Last $0.44 USD
Change Today 0.00 / 0.00%
Volume 0.0
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As of 8:10 PM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).

pegasi energy resources corp (PGSI) Snapshot

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04/1/14 - $0.90
52 Week Low
09/16/14 - $0.36
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pegasi energy resources corp (PGSI) Details

Pegasi Energy Resources Corporation, an energy company, engages in the exploration, development, production, and sale of crude oil and natural gas in east Texas oil and gas region. The company holds interests in properties that are located in Cass and Marion counties, Texas. It owns an 80% undivided interest in and operates a 40-mile natural gas pipeline and gathering system for transporting hydrocarbons. As of March 1, 2013, the company operated 22 wells. Pegasi Energy Resources Corporation is headquartered in Tyler, Texas.

7 Employees
Last Reported Date: 03/24/14

pegasi energy resources corp (PGSI) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $250.0K
Chief Financial Officer
Total Annual Compensation: $200.0K
Executive Vice President
Total Annual Compensation: $225.0K
Compensation as of Fiscal Year 2013.

pegasi energy resources corp (PGSI) Key Developments

Pegasi Energy Resources Corporation Announces Participation Agreement for Drilling Program in East Texas

Pegasi Energy Resources Corp. announced a participation agreement with Pacific World Energy Limited for a drilling program of up to 10 wells in East Texas. In summary, the terms of the agreement are as follows: PWE pays the full costs of drilling and completing each well to earn an initial 80% working interest in each well. Once PWE has recovered 125% of the well costs, its working interest will decrease to 63.3% in the well; The initial two wells will be vertical wells with PWE earning a working interest in the leases of the 80 acre proration unit for each productive well; Following the completion of the first two vertical wells, PWE will have the option to finance further vertical wells, with each productive well earning them a working interest in the 80 acre proration unit for each vertical well or to finance horizontal wells with each productive well, earning them a working interest in the 320 acre proration unit for each horizontal well; This agreement covers a planned 10 well program to develop the shallower Travis Peak and Cotton Valley gas/condensate and oil bearing formations (< 9,200 ft) on Pegasi's acreage in Marion County; and Pegasi will operate all the wells. The Company expects to drill and complete the first well within the next 90 days.

Pegasi Energy Resources Corporation Announces Changes to the Board of Directors

Pegasi Energy Resources Corporation announced changes to its board of directors, effective January 28 and January 30, 2014, Alan Gelfand and David Moss, respectively, resigned for personal reasons, effective immediately, as directors of Pegasi. Effective January 31, 2014, the company appointed Jay Moorin to the Board of Directors of the company. Since 1998, Mr. Moorin has served as a founding general partner of ProQuest Investments. Currently, Mr. Moorin serves on the board of directors of Eagle Pharmaceuticals (Chairman) and Mevion Medical Systems and is an advisor to DPT Capital Management, LLC, an investment firm and serves as a Trustee of the Equinox Funds Trust. Previously, Mr. Moorin served on the board of directors of numerous public and private healthcare companies.

Pegasi Energy Resources Corporation’s Common Stock Deleted From OTCBB

Pegasi Energy Resources Corporation’s common stock has been deleted from OTC Bulletin Board (OTCBB) effective September 23, 2013, on account of ineligible for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11.


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