Current Report Filing (8-k)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 25, 2015

 

Supernova Energy, Inc.

 

(Exact name of registrant as specified in its charter)

 

 

 

	Nevada	333-165373	98-0628594
	(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS employer Identification Number)

 

 

 

7230 Indian Creek Lane #201, Las Vegas, NV 89149

(Address of principal executive offices) (Zip Code)

	Registrant’s telephone number, including area code:	[phone]

                                                                   

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[]	Written communications pursuant to Rule 425 under the Securities Act
[]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
[]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 

1

  

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On June 25, 2015, the registrant entered into a Lease Deposit Agreement (the “Lease”) with OMR Drilling and Acquisition, LLC. Under the Lease, the registrant will pay OMR a $5,000 deposit to place a 30 day hold on the Lease. Before the 30-day period expires, the registrant shall pay the balance of $135,000, for a total purchase price of $140,000 for the Lease. If the registrant does not pay the $135,000 before the expiration of the 30-day period, then the $5,000 deposit will be forfeited.

 

On June 25, 2015, the registrant entered into a Farmout Agreement (the “Agreement”) with OMR Drilling and Acquisition, LLC (“OMR”). Under the Agreement, OMR agrees to market up to eight new drill locations and maintain a minimum of 10% Net Revenue Interest for the registrant in each of the eight new drill locations. OMR further agrees to market one location that has a partially drilled dry well that could be deepened and will maintain a minimum of 15% Net Revenue Interest for the registration in this one location.

 

Item 9.01

Financial Statements and Exhibits

 

Exhibits

 

No.

Exhibits

      

10.1	Lease Deposit Agreement
10.2	Farmout Agreement

 

2

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated June 26, 2015

 

Supernova Energy, Inc.

 

 

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

By: /s/ Kevin G Malone
Kevin G. Malone, President, CEO, CFO

 

3

 

 

EXHIBIT INDEX

 

No.

Exhibits

      

10.1	Lease Deposit Agreement
10.2	Farmout Agreement

 

4

 

 

LEASE DEPOSIT AGREEMENT

 

 

PROJECT NAME: Ryan Lease

 

CLINTON COUNTY, KENTUCKY

 

THIS Lease Deposit Agreement is made and entered into on this 25^th day of June 2015, by and between the undersigned, Supernova Energy, hereinafter referred to as “BUYER”, and OMR Drilling and Acquisition LLC, a Kentucky corporation, whose address is 5405 S. Highway 127, Albany, Kentucky, hereinafter referred to as “OMR DRILLING”.

  

WITNESSETH

 

WHEREAS, OMR DRILLING has negotiated to purchase a certain Oil, Gas and Mineral Lease (the “Lease”) in and to lands situated in the county noted hereinabove in an area known to the parties hereto by the project name noted hereinabove; and,

 

WHEREAS, BUYER desires to place a 30 day deposit to place a HOLD on said lease.

 

NOW, THEREFORE, in consideration of the premises, the parties hereto do hereby agree and stipulate as follows, to-wit:

 

1.

BUYER agrees to pay to OMR DRILLING the amount of $5,000 in order to place a 30 day deposit to place a HOLD on said lease in an attempt to purchase said lease at a price of $140,000 within 30 days. This $5,000 payment shall be deducted from the final purchase price of the lease. Leaving a balance of $135,000 to be paid within 30 days. If the sale has not been completed prior to the end of the 30th day the $5,000 paid for the deposit shall be forfeited.

 

2.

This Deposit is transferrable.

 

3.

BUYER agrees and accepts the conditions of this Agreement and further acknowledges that the oil and gas business is inherently risky and that all or part of any investment on this project may be lost. With this in mind, OMR DRILLING makes no representation or guarantee regarding any amount of possible oil or gas production or the numerous risks in connection with an investment in this project. BUYER further states that it can withstand the total loss of investment without causing a change in lifestyle.

 

4.

This Agreement embodies the entire agreement between the parties hereto, and supersedes any and all prior negotiations or agreements in regard thereto. No alteration or extensions of this Agreement shall be binding unless in writing and signed by the parties hereto.

 

5.

The parties hereto acknowledge that they have read the above and foregoing Agreement thoroughly, that there has been adequate opportunity to consult legal counsel concerning this Agreement and that they have executed the same freely and voluntarily on the date hereof.

 

 

IN WITNESS WHEREOF, this Agreement has been agreed to and signed by each of the parties hereto, as of the day first above written.

 

	Supernova Energy
	By:	/s/ Kevin Malone
		Kevin Malone

 

 

	OMR Drilling and Acquisition, LLC
	By:	/s/ Nicholas A. Upchurch
		NICHOLAS A. UPCHURCH MANAGING MEMBER

 

 

 

 

 

 

 

 

 

FARM OUT AGREEMENT

 

 

PROJECT NAME: ANTLE LEASE

 

RUSSELL COUNTY, KENTUCKY

 

THIS Farm out Agreement is made and entered into on this 25t^h day of June 2015, by and between the undersigned, SUPERNOVA ENERGY, whose address is 7230 Indian Creek Lane #201 Las Vegas NV 89149, hereinafter referred to as “SUPERNOVA”, and OMR Drilling and Acquisition LLC, a Kentucky corporation, whose address is 5405 S. Highway 127, Albany, Kentucky, hereinafter referred to as “OMR DRILLING”.

  

WITNESSETH

 

 

WHEREAS, SUPERNOVA owns a certain Oil, Gas and Mineral Lease (the “Lease”) in and to lands situated in the county noted hereinabove in an area known to the parties hereto by the project name noted hereinabove; and,

 

WHEREAS, SUPERNOVA desires to farm out drilling locations on said lease.

 

NOW, THEREFORE the parties hereto do hereby agree and stipulate as follows, to-wit:

 

1.

OMR DRILLING agrees to market up to eight new drill locations and maintain a minimum of 10% Net Revenue Interest for SUPERNOVA in each of the eight new drill locations. OMR DRILLING further agrees to market one location that has a partially drilled dry well that could be deepened and will maintain a minimum of 15% Net Revenue Interest for SUPERNOVA in this one well.

 

 

2.

OMR DRILLING agrees that in negotiating for the first three new drill locations an acid treatment for the Slugger #1 well will be included and in negotiating for the remaining five new drill locations OMR DRILLING will ask for a minimum additional fee of $1,000 per well.

 

3.

This Agreement embodies the entire agreement between the parties hereto, and supersedes any and all prior negotiations or agreements in regard thereto. No alteration or extensions of this Agreement shall be binding unless in writing and signed by the parties hereto.

 

4.

The parties hereto acknowledge that they have read the above and foregoing Agreement thoroughly, that there has been adequate opportunity to consult legal counsel concerning this Agreement and that they have executed the same freely and voluntarily on the date hereof.

 

 

IN WITNESS WHEREOF, this Agreement has been agreed to and signed by each of the parties hereto, as of the day first above written.

 

 

	SUPERNOVA ENERGY
	By:
		AUTHORIZED REPRESENTATIVE

 

 

	OMR Drilling and Acquisition, LLC
	By:	/s/ Nicholas A. Upchurch
		NICHOLAS A. UPCHURCH MANAGING MEMBER