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

SCHEDULE 13D

(Amendment No. 1)*

Under the Securities Exchange Act of 1934

LILIS ENERGY, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

532403102

(CUSIP Number)

United States of America

Tel. No.: (303) 893-9000

(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

January 5, 2016

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 Includes: (i) 110,861 shares of Common Stock held by The Bralina Group, LLC, in which Mr. Mirman has voting and dispositive power; (ii) 110,861 shares of Common Stock issuable upon exercise of warrants to The Bralina Group, LLC, in which Mr. Mirman has voting and dispositive power; (iii) 103,734 shares issuable upon conversion of Series A 8% Convertible Preferred Stock; (iv) 51,868 shares issuable upon exercise of warrants to purchase Common Stock; (v) 1,266,667 options to purchase Common Stock that are currently exercisable, and (vi) 1,500,000 shares of Common Stock issuable upon conversion of a subordinated convertible note (the “Convertible Note”) having a principal amount of $750,000 (excluding the potential conversion of any accrued interest on the Convertible Note). Does not include (i) 1,333,333 options to purchase Common Stock that are subject to vesting in two increments, upon the first and second anniversary of the effective date of Mr. Mirman’s amended and restated employment agreement (March 30, 2016 and March 30, 2017) and (ii) warrants to purchase 3,000,000 shares of Common Stock, exercisable at $0.25 received in connection with the purchase of the Convertible Note, which are not exercisable if the holder owns more than 4.99% of the outstanding Common Stock of Lilis Energy, Inc.

Item 1. Security and Issuer

This Amendment No. 1 (“Amendment No. 1”) to Schedule 13D amends and supplements the statement on Schedule 13D originally filed on March 30, 2015, relating to common stock, $0.0001 par value (the “Shares”) of Lilis Energy, Inc., Inc. (f/k/a Recovery Energy, Inc. (the “Issuer”) having its principal executive office at 260 16^th Street, Suite #1350, Denver, Colorado 80202. Except as specifically provided herein, this Amendment No. 1 does not modify any of the information previously reported on the Schedule 13D,

Item 2. Identity and Background

Item 3. Source and Amount of Funds or Other Consideration

The Reporting Person has acquired beneficial ownership of the Shares triggering an increase over 5% required to be reported on this Statement due to the purchase of the Convertible Note with a principal amount of $750,000 which is convertible immediately into Shares at a conversion price of $0.50. The Convertible Note accrues interest at a rate of 12% per annum and matures on June 30, 2016. The outstanding principal and accrued interest on the Convertible Note can be converted at any time prior to repayment of the Convertible Note. As additional consideration for the purchase of the Convertible Note, the Reporting Person acquired warrants to purchase 3,000,000 Shares, at an exercise price of $0.25, which cannot be exercised until the Reporting Person’s ownership percentage falls below 4.99% of the outstanding Shares.

Item 4. Purpose of Transaction

The Reporting Person has acquired its Shares of the Issuer in connection with the purchase of the Convertible Note (as discussed above) for investment purposes.

The Reporting Person is the Chief Executive Officer and a Director of the Issuer. The Reporting Person does not have any present plans or proposals which relate to or would result in: (i) any acquisition by any person of additional securities of the Issuer, or any disposition of securities of the Issuer; (ii) any extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (iii) any sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (iv) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (v) any material change in the present capitalization or dividend policy of the Issuer; (vi) any other material change in the Issuer’s business or corporate structure; (vii) any change in the Issuer’s charter or bylaws or other actions which may impede the acquisition of control of the Issuer by any person; (viii) any delisting from a national securities exchange or any loss of authorization for quotation in an inter-dealer quotation system of a registered national securities association of a class of securities of the Issuer; (ix) any termination of registration pursuant to Section 12(g)(4) of the Exchange Act of a class of equity securities of the Issuer; or (x) any action similar to any of those enumerated above.

The Reporting Person evaluates his respective investments in the Shares on a continual basis. Notwithstanding the foregoing, the Reporting Person may determine to change his intentions with respect to the Issuer at any time in the future and may, for example, elect (i) to acquire additional Shares in open market or privately negotiated transactions or pursuant to the exercise of stock options or (ii) to dispose of all or a portion of his holdings of Shares. In reaching any determination as to his future course of action, the Reporting Person will take into consideration various factors, such as the Issuer’s business and prospects, other developments concerning the Issuer, other business and investment opportunities available to the Reporting Person, and general economic and stock market conditions, including, but not limited to, the market price of the Shares.

Item 5. Interest in Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

None.

Item 7. Material to Be Filed as Exhibits

None.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

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