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rainchief energy inc (RCFEF) Key Developments

Rainchief Energy Inc. Executes Farm-In Kansas Prospect

Rainchief Energy Inc. announced that it has entered into a Letter of Intent (LOI) to execute a farm-in agreement with Formcap Corp. within ten business days from the date of this announcement. The oil & gas prospect is 100% controlled by Formcap and includes 2,400 acres of prospective oil and gas leases located in Cowley County, Kansas. The Lil-Bobby #1-28, a proposed 3,300' Mississippian well is located in the NE/4 of the SE/4 of Section 28-T30S-R6E. Under the terms of the Proposed Farm-in Agreement Rainchief shall have the right to earn a 60% working interest in 920 acres of the Formcap Lands by paying 100% of the cost to drill, complete and equip three (3) wells to target the Mississippian Formation. Upon completion of the third and final well Rainchief will also earn a 50% interest in the balance of the Formcap Lands representing 1440 acres.

Rainchief Energy Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Rainchief Energy Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported loss before other items was CAD 44,457, compared to CAD 65,343 for the last year. Net loss was CAD 43,053, compared to CAD 27,743 for the last year. Net loss per basic and diluted share was CAD 0.001, compared to CAD 0.032 for the last year. Net cash used in operating activities was CAD 29,443, compared to CAD 46,354 for the last year. For the six months, the company reported net loss was CAD 44,012, compared to CAD 70,661 for the last year. Net loss per basic and diluted share was CAD 0.001, compared to CAD 0.082 for the last year. Net cash used in operating activities was CAD 58,682, compared to CAD 84,914 for the last year.

Rainchief Energy Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Rainchief Energy Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported loss before other items of CAD 39,333 against CAD 42,926 a year ago. Net loss for the period was CAD 960 or CAD 0.00 per basic and diluted share against CAD 42,916 or CAD 0.054 per basic and diluted share a year ago. Net cash used in operating activities was CAD 39,272 against CAD 38,560 a year ago.

Rainchief Energy Inc. announced delayed 20-F filing

On 04/30/2014, Rainchief Energy Inc. announced that they will be unable to file their next 20-F by the deadline required by the SEC.

Rainchief Energy Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013

Rainchief Energy Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported net loss for the period of CAD 43,016 or CAD 0.05 per basic and diluted share, compared to CAD 75,453 or CAD 0.10 per basic and diluted share for the same period last year. Cash used in operating activities was CAD 46,354, compared to CAD 57,893 for the same period last year. Loss before other items was CAD 65,343 against CAD 74,504 for the same period a year ago. For the six months, the company reported net loss for the period of CAD 85,933 or CAD 0.10 per basic and diluted share, compared to CAD 104,746 or CAD 0.14 per basic and diluted share for the last year. Cash used in operating activities was CAD 84,914, compared to CAD 51,712 for the same period last year. Loss before other items was CAD 108,270 against CAD 103,125 for the same period a year ago.

 

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