| Address:
|
12012 WICKCHESTER LANE,
SUITE 475 |
| City: |
HOUSTON, |
|
State: |
TX |
|
Zip Code: |
77079 |
| Telephone: |
713-353-9400 |
|
Description of Business
|
Primary SIC Code:
1311 |
| (As filed with the SEC)
|
|
|
We are an independent oil and gas exploration company founded in 1996 with large
prospects in offshore Republic of Guinea ("Guinea") in Northwest Africa. We are
currently engaged in the development of our rights to a Concession offshore
Guinea (approximately 9,650 square miles) (the "Concession"), of which we are
the operator and hold a 77% working interest. Our participant, Dana Petroleum
plc ("Dana"), which is a wholly-owned subsidiary of the Korean National Oil
Corporation, holds the remaining 23% working interest in the Concession. We
have conducted 2-dimensional ("2-D") and 3-dimensional ("3-D") seismic surveys
of a portion of the Concession. We plan to drill our first well in 2011, and a
second well shortly thereafter. A new deep water 3-D seismic survey will be
conducted for us that is expected to begin before the end of 2011. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2011 | -0.09 | NA | N/E | | 06/2011 | -0.09 | NA | N/E | | 03/2011 | -0.07 | NA | N/E | | 12/2010 | -0.07 | NA | N/E | | 09/2010 | -0.09 | NA | N/E | | 06/2010 | -0.10 | NA | N/E | | 03/2010 | -0.12 | NA | N/E | | 12/2009 | -0.12 | NA | N/E |
Key Financial Ratios and Statistics |
FYE:
06/30 |
| Profitability |
2011 |
Leverage |
2011 |
| Net Inc/Comm Equity | -0.04 | Total Liab/Total Assets | 0.02 | | Net Inc/Total Assets | -0.06 | Total Liab/Inv Cap | 0.02 | | Net Inc/Inv Cap | -0.06 | Total Liab/Comm Equity | 0.01 | | Pretax Inc/Net Sales | NA | Interest Coverage Ratio | NA | | Net Inc/Net Sales | NA | Curr Debt/Equity | NA | | Cash Flow/Net Sales | NA | LTD/Equity | NA | | SG&A/NetSales | NA | Total Debt/Equity | NA |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | NA | Quick Ratio | 43.91 | | Inventory Turnover | NA | Current Ratio | 43.91 | | Inventory Day Sales | NA | Net Rec/Curr Assets | 0.01 | | Net Sales/Work Cap | NA | Inv/Curr Assets | NA | | Net Sales/PP&E | NA | | |
Income Statement (Millions) |
| |
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Total Revenues(Net Sales)
|
NA
|
NA
|
NA
|
NA
|
|
Cost of Goods Sold
|
NA
|
NA
|
NA
|
NA
|
|
Selling & Admin Exps
|
4.35
|
2.68
|
2.57
|
3.22
|
|
Operating Income
|
-4.53
|
-2.79
|
-2.67
|
-3.29
|
|
Interest Exp
|
NA
|
NA
|
NA
|
NA
|
|
Pretax Income
|
-4.38
|
-2.44
|
-2.64
|
-3.28
|
|
Other Income
|
0.16
|
0.00
|
0.00
|
-0.01
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
-4.38
|
-2.44
|
-2.64
|
-3.28
|
|
Assets
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Cash & Short Term Investments
|
93.87
|
135.26
|
158.04
|
35.22
|
|
Receivables - Total
|
3.84
|
0.71
|
2.81
|
0.53
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
98.62
|
136.82
|
161.03
|
35.99
|
|
Net Property, Plant & Equipment
|
54.69
|
37.54
|
33.28
|
22.20
|
|
Total Assets
|
193.01
|
192.68
|
194.58
|
58.41
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
5.89
|
3.12
|
3.85
|
3.70
|
|
Debt in Current Liabilities
|
NA
|
0.00
|
0.00
|
0.05
|
|
Total Current Liabilities
|
5.89
|
3.12
|
3.85
|
3.75
|
|
Long-Term Debt
|
NA
|
NA
|
NA
|
NA
|
|
Total Liabilities
|
6.06
|
3.25
|
3.99
|
3.89
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Common Stock
|
0.16
|
0.16
|
0.16
|
0.13
|
|
Retained Earnings
|
-91.24
|
-86.86
|
-84.43
|
-81.79
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
186.95
|
189.43
|
190.59
|
54.52
|
|
Total Liabilities and Stockholders' Equity
|
193.01
|
192.68
|
194.58
|
58.41
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Net Cash Provided by Operating Activities
|
-4.11
|
-2.08
|
-3.79
|
-2.22
|
|
Net Cash Provided by Investing Activities
|
-36.88
|
-76.35
|
-11.40
|
0.62
|
|
Net Cash Provided by Financing Activities
|
0.59
|
0.28
|
138.01
|
35.62
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 06/2007 | 1.01 | -23.20 | -0.49 | | 06/2008 | 2.90 | -9.51 | -0.17 | | 06/2009 | 0.00 | -8.79 | -0.15 | | 06/2010 | 0.00 | -8.01 | -0.10 | | 06/2011 | 0.00 | -11.24 | -0.09 | | Growth Rates | -100.00 | -- | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/11 | 111 | 55,886 | 33.50 |
|
Report Date :
2/6/2012
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