GLEN ROSE PETROLEUM CORP Files SEC form 8-K, Financial Statements and Exhibits

Show all filings for GLEN ROSE PETROLEUM CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for GLEN ROSE PETROLEUM CORP 1-Jul-2009Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes o...
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GLEN ROSE PETROLEUM CORP Files SEC form 8-K/A, Non-Reliance on Previous Financials, Audits or Interim Review, Financi

Show all filings for GLEN ROSE PETROLEUM CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K/A for GLEN ROSE PETROLEUM CORP 27-Mar-2009Non-Reliance on Previous Financials, Audits or Interim Review, Financi Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information p...
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Glen Rose Petroleum Corporation Announces the Appointment of New Chief Executive Officer and Chief Financial Officer

DALLAS, Aug. 13, 2009 (GLOBE NEWSWIRE) -- Glen Rose Petroleum Corporation (Nasdaq:GLRP - News), Dallas, Texas, reported that Joseph Tovey had agreed to join Glen Rose Petroleum Corporation as its new contract consulting CEO and CFO under an initial 2-year agreement. Mr. Tovey has a long and distinguished career in energy and corporate finance. He has been CEO of Tovey & Company, LLC, an investment banking firm specializing in energy, since 1977. He formerly worked as a petroleum industry analyst with several Wall Street firms, planner with Mobil Oil Corporation, and tax specialist with Lybrand, Ross. His background includes practical experience as well as advanced degrees in corporate finance, investments, accounting, taxation and economics. During the past five years, Mr. Tovey originated and/or advised on more than 15 oil and natural gas producing firms with respect to mergers, acquisitions, development, exploration and divestitures. His consulting work focuses on improving companies' operations and capital resources to qualify them for institutional capital. Mr. Tovey received a BS in Accounting, summa cum laude, with honors in economics, September 1959 from Brooklyn College. He received a MBA in Taxation from New York University Graduate School of Business Administration in June 1961 and a Ph.D. in Investment, Corporate Finance, Taxation, Accounting and Economics from NYUGBA in June 1969. Mr. Tovey, our new CEO and CFO, said, "I have taken on this assignment because I believe in the significant pote...
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GLEN ROSE PETROLEUM CORP Files SEC form 8-K, Results of Operations and Financial Condition

Show all filings for GLEN ROSE PETROLEUM CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for GLEN ROSE PETROLEUM CORP 14-Jul-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informationa...
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GLEN ROSE PETROLEUM CORP Files SEC form 10-K, Annual Report

MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION. Management's discussion and analysis of results of operations and financial condition is based upon our consolidated financial statements. These statements have been prepared in accordance with accounting principles generally accepted in the United States of America. These principles require management to make certain estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate these estimates based on historical experience and various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. OVERVIEW We are an independent producer of natural gas and crude oil based in Dallas, Texas. We produce from properties we lease in Texas, the Wardlaw lease in Edwards County, Texas. We currently have 103 wellbores, 90 of which are capable of production, and 44 are currently producing. Our plan has been to develop these properties by reworking many of the existing wells and drilling additional wells. However, the revenues we earned did not provide us with enough money to implement our development plans. During the 2009 fiscal year, the sale price of oil produced by our properties in Texas fell from $89.36 a barrel, to $33.15 a barrel. The closing price was $79.09 a barrel as of March 31, 2008, versus $35.96, as of March 31, 2009. Production costs during the 2009 fiscal year decreased from $135.87 a barrel during the 2008 fiscal year to $41.29 a barrel, because we were able to increase average daily production, while keeping our field expenses constant. Except as otherwise discussed in this Annual Report, there are no trends, and events or uncertainties in the oil industry and financial community are reasonably likely to have, a material impact on our short-term o...
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Glen Rose Petroleum Corporation NASDAQ Notice Relating to Number of Audit Committee Members

