0001354488-12-000445.txt : 20120206 0001354488-12-000445.hdr.sgml : 20120206 20120206164550 ACCESSION NUMBER: 0001354488-12-000445 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120206 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120206 DATE AS OF CHANGE: 20120206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARETE INDUSTRIES INC CENTRAL INDEX KEY: 0000820901 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 841063149 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-16820-D FILM NUMBER: 12574169 BUSINESS ADDRESS: STREET 1: 7260 OSCEOLA STREET CITY: WESTMINSTER STATE: CO ZIP: 80030 BUSINESS PHONE: 303-652-3113 MAIL ADDRESS: STREET 1: 7260 OSCEOLA STREET CITY: WESTMINSTER STATE: CO ZIP: 80030 FORMER COMPANY: FORMER CONFORMED NAME: TRAVIS INDUSTRIES INC DATE OF NAME CHANGE: 19930614 FORMER COMPANY: FORMER CONFORMED NAME: TRAVIS INVESTMENTS INC DATE OF NAME CHANGE: 19890427 8-K 1 aret_8k.htm 8-K aret_8k.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: February 1, 2012
(Date of earliest event reported)

Arête Industries, Inc.
(Exact name of registrant as specified in its charter)
         
COLORADO
  
33-16820-D
  
84-1508638
(State or other jurisdiction
of incorporation)
   (Commission File Number)   (IRS Employer Identification No.)

P.O. Box 141
Westminster, Colorado 80036
(Address of principal executive offices) (Zip Code)
 
(303) 427-8688
(Registrant’s telephone number, including area code)
 
 
Not Applicable
  
 
(Former name or former 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:
 
 
  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))
 
 
 
 
 
 

ITEM 8.01 OTHER EVENTS

On January 10, 2012, Arête Industries, Inc. (the “Registrant”) entered into an agreement to sell their working interest in a lease (1,897 gross acres) and associated oil well (100% working interest) in Niobrara County, Wyoming to an unaffiliated third party. Under the term of the agreement the sale was deemed effective January 1, 2012 and closed on February 1, 2012.

As part of the sale agreement, the Company received $1,078,778 for its 100% working interest in the oil well and lease, and received $29,933 for the oil in the tanks and expenses advanced. The agreement allows for the Company to retain a 2.575% overriding royalty interest in the lease.
 
The Registrant believes that the proceeds to it from the sale of these oil and gas interests will be accounted for as sale and gain of approximately $750,000.
 
 
ITEM 7.01 REGULATION FD DISCLOSURE

On February 6, 2021, the Registrant issued a press release announcing the sale of the Wyoming well and lease and receipt of proceeds, which is attached hereto as Exhibit 99.1.

The information in Item 8.01 and Exhibit 99.1 attached hereto are furnished pursuant to Item 8.01 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability under that section, nor shall they be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. By filing this current report on Form 8-K and furnishing this information in Item 7.01 and Exhibit 99.1 attached hereto, the Registrant makes no admission as to the materiality of such information in this current report that is required to be disclosed solely by reason of Regulation FD.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d)
Exhibits:
      
         
 
The following exhibit is furnished with this Current Report on Form 8-K:
         
 
Exhibit No.
  
Description
  
         
  99.1    Press release dated February 6, 2012.  

 
 
 
 
SIGNATURE
 
 
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.
 

       
   
ARÊTE INDUSTRIES, INC.
  
         
   
By:  
/s/ Donald W. Prosser
  
   
Name:  
Donald W. Prosser
  
Date: February 6, 2012
  
Title:  
Chief Executive Officer and Director
  


 
 
 
 EX-99.1 2 ex991.htm EXHIBIT 99.1 ex991.htm
 
Exhibit 99.1

Press Release
Source: Arête Industries, Inc.
 
Arête Industries, Inc. Announces the Sale of a Well and Lease in Wyoming for Approximately $1.1 Million in Proceeds with a $750,000 Profit.

Monday, February 6, 2012

WESTMINSTER, Colorado, February 6, 2012 (Business Wire) Arête Industries, Inc. (OTC-QB: ARET) today announced it has sold a well and lease in Niobrara County Wyoming of its recently acquired assets for approximately $1.1 million to an unaffiliated party.  Arête paid $108,420 in the original purchase price for a 50% working interest and an overriding royalty interest. In October 2011, Arête purchased the remaining 50% working interest and an overriding royalty interest for $167,800. Therefore, Arête’s the gain on the sale is approximately $750,000 and it retains its 2.575% overriding royalty interest.

Donald Prosser, Chairman and Chief Executive Officer of Arête Industries, Inc. commented, “We are pleased to announce this sale as we are able take a profit, pay some debt, and participate in the future cash flow on the property.”
 
Make sure you are first to receive timely information on Arête Industries when it hits the newswire. Sign up for Arête’s email news alert system today at: http://www.areteindustries.com/alerts

About Arête Industries
 
The Company holds oil and gas properties in the Rocky Mountain Region of the United States and operates a small natural gas gathering system. For additional information on the Company visit our website at: http://www.areteindustries.com

SAFE HARBOR
 
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this report, such as statements regarding our future expectations to increase our production are forward-looking statements (often, but not always, using words such as "expects", "anticipates", "plans", "estimates", "potential", "possible", "probable", or "intends", or stating that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved). Forward-looking statements are based on our current expectations and assumptions about future events and involve inherent risks and uncertainties. These risks include, but are not limited to, the volatility in commodity prices for crude oil and natural gas, the presence or recoverability of estimated reserves, the ability to replace reserves, environmental risks, drilling and operating risks, exploration and development risks, competition and government regulation or other actions. Additional information on these and other factors which could affect Arête’s operations or financial results are included in Arêtes' reports on file with the Securities and Exchange Commission. Such factors (many of which are beyond our control) could cause actual results to differ materially from those set forth in the forward-looking statements. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. Arête undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Arête’s expectations.
 
For Further Information Contact:

Arête Investor Relations:
Gerald Kieft
The WSR Group
772-219-7525
IR@theWSRgroup.com

______________________________      
Source: Arete Industries, Inc.