0001096906-12-002209.txt : 20120830 0001096906-12-002209.hdr.sgml : 20120830 20120830100542 ACCESSION NUMBER: 0001096906-12-002209 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120830 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120830 DATE AS OF CHANGE: 20120830 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WORTHINGTON ENERGY, INC. CENTRAL INDEX KEY: 0001342643 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 201399613 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-52590 FILM NUMBER: 121064690 BUSINESS ADDRESS: STREET 1: 295 HIGHWAY 50, SUITE 2 STREET 2: LAKE VILLAGE PROFESSIONAL BUILDING CITY: STATELINE STATE: NV ZIP: 89449 BUSINESS PHONE: 775-588-5390 MAIL ADDRESS: STREET 1: PO BOX 1148 CITY: ZEPHYR COVE STATE: NV ZIP: 89448-1148 FORMER COMPANY: FORMER CONFORMED NAME: PAXTON ENERGY INC DATE OF NAME CHANGE: 20051027 8-K 1 worth8k20120830.htm WORTHINGTON 8 K 08/30/2012 worth8k20120830.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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):  August 30, 2012

 
WORTHINGTON ENERGY, INC.
(Exact name of registrant as specified in its charter)

Nevada
0-52590
20-1399613
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

295 Highway 50, Suite 2, Lake Village Professional Building, Stateline, NV 89449
Mailing Address:  P.O. Box 1148, Zephyr Cove, NV 89448-1148
(Address of principal executive offices)

Registrant’s telephone number, including area code: (775) 588-5390

Copy of correspondence to:

Richard A. Friedman, Esq.
James M. Turner, Esq.
Sichenzia Ross Friedman Ference LLP
61 Broadway, 32nd Floor
New York, New York 10006
Tel:  (212) 930-9700   Fax:  (212) 930-9725

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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 



ITEM 8.01                      Other Events.

On August 30, 2012, Worthington Energy, Inc. (the “Company”) issued a press release announcing that it had successfully completed the connection of its well in the Mustang Island formation to the pipeline.  The Company further reported that it had begun charging the pipeline and the well was being brought into production mode.

A copy of the press release that discusses this matter is filed as Exhibit 99.01 to, and incorporated by reference in, this report. The information in this Current Report is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, except as shall be expressly set forth by specific reference in any such filing.

ITEM 9.01                      Financial Statements and Exhibits.

(d)           Exhibits.

 
99.01
Press Release, dated August 30, 2012, issued by Worthington Energy, Inc.




 
2

 

SIGNATURE

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



                         
   WORTHINGTON ENERGY, INC.
   
Date:  August 30, 2012
By: /s/ ANTHONY MASON
 
Anthony Mason
 
Chief Executive Officer

3


EX-99.01 2 exhibit99-01.htm EXHIBIT 99.01 exhibit99-01.htm



Exhibit 99.01

Worthington Energy Brings I-1 Well On Line

SAN FRANCISCO, Aug. 30, 2012 /PRNewswire/ -- Worthington Energy, Inc. (OTCBB: WGAS) ("Worthington" or the “Company”), an energy company engaged in the acquisition, exploration, development and drilling of oil and natural gas properties, reports that the Company has completed the sub-sea tie in connecting the I-1 well pipeline, located in the shallow waters of Kleberg County in the Gulf of Mexico, into the Six Pigs Processing facility’s main offshore pipeline. Worthington has begun charging the pipeline and the I-1 well has been brought on line and into production mode. Worthington has a 10.35% interest in the I-1 well and a 2% override interest in the entire 1,400 acres of the Mustang Island 818 Lease position.

“I am thrilled to report that the I-1 well is active,” stated Worthington President & CEO, Mr. Tony Mason.  “Last week we completed the sub-sea tie in and testing. All necessary sub-sea valves were opened and are ready for flow to begin from the hook-up to the platform. The I-1 platform is designed to handle production from the additional wells that will be drilled to fully exploit the remaining reserves in the 818 lease area."  

“Now open for initial flow, we expect that it will take approximately one week for the pipeline to fully charge, resulting in gas and condensate flow reaching the onshore processing facility,” continued Mr. Mason. “As I have previously stated, initial flow rates from the I-1 well are anticipated to be low while the well cleans up from the various materials that were used in the drilling process. The well clean-up process should take between 45 and 60 days, resulting in significant production beginning in the late October or early November timeframe. Please visit our website, www.wenergyinc.com, for pictures of our progress.”

About Worthington

Worthington engages in the acquisition, exploration, development and drilling of oil and natural gas properties. Worthington is an energy turnaround company whose strategy is to acquire cash flow producing properties with proved and probable reserves, develop the fields by reworking existing wells and drilling new wells. Worthington was founded in 2004 and is based in San Francisco, CA. More information can be found on Worthington Energy, Inc. by visiting the Company’s website at www.wenergyinc.com.

Safe Harbor

 Certain statements in this press release regarding strategic plans, expectations and objectives for future operations or results are "forward-looking statements" as defined by the Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements, including the risks discussed in the Company's annual report on Form 10-K and the Company's other filings with the Securities and Exchange Commission. Factors that could cause differences include, but are not limited to, history of losses; speculative nature of oil and natural gas exploration, particularly in the Mustang Island and Vermillion 179 formations on which the Company is focused; substantial capital requirements and ability to access additional capital; ability to meet the drilling schedule; changes in tax regulations applicable to the oil and natural gas industry; results of acquisitions; relationships with partners and service providers; ability to acquire additional leasehold interests or other oil and natural gas properties; defects in title to the Company's oil and natural gas interests; ability to manage growth in the Company's business; ability to control properties that the Company does not operate; lack of diversification; competition in the oil and natural gas industry; global financial conditions; oil and natural gas realized prices; ability to market and distribute oil and natural gas produced; seasonal weather conditions; government regulation of the oil and natural gas industry, including potential regulations affecting hydraulic fracturing and environmental regulations such as climate change regulations; uninsured or underinsured risks; and material weakness in internal accounting controls. The forward-looking statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

Contact
Surety Financial Group, LLC
410-833-0078

Source: Worthington Energy, Inc.