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) January 3, 2008
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)
769 Highway 95N, Bastrop, TX 78602
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(Address of principal executive offices) (Zip Code)
(512)772-2474 (Telephone) (512)263-5046 (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 1 - REGISTRANT'S BUSINESS AND OPERATIONS
ITEM 1.02 Termination of a Material Definitive Agreement
On November 7, 2007, the Company disclosed in a Form 8-K filing that it was
selling its interests in oil, gas and mineral leases in Atascosa, Frio and
Somerset Counties properties. While the purchase and sale transaction closed
in October 2007, by agreement of the parties the payment of the purchase price
was deferred. On December 29 2007, the parties agreed to cancel the purchase
and sale transaction, without recourse. The Company has not and will not
record a gain, loss or other charge in connection with this transaction or its
cancellation. The cancellation agreement is attached as Exhibit 99.2
SECTION 5. CORPORATE GOVERNANCE AND MANAGEMENT
Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On October 2, 2007, the Company disclosed in a Form 8-K filing that Rickey
Cooksey had joined the Company as its Chief Financial Officer, effective
October 1, 2007. Mr. Cooksey has resigned as the Chief Financial Officer,
effective December 31, 2007, to continue his consulting business in Colorado
and not move his family to Texas. Mr. Cooksey has not had any disagreements
with management or the Company on any matter relating to the Company's
operations, policies or practices. Mr. Cooksey will not receive any severance
compensation, pursuant to the original agreement of the parties that the
initial ninety (90) day term of his employment would be on an "at will" basis.
Mr. Cooksey's resignation letter is attached as Exhibit 99.1.
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
99.1 Resignation Letter - Rickey Cooksey
99.2 Cancellation of Purchase and Sale Agreement
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: January 3, 2008
South Texas Oil Company
By: /s/ Murray N. Conradie
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Murray N. Conradie, Chief Executive Officer