The company has not filed an annual or quarterly report since its Q3 FY2020 10-Q, filed Nov 19, 2020. Its latest SEC filing is a 15-12B from Dec 28, 2020.
10-Q for Q3 FY2020, filed Nov 19, 2020
The sections below describe the company as of the FY2019 annual report.
Produces and sells crude oil and natural gas from exploration and production properties in Turkey and Bulgaria to oil refineries and other buyers.
10-K for FY2019, filed Mar 25, 2020We are an international oil and natural gas company engaged in acquisition, exploration, development, and production. We have focused our…View ↗
As of December 31, 2019, we held interests in four onshore exploration licenses and 20 onshore production leases covering a total of…View ↗
We hold a 100% working interest in the Selmo production lease, which expires in June 2025. We also hold a 100% working interest in the…View ↗
Natural Gas. During 2019, no purchasers of our natural gas production, which is indexed on the New Turkish Lira (“TRY”), accounted for 10%…View ↗
Oil buyers pay for crude oil when it is delivered to a processing center, and natural gas buyers pay when it is metered at a pipeline inlet.
10-K for FY2019, filed Mar 25, 2020Our revenue consists of sales under two contracts, one for crude oil and one for natural gas. The crude oil is delivered to the inlet of a…View ↗
$67.4M
10-K for FY2019, filed Mar 25, 2020
$67.4M ↗| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Oil and Natural Gas Sales
Sold outright
10-K for FY2019, filed Mar 25, 2020 |
99% |
Oil and Natural Gas Sales, FY2019
$66.8M Sources
|
Sold outright |
|
Other
|
0.8% |
Other, FY2019
$551K Sources
|
TUPRAS buys substantially all of the company’s oil directly under a purchase and sale agreement; TPAO also buys crude oil. Natural gas is sold to multiple buyers.
10-K for FY2019, filed Mar 25, 2020We hold a 100% working interest in the Selmo production lease, which expires in June 2025. We also hold a 100% working interest in the…View ↗
Oil. During 2019, 78.5% of our oil production, which is U.S. Dollar indexed, was concentrated in the Selmo and Bahar oil fields in Turkey.…View ↗
Hatlari ile Petrol Tasima A.S. (“BOTAŞ”). The price of the oil delivered pursuant to the purchase and sale agreement is determined under…View ↗
Natural Gas. During 2019, no purchasers of our natural gas production, which is indexed on the New Turkish Lira (“TRY”), accounted for 10%…View ↗
10-K for FY2019, filed Mar 25, 2020
Oil. During 2019, 78.5% of our oil production, which is U.S. Dollar indexed, was concentrated in the Selmo and Bahar oil fields in Turkey.…View ↗
10-K for FY2016, filed Mar 22, 2017
Oil. During 2016, 93.3% of our oil production, which is U.S. Dollar indexed, was concentrated in the Selmo and Bahar oil fields in Turkey.…View ↗
No. It lost $5.4M in FY2019.
10-K for FY2019, filed Mar 25, 2020
10-Q for Q3 FY2020, filed Nov 19, 2020
−$3MView ↗
10-Q for Q3 FY2020, filed Nov 19, 2020
Open tableView ↗
8-K, filed Dec 18, 2020
The effective time of the Merger was 12:01 am Central time on December 18, 2020 (the “Effective Time”). Pursuant to the Merger Agreement…View ↗
Shrank. Revenue fell 21% in 4 years, from $85.1M in FY2015 to $67.4M in FY2019, about 6% a year.
Sale of gas properties
The older report included natural gas production from the Thrace Basin and an operated interest in an Albania gas field. The latest report describes gas production in the Thrace Basin and no longer includes the Albania interest.
10-K for FY2016, filed Mar 22, 2017 10-K for FY2019, filed Mar 25, 2020
Oil buyer concentration
The older report said TUPRAS bought most of the company’s oil; the latest report says it buys substantially all of the oil.
10-K for FY2016, filed Mar 22, 2017 10-K for FY2019, filed Mar 25, 2020Oil. During 2016, 93.3% of our oil production, which is U.S. Dollar indexed, was concentrated in the Selmo and Bahar oil fields in Turkey.…View ↗
Oil. During 2019, 78.5% of our oil production, which is U.S. Dollar indexed, was concentrated in the Selmo and Bahar oil fields in Turkey.…View ↗
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