LILIS ENERGY, INC. (OTCMKTS:LLEX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On March 9, 2017, the Company entered into the first amendment to
each of Abraham Mirman, Chief Executive Officer, Ronald D.
Ormand, Chairman of the Board and Ariella Fuchs, EVP, General
Counsel and Secretary, respective employment agreements (each an
Amendment). The Amendments modify the definition of the
Measurement Date, which now extends through the Term, as defined
in each employment agreement.
The foregoing description of the terms of each of the Amendments
with Mr. Mirman, Mr. Ormand and Ms. Fuchs is not complete and is
subject in its entirety by reference to the terms of such
Amendments, a copy of which is attached as Exhibits 10.1, 10.2
and 10.3 hereto.
Item 7.01 Regulation FD Disclosure
On March 10, 2017, Lilis Energy, Inc. (the Company) issued a
press release announcing the approval of its application
torelistits common stock on The NASDAQCapital Market. The Company
expects the common stock will start trading under its existing
symbol LLEX at the open of trading on March 14. 2017. A copy of
the press release is attached as Exhibit 99.1 hereto and is
incorporated by reference in its entirety herein.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
| Exhibit No. | Description | |
| 10.1 |
First Amendment to Employment Agreement with Abraham Mirman, dated as of March 9, 2017 |
|
| 10.2 |
First Amendment to Employment Agreement with Ronald D. Ormand, dated as of March 9, 2017 |
|
| 10.3 |
First Amendment to Employment Agreement with Ariella Fuchs, dated as of March 9, 2017 |
|
| 99.1 | Press Release, dated March 10, 2017. |
About LILIS ENERGY, INC. (OTCMKTS:LLEX)
Lilis Energy, Inc. is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska. Its total net acreage in the Denver-Julesburg (DJ) Basin is approximately 7,200 acres. The Company’s primary targets within the DJ Basin are the conventional Dakota and Muddy J formations. In addition to its DJ Basin holdings, it focuses on the Permian’s Delaware Basin in Winkler and Loving Counties, Texas and Lea County, New Mexico. The Company’s net acreage in the Delaware Basin is approximately 4,433 net acres. The vertical well produces approximately 690 net million cubic feet (mcf) per day. The well holds the lease to all depths, from surface down to approximately 22,000 feet, including the Wolfcamp, Bone Springs, and Avalon formations. LILIS ENERGY, INC. (OTCMKTS:LLEX) Recent Trading Information
LILIS ENERGY, INC. (OTCMKTS:LLEX) closed its last trading session up +0.90 at 4.20 with 198,983 shares trading hands.