Key Developments: Earthstone Energy Inc (ESTE.A)

ESTE.A on American Stock Exchange

25 Jul 2014
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$-0.05 (-0.14%)
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Latest Key Developments (Source: Significant Developments)

Earthstone Energy Inc and Oak Valley Resources, LLC announces strategic combination
Thursday, 15 May 2014 06:33pm EDT 

Earthstone Energy Inc and Valley Resources, LLC:Enteres into a definitive exchange agreement under which Earthstone will acquire all of the subsidiaries of Oak Valley.Acquisition includes, producing assets, undeveloped acreage, and about $138 million of cash, in exchange for about 9.1 million shares of common stock of Earthstone.The specified amount of cash represents existing cash on hand plus $107 million of capital commitments available to Oak Valley from its members in accordance with the terms of its limited liability company agreement.Upon completion of the Transaction, there will be about 10.9 million shares of Earthstone common stock outstanding with current Earthstone stockholders owning 16 pct. of the combined company and Oak Valley owning the remaining 84 pct.  Full Article

Earthstone Energy Inc Appoints Paul D. Maniscalco As Interim Chief Financial Officer
Thursday, 13 Dec 2012 04:56pm EST 

Earthstone Energy Inc announced that, effective as of December 11, 2012, James M. Poage resigned as the Company's interim Chief Financial Officer(CFO). Mr. Poage cited other business opportunities for his resignation and had no disagreements with the Company. Mr. Poage is expected to continue his association with the Company; primarily in the area of SOX compliance. Following this development, on December 12, 2012, the Company's Board of Directors appointed Paul D. Maniscalco to be the Company's interim CFO.  Full Article

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