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) December 21, 2006
SOUTH TEXAS OIL COMPANY
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(Exact name of Registrant as specified in charter)
Nevada 0-50732 74-2949620
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification)
2881 CR 2880, Big Foot, TX 78005
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(Address of principal executive offices) (Zip Code)
P.O. Box 340504, Austin, TX 78734
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(Mailing Address) (Zip Code)
210-568-9760 (Telephone) 210-568-9761 (Fax)
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(Issuer's telephone number)
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] Written communication 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 40.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4 (c))
SECTION 2 - FINANCIAL INFORMATION
ITEM 2.01 Completion of Acquisition or Disposition of Assets.
On November 2, 2006, South Texas Oil Company issued a news release reporting
that South Texas Oil Company has signed a Letter of Intent for the purchase of
at least 50% and up to 75% working interest (WI) and 60% Royalty Interest (RI),
in approximately 20,000 acres in the DJ basin in Northeast Colorado at a cost
of $15 million if the full 75% working interest is acquired.
a) On December 20, 2006, South Texas Oil Company acquired half of the 75%
working interest it intends acquiring from Doud Oil & Gas Company in
these leases. The remaining 37.5% working interest is expected to be
acquired in January 2007.
b) South Texas Oil Company has acquired a 37.5% working interest in
approximately 20,000 acres of mineral leases in the DJ basin in
Northeast Colorado.
c) There exists no material relationship other than in respect of the
transaction, between the registrant or any of its affiliates, or any
officer and director and Doud Oil & Gas Company.
d) South Texas Oil Company issued 2,419,335 shares of restricted common
stock for a consideration of $7,500,000 based upon a five day closing
average of the South Texas Oil Company shares as agreed upon when the
original Letter of Intent was signed.
SECTION 8 - OTHER EVENTS
ITEM 8.01 Other Events.
On November 2, 2006, South Texas Oil Company issued a news release reporting
that South Texas Oil Company has signed a Letter of Intent for the purchase of
at least 50% and up to 75% working interest (WI) and 60% royalty Interest (RI),
in approximately 20,000 acres in the DJ basin in Northeast Colorado at a cost
of $15 million if the full 75% working interest is acquired.
On December 21, 2006, South Texas Oil Company issued a news release reporting
that South Texas Oil Company has acquired half of the 75% working interest it
intends acquiring from Doud Oil & Gas Company in these leases. A copy of which
is attached as Exhibit 99.1 hereto and incorporated herein by this reference.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 Financial Statements and Exhibits.
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits
Exhibit Number Description
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99.1 Press Release dated December 21, 2006
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
Date: December 21, 2006
South Texas Oil Company
By: /s/ Murray N. Conradie
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Murray N. Conradie, Chief Executive Officer