UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 27 , 2017
 
PETRO RIVER OIL CORP.
(Exact name of Registrant as specified in its Charter)
 
 
Delaware
000-49760
98-00611188
(State or other jurisdiction
of incorporation)
(Commission File No.)
(IRS Employer
Identification No.)
 
205 East 42nd Street, Fourteenth Floor
New York, NY 100017
 
(Address of principal executive offices)
 
 
 
(469) 828-3900
 
(Registrant s Telephone Number)
 
 
 
Not Applicable
 
(Former name or address, if changed since last report)
 
 
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 (see General Instruction A.2. below):
 
☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2) ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

 
 

 
 
 
Item 8.01 Other Events.
 
Petro River Oil Corp. (the Company ) issued a press released dated June 27, 2017 announcing that the Company will spud the Cattani-Rennie well in the Sunset Boulevard prospect in Kern County, California.  A copy of the press release is attached hereto as Exhibit 99.1, and is incorporated by reference herein.
 
Item 9.01 Financial Statements and Exhibits.
 
See Exhibit Index.
 
 
 
 
 
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
 
 
 
 
 
 
PETRO RIVER OIL CORP.
 
 
 
 
Date: June 27, 2017
 
By:
 /s/ Scot Cohen
 
 
 
Scot Cohen
 
 
 
Executive Chairman
 
 
 
 
 
 
 
 
 
 
Exhibit Index
 
 
 
 
Exhibit No.
  
Description
99.1
  
Press Release, dated June 27, 2017
 
 
 
 
 
 
Exhibit 99.1
 
FOR IMMEDIATE RELEASE
 
Petro River Oil to Drill Exploration Well in Kern County, California
 
New York, NY, June 27, 2017 (GLOBE NEWSWIRE) — Petro River Oil Corp (OTCBB: PTRC) (“Petro River” or the “Company”), an independent oil and gas exploration company, announced today it will spud the Cattani-Rennie 47X-15 exploration well (the “CR 47X”) in the Sunset Boulevard prospect in Kern County, California this week.
 
The CR 47X will be the first well drilled by Petro River and its partners in the Sunset Boulevard prospect based on recently acquired 3-D seismic, which has identified several prospects in the Kern County field. The Kern County field has potential prospective resources totaling up to 50 million barrels of oil in multiple pay zone opportunities. The CR 47X well will cost approximately $2 million and will be drilled to a depth of 9,000 feet. The CR 47X will test both the upper Miocene development opportunity and sub-trust Jewett and Vedder sandstone targets. Initial results are expected in approximately 30 days.
 
Petro River owns a 19.25% interest in the Kern County field based on a 13.75% direct working interest and 5.5% indirect working interest through its 20% equity investment in Horizon Energy Partners, LLC. Historically, since its 1933 discovery, this area of Kern County has produced over 100 million barrels of oil and equivalents from six distinct reservoirs. Our 3-D survey constitutes the first modern seismic data (including both 2-D and 3-D) acquired over this geologically complex field resulting in potential prospective resources totaling over 50 million barrels of oil.
 
“Petro River is continuing its 3-D seismic strategy, following multiple successes in Osage County, Oklahoma to identify overlooked and much larger prospects in California. Success in the Kern County field will have a significant impact on cashflow, reserves and drilling inventory for Petro River,” stated Stephen Brunner, President of Petro River.
 
ABOUT: PETRO RIVER OIL CORP
 
Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma and Kern County, California. Petro River’s strategy is to apply modern technology, such as 3-D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. Petro River owns a 20% equity interest in Horizon Energy Partners, LLC and its’ president, Stephen Brunner, is also a member of the Board of Managers of Horizon Energy Partners, LLC.
 
FORWARD-LOOKING STATEMENTS
 
This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements. These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly reports on Form 10-Q, and other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.