305B2 1 v427539_305b2.htm 305B2

 

Filing Pursuant to Registration Number 333-192251

 

 

 

securities and exchange commission

Washington, D.C. 20549

__________________________

 

FORM T-1

 

Statement of Eligibility Under

The Trust Indenture Act of 1939 of a

Corporation Designated to Act as Trustee

Check if an Application to Determine Eligibility of

a Trustee Pursuant to Section 305(b)(2) x

_______________________________________________________

 

U.S. BANK NATIONAL ASSOCIATION

(Exact name of Trustee as specified in its charter)

 

31-0841368

I.R.S. Employer Identification No.

 

800 Nicollet Mall

Minneapolis, Minnesota

  

 

55402

(Address of principal executive offices)   (Zip Code)

 

Mauri J. Cowen

U.S. Bank National Association

5555 San Felipe, Suite 1150

Houston, Texas 77056

(713) 235-9206

(Name, address and telephone number of agent for service)

 

Emerald Oil, Inc.

(Issuer with respect to the Securities)

 

Delaware   77-0639000
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification No.)
     

 

200 Columbine Street, Suite 500

Denver, CO

   80206
(Address of Principal Executive Offices)   (Zip Code)

 

Senior Debt Securities

(Title of the Indenture Securities)

 

 

 

 

FORM T-1

 

Item 1.GENERAL INFORMATION. Furnish the following information as to the Trustee.

 

a)Name and address of each examining or supervising authority to which it is subject.
Comptroller of the Currency
Washington, D.C.

 

b)Whether it is authorized to exercise corporate trust powers.

Yes

 

Item 2.AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation.
None

 

Items 3-15Items 3-15 are not applicable because to the best of the Trustee's knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.

 

Item 16.LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification.

 

1. A copy of the Articles of Association of the Trustee.*

 

2. A copy of the certificate of authority of the Trustee to commence business, attached as Exhibit 2.

 

3.A copy of the certificate of authority of the Trustee to exercise corporate trust powers, attached as Exhibit 3.

 

4.A copy of the existing bylaws of the Trustee.**

 

5.A copy of each Indenture referred to in Item 4. Not applicable.

 

6.The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.

 

7.Report of Condition of the Trustee as of September 30, 2015 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.

 

* Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.

 

** Incorporated by reference to Exhibit 25.1 to registration statement on form S-3ASR, Registration Number 333-199863 filed on November 5, 2014.

 

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SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Houston, State of Texas on the 31st of December, 2015.

 

  By: /s/ Mauri J. Cowen
    Mauri J. Cowen
    Vice President

 

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Exhibit 2

 

 

 4 

 

 

Exhibit 3

 

 

 5 

 

 

Exhibit 6

 

CONSENT

 

In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

Dated: December 31, 2015

 

  By: /s/ Mauri J. Cowen
    Mauri J. Cowen
    Vice President

  

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Exhibit 7

 

U.S. Bank National Association

Statement of Financial Condition

As of 9/30/2015

 

($000’s)

 

   9/30/2015 
Assets     
Cash and Balances Due From  $10,415,443 
Depository Institutions     
Securities   104,656,800 
Federal Funds   100,570 
Loans & Lease Financing Receivables   254,216,913 
Fixed Assets   4,639,396 
Intangible Assets   12,997,753 
Other Assets   23,862,998 
Total Assets  $410,889,873 
      
Liabilities     
Deposits  $305,185,303 
Fed Funds   1,491,858 
Treasury Demand Notes   0 
Trading Liabilities   1,227,900 
Other Borrowed Money   45,698,345 
Acceptances   0 
Subordinated Notes and Debentures   3,150,000 
Other Liabilities   11,782,630 
Total Liabilities  $368,536,036 
      
Equity     
Common and Preferred Stock   18,200 
Surplus   14,266,400 
Undivided Profits   27,210,891 
Minority Interest in Subsidiaries   858,346 
Total Equity Capital  $42,353,837 
      
Total Liabilities and Equity Capital  $410,889,873 

 

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