Eco-Stim Energy Solutions (ESESQ) Form 4 Eco-Stim Energy Solutions / Emerging Markets Master Fund I L P ACM ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

ACM Emerging Markets Master Fund I L P

(Last) (First) (Middle)

C/O ALBRIGHT CAPITAL MANAGEMENT LLC

601 THIRTEENTH ST, SUITE 1000 SOUTH

(Street)

WASHINGTON, DC 20005

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Eco-Stim Energy Solutions, Inc. [ ESES ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2015

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$4.75	09/18/2015		A		45,000		(1)	09/18/2025	Common Stock	45,000	$4.75	45,000	D(2)(3)

1. Name and Address of Reporting Person^*

ACM Emerging Markets Master Fund I L P

(Last) (First) (Middle)

C/O ALBRIGHT CAPITAL MANAGEMENT LLC

601 THIRTEENTH ST, SUITE 1000 SOUTH

(Street)

WASHINGTON, DC 20005

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

Albright Capital Management LLC

(Last) (First) (Middle)

601 THIRTEENTH ST,

SUITE 1000 SOUTH

(Street)

WASHINGTON, DC 20005

(City) (State) (Zip)

Explanation of Responses:

1. This represents three separate Stock Options, each consisting of the right and option to purchase 15,000 shares of Common Stock of Eco-Stim Energy Solutions, Inc. (the "Issuer"), granted to each of Ahmad Al-Sati, Wai Chan Lap and John Yonemoto, respectively, on September 18, 2015. Each Stock Option vests as to 3,750 shares on each of March 18, 2016, September 18, 2016, March 18, 2017, and September 18, 2017.

2. Ahmad Al-Sati, Wai Chan Lap and John Yonemoto have each irrevocably transferred their right, title and interest under their Stock Option agreements to ACM Emerging Markets Master Fund I, L.P. (the "Fund").

3. Albright Capital Management LLC (the "GP"), as general partner of the Fund, may be deemed to beneficially own the securities reported herein to the extent of its direct or indirect interest in the Fund. Pursuant to Rule 16a-1(a)(4) under the Securities Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the GP is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any securities in excess of its pecuniary interests, if any.

	/s/ Nelson Oliveira	09/25/2015
	/s/ Nelson Oliveira	09/25/2015
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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