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REI > SEC Filings for REI > Form 8-K on 4-Mar-2014All Recent SEC Filings

Show all filings for RING ENERGY, INC.

Form 8-K for RING ENERGY, INC.


4-Mar-2014

Completion of Acquisition or Disposition of Assets, Regulation FD Disclosure, F


Item 2.01 Completion of Acquisition or Disposition of Assets

On February 27, 2014, Ring Energy, Inc. ("Ring") completed its acquisition (the "Acquisition") of certain assets pursuant to its previously announced Purchase and Sale Agreement, dated February 4, 2014 (the "Purchase Agreement"), between Ring and Raw Oil & Gas, Inc., JDH Raw Energy LC, and Smith Energy Company, as sellers (the "Sellers"), for a purchase price of approximately $6.45 million in cash.

The assets acquired by Ring pursuant to the Purchase Agreement consist of approximately 2,481 gross (1,5767 net) acres, located in Andrews and Gaines Counties, in the Permian Basin of Texas. The acreage, comprised of 92 separate leases, includes both "developed" and "undeveloped" parcels and is in close proximity to Ring's existing Permian Basin assets. The "developed" area is comprised of approximately 907 net acres with current net production of 42 BOEs (Barrel of Oil Equivalent) per day from the San Andres and Glorieta formations and is over 92% oil. The "undeveloped" area is comprised of approximately 660 net acres.

The foregoing description of 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 was filed as Exhibit 10.1 to the Current Report on Form 8-K filed by Ring on February 7, 2014.



Item 7.01. Regulation FD Disclosure

A copy of the press release relating to the closing of the Acquisition is attached hereto as Exhibit 99.1 and is incorporated into this Item 7.01 by reference.



Item 9.01 Financial Statements and Exhibits

(a) Financial Statements of Businesses Acquired.

Given that Ring will file its consolidated financial statements as of December 31, 2013 ("Year End Financial Statements") after the completion of the Acquisition but prior to the expiration of the 71 calendar day period after the date this Current Report must be filed (provided for in Item 9.01 of Form 8-K), no financial statements of the Business Acquired shall be required to be filed because the Acquisition will not be significant based on the Year End Financial Statements.

(b) Pro Forma Financial Information.

Given that Ring will file its Year End Financial Statements after the completion of the Acquisition but prior to the expiration of the 71 calendar day period after the date this Current Report must be filed (provided for in Item 9.01 of Form 8-K), no pro forma financial information shall be required to be filed because the Acquisition will not be significant based on the Year End Financial Statements.

(d) Exhibits.

Exhibit Number Description
99.1 Press Release of Ring Energy, Inc., dated March 4, 2014

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