Last C$0.10 CAD
Change Today -0.02 / -17.39%
Volume 819.1K
KEC On Other Exchanges
Symbol
Exchange
Venture
OTC US
As of 3:17 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

kallisto energy corp (KEC) Snapshot

Open
C$0.12
Previous Close
C$0.12
Day High
C$0.12
Day Low
C$0.10
52 Week High
09/15/14 - C$0.16
52 Week Low
02/25/14 - C$0.04
Market Cap
9.6M
Average Volume 10 Days
1.5M
EPS TTM
C$-0.04
Shares Outstanding
100.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for KALLISTO ENERGY CORP (KEC)

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kallisto energy corp (KEC) Details

Kallisto Energy Corp., through its subsidiaries, is engaged in the acquisition, exploration, exploitation, development, production, and transportation of oil and natural gas reserves in Canada. Its principal properties include 3 sections located in Pembina area; 2 sections in the Minnehik – Buck Lake area; 118 gross sections in the Crossfield area; 1 section in the Chambery, Saskatchewan area; and 4.5 sections in the Valhalla area. The company was formerly known as Arrow Energy Ltd. and changed its name to Kallisto Energy Corp. in November 2009. Kallisto Energy Corp. was incorporated in 2001 and is headquartered in Calgary, Canada. Kallisto Energy Corp. is a subsidiary of Tirmoil Energy Ltd.

Founded in 2001

kallisto energy corp (KEC) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$200.0K
Chief Financial Officer and Member of Public ...
Total Annual Compensation: C$165.0K
Vice President of Operations
Total Annual Compensation: C$165.0K
Compensation as of Fiscal Year 2013.

kallisto energy corp (KEC) Key Developments

Kallisto Energy Corp. Announces Management Changes

Kallisto Energy Corp. (Kallisto or the Company) announced that it has entered into a definitive reorganization and investment agreement with Barry Olson, Donald Sabo, Greg Phaneuf, Elizabeth More, Neil Wilson, Kellie D'Hondt and Paul Storey (the Initial Investor Group), which provides for: (i) a non-brokered private placement of approximately $25 million in aggregate; (ii) the appointment of a new management team and board of directors (collectively, the New Management Team); and (iii) a rights offering to current holders of Common Shares of Kallisto. Kallisto will be seeking a discretionary waiver from the TSX Venture Exchange in respect of the minimum pricing requirements for the Private Placement on the basis of a future consolidation to be completed by Kallisto within six months of the date of completion of the Private Placement. Completion of the Private Placement is subject to customary closing conditions, including approval of the TSXV. The New Management Team will be led by Barry Olson as President & Chief Executive Officer, Donald Sabo as Executive Vice President, Greg Phaneuf as Vice President, Finance & Chief Financial Officer, Elizabeth More as Vice President, Exploration & Geology, Neil Wilson as Vice President, Engineering, Kellie D'Hondt as Vice President, Land & Business Development and Paul Storey as Vice President, Operations. Upon closing of the Transaction, the new board of directors will be comprised of Barry Olson, James Mahoney, Dean Bernhard, Donald Sabo and up to two additional nominees as determined by members of the New Management Team. Scott Cochlan, a partner and co-head of the Calgary office of Torys LLP and such firm's Corporate and Capital Markets Practice, will act as Corporate Secretary. In addition, Scott Saxberg, President, Chief Executive Officer and Director of Crescent Point Energy Corp., is acting as an advisor to the New Management Team.

Kallisto Seeks Acquisitions

Kallisto Energy Corp. (TSXV:KEC) is seeking acquisitions. Kallisto intends to use net proceeds from private placement for the exploitation of the current Kallisto drilling inventory and expansion of Kallisto asset base through joint-ventures, farm-ins and/or strategic acquisitions. The new management Team believes that the Transaction will provide them with the ideal foundation to execute a high-growth development strategy on its current asset base and/or strategic acquisitions.

Kallisto Energy Corp. Announces Earnings and Operating Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter of 2014

Kallisto Energy Corp. announced earnings and operating results for the first quarter ended March 31, 2014. For the quarter, revenue totalled $1.47 million, which decreased 8% from the comparative timeframe last year. The decrease in oil and gas revenues is the result of lower oil and gas production, mostly offset by higher commodity prices. The company recorded a net profit of $40,014 compared to net loss of $245,324 a year ago. Capital expenditures were $0.23 against $0.97 a year ago. Cash flow was $0.60 against $0.48 a year ago. Cash flow per share was $0.01 against $0.01 a year ago. For the first three months of 2014, average production was 234 boe per day compared to 289 boe per day in first quarter of 2013. Comparing the 2014, the oil production decreases resulted from normal declines at Pembina (30 bbls per day) and Valhalla (7 bbls per day), partially offset by increases at Crossfield (8 bbls per day). Natural gas decreases resulted from normal declines at Pembina (66 mcf per day) and Alderson (95 mcf per day), partially offset by production increases at Crossfield (22 mcf per day). For the three months ended March 31, 2014, crude oil represented approximately 56% of the total sales volumes and about 79% of revenues. Production of oil and NGLs natural gas was 144 BBL per day against 174 BBL per day a year ago. For the second quarter of 2014, the company expects revenue to be lower as well, due to normally declining oil and gas production combined with lower oil and gas prices. The company is targeting to spend between $6 million and $8 million on its light oil drilling opportunities in 2014-15, which includes a number of prospective zones at Crossfield, Alta.

 

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KEC

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Valuation KEC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.6x
Price/Book 0.8x
Price/Cash Flow 4.6x
TEV/Sales 0.7x
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