Petrolia Energy Corp: directors' dealings · United States · SEC (Form 4)

About Petrolia Energy Corp

Petrolia Energy Corp. is a U.S. energy company historically associated with SEC reporting and insider-transaction monitoring, and it has been referenced in the U.S. public-markets context tied to NYSE/NASDAQ-listed issuers, although its own securities activity has been centered around the smaller-cap OTC/SEC universe. The company’s operational headquarters were disclosed in Houston, Texas, and the issuer is organized under Texas law. Its corporate history goes back to incorporation in Colorado on January 16, 2002, followed by a strategic pivot into oil and gas exploration and production in 2012 and a formal name change to Petrolia Energy Corporation in 2016. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1368637/000158069518000201/bbls-10k_123117.htm)) From a business-model standpoint, Petrolia Energy has been an upstream oil and gas company focused on exploration, development, and production. The company’s historical strategy emphasized acquiring working interests in existing fields, redeveloping mature assets, and pursuing low-cost operating solutions in established hydrocarbon basins. In SEC filings, management described a focus on the U.S. Southwest and identified conventional onshore assets, including the Minerva-Rockdale Field in Texas, while also reporting a 25% working interest in properties in Saskatchewan and Alberta. This points to a portfolio that has been opportunistic and asset-driven rather than built around a single large core play. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1368637/000158069518000201/bbls-10k_123117.htm)) Competitively, Petrolia should be viewed as a micro-cap upstream name rather than a scaled independent producer. Its competitive position has depended on asset acquisitions, capital availability, and the ability to extract incremental value from mature fields. The company has stated that its activities are primarily dependent on financing, which is an important indicator of balance-sheet sensitivity and execution risk. Its key products/services are straightforward: oil and gas production, field development, lease and working-interest management, and the redevelopment of established assets. In practical terms, that means Petrolia’s economics have been linked to operational uptime, reservoir management, and access to capital, not to downstream integration or large-scale LNG, refining, or midstream infrastructure. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1368637/000158069518000201/bbls-10k_123117.htm)) Recent developments have been dominated by material governance and compliance issues. On May 2, 2025, the SEC noted that Petrolia had been the subject of a Section 12(j) administrative proceeding, had not filed a required periodic report since its Form 10-Q filed on November 15, 2023 for the quarter ended September 30, 2023, and had filed for Chapter 7 bankruptcy on August 6, 2024. The SEC also noted that the company’s securities registration revocation became effective on July 10, 2025. Separately, a Form 4 filed in 2023 showed a large insider disposal by Zel C. Khan, stating that all issued and outstanding shares he owned were transferred in a stock transfer agreement dated April 1, 2023. Taken together, these facts suggest a distressed, highly idiosyncratic situation rather than a normal operating E&P growth story. ([sec.gov](https://www.sec.gov/file/34-102973))