<SEC-DOCUMENT>0001104659-24-056678.txt : 20240503
<SEC-HEADER>0001104659-24-056678.hdr.sgml : 20240503
<ACCEPTANCE-DATETIME>20240503082703
ACCESSION NUMBER:		0001104659-24-056678
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240503
DATE AS OF CHANGE:		20240503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BATTALION OIL CORP
		CENTRAL INDEX KEY:			0001282648
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				200700684
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35467
		FILM NUMBER:		24910889

	BUSINESS ADDRESS:	
		STREET 1:		820 GESSNER ROAD
		STREET 2:		SUITE 1100
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		832-538-0300

	MAIL ADDRESS:	
		STREET 1:		820 GESSNER ROAD
		STREET 2:		SUITE 1100
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HALCON RESOURCES CORP
		DATE OF NAME CHANGE:	20120209

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RAM ENERGY RESOURCES INC
		DATE OF NAME CHANGE:	20060518

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TREMISIS ENERGY ACQUISITION CORP
		DATE OF NAME CHANGE:	20040304
</SEC-HEADER>
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<P STYLE="margin: 0">&#160;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&#160;8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&#160;13 or Section&#160;15(d)&#160;of
the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported): <B>May 3, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Battalion Oil Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-35467</B></FONT></TD>
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    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction<BR>
of incorporation)</FONT></TD>
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    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer<BR>
Identification No.)</FONT></TD></TR>
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    Memorial City Plaza<BR> 820 Gessner Road,
    Suite 1100</B></FONT><BR> <B>Houston, TX</B></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&#8217;s telephone number, including
area code:<B>&#160;(832) 538-0300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed since
last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Check the appropriate box below if the Form&#160;8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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Act (17&#160;CFR&#160;230.425)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule&#160;14a-12 under the Exchange
Act (17&#160;CFR&#160;240.14a-12)</TD>
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the Exchange Act (17&#160;CFR&#160;240.14d-2(b))</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under
the Exchange Act (17&#160;CFR&#160;240.13e-4(c))</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Securities registered pursuant to Section&#160;12(b)&#160;of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt; text-align: center; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name&#160;of&#160;each&#160;exchange&#160;on&#160;which&#160;registered</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule&#160;12b-2
of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">Emerging growth company&#160;</FONT><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act.&#160;</FONT><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01 Other Events</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Current Report on Form
8-K refers to that certain Agreement and Plan of Merger, dated December 14, 2023 (as amended from time to time, &#8220;<B><I>Merger Agreement</I></B>&#8221;),
by and among Battalion Oil Corporation, a Delaware corporation (the &#8220;<B><I>Company</I></B>&#8221; or &#8220;<B><I>we</I></B>&#8221;),
Fury Resources, Inc., a Delaware corporation (&#8220;<B><I>Parent</I></B>&#8221;), and San Jacinto Merger Sub, Inc., a Delaware corporation
and a direct, wholly owned subsidiary of Parent (&#8220;<B><I>Merger Sub</I></B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As disclosed in the Company&#8217;s
Current Report on Form 8-K filed with the Securities and Exchange Commission (the &#8220;<B><I>SEC</I></B>&#8221;) on April 29, 2024,
Parent failed to deliver binding contracts (each such contract, individually, an &#8220;<B><I>Equity Financing Subscription Agreement</I></B>&#8221;)
entered into by Parent or its affiliates, which would provide for equity financing for the transaction that would, when taken together
with the aggregate proceeds obtained from other sources of financing available to Parent, be sufficient for Parent to consummate the transactions
contemplated by the Merger Agreement and pay all related fees and expenses (such financing, the &#8220;<B><I>Sufficient Financing</I></B>&#8221;,
and the contracts evidencing Sufficient Financing, collectively, &#8220;<B><I>Qualifying Additional Financing Documents</I></B>&#8221;)
by 5:00 p.m. Central Time on April 26, 2024 (the &#8220;<B><I>Deadline</I></B>&#8221;). Under the terms of the Merger Agreement, the Company
has the right to terminate the Merger Agreement as a result of Parent&#8217;s failure to deliver Qualifying Additional Financing Documents
by the Deadline (the &#8220;<B><I>QAFD Termination Right</I></B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of 7:00 a.m. Central Time
on May 3, 2024, Parent has not delivered all of the Qualifying Additional Financing Documents evidencing the Sufficient Financing. However,
as of 7:00 a.m. Central Time on May 3, 2024, Parent has provided the Company with Equity Financing Subscription Agreements evidencing
agreements by the financing sources party thereto to provide an aggregate amount of equity financing to Parent equal to $160 million.
