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MILL > SEC Filings for MILL > Form 8-K on 2-Apr-2014All Recent SEC Filings

Show all filings for MILLER ENERGY RESOURCES, INC.



Entry into a Material Definitive Agreement, Financial Statements an

Item 1.01 Entry into a Material Definitive Agreement.

On March 31, 2014, Miller Energy Resources, Inc. (the "Company") entered into a Purchase Option Agreement (the "Agreement") with Baker Process, Inc. The Agreement grants the Company the option to acquire a drilling rig and related equipment (the "Rig") pursuant to the terms of the Rig Equipment Purchase Agreement (as attached as Exhibit A to the Option) at any time prior to 5:00
p.m. (Central Standard Time) on May 5, 2014 (the "Option Termination Date"). A payment of $1,500,000.00 was required in connection with the execution and delivery of the Agreement (the "Option Price"). Should the Company decide to exercise its option to purchase the Rig, the purchase price shall be an additional $1,750,000.00, in addition to the payment of the Option Price.

The foregoing description is qualified in its entirety by reference to the Option, which is filed as an Exhibit 10.1 to this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits
Exhibit No.           Description
                      Purchase Option Agreement between the Company and Baker
10.1                  Process, Inc. dated as of March 31, 2014

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