SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Caland Pierre

(Last)

(First)

(Middle)

C/O LILIS ENERGY, INC.

1900 GRANT STREET, SUITE #720

(Street)

DENVER

80203

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/31/2014

3. Issuer Name and Ticker or Trading Symbol
LILIS ENERGY, INC. [ LLEX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	3,323,223	I	By Wallington Investment Holdings Ltd.⁽¹⁾
Common Stock	608,369	I	By Silvercreek Investment Ltd.⁽²⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
8% Senior Secured 2014 Convertible Debenture	01/31/2014	05/16/2014	Common Stock	1,027,508	$2	I	By Wallington Investment Holdings Ltd.⁽¹⁾
Common Stock Purchase Warrant (right to buy)	05/28/2010	05/28/2015	Common Stock	83,334	$1.5	I	By Wallington Investment Holdings Ltd.⁽¹⁾
Common Stock Purchase Warrant (right to buy)	09/29/2010	09/29/2015	Common Stock	250,000	$2.2	I	By Wallington Investment Holdings Ltd.⁽¹⁾
Common Stock Purchase Warrant (right to buy)	07/23/2014	07/23/2017	Common Stock	850,000	$2.5	I	By Wallington Investment Holdings Ltd.⁽¹⁾
Common Stock Purchase Warrant (right to buy)	08/01/2014	08/01/2017	Common Stock	1,045,091	$2.5	I	By Wallington Investment Holdings Ltd.⁽¹⁾
Common Stock Purchase Warrant (right to buy)	12/01/2014	06/01/2019	Common Stock	25,934	$2.89	I	By Wallington Investment Holdings Ltd.⁽¹⁾

Explanation of Responses:

1. Reporting person controls the investment decisions of Wallington Investment Holdings Ltd.

2. Reporting person controls the investment decisions of Silvercreek Investment Ltd.

Remarks:

EXHIBIT LIST: Exhibit 24.1 Power of Attorney

	/s/ Bruce Feuchter, Attorney-in-Fact for Pierre Caland	06/11/2014
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.