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) February 8, 2007
SOUTH TEXAS OIL COMPANY
(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)
2802 Flintrock Trace, Suite 252, Austin, TX 78738
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(Address of principal executive offices) (Zip Code)
(512)371-4152 (Telephone) (512)263-5046 (Fax)
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(Issuer's telephone number)
2881 CR 2880, Bigfoot, TX 78005
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(Former address if changed since last report)
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 1 - REGISTRANT'S BUSINESS AND OPERATIONS
ITEM 1.01 Entry into a Material Definitive Agreement.
On January 31, 2007, South Texas Oil Company received a 3 year, $15 million
revolving credit facility. The credit facility will be used to further the
company's business strategy.
The credit facility of prime plus 4% will be used for acquisitions, additional
well workovers and expanded drilling programs.
The lender will receive 1,000,000 warrants at $10.00 per share of South Texas
Oil Company common stock as part of the funding commitment.
SECTION 8 - OTHER EVENTS
ITEM 8.01 Other Events.
On February 5, 2007, South Texas Oil Company issued a news release announcing
that South Texas Oil Company had received a $15 million revolving line of
credit. A copy of which is attached as Exhibit 99.6 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 Loan Agreement
99.2 Revolving Credit Note
99.3 Security Agreement
99.4 Subscription Agreement
99.5 Warrant Agreement
99.6 Press Release dated February 5, 2007
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: February 7, 2007
South Texas Oil Company
By: /s/ Murray N. Conradie
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Murray N. Conradie, Chief Executive Officer