MOGUL ENERGY INTERNATIONAL, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events and/or our future financial performance. Generally, you can identify forward-looking statements by terminology such as "intends," "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", or "potential" or the negative of these terms or other comparable terminology. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements that, by definition, involve risks and uncertainties. These statements reflect only our current expectations and involve known and unknown risks, uncertainties and other factors, many of which are unforeseen, including the risks in Item 1A entitled "Risk Factors," that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. You should not place undue reliance on these forward-looking statements. These forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Except as required by applicable law, including the securities laws of the United States, we do not intend to updat...
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MOGUL ENERGY INTERNATIONAL, INC. Files SEC form 8-K, Change in Directors or Principal Officers, Regulation FD Disclos

Item 7.01 Regulation FD Disclosure On October 7, 2009, the Registrant issued a press release reporting the resignation of departing director Mr. Pratt and departing Vice President of Development and Exploration, Mr. Arthur Halleran. The press release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated by reference herein. Except for the historical information presented in this document, the matters discussed in this Form 8-K, or otherwise incorporated by reference into this document, contain "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are identified by the use of forward-looking terminology such as "believes", "plans", "intend", "scheduled", "potential", "continue", "estimates", "hopes", "goal", "objective", expects", "may", "will", "should" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, may apply to forward-looking statements made by the Registrant. The reader is cautioned that no statements contained in this Form 8-K should be construed as a guarantee or assurance of future performance or results. These forward-looking statements involve risks and uncertainties, including those identified within this Form 8-K. The actual results that the Registrant achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These forward-looking statements are based on current expectations, and the Registrant assumes no obligation to update this information. Readers are urged to carefully review and consider the various disclosures made by the Re...
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Mogul Energy International, Inc. Enters Into an Extension Agreement With Excelaron LLC

SEATTLE, WA--(Marketwire - 10/07/09) - On September 9, 2009, Mogul Energy International, Inc. (OTC.BB:MGUY - News) (Frankfurt:BKX - News) (the "Registrant") entered into an Extension Agreement (the "Extension Agreement") with Excelaron LLC ("Excelaron"), a California limited liability company. The Extension Agreement extended the time for the Registrant to make the capital contribution that was the subject of the Agreement dated February 11, 2009 (the "Original Agreement"), between the Registrant and Excelaron. Under the Original Agreement, the Registrant is entitled to obtain a 40% Members Percentage Interest in Excelaron in exchange for a capital contribution of $2,300,000 (the "Capital Contribution"), to be used by Excelaron primarily for oil and gas exploration activities. The Extension Agreement sets a new schedule for payment of the Capital Contribution. On or about September 21, 2009, the Registrant executed a Letter of Intent ("LOI") with Vesta Capital Corp. ("Vesta"), a Canadian capital pool company that is a reporting issuer in British Columbia, Alberta, and Ontario, Canada; United Hydrocarbon Corporation ("UHC"), a Canadian company; and Barisan Energy Limited ("Barisan"), an Australian company (col...
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MOGUL ENERGY INTERNATIONAL, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements

