SARATOGA RESOURCES, INC. (OTCMKTS:SARA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers
On January 17, 2017, Andrew C. Clifford resigned as President and a Director of Saratoga Resources, Inc. (the “Company”).
On January 23, 2017, Brad Holmes was appointed to the Company’s board of directors. Mr. Holmes, age 66, is owner of EnergyIR, LLC, a full service IR consultancy firm serving E&P and oilfield services companies.
Regulation FD Disclosure.
On January 23, 2017, Saratoga Resources, Inc. issued a press release regarding the resignation of Andrew Clifford and providing an update on operations. A copy of the press release is attached hereto as Exhibit 99.1.
In accordance with General Instruction B.2. of Form 8-K, the press release shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act of 1934 or otherwise subject to the liabilities of that section, and such information and exhibit shall not be deemed incorporated by reference into any filing under the Securities Exchange Act of 1934 or under the Securities Act of 1933 except as shall be expressly set forth by specific reference in such a filing.
Financial Statements and Exhibits.
Press release, dated January 23, 2017
About SARATOGA RESOURCES, INC. (OTCMKTS:SARA)
Saratoga Resources, Inc. is an independent oil and natural gas company. The Company is engaged in the production, development, acquisition and exploitation of crude oil and natural gas properties. As of December 31, 2014, the Company’s properties consisted of 51,500 acres under lease, including 31,700 acres gross/net located in the transitional coastline in protected in-bay environments on parish and state leases in south Louisiana and 19,800 acres gross/net under federal leases in the shallow Gulf of Mexico shelf. The Company’s state and parish leases span 11 fields, which are characterized by over 30 years of development drilling and production history, including Grand Bay field, which has over 70 years of production history and over 258 million barrels of crude oil equivalent (MMBoe) produced as of December 31, 2014, and remains virtually unexplored at depths greater than 15,000 feet. As of December 31, 2014, its total proved reserves were 10.2 MMBoe. SARATOGA RESOURCES, INC. (OTCMKTS:SARA) Recent Trading Information
SARATOGA RESOURCES, INC. (OTCMKTS:SARA) closed its last trading session up +0.016 at 0.230 with shares trading hands.