DAYBREAK OIL AND GAS, INC. (OTCMKTS:DBRM) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantItem 2.03
Creation of a Direct Financial Obligation
See discussion in Item 1.01, which is incorporated herein by reference.
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About DAYBREAK OIL AND GAS, INC. (OTCMKTS:DBRM)
Daybreak Oil and Gas, Inc. (Daybreak) is an independent oil and natural gas exploration, development and production company. The Company’s operations are focused on identifying and evaluating prospective oil and natural gas properties, and funding projects that have the potential to produce oil or natural gas in commercial quantities. The Company conducts all of its drilling, exploration and production activities onshore in the United States. Daybreak is in the process of developing approximately two multi-well oilfield projects, one in Lawrence County, Kentucky and the other in Kern County, California. Its projects include Twin Bottoms Field and East Slopes project. It has approximately 20 vertical oil wells in the East Slopes Project that produce from over five reservoirs at its Sunday, Bear, Black, Ball and Dyer Creek locations. The Twin Bottoms Field, comprising approximately 7,220 acres in over two contiguous blocks, is located in the Appalachian Basin of eastern Kentucky.