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
September 16, 2015
Date of Report
(Date of earliest event reported)
CITADEL EXPLORATION, INC. | ||||
(Exact name of registrant as specified in its charter) | ||||
Nevada | 000-54639 | 27-1550482 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
417 31st Street, Unit A, Newport Beach, CA | 92663 | |
(Address of principal executive offices) | (Zip code) | |
(949) 612-8040 | ||
(Registrant’s telephone number, including area code) |
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:
☐ | 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)) |
Section 7 – Regulation FD
Item 7.01 Regulation FD Disclosure
Press Release
On September 16, 2015, Citadel Exploration, Inc. (the "Company") announced that production at the recently acquired Kern Bluff Oil Field has increased from 8 barrels of oil per day (BOPD) to over 50 BOPD as the result of performing two workovers.
Additionally, Citadel’s CFO Phil McPherson is scheduled to present to investors on Thursday September 17th at the Singular Research 10th Annual "Best of the Uncovered" 2015 Conference in Los Angeles. The conference is being held at the Luxe Sunset Boulevard Hotel. Citadel is scheduled to present at 11:30 am Pacific. A new investor presentation is available at Citadel’s website: www.citadelexploration.com
The Company is disclosing under Item 7.01 of this Current Report on Form 8-K the information attached to this report as Exhibit 99.1, which information is incorporated by reference herein.
The Company is furnishing the information in this Current Report on Form 8-K to comply with Regulation FD. Such information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent as referenced to such filing.
Section 9 – Financial Statements and Exhibits
Item 9.01 – Financial Statements and Exhibits
Exhibit No. | Description of Exhibit |
99.1 | Press Release – Dated September 16, 2015 |
-2- |
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.
CITADEL EXPLORATION, INC. | ||
By: /s/ Armen Nahabedian | ||
Armen Nahabedian Chief Executive Officer |
Date: September 16, 2015
-3- |
INDEX TO EXHIBITS
Exhibit No. | Description | |
Exhibit 99.1 |
|
EXHIBIT 99.1
For Immediate Release
Citadel Exploration Announces Increased Production of 500% From Initial Return to Production Program.
Newport Beach, CA, September 16, 2015 - Citadel Exploration, Inc. (OTCQB: COIL) (“Citadel” or “the Company”), a pure-play California oil company with operations in the San Joaquin Basin of California, announced today that production at the recently acquired Kern Bluff Oil Field has increased from 8 barrels of oil per day (BOPD) at acquisition to over 50 BOPD as the result of performing two workovers in the field. The Company is currently completing six additional workovers, and expects to have all eight wells on production by the end of the month.
Citadel’s CFO Phil McPherson is scheduled to present to investors on Thursday September 17th at the Singular Research 10th Annual "Best of the Uncovered" 2015 Conference in Los Angeles. The conference is being held at the Luxe Sunset Boulevard Hotel. Citadel is scheduled to present at 11:30 am Pacific. A new investor presentation is available at Citadel’s website: www.citadelexploration.com
"With operations in full swing at our recently acquired Kern Bluff Oil Field, this is a great time for both new and existing investors to get an update on Citadel’s progress,” said Mr. McPherson. “While the energy sector is currently out of favor, given low oil prices, we believe the cycle will repeat and higher commodity prices are inevitable. This asset gives us years of conventional inventory from which we can grow production and shareholder value,” he added.
About Citadel Exploration, Inc.:
Citadel Exploration (OTCQB: COIL) is a pure-play California oil company with operations in the San Joaquin Basin of California. Citadel has a broad portfolio of capital investment opportunities arising from management’s extensive knowledge of the geology and the history of oil and gas exploration and development in California.
Citadel currently is focusing its efforts on two primary prospects: The recently acquired Kern Bluff Oil Field and the 3,000 acre Yowlumne Project located in the Southern San Joaquin Basin of Kern County.
Citadel prides itself on its legacy of discovery and innovation in the industry, and is committed to a plan of careful, deliberate growth tempering risk by focusing on historically successful projects. The best place to find oil is where it has already been found.
Company Contact:
Phil McPherson – CFO
949-612-8040
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