BLACK STALLION OIL AND GAS INC. (OTCMKTS:BLKG) Files An 8-K Other EventsITEM 8.01 OTHER INFORMATION
On February 9, 2016, we entered into a contractor agreement (the “February Contractor Agreement”) with Rancho Capital Management Inc. (“Rancho”). to the April Contractor Agreement, Rancho shall serve as our technical consultant in the field of petroleum based activities for a term of five years in San Diego, California. In exchange, we are to compensate Rancho with $180,000 per year.
On April 8, 2016, we entered into a contractor agreement (the “April Contractor Agreement”) with Rancho Capital Management Inc. to the April Contractor Agreement, Rancho provides our company with financial filings, strategy and advice regarding debt and equity financings, PIPEs and technical knowledge on financings. In exchange, we are to compensate Rancho with $120,000 per year and the term of the agreement is five years.
On July 15, 2016, we entered into a contractor agreement (the “July Contractor Agreement”) with Rancho Capital Management Inc. to the July Contractor Agreement, Rancho provides our company with services related to expertise and experience in raising capital. In exchange, we are to compensate Rancho with $120,000 per year and the term of the agreement is five years.
On February 9, 2017, the Company terminated all contractor agreements with Rancho Capital Management Inc, and therefore, the contracted annual fees of $420,000 due to be paid in 2017 were not prepaid to the contractor.
Item 9.01 Financial Statements and Exhibits
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Exhibit No. |
Description |
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10.8 |
Cancellation of Contractor Agreements |
Black Stallion Oil & Gas Inc. ExhibitEX-10.8 2 blkg_ex108.htm CANCELLATION OF CONTRACTOR AGREEMENTS blkg_ex108.htmEXHIBIT 10.8 BLACK STALLION OIL & GAS CORP. 633 W. 5TH STREET 26TH FLOOR LOS ANGELES,…To view the full exhibit click here
About BLACK STALLION OIL AND GAS INC. (OTCMKTS:BLKG)
Black Stallion Oil and Gas, Inc. is a development-stage and exploration-stage company. The Company is engaged in the acquisition and exploration of oil and gas properties. The Company is focused on engaging in oil and gas exploration, acquiring and developing oil and gas properties, and selling oil and gas produced. The Company plans to locate and lease existing wells for reactivation for the production of oil and gas that it will then sell, through an operator, to oil and gas brokers and gatherers. The Company has interest in West Bakken’s interest in certain oil and gas properties consisting of approximately 12,233.93 acres in Montana. The Company has also engaged an independent geological firm to identify the prospective zones and recommendations for additional detailed analysis for these leases. The Company is examining oil and gas exploration opportunities in the Rocky Mountain states in Montana, Wyoming and Colorado. The Company has not generated revenues from operations.
