Key Developments: AGR Tools Inc (AGRT.PK)
0.01USD
2:42pm EDT
$-0.00 (-33.33%)
$0.02
$0.01
$0.01
$0.01
3,065
39,659
$0.69
$0.00
Latest Key Developments (Source: Significant Developments)
AGR Tools Inc Announces Management Change-Form 8-K
AGR Tools Inc reported in its Form 8-K that Effective October 23, 2012 Vern Wilson resigned from the Board of Directors and his positions of Chief Executive Officer (CEO), President, and Secretary. Concurrent with the resignation of the Company’s Officers and Board member, the outgoing Board of Directors appointed Robert J. Thompson to the Board of Directors pursuant to NRS §78.130. Mr. Thompson is the sole Director and will also serve as the Chief Executive Officer (CEO), President, and Secretary of the Company. Full Article
AGR Tools, Inc.'s AGR Energy Enters Agreement To Acquire 2,026 Acre Oil & Gas Lease
AGR Tools Inc's, wholly owned subsidiary AGR Energy Holding Inc. (or AGR Energy) announced they have signed a memorandum of understanding to acquire a 2,026 acre oil and gas lease in, Corsicana, Texas from BNMW Resources, LLC (or the Vendor). Under the terms of the agreement, the Company shall pay $450,000 for a 77% net revenue interest in the potential production from the 4 parcels, 2,026 acre property collectively called the Smackover Lease. Full Article
AGR Tools, Inc. Appoints Chief Financial Officer
AGR Tools, Inc. announced that the appointment of Mr. Scott Allen to the position of Chief Financial Officer. Full Article
AGR Tools, Inc. Secures USD20 Million Non-Dilutive Financing
AGR Tools, Inc. announced the signing of a binding financing agreement with Qeteras Ltd, an UK based Institutional Investor. Under the terms of the agreement Qeteras will lend up to USD20 million to AGR Energy for up to 30 years bearing a 10% interest rate per annum. The credit facility is subject to several other fees and covenants which will be disclosed in SEC filings as soon as they become publically available. The proceeds of this USD20Million facility will be utilized to acquire what Management believes are attractive oil and gas properties throughout the US, with the first acquisition to be the Paul Lease in Overton County, Tennessee from Consolidated Oil and Gas (PR click here: Paul Lease Acquisition, May 30, 2012). Proceeds of the financing may also be used for working capital for the Company. Full Article
AGR Tools, Inc. To Acquire 700 Acre Oil Lease In Tennessee
AGR Tools, Inc. announced that it has entered into a letter of intent with Consolidated Oil and Gas (or COGC) to acquire a 80% ownership interest in the 700 acre Paul Lease in Overton County, Tennessee. In consideration for ownership stake AGR is to issue COGC 5mm restricted common shares. With 20 historically producing wells on a small portion of the acreage, AGR has initial plans to drill and complete 10 new wells at a total capital cost of $1.5 million, with the projected partnership revenue from these 10 wells over a five year time frame of roughly $7 million. Full Article
AGR Tools, Inc. Incorporates Wholly Owned Subsidiary
AGR Tools, Inc. announced the incorporation of a wholly owned subsidiary, AGR Energy Holdings Inc. AGR Energy will form an arm of AGR which will focus on oil & gas exploration and production within the continental United States. Full Article
AGR Tools, Inc. Announces Board Changes-Form 8-K
AGR Tools, Inc. reported in its Form 8-K that effective January 30, 2012 John Kuykendall resigned from the Board of Directors and his positions of Secretary, Treasurer, Chief Financial Officer and Principal Accounting Officer. Concurrently with the resignations of the officers and board members, the outgoing Board of Directors appointed Vern O.C. Wilson to the Board of Directors pursuant to NRS §78.130. Mr. Wilson is the sole director and will also serve as the Chief Executive Officer, President, Secretary, and Treasurer of the Company. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
