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SEC Filings

NT 10-Q
LILIS ENERGY, INC. filed this Form NT 10-Q on 11/16/2015
Entire Document
 
 

 

 

PART II — RULES 12b-25(b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

 

  (a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
  (c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

PART III — NARRATIVE

 

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

Lilis Energy, Inc. (the “Company”), is unable to file its quarterly report on Form 10-Q for the period ended September 30, 2015 (the “Form 10-Q”) within the prescribed time period, because the Company requires additional time to prepare and finalize certain disclosures necessary for the completion of its financial statements.  The delay could not be eliminated without unreasonable effort or expense.  In accordance with Rule 12b-25 under the Securities Exchange Act of 1934, the Company anticipates filing its quarterly report on Form 10-Q no later than five calendar days following the prescribed due date.

 

SEC 1344 (04-09) Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 

PART IV — OTHER INFORMATION

 

(1)

Name and telephone number of person to contact in regard to this notification

 

  Kevin Nanke   303   893-9000
  (Name)   (Area Code)   (Telephone Number)
   
(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).
   
          ☒ Yes    ☐ No
           
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
   
          ☒ Yes    ☐ No
           
  If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
   
 

Total revenues were $61,000 for the three months ended September 30, 2015, as compared to $815,000 for the three months ended September 30, 2014, representing a decrease of $754,000, or 93%. The decrease in revenues was due primarily to a decrease in production volumes relating to the conveyance of properties to Hexagon on September 2, 2014. Further, during the quarter, certain wells were periodically shut in due to mechanical issues. This decrease has been compounded by the 90% drop in realized price per BOE from $64.28 in 2014 to $6.62 in 2015. During the three months ended September 30, 2015 and 2014, oil and gas production amounts were 1,524 and 13,285 BOE, respectively, representing a decrease of 11,761 BOE, or 89%.

 

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