- PR Newswire•16 days ago
HOUSTON, Oct. 7, 2016 /PRNewswire/ -- Harvest Natural Resources, Inc. (Harvest or the Company) (HNR) has sold all of its Venezuelan interests in a closing that became effective this morning. The closing occurred in accordance with Harvest's previously announced share purchase agreement dated June 29, 2016 among Harvest, its subsidiary HNR Energia B.V. and CT Energy Holding SRL. Delta Petroleum N.V., as a permitted assignee, fulfilled CT Energy's obligations under the share purchase agreement. Harvest's stockholders approved the transaction on September 15, 2016. After receiving payment of the purchaser's note payable of $12.0 million less taxes, funding a reserve for potential change of control payments and working capital, the estimated cash remaining is expected to be $62 million. Upon the potential exercise of vested options held by employees, the estimated outstanding shares of Harvest common stock is expected to be 48,693,768 shares.
- PR Newswire•last month
HOUSTON, Sept. 16, 2016 /PRNewswire/ -- Harvest Natural Resources, Inc. (Harvest or the Company) (HNR) today announced that, at the Company's annual meeting held yesterday, the Company's stockholders authorized the sale of all of the Company's interests in Venezuela to CT Energy Holding SRL, a private investment firm (CT Energy), with more than 97% of the total number of shares voting on the proposal approving the transaction. At the closing of the sale, CT Energy or one of its affiliates will pay Harvest $80 million, subject to certain adjustments, and a $12 million six-month 11% note payable, among other consideration. On June 30, 2016, the Company announced that it and its wholly owned subsidiary, HNR Energia B.V. (HNR Energia), had entered into a Share Purchase Agreement, under which CT Energy would acquire HNR Energia's 51% interest in Harvest-Vinccler Dutch Holding B.V., a Netherlands company through which all of Harvest's Venezuelan interests are owned. Under the Share Purchase Agreement, in addition to the consideration mentioned above, Harvest will receive the cancellation of (i) $30 million of outstanding debt held by CT Energy, (ii) CT Energy's 8,667,597 shares of Harvest common stock and (iii) warrants held by CT Energy to purchase 34,070,820 shares of Harvest common stock, exercisable under certain circumstances, at an exercise price of $1.25 per share.
- PR Newswire•last month
HOUSTON, Sept. 8, 2016 /PRNewswire/ -- Harvest Natural Resources, Inc. (Harvest or the Company) (HNR) today announced that today's annual meeting of stockholders was convened and adjourned, without any business being conducted (other than the adjournment of the meeting). The annual meeting will reconvene on September 15, 2016 at 3:30 p.m. central time at the Company's headquarters located at 1177 Enclave Parkway, Suite 300, Houston, Texas 77077. The record date for stockholders entitled to vote at the annual meeting remains August 1, 2016. The adjournment is intended to provide the Company's stockholders with time to read and consider a supplement to the definitive proxy statement that the Company filed with the Securities and Exchange Commission (the SEC) on August 2, 2016. The supplement, which the Company plans to file with the SEC shortly, will provide important updates concerning the proposed sale of the Company's Venezuelan interests and the other proposals included in the proxy statement.
Harvest Natural Resources Inc. (HNR)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||1.00 x 500|
|Ask||1.10 x 2000|
|Day's Range||0.87 - 1.11|
|52wk Range||0.30 - 1.21|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||-0.57|
|Avg Vol (3m)||557,106|
|Dividend & Yield||N/A (N/A)|