Of such $160 million equity financing commitments, $10 million has been drawn by Parent and was used to fund the initial $10 million deposit
into escrow at the time the Merger Agreement was signed. As noted in the Company&#8217;s Current Report on Form 8-K filed with the SEC
on January 24, 2024, $9,999,999.99 of such $10 million deposit was released to the Company on January 24, 2024 in connection with the
execution of the First Amendment to the Merger Agreement by the Company, Parent and Merger Sub on January 23, 2024. With respect to the
remaining $150 million of equity financing commitments, under the terms of the applicable Equity Financing Subscription Agreements, the
obligation of the relevant financing sources to fund their portion of the equity financing is conditioned upon the satisfaction of certain
conditions, including Parent entering into Equity Financing Subscription Agreements evidencing an aggregate amount of equity financing
equal to $200 million and the other parties to such Equity Financing Subscription Agreements providing the related equity funding in escrow
concurrently with or prior to the closing of the transactions contemplated by the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s board
of directors (the &#8220;<B><I>Board</I></B>&#8221;) and the special committee of the Board (the &#8220;<B><I>Special Committee</I></B>&#8221;)
continue to evaluate the Company&#8217;s options in light of the failure to deliver the Qualifying Additional Financing Documents by the
Deadline. While the Company has the ability to exercise the QAFD Termination Right under the terms of the Merger Agreement, the Board
and the Special Committee have determined not to exercise the QAFD Termination Right at this time and, in light of the substantial progress
made by Parent, provide Parent additional time to obtain the Sufficient Financing. The Company continues to reserve all of its rights
and remedies under the Merger Agreement and applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For a summary of the material
terms of the Merger Agreement and each of its amendments, please see the Company&#8217;s Current Reports on Forms 8-K filed with the SEC
on December 18, 2023, January 24, 2024, February 6, 2024, February 16, 2024 and April 16, 2024, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Information for Investors and Stockholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This communication is being made in respect of
the proposed transaction involving the Company and Parent. In connection with the proposed transaction, the Company intends to file the
relevant materials with the SEC, including a proxy statement on Schedule 14A and a transaction statement on Schedule 13e-3 (the &#8220;<B><I>Schedule
13e-3</I></B>&#8221;). Promptly after filing its definitive proxy statement with the SEC, the Company will mail the definitive proxy statement
and a proxy card to each stockholder of the Company entitled to vote at the special meeting relating to the proposed transaction. This
communication is not a substitute for the proxy statement, the Schedule 13e-3 or any other document that the Company may file with the
SEC or send to its stockholders in connection with the proposed transaction. The materials to be filed by the Company will be made available
to the Company&#8217;s investors and stockholders at no expense to them and copies may be obtained free of charge on the Company&#8217;s
website at www.battalionoil.com. In addition, all of those materials will be available at no charge on the SEC&#8217;s website at www.sec.gov.
