SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): March 3, 2016
DISCOVERY ENERGY CORP.
f/k/a “Santos Resource Corp.”
|(Exact name of registrant as specified in its Charter )|
|(State or other jurisdiction of Incorporation)||(Commission File Number)||(IRS Employer Identification Number)|
One Riverway Drive, Suite 1700
Houston, Texas 77056
|(Address and telephone number of principal executive offices, including zip code)|
|(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 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))|
ITEM 8.01 OTHER EVENTS
On March 3, 2016, Discovery Energy Corp. (the “Company”) received from the South Australian Department of State Development (formerly the Minister for Mineral Resources and Energy) confirmation that the Company’s application for an additional 12-month suspension of the work commitment relating to the Petroleum Exploration License (PEL) 512 covering the Company’s 584,651-acre prospect in South Australia had been approved effective January 19, 2016. Prior to this further suspension, the Company’s remaining work commitments were due to be completed by April 27, 2019.
As further extended, the Company’s remaining work commitments are due to be completed by April 27, 2020, as set out below:
|*||Year 2 ending April 27, 2017 - Conduct a new 3D seismic survey totaling at least 100 kilometers.|
|*||Year 3 ending April 27, 2018 - Acquire new 2D seismic data totaling at least 100 kilometers, acquire 3D seismic data totaling at least 200 square kilometers and drill two wells.|
|*||Year 4 ending April 27, 2019 - Acquire new 3D seismic data totaling at least 200 square kilometers and drill two wells.|
|*||Year 5 ending April 27, 2020 - Drill three wells|
The modification extends the time that the Company has to meet its commitments.
Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Discovery Energy Corp.,|
|f/k/a “Santos Resource Corp.”|
|Date: March 4, 2016||By: /s/ Keith J. McKenzie|
|Keith J. McKenzie,|
|Chief Executive Officer|