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Greka Energy Corp – ‘8-K’ for 7/1/02

On:  Thursday, 7/18/02, at 3:44pm ET   ·   For:  7/1/02   ·   Accession #:  930661-2-2446   ·   File #:  0-20760

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 7/18/02  Greka Energy Corp                 8-K:5,7     7/01/02    5:643K                                   Donnelley RR & So… Co/FA

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     16K 
 2: EX-10.1     Securities Purchase Agreement                       HTML    480K 
 3: EX-10.2     Asset Sale Agreement                                HTML    153K 
 4: EX-10.3     Promissory Note by Greka Smv, Inc.                  HTML     12K 
 5: EX-99.1     News Release                                        HTML     16K 


8-K   —   Current Report


This is an HTML Document rendered as filed.  [ Alternative Formats ]



  Prepared by R.R. Donnelley Financial -- Form 8K  

 
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): July 1, 2002
 

 
GREKA ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
 
Colorado
   
84-1091986
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(IRS Employer
Identification No.)
 
630 Fifth Avenue, Suite 1501, New York, NY
 
10111
(Address of principal executive offices)
 
(Zip Code)
 
Registrant’s telephone number, including area code: (212) 218-4680
 


 
Item 5.    Other Events.
 
On July 1, 2002 GREKA Energy Corporation (“GREKA”) announced that it had institutionally placed $30 million of a secured credit facility to conclude the debt restructuring and to close a material acquisition of oil and gas assets in Santa Maria, California within its Integrated Operations. Of the $30 million proceeds received on June 27, 2002, the Company paid $14.3 million to GMAC Commercial Credit, LLC to retire its term loan, $12 million to Vintage Petroleum, Inc., and the balance toward working capital and closing costs. The Company executed a promissory note for the remaining $6 million purchase price owed to Vintage Petroleum to be paid within twelve months.
 
The Securities Purchase Agreement, Asset Sale Agreement and Promissory Note pertaining to these transactions are filed as Exhibits 10.1, 10.2 and 10.3 hereto, respectively, and the press release announcing these transactions is filed as Exhibit 99.1 hereto.
 
Item 7.    Financial Statements and Exhibits.
 
(c)  The following exhibits are furnished as part of this report:
 
  
Securities Purchase Agreement between GREKA Energy Corporation as borrower, certain of its affiliates as guarantors, and Guggenheim Investment Management, LLC as collateral agent dated June 26, 2002.
  
Asset Sale Agreement between Vintage Petroleum California, Inc. and Greka SMV, Inc. dated May 31, 2001.
  
Promissory Note by Greka SMV, Inc. to Vintage Petroleum California, Inc. dated June 26, 2001.
  
Press release of GREKA Energy Corporation dated June 3, 2002.
 
SIGNATURE
 
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.
 
GREKA ENERGY CORPORATION
By:
 
/s/    RANDEEP S. GREWAL        

   
Randeep S. Grewal, Chairman,
Chief Executive Officer and President
 
Date: July 15, 2001

2

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on:7/18/02
For Period End:7/1/02
6/27/02
6/26/02
6/3/028-K
7/15/01
6/26/01
5/31/01
 List all Filings 
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Filing Submission 0000930661-02-002446   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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