6-K: Report of foreign issuer [Rules 13a-16 and 15d-16]
Published on
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a – 16 OR 15d – 16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For the
month of September 2010
Commission
File No. 0-53646
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Eagleford Energy Inc.
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(Registrant’s
name)
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1
King Street West, Suite 1505
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Toronto, Ontario, Canada M5H
1A1
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(Address
of principal executive office)
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Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40F
Form 20-F
x
Form 40-F ¨
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
TABLE
OF CONTENTS
1. Press
Release of Registrant dated September 8, 2010 as filed on SEDAR on September 9,
2010.
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 thereunto
duly authorized.
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Dated: September
13, 2010
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EAGLEFORD
ENERGY INC.
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By:
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/s/ James Cassina
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Name: James
Cassina
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Title: President
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ITEM 1
EAGLEFORD
ENERGY INC.
FOR
IMMEDIATE RELEASE
Eagleford Energy Closes
Zavala County Acquisitions
Toronto, September 8, 2010 –
Eagleford Energy Inc. (OTCBB “EFRDF”) (“Eagleford Energy” or the "Company”),
announces that on August 31, 2010 it closed the acquisition of Dyami
Energy LLC a Texas limited liability corporation (“Dyami Energy”) with mineral
interests in two acreage blocks in Zavala County, Texas (the “Dyami
Acquisition”). At closing, Eagleford Energy issued 3,418,467 units of the
Company at US$0.90 per unit in exchange for 100% of the issued and outstanding
membership interests of Dyami Energy and assumed US$960,000 of Dyami Energy debt
by way of a 6% secured promissory note payable. Each unit is comprised of one
common share and one-half a purchase warrant. Each full warrant is exercisable
into one additional common share at US$1.00 per share on or before August 31,
2014.
In
addition, on August 31, 2010 the Company completed its previously announced June
14, 2010 acquisition which had closed in escrow. The Company acquired a 10%
working interest before payout and a 7.5% working interest after payout in a
mineral lease comprising approximately 2,629 gross acres of land in Zavala
County, Texas for consideration of USD $200,000, satisfied by $25,000 paid in
cash and a $175,000, 5% secured promissory note (the “Note”). The parties agreed
to modify the Note payment due dates as follows: $100,000 of principal together
with all accrued interest is due and payable on February 28, 2011 and $75,000 of
principal together with all accrued interest is due and payable on August 31,
2011.
Giving
effect to the Dyami Acquisition, the Company’s Zavala County, Texas mineral
property interests include a 85% working interest before payout (69% working
interest after payout) in the Matthews Lease comprising approximately 2,629
gross acres of land and working interests ranging from 90% to 97% in the Murphy
Lease comprising approximately 2,637 gross acres (collectively “the
Leases”).
The
Leases are located in Zavala County which is part of the Maverick Basin of
Southwest Texas and downdip from the United States Geological Studies north
boundary of the Smackover-Austin-Eagle Ford total petroleum system.
Eric
Johnson, VP Operations at Dyami Energy stated, “We are excited by the potential
for hydrocarbon production from our existing acreage blocks. Both leases
are in prime areas of the Eagle Ford Shale oil window as indicated by the
recent results of Petrohawk’s (Petrohawk Energy Corporation NYSE: HK) announced
355 barrels a day Mustang Ranch “C” #1H well southwest of our Matthews Lease and
Chesapeake’s (Chesapeake Energy Corporation NYSE: CHK) recently announced
initial production of 930 barrels a day from its Traylor North 1-H well,
located southwest of our Murphy Lease. The successes of the majors in
neighbouring leases and the blanket nature of the Eagle Ford Shale support our
own data and correlative logs indicating we are on track to have our own
successes. We are also looking forward to expanding the play by testing
the Edwards formation below the Eagle Ford and analyzing fresh data on a heavy
oil field found on our Matthews Lease, where prior engineering studies delineate
approximately 150 million barrels of heavy oil in several San Miguel stacked
sands.”
There are
approximately 29.7 million shares issued and outstanding in the capital of the
Company after giving effect to the issuance of shares associated with closing
the Dyami Acquisition of which 1.7 million are held in escrow pending
confirmation of 100,000 barrels of oil or natural gas equivalent of proven
reserves on the Murphy Lease or below the San Miguel formation on the Mathews
Lease.
1 King
Street West, Suite 1505, Toronto, ON, Canada Telephone: 416 364 4039, Facsimile:
416 364-8244
For
further information, please contact:
Eagleford
Energy Inc.
Investor
Relations
Telephone:
877-723-5542
Facsimile:
416 364-8244
About Eagleford Energy
Inc.
Eagleford
Energy Inc. is a growth orientated oil and gas company with a focus on growing
hydrocarbon reserves, cash flow, and net asset value per share through
exploration and production of mineral properties in South Texas. The Company is
actively pursuing leases and drilling opportunities in Texas and throughout the
region with a primary objective of obtaining high-demand Eagle Ford Shale
acreage for follow up exploration and production.
Certain
information regarding the Company in this news release may constitute
forward-looking statements under applicable securities laws. The forward-looking
information includes, without limitation, projections or estimates made by us
and our management in connection with our business operations. Various
assumptions were used in drawing the conclusions or making the forecasts and
projections contained in the forward-looking information contained in this press
release, which assumptions are based on management analysis of historical
trends, experience, current conditions and expected future developments
pertaining to the Company and the industry in which it operates as well as
certain assumptions as specifically outlined in the release above.
Forward-looking information is based on current expectations, estimates and
projections that involve a number of risks, which could cause actual results to
vary and in some instances to differ materially from those anticipated by the
Company and described in the forward-looking information contained in this press
release. Undue reliance should not be placed on forward-looking
information, which is not a guarantee of performance and is subject to a number
of risks or uncertainties. Readers are cautioned that the foregoing list
of risk factors is not exhaustive. Forward-looking information is based on
the estimates and opinions of the Company’s management at the time the
information is released and the Company disclaims any intent or obligation to
update publicly any such forward-looking information, whether as a result of new
information, future events or otherwise, other than as expressly required by
applicable securities laws.
1 King
Street West, Suite 1505, Toronto, ON, Canada Telephone: 416 364 4039, Facsimile:
416 364-8244