Item 1.01. Entry into a Material Definitive Agreement: On September 9, 2009, Mogul Energy International, Inc. (the "Registrant") entered into an Extension Agreement (the "Extension Agreement") with Excelaron LLC ("Excelaron"), a California limited liability company. The Extension Agreement extended the time for the Registrant to make the capital contribution that was the subject of the Agreement dated February 11, 2009 (the "Original Agreement"), between the Registrant and Excelaron. Under the Original Agreement, the Registrant is entitled to obtain a 40% Members Percentage Interest in Excelaron in exchange for a capital contribution of $2,300,000 (the "Capital Contribution"), to be used by Excelaron primarily for oil and gas exploration activities. The Extension Agreement sets a new schedule for payment of the Capital Contribution. On or about September 21, 2009, the Registrant executed a Letter of Intent ("LOI") with Vesta Capital Corp. ("Vesta"), a Canadian capital pool company that is a reporting issuer in British Columbia, Alberta, and Ontario, Canada; United Hydrocarbon Corporation ("UHC"), a Canadian company; and Barisan Energy Limited ("Barisan"), an Australian company (collectively the "Parties"). Pursuant to the LOI, the Parties agreed to negotiate and use reasonable efforts to conclude a definitive agreement (the "Definitive Agreement") on or before October 15, 2009, regarding a proposed business combination (the "Proposed Transaction"). Under the Proposed Transaction, if completed, Vesta would acquire an aggregate 65% interest (the "Interests") in Excelaron, through the acquisition of the Registrant's right to earn a 40% interest in Excelaron, the acquisition of UHC's 25% interest in Excelaron, and the acquisition of Barisan's 4% interest in Excelaron. In exchange for the Interests, Vesta would issue 65 million shares as follows: 38.5 million to the...
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MOGUL ENERGY INTERNATIONAL, INC. Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue -   -   -   -  Cost of Revenue -   -   -   -  Gross Profit -   -   -   -  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative152  261  364  404  Non Recurring(10) -  1,640  715  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(142)(261)(2,004)(1,119)Income from Continuing OperationsTotal Other Income/Expenses Net(5)5  573  720  Earnings Before Interest And Taxes(147)(256)(1,431)(399)Interest Expense -   -   -   -  Income Before Tax(147)(256)(1,431)(399)Income Tax Expense -   -   -   -  Minority Interest -   -   -   -  Net Income From Continuing Ops(147)(256)(1,431)(399)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   ...
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MOGUL ENERGY INTERNATIONAL, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events and/or our future financial performance. Generally, you can identify forward-looking statements by terminology such as "intends," "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", or "potential" or the negative of these terms or other comparable terminology. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements that, by definition, involve risks and uncertainties. These statements reflect only our current expectations and involve known and unknown risks, uncertainties and other factors, many of which are unforeseen, including the risks in Item 1A entitled "Risk Factors," that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. You should not place undue reliance on these forward-looking statements. These forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Except as required by applicable law, including the securities laws of the United States, we do not intend to updat...
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MOGUL ENERGY INTERNATIONAL, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events and/or our future financial performance. Generally, you can identify forward-looking statements by terminology such as "intends," "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", or "potential" or the negative of these terms or other comparable terminology. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements that, by definition, involve risks and uncertainties. These statements reflect only our current expectations and involve known and unknown risks, uncertainties and other factors, many of which are unforeseen, including the risks in Item 1A entitled "Risk Factors," that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. You should not place undue reliance on these forward-looking statements. These forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Except as required by applicable law, including the securities laws of the United States, we do not intend to up...
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MOGUL ENERGY INTERNATIONAL, INC. Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Plan of Operation We do not anticipate any significant changes to the number of employees. Cash Requirements We will require additional funds to satisfy the terms under our agreement to acquire a 40% interest in Excelaron LLC. Further cash requirements will be necessary should the Company undertake completion of its suspended well drilled in Southeastern Saskatchewan and for general operating expenses. These funds may be raised through equity financing, debt financing, the sale of assets, or other sources, which may result in further dilution in the equity ownership of our shares. There is no assurance that we will be able to maintain operations at a level sufficient for an investor to obtain a return on his investment in our common stock. Further, we may continue to be unprofitable. Over the next twelve months we intend to use all available funds to evaluate a further drilling program on the Freehold Properties and meet our obligations under our agreement with Excelaron LLC. As at December 31, 2008, we had total assets of $1,483,608 as compared to $718,080 at December 31, 2007. Working capital at December 31, 2008 was $924,346 (working capital at December 31, 2007 ­- $706,010). As at year-ended December 31, 2008, we had current liabilities of $559,262 in current liabilities relative to current liabilities of $1,424,090 at December 31, 2007. Our total liabilities decreased by approximately $864,828. The disposition of our 20% working interest in the EWA Concession reduced our accounts payable by $759,000. We also repaid all loans to shareholders and related parties resulting in a further decrease of accounts payable of approximately $270,000. Current accounts payable consist of new payables arising as a result of the drilling program and have been incurred in the months of November and December of 2008. For the year...
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Mogul Energy International, Inc. Announces the Appointment of Dr. Arthur Halleran, Vice-President of Development and Exploration

SEATTLE, WA--(MARKET WIRE)--Mar 16, 2009 -- Mogul Energy International, Inc. (OTC BB:MGUY.OB - News) announces that it has appointed Dr. Arthur Halleran as the Vice-President of Development and Exploration. Dr. Arthur Halleran has a Ph.D. in Geology and Geophysics from the University of Calgary and M.Sc. and a B.Sc. in Geological Sciences from the University of British Columbia. Dr. Halleran has experience in countries such as Canada, Colombia, Egypt, India, Guinea, Sierra Leone, Sudan, Suriname, Chile, Brazil, Pakistan, Peru, Tunisia, Trinidad Tobago, Argentina, Ecuador and Guyana. Dr. Halleran's 28 years of experience includes working with Petro-Canada, Chevron, Rally Energy and Canacol Energy to name a few. Dr. Halleran's petroleum career includes heavy oil and Enhanced Oil Recovery experience in Argentina, Canada, Colombia and Egypt for companies such as Chevron, Rally and Canacol. Naeem Tyab, President of Mogul Energy stated, "We are very pleased with this appointment and feel strongly about our future with Dr. Halleran's experience and international expertise." Mogul also announced the resignation of Mr. William Smith, as Chief Financial Officer and director.Information concerning Mogul Energy International:Mogul Energy is an oil and gas exploration company with headquarters in Seattle, Washington. Mogul also has a 100% working interest in oil and gas leases on approximately 9,300 acres of land in South East Saskatchewan, Canada.Mogul Energy is a Delaware corporation with its principal place of business in Seatt...
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MOGUL ENERGY INTERNATIONAL, INC. Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements

Show all filings for MOGUL ENERGY INTERNATIONAL, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for MOGUL ENERGY INTERNATIONAL, INC. 12-Mar-2009Change in Directors or Principal Officers, Financial Statements 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 infor...
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