UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: July 23, 2014
HINTO ENERGY, INC.
-----------------------------------------------------------
(Exact name of registrant as specified in its charter)
Wyoming 000-26317 84-1384961
------------------------------ ---------------- ----------------------
(State or other (Commission File (IRS Employer
jurisdiction of incorporation) Number) Identification Number)
5350 SOUTH ROSLYN STREET, SUITE 400, GREENWOOD VILLAGE, CO 80111
------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(303)-647-4850
------------------------------------------------------------------------
Registrant's telephone number, including area code
------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Check the 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:
[ ] 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-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
EXPLANATORY NOTE
Hinto Energy, Inc., (the "Company"), is filing this Amendment to its Current
Report on Form 8-K/A filed with the Securities and Exchange Commission on July
23, 2014, for the sole purpose of revising the disclosures Section 7, Item 7.01.
This Amendment does not reflect events occurring after the Original Filing
except as noted above. Except for the foregoing amended information, this Form
8-K/A continues to speak as of the date of the Original Filing and the Company
has not otherwise updated disclosures contained therein or herein to reflect
events that occurred at a later date.
SECTION 7 - REGULATION FD
ITEM 7.01 REGULATION FD DISCLOSURE.
----------------------------------
PRESS RELEASE
The information in this Item 7.01 of this Current Report is furnished pursuant
to Item 7.01 and shall not be deemed "filed" for any purpose, including for the
purposes of Section 18 of the Exchange Act, or otherwise subject to the
liabilities of that Section. The information in this Current Report on Form 8-K
shall not be deemed incorporated by reference into any filing under the
Securities Act or the Exchange Act regardless of any general incorporation
language in such filing.
On July 23, 2014, Hinto Energy, Inc.'s ("The Company") made a press release
announcing probable reserve estimates at its Mason Lakes Field in Montana. The
text of the press release is incorporated by reference from the Current Report
on Form 8-K filed with the SEC on July 23, 2014.
Information with respect to the standardized measure of discounted future net
cash flows relating solely to reserves of the Company's Mason Lake Field in
Montana is summarized below. The price used to estimate the probable reserves is
held constant over the life of the reserve. Future production and development
costs are derived based on current costs assuming continuation of existing
economic conditions.
The discounted future net cash flows related to oil and gas reserves are:
Future cash inflows $ 7,176,260
Less future costs:
Operational 1,661,914
Development -
Taxes 789,386
---------------
Future net cash flows 4,724,960
PV 10% discount factor (3,279,842)
===============
Standardized measure of discounted costs
future net cash flows $ 1,445,118
-1-
The volumes disclosed as reserves were estimated in accordance with the
definitions of Rule 4-10(a) of Regulation S-X. The reserves represented were
considered probable.
The estimate of reserves were prepared by an independent third party on our
behalf. The prepared the reserves of our Mason Lakes water flood field were
determined using:
- A comprehensive reservoir and geology study which was done on the
filed in 1996 by the Montana Geological Society, as a reference point
for current basis of recovered and remaining oil in the reservoir:
- The State of Montana's oil and gas website's production reporting for
the field from November 1996 through May 2014;
- A decline rate established for the filed by the Montana Oil and Gas
Commission after holding hearings on the field and evaluation all of
the production reserve data submitted the operator in 1996/1997; and
- Recent production rates, as reported to the Montana Oil and Gas
Commission along with costs as disclosed by the Company in its public
reports.
Based upon the data above the estimates were based upon:
Composite Field Decline - Water flat decline of 13%
40 BOPD initial rate
Uplift case: PV 10%: 11% Tax
2014 Average price of 87.5$/bbl esc@ 3% cap@105$/bbl
OPEX based upon annual rate of $89,395 per year or rounded to $7,500
per month
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
-------------------------------------------
(D) EXHIBITS. The following is a complete list of exhibits filed as part of
this Report. Exhibit numbers correspond to the numbers in the exhibit table of
Item 601 of Regulation S-K.
EXHIBIT NO. DESCRIPTION
--------------------- ---------------------------------------------------
99.1 Press Release, dated July 23, 2014*
* Incorporated by reference from the Current Report on Form 8-K filed
with the SEC on July 23, 2014.
-2-
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.
HINTO ENERGY, INC.
By: /s/ George Harris
-----------------------------------------
George Harris, Chief Executive Officer
Date: January 23, 2015
-3
