Petrolia Energy (BBLSQ) Form 4 Petrolia Energy / Joel Martin Oppenheim 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^*

Oppenheim Joel Martin

(Last) (First) (Middle)

121 N. POST OAK LANE, APT. 1201

(Street)

HOUSTON TX 77024

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Petrolia Energy Corp [ BBLS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2018

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

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

X	Form filed by One Reporting Person
	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
Common Shares	11/09/2018	11/09/2018	P		175,932(1)	A	$0.06	6,295,122	D
Common Shares (Restricted)	11/13/2018	11/13/2018	A		312,500(2)	A	$0.08	6,607,622	D

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
Warrants	$0.1	09/30/2018	09/30/2018	A		250,000(3)(4)		01/01/2019	01/01/2021	Common	250,000(3)(4)	$0.1	4,425,833	D
Warrants	$0.1	09/30/2018	09/30/2018	A		250,000(4)(5)		09/30/2018	09/30/2021	Common	250,000(4)(5)	$0.1	4,675,833	D
Warrants	$0.1	10/31/2018	10/31/2018	A		625,000(2)(4)		10/31/2018	11/01/2020	Common	625,000(2)(4)	$0.1	5,300,833	D

Explanation of Responses:

1. Mr. Oppenheim acquired these shares in a private third-party transaction at a market value of $0.06/share.

2. Mr. Oppenheim participated in Private Placement #4 at $0.08/share, participants also received 2x warrants for every share, exercisable for 2 years.

3. Mr. Oppenheim receives a 250,000-warrant issuance quarterly as part of his compensation 2018 compensation package for his service on the Board; exercisable for a 24 months period as of January 1, 2019.

4. Each Warrant unit represents a contingent right to receive one share of Petrolia's common stock.

5. The Transactions reported were part of a LOC agreement, where by the reporting person was to receive 250,000 warrants quarterly, exercisable for 3 years. The exercise price of the additional warrants will be based on the average common stock market price over the previous 90 days.

	/s/ Joel M Oppenheim	12/07/2018
	** Signature of Reporting Person	Date
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