Last €0.04 EUR
Change Today -0.012 / -25.00%
Volume 0.0
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As of 1:49 PM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

azabache energy inc (3AOA) Snapshot

Open
€0.04
Previous Close
€0.05
Day High
€0.04
Day Low
€0.04
52 Week High
01/27/14 - €0.10
52 Week Low
12/11/14 - €0.0010
Market Cap
6.4M
Average Volume 10 Days
30.0
EPS TTM
--
Shares Outstanding
177.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for AZABACHE ENERGY INC (3AOA)

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azabache energy inc (3AOA) Details

Azabache Energy Inc., a junior exploration company, acquires, explores, and develops petroleum and natural gas properties primarily in Argentina and Colombia. The company has interests in the three properties in Argentina, including the El Corte, an exploration permit covering an area of 334 square kilometers and is located in the Neuquén Basin, Neuquén province; the Covunco Norte-Sur, an exploration permit covering an area of 336 square kilometers and is located in the Neuquén Basin, Neuquén province; and Loma El Divisadero, an exploitation concession covering an area of 170 square kilometers and is located in the Neuquén Basin, Mendoza province. It also has exploration, development, and exploitation rights in two blocks in Colombia comprising La Mona, an exploration block covering 445 square kilometers and is located in the Lower Magdalena Basin; and Antares, an exploration block of 169 square kilometers and is located in the Upper Magdalena Basin. The company was formerly known as Argenta Oil & Gas Inc. and changed its name to Azabache Energy Inc. in January 2010. Azabache Energy Inc. is headquartered in Calgary, Canada.

azabache energy inc (3AOA) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$163.9K
Vice President of Corporate Development
Total Annual Compensation: C$162.9K
Compensation as of Fiscal Year 2013.

azabache energy inc (3AOA) Key Developments

Azabache Energy Inc. Announces Completion of Debt Financing

Azabache Energy Inc. announced that it has closed its previously announced senior unsecured interest-bearing debt financings in the principal amount of up to an aggregate of $2,365,000 with various arm's length and non-arm's length parties to the Corporation. The Debt Financings were issued to the Lenders at a discount of 6.98%, resulting in net proceeds to the company of $2,200,000.

Azabache Energy Inc. Announces Debt Financing

Azabache Energy Inc. has entered into agreements with various arms length and non-arm's length parties to complete a senior unsecured interest-bearing debt financing in the principal amount of up to an aggregate of $2.31 million. The loan will be issued to the lenders at a discount of 6.98%, resulting in net proceeds to the company of $2,150,000. The loan will bear interest at a rate of 4% per annum, calculated and payable together with the principal of the loan upon the maturity date. The term of the loan will be 18 months from the effective date of the loan, with the company having a right to prepayment at any time. At maturity, the loan together with all accrued interest will become due and payable by the company. In consideration for the lenders advancing the loan, Azabache will pay to the lenders up to an aggregate of 9.25 million common shares in the capital of the company. Such bonus shares to be issued to the lenders on a pro rata basis, at a rate of four common shares with a deemed value of five cents per common share for each dollar of the loan.

Azabache Energy Inc. Concludes an Agreement to Extend Vaca Muerta Leases

Azabache Energy Inc. has concluded an agreement with the province of Neuquen to extend each of its petroleum and natural gas leases for the company’s Vaca Muerta properties. The governor of Neuquen signed Executive Order No. 2987/14 and No. 2988/14 pursuant to which a third exploratory period of the El Corte Block and the categorization of the Covunco Norte-Sur block as an area under evaluation was approved in accordance with the following terms: El Corte Block Term of the Third Exploratory Period: from May 12, 2014, to May 11, 2016; a 50% relinquishment of the area, leaving a remaining total surface of 170 square kilometres divided in two blocks (Block I 91 square kilometres, Block II 79 square kilometres). Covunco Norte-Sur Block Term of the evaluation period: a five-year period, effective from April 22, 2014, and expiring on April 21, 2019; investment requirements are divided into three sub-periods as follows: the first sub-period of 36 months, from April 22, 2014, which comprises: the drilling of two vertical wells targeting the Vaca Muerta formation, although one of them shall also be aimed to evaluate the Tordillo formation; a 180-square-kilometre 3D seismic program; two unconventional fractures, and 120 working units (equivalent to $600,000) intended for corporate social responsibility and further requirements of the applicable authority; the second sub-period of 12 months, which includes the drilling and completion of three wells; and the final third sub-period of 12 months, which entails the drilling and completion of six wells.

 

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