah received a stock option grant for 25,000 shares.
16 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director Walter Mccann received a stock option grant for 75,000 shares.
16 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director J Robinson West received a stock option grant for 250,000 shares.
16 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director Donald V Basso received a stock option grant for 25,000 shares.
10 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director Robert Mollah received 15,000 shares as part of the equity award.
10 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director J Thomas Wilson received 15,000 shares as part of the equity award.
10 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director J Robinson West received 15,000 shares as part of the equity award.
10 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director Ronald Pettirossi received 15,000 shares as part of the equity award.
10 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director Walter Mccann received 15,000 shares as part of the equity award.
10 Dec 2010director interest notice● Neutral
TELLURIAN INC. /DE/ director Donald V Basso received 15,000 shares as part of the equity award.