Glen Rose Petroleum Corporation NASDAQ Notice Relating to Number of Audit Committee Members - Yahoo! Finance.gnwlistitemmarginbottom {margin-bottom: 10.0px} .gnwtablebottommargin {margin-bottom: 10.0px} .gnwcellpaddingleft0 {padding-left: 0.0px} .gnwverticalaligntop {vertical-align: top} .gnwtextaligncenter {text-align: center} .gnwcellparagraphmargin {margin-bottom: 0px; margin-top: 0px} .gnwverticalalignbottom {vertical-align: bottom} .gnwwhitespacenowrap {white-space: nowrap} .gnwtextalignright {text-align: right} .gnwcellpaddingright0 {padding-right: 0.0px} .gnwunderlinestyle {text-decoration: underline} .gnwtextalignleft {text-align: left} .gnw_heading {font: 16px Arial; text-align: center} .gnw_subhead {font: 12px Arial; text-align: center} .gnw_colhead {font: 12px Arial; text-align: center} .gnw_colhead_uline {font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;} .gnw_colhead_dline {font: 12px Arial; text-align: center; border-bottom: double black 2.5pt;} .gnw_label {font: 12px Arial; vertical-align: bottom; text-align: left } .gnw_label_uline {font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: solid black 1.0pt;} .gnw_label_uline_i10 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_uline_i15 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_uline_i20 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_uline_i25 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_uline_i30 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_dline {font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: double black 2.5pt;} .gnw_label_i10 {font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;} .gnw_label_i15 {font: 12px Arial; vertical-align: bottom;...
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GLEN ROSE PETROLEUM CORP Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St

Show all filings for GLEN ROSE PETROLEUM CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for GLEN ROSE PETROLEUM CORP 9-Oct-2009Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pr...
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GLEN ROSE PETROLEUM CORP Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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GLEN ROSE PETROLEUM CORP Files SEC form 10-Q, Quarterly Report

MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION. The following discussion and analysis of our financial condition, plan of operation and liquidity should be read in conjunction with our unaudited consolidated condensed financial statements and the notes thereto included in Part I, Item 1 of this quarterly report on Form 10-Q, and our audited financial statements and the notes thereto and our Management's Discussion and Analysis or Plan of Operation contained in our annual report on Form 10-K for the fiscal years ended March 31, 2009 and 2008. OVERVIEW Glen Rose Petroleum Corporation ("Glen Rose") is a Delaware corporation formed in 2008. The Company was previously United Heritage Corporation, a Utah corporation that was formed in 1981 and was reincorporated in Delaware in 2008. The reincorporation entailed a reincorporation merger agreement between Glen Rose Petroleum Company and United Heritage Corporation, but there were no substantive changes in assets or personnel and we also have continuous financial reporting through the reincorporation. Glen Rose owns UHC Petroleum Corporation ("Petroleum"), a Texas corporation, which is a licensed operator with the Texas Railroad Commission. Petroleum is an independent producer of natural gas and crude oil based in Dallas, Texas. Petroleum operates the Wardlaw Field. The Wardlaw Field lies in Edwards County, Texas in the southeast portion of the Val Verde Basin and is approximately 28 miles west of Rocksprings and 550 miles west of Dallas. Current oil production from the field comes from the Glen Rose formation at a depth of less than 600 feet. The Company's petroleum leaseholds consist of approximately 10,502 gross acres, of which more than 10,000 acres are undeveloped. The leaseholds include 103 wellbores. Of these wells, approximately 90 are currently capable of producing and 44 wells are producing. We are in the process of evaluating the wells' design and are developing a detailed plan for the s...
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GLEN ROSE PETROLEUM CORP Files SEC form 10-K/A, Annual Report

ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION. Management's discussion and analysis of results of operations and financial condition is based upon our consolidated financial statements. These statements have been prepared in accordance with accounting principles generally accepted in the United States of America. These principles require management to make certain estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate these estimates based on historical experience and various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. OVERVIEW We are an independent producer of natural gas and crude oil. We produce from properties we lease in Texas. We acquired our Texas property, which includes 130 wellbores (of which approximately 44 wells are capable of producing), in February 1997. Our plan has been to develop these properties by reworking many of the existing wells and drilling additional wells. However, the revenues we earned did not provide us with enough money to implement our development plans. On March 31, 2006, Lothian loaned United Heritage $2,500,000 (the "Wardlaw Loan") pursuant to the terms of a promissory note and Secured Credit Agreement. We drew down the Wardlaw Loan as needed for development of the Wardlaw Field. As of March 31, 2007, we had drawn a total of $759,140. Due to Lothian's bankruptcy, limited funds are available to us. On April 20, 2005, our wholly-owned subsidiary, Petroleum, assigned 7,840 specific net acres of its 10,360 acre oil and gas leasehold situated in the Val Verde Basin to Dominion Oklahoma Texas Exploration & Production, Inc., which is a petroleum exploration and production company owned by Dominion Resources, Inc. ("...
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