- PR Newswire•12 hours agoHarvest Natural Resources Announces Stockholder Authorization of Sale of Gabon Interests and Dissolution of the Company
HOUSTON, Feb. 24, 2017 /PRNewswire/ -- Harvest Natural Resources, Inc. (HNR) (Harvest or the Company) today announced that, at the Company's special meeting held yesterday, the Company's stockholders authorized the sale of all of the Company's Gabon interests to BW Energy Gabon Pte. Ltd, a private Singapore company (BW Energy Gabon). More than 92 percent of the shares voting on the sale voted to approve the transaction. On December 22, 2016, the Company announced that it and its wholly-owned subsidiary, HNR Energia B.V. (HNR Energia), had entered into a Sale and Purchase Agreement, under which BW Energy Gabon would acquire HNR Energia's 100 percent interest in Harvest Dussafu B.V., which owns a 66.667 percent interest in the Dussafu production sharing contract covering a 210,000 acre area located in offshore Gabon. At the closing of the sale, BW Energy Gabon will pay Harvest $32 million, subject to certain adjustments. $2.5 million of the purchase price will be deposited in escrow for three months to satisfy certain post-closing claims under the Sale and Purchase Agreement.
- PR Newswire•7 days ago
HOUSTON, Feb. 17, 2017 /PRNewswire/ -- Harvest Natural Resources, Inc. (HNR) ("Harvest" or the "Company") today announced that its Board of Directors has adopted a Rights Agreement (the "Rights Plan") designed to preserve its substantial tax assets. As of December 31, 2016, Harvest had cumulative net operating loss carryforwards ("NOLs") of approximately $56.0 million, which can be utilized in certain circumstances to offset possible future U.S. taxable income. In connection with the adoption of the Rights Plan, the Board of Directors declared a non-taxable dividend of one preferred share purchase right for each share of the Company's common stock outstanding as of February 17, 2017. Effective as of the close of business today, if any person or group acquires five percent or more of the outstanding shares of the Company's common stock, or if a person or group that already owns five percent or more of the Company's common stock acquires additional shares ("acquiring person or group"), then, subject to certain exceptions, there would be a triggering event under the Rights Plan. The rights would then separate from the Company's common stock and entitle the registered holder to purchase from the Company one one-hundredth of a share of the Series D Preferred Stock of the Company, at a price of $26, subject to adjustment.
- GlobeNewswire•2 months ago
BW Offshore has in partnership with the BW Group entered into agreement to acquire 66.67% of the Dussafu production sharing contract offshore Gabon. Subject to closing of this first transaction, the partnership ...
HNR : Summary for Harvest Natural Resources Inc - Yahoo Finance
Harvest Natural Resources Inc. (HNR)
NYSE - NYSE Delayed Price. Currency in USD
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|Day's Range||6.55 - 6.78|
|52 Week Range||1.68 - 6.79|
Trade prices are not sourced from all markets
|PE Ratio (TTM)||-0.79|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|