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): May 13, 2009
SYNERGY RESOURCES CORPORATION
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(Exact name of Registrant as specified in its charter)
Colorado None 20-2835920
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
20203 Highway 60
Platteville, Colorado 80651
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (970) 737-1073
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N/A
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(Former name or former address if changed since last report)
Check 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)
[ ] 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-14(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 2.01 Completion of Acquisition or Disposition of Assets
On May 13, 2009 Synergy Resources Corporation purchased 120,122 feet of
casing and 34,736 feet of tubing from Petroleum Management LLC for $1,718,967.
As a partial source of funding for the purchase price, Synergy borrowed
$1,161,811 from an unaffiliated bank. The bank loan bears interest at the prime
lending rate plus 1/2%, with a minimum interest rate of 5.5% per year. Interest
is payable quarterly. Although the loan is due on May 8, 2010, if any casing or
tubing is used or sold, the principal amount of loan must be reduced by the
price paid for the casing or tubing used, or the price received from the sale,
as the case may be.
Petroleum Management LLC is controlled by Ed Holloway and William E. Scaff,
Jr. Mr. Holloway and Mr. Scaff are officers and directors of Synergy and
collectively own approximately 41% of Synergy's common stock.
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.
Date: May 13, 2009.
SYNERGY RESOURCES CORPORATION
By: /s/ Ed Holloway
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Ed Holloway, President