SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Stoltz Donald III

(Last)

(First)

(Middle)

12 VANDERBILT DRIVE

(Street)

LIVINGSTON

07039

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Eco-Stim Energy Solutions, Inc. [ ESES ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
04/11/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/11/2016		P		2,693	A	$2.3187	2,400,081	I	By Argentina Fund⁽¹⁾
Common Stock	04/12/2016		P		1,340	A	$2.528	2,401,421	I	By Argentina Fund⁽¹⁾
Common Stock	04/13/2016		P		1,708	A	$2.5959	2,403,129	I	By Argentina Fund⁽¹⁾
Common Stock	04/19/2016		P		1,000	A	$2.61	2,404,129	I	By Argentina Fund⁽¹⁾
Common Stock	04/20/2016		P		1,300	A	$2.7915	2,405,429	I	By Argentina Fund⁽¹⁾
Common Stock	06/02/2016		P		18,408	A	$2.6932	2,423,837	I	By Argentina Fund⁽¹⁾
Common Stock	06/03/2016		P		5,331	A	$2.8039	2,429,168	I	By Argentina Fund⁽¹⁾
Common Stock	06/06/2016		P		11,149	A	$2.829	2,440,317	I	By Argentina Fund⁽¹⁾
Common Stock	06/07/2016		P		5,031	A	$2.731	2,445,348	I	By Argentina Fund⁽¹⁾
Common Stock	06/08/2016		P		2,500	A	$2.792	2,447,848	I	By Argentina Fund⁽¹⁾
Common Stock	06/13/2016		P		3,177	A	$2.65	2,451,025	I	By Argentina Fund⁽¹⁾
Common Stock	06/15/2016		P		1,100	A	$2.78	2,452,125	I	By Argentina Fund⁽¹⁾
Common Stock	06/16/2016		P		6,666	A	$2.7509	2,458,791	I	By Argentina Fund⁽¹⁾
Common Stock	06/23/2016		P		9,861	A	$2.8999	2,468,652	I	By Argentina Fund⁽¹⁾
Common Stock	06/28/2016		P		4,977	A	$2.895	2,473,629	I	By Argentina Fund⁽¹⁾
Common Stock	06/30/2016		P		7,297	A	$2.8507	2,480,926	I	By Argentina Fund⁽¹⁾
Common Stock	07/01/2016		P		13,600	A	$2.7529	2,494,526	I	By Argentina Fund⁽¹⁾
Common Stock	08/17/2016		P		20,000	A	$2.3982	2,514,526	I	By Argentina Fund⁽¹⁾
Common Stock	08/18/2016		P		300,000	A	$2.25	2,814,526	I	By Argentina Fund⁽¹⁾
Common Stock	08/23/2016		P		50,000	A	$2.4	2,864,526	I	By Argentina Fund⁽¹⁾
Common Stock	09/13/2016		P		38,683	A	$2.0818	2,903,209	I	By Argentina Fund⁽¹⁾
Common Stock	09/15/2016		P		25,451	A	$2.119	2,928,660	I	By Argentina Fund⁽¹⁾
Common Stock	09/22/2016		P		50,874	A	$2.2781	2,979,534	I	By Argentina Fund⁽¹⁾
Common Stock								1,471,838⁽³⁾	I	By Argentina Fund⁽¹⁾
Common Stock								1,507,696⁽³⁾	I	By Argentina Fund 2⁽²⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. By Bienville Argentina Opportunities Master Fund, LP ("Argentina Fund"). The Reporting Person serves as the portfolio manager of the registered investment adviser to Argentina Fund, and as such he could be deemed to indirectly beneficially own the shares held by Argentina Fund. The Reporting Person disclaims beneficial ownership of the shares, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission of beneficial ownership of these securities for Section 16 or any other purposes.

2. By Bienville Argentina Opportunities Fund 2.0, LP ("Argentina Fund 2"). The Reporting Person serves as the portfolio manager of the registered investment adviser to Argentina Fund 2, and as such he could be deemed to indirectly beneficially own the shares held by Argentina Fund 2. The Reporting Person disclaims beneficial ownership of the shares, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission of beneficial ownership of these securities for Section 16 or any other purposes.

3. On April 3, 2017, 1,507,696 shares of the Issuer were transferred by Argentina Fund to Argentina Fund 2 as part of an in-kind distribution of assets by Argentina Fund to certain of its investors who have elected to rollover all or a portion of their investment in Argentina Fund to Argentina Fund 2 via an in-kind contribution of securities to Argentina Fund 2. Accordingly, there was no change in beneficial ownership of any investors in either Fund with respect to the shares of the Issuer as a result of the transaction. With respect to the Reporting Person, the transaction only effected a change in the form of beneficial ownership without changing the Reporting Person's pecuniary interest in the shares and was exempt from Section 16 of the Securities Exchange Act of 1934 pursuant to Rule 16a-13.

	/s/ Donald Stoltz, III	04/19/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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