THE RESERVE PETROLEUM COMPANY (OTCMKTS:RSRV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On March 31, 2017, John M. McLain resigned as a director of The Reserve Petroleum Company for personal reasons.

About THE RESERVE PETROLEUM COMPANY (OTCMKTS:RSRV)

The Reserve Petroleum Company is involved in managing its owned mineral properties, and the exploration for and the development of oil and natural gas properties. The Company operates through the segment of oil and natural gas exploration and development, and minerals management with areas of concentration in Texas, Oklahoma, Kansas, Arkansas and South Dakota. The Company’s principal properties are oil and natural gas properties. The Company has interests in approximately 900 producing properties. The Company has working interests in over 210 gross (approximately 26.45 net) wells producing primarily gas and approximately 230 gross (over 22.27 net) wells producing primarily oil. These interests are in approximately 85,250 gross (over 9,740 net) producing acres. These wells include approximately 50 gross (over 1.29 net) wells associated with secondary recovery projects. The Company’s undeveloped acreage consists of non-producing mineral interests and undeveloped leaseholds.

THE RESERVE PETROLEUM COMPANY (OTCMKTS:RSRV) Recent Trading Information

THE RESERVE PETROLEUM COMPANY (OTCMKTS:RSRV) closed its last trading session up +10.00 at 225.00 with 46 shares trading hands.