Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
REI > SEC Filings for REI > Form 8-K on 10-Feb-2014All Recent SEC Filings

Show all filings for RING ENERGY, INC.

Form 8-K for RING ENERGY, INC.


10-Feb-2014

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01 Entry into a Material Definitive Agreement.

On February 4, 2014, Ring Energy, Inc. ("Ring") entered into a purchase and sale agreement, dated February 4, 2014, with Raw Oil & Gas, Inc., JDH Raw Energy LC, and Smith Energy Company, as sellers (collectively, "Sellers") (the "Purchase Agreement"). The assets to be acquired by Ring under the Purchase Agreement consist of oil and gas properties, which are located in Andrews County, in the Permian Basin of Texas. Under the terms of the Purchase Agreement, Ring agreed to acquire (i) certain producing oil and gas assets from Sellers for the sum of $7,000,000 in cash, subject to purchase price adjustments, and (ii) certain non-producing properties for a sum equal to 200% of Sellers' actual costs incurred in acquiring such leasehold interests (including lease bonus and other land costs), but not to exceed an average of $750.00 per acre, unless otherwise approved by Ring in writing. Upon the execution of the Purchase Agreement, Ring deposited $350,000.00 into trust, with such deposit to be held in escrow pending closing.

The Purchase Agreement contains customary representations and warranties and covenants by each party, including representations and warranties by Sellers regarding the absence of encumbrances. The Purchase Agreement is also subject to customary closing conditions, including a condition that Ring approves of title to the producing properties.

The foregoing description of the rights and obligations of Ring and Sellers under the Purchase Agreement and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the Purchase Agreement, which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 1.01.



Item 9.01 Financial Statements and Exhibits

10.1 Purchase and Sale Agreement, dated February 4, 2014, between Ring Energy, Inc. and Raw Oil & Gas, Inc., JDH Raw LC, and Smith Energy Company.


  Add REI to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for REI - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.