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 (Date of earliest event reported): March 31, 2006
NOVA OIL, INC.
(Exact name of registrant as specified in its charter)
Nevada | | 000-32531 | | 91-2028450 |
(State or other
Jurisdiction
of incorporation) | | (Commission File Number) | | (I.R.S. Employer
Identification Number) |
The Riviana Building, 2777 Allen Parkway, Suite 800, Houston, Texas 77024
(Address of Principal Executive Offices)
713-869-6682
(Registrant’s telephone number, including area code)
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 (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On March 31, 2006, Biosource America, Inc. (“Biosource”), a subsidiary of Nova Oil, Inc., entered into an agreement (the “Agreement”) with Scott Petroleum Corporation (“Scott Petroleum”) to design and build a 20 million gallon per year biodiesel production facility in Greenville, Mississippi at a cost of approximately $12,500,000. Under the terms of the Agreement, Biosource agreed to substantially complete the facility within one year of the date of the Agreement and Scott Petroleum made a $2 million deposit to Biosource. The parties also agreed in principle to enter into an agreement for Biosource to provide financing at a later date and to share equally in production generated by the facility.
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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 thereunto duly authorized.
| NOVA OIL, INC. |
| |
| By: | | /s/ Kenneth T. Hern | |
| Name: | Kenneth T. Hern |
| Title: | Chief Executive Officer |
Date: April 6, 2006
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