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) September 11, 2019
| CITADEL EXPLORATION, INC. | ||||
| (Exact name of registrant as specified in its charter) | ||||
| Nevada | 000-54639 | 27-1550482 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
| 417 31st Street, Unit A, Newport Beach, CA | 92663 | |
| (Address of principal executive offices) | (Zip code) | |
| (949) 612-8040 | ||
| (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:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 7 – Regulation FD
Item 7.01 Regulation FD Disclosure
On September 11, 2019, Citadel Exploration, Inc. (the "Company") announced that the Company’s lender had exercised its right under a notice of default to appoint a 3rd party receiver to manage and operate the Kern Bluff Oil Field. The Company continues, and is open to all viable options, to seek capital to satisfy its debt with the lender. At this time there is no assurance that the Company will be able to find the necessary capital to pay back debt and resume operation of the field.
The Company is disclosing under Item 7.01 of this Current Report on Form 8-K.
The Company is furnishing the information in this Current Report on Form 8-K to comply with Regulation FD. Such information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent as referenced to such filing.
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SIGNATURES
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 hereunto duly authorized.
| CITADEL EXPLORATION, INC. | ||
| By: /s/ Philip McPherson | ||
Philip McPherson |
Date: September 11, 2019
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