UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Alberta, | ||
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Item 1.01 Entry into a Material Definitive Agreement.
On October 24, 2024, the Company entered into a Participation Agreement with HWN Energy, Ltd. (the “Operating Partner”) to form a joint venture covering lands in the Western Canadian Sedimentary Basin in Alberta, Canada. Epsilon will earn a 25% working interest across approximately 160,000 gross acres after fulfilling a carried interest commitment of $7.3 million (across a minimum of 4 gross wells to be drilled during 2025) before December 1, 2025. The Operating Partner also has an option for an additional carried interest commitment of $1.4 million (across a minimum of 2 wells to be drilled during 2026).
A copy of the Participation Agreement is filed herewith as Exhibit 10.1 and the terms are incorporated by reference into this Item 1.01 as if fully set forth herein.
Item 7.01 Regulation FD Disclosure.
On October 24, 2024, the Company issued a press release announcing the consummation of the transactions described in Item 1.01. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this Current Report on Form 8-K pursuant to this “Item 7.01 Regulation FD Disclosure” shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section. The information in this section of this Current Report on Form 8-K shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit NumberDescription
10.1Participation Agreement with HWN Energy, Ltd dated October 22, 2024
99.1Press Release dated October 24, 2024
104104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EPSILON ENERGY LTD. | ||
Date: October 28, 2024 | By: | /s/ J. Andrew Williamson |
J. Andrew Williamson | ||
Chief Financial Officer | ||
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