Mirman Abraham is Buying Lilis Energy Inc. (NASDAQ:LLEX) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Lilis Energy Inc. (NASDAQ:LLEX)  reported that Mirman Abraham has picked up 2,801,660 of common stock as of 2017-05-08.

The acquisition brings the aggregate amount owned by Mirman Abraham to a total of 2,801,660 representing less than 5.5% stake in the company.

For those not familiar with the company, Lilis Energy, Inc. is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska. The vertical well produces approximately 690 net million cubic feet (mcf) per day. The well holds the lease to all depths, from surface down to approximately 22,000 feet, including the Wolfcamp, Bone Springs, and Avalon formations.

A glance at Lilis Energy Inc. (NASDAQ:LLEX)’s key stats reveals a current market capitalization of 132.63 Million based on 30.40 Million shares outstanding and a price at last close of $4.26 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2015-05-20, Mcpeak picked up 5,190 at a purchase price of $1.70. This brings their total holding to 12,901 as of the date of the filing.

On the sell side, the most recent transaction saw Sean unload 100,000 shares at a sale price of $3.70. This brings their total holding to 10,650.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Lilis Energy Inc. (NASDAQ:LLEX). as things move forward to see if its progress aligns with these transactions.

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