Investors and stockholders of the Company are urged to read the proxy statement, the Schedule 13e-3 and the other relevant materials when
they become available before making any voting or investment decision with respect to the proposed transaction because they contain important
information about the Company and the proposed transaction. The Company and its directors, executive officers, other members of its management
and employees may be deemed to be participants in the solicitation of proxies of the Company stockholders in connection with the proposed
transaction under SEC rules. Investors and stockholders may obtain more detailed information regarding the names, affiliations and interests
of the Company&#8217;s executive officers and directors in the solicitation by reading the Company&#8217;s Annual Report on Form 10-K
for the fiscal year ended December 31, 2023, and the proxy statement, the Schedule 13e-3 and other relevant materials that will be filed
with the SEC in connection with the proposed transaction when they become available. Information concerning the interests of the Company&#8217;s
participants in the solicitation, which may, in some cases, be different than those of the Company&#8217;s stockholders generally, will
be set forth in the proxy statement relating to the proposed transaction and the Schedule 13e-3 when they become available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All statements and assumptions in this communication
that do not directly and exclusively relate to historical facts could be deemed &#8220;forward-looking statements.&#8221; Forward-looking
statements are often identified by the use of words such as &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221;
&#8220;expects,&#8221; &#8220;may,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;forecast,&#8221; &#8220;goal,&#8221; &#8220;intends,&#8221;
&#8220;objective,&#8221; &#8220;plans,&#8221; &#8220;projects,&#8221; &#8220;strategy,&#8221; &#8220;target&#8221; and &#8220;will&#8221;
and similar words and terms or variations of such. These statements represent current intentions, expectations, beliefs or projections,
and no assurance can be given that the results described in such statements will be achieved. Forward-looking statements include, among
other things, statements about the potential benefits of the proposed transaction; the prospective performance and outlook of the Company&#8217;s
business, performance and opportunities; the ability of the parties to complete the proposed transaction and the expected timing of completion
of the proposed transaction; as well as any assumptions underlying any of the foregoing. Such statements are subject to numerous assumptions,
risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many
of which are outside of the Company&#8217;s control. Important factors that could cause actual results to differ materially from those
described in forward-looking statements include, but are not limited to, (i) the risk that the proposed transaction may not be completed
in a timely manner or at all; (ii) the failure to receive, on a timely basis or otherwise, the required approvals of the proposed transaction
by the Company&#8217;s stockholders; (iii) the possibility that any or all of the various conditions to the consummation of the proposed
transaction may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental
entities (or any conditions, limitations or restrictions placed on such approvals); (iv) the possibility that competing offers or acquisition
proposals for the Company will be made; (v) the occurrence of any event, change or other circumstance that could give rise to the termination
of the definitive transaction agreement relating to the proposed transaction, including in circumstances, which would require the Company
to pay a termination fee; (vi) the effect of the announcement or pendency of the proposed transaction on the Company&#8217;s ability to
attract, motivate or retain key executives and employees, its ability to maintain relationships with its customers, suppliers and other
business counterparties, or its operating results and business generally; (vii) risks related to the proposed transaction diverting management&#8217;s
attention from the Company&#8217;s ongoing business operations; (viii) the amount of costs, fees and expenses related to the proposed
transaction; (ix) the risk that the Company&#8217;s stock price may decline significantly if the consummation of the transactions contemplated
by the Merger Agreement are not consummated; (x) the risk of shareholder litigation in connection with the proposed transaction, including
resulting expense or delay; (xi) the risk that the Company fails to obtain Equity Financing Subscription Agreements sufficient to, when
taken together with the aggregate proceeds obtained from other sources of financing available to Parent, be sufficient for Parent to consummate
the transactions contemplated by the Merger Agreement and pay all related fees and expenses, or that a party to a Equity Financing Subscription
Agreement fails to perform its obligations under the applicable terms of its Equity Financing Subscription Agreement, and (xii) other
factors as set forth from time to time in the Company&#8217;s filings with the SEC, including its Annual Report on Form 10-K for the fiscal
year ended December 31, 2023, as may be updated or supplemented by any subsequent Quarterly Reports on Form 10-Q or other filings with
the SEC. Readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. The Company
does not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances
after the date of this communication or to reflect the occurrence of unanticipated events except as required by law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23.1pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BATTALION OIL CORPORATION</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">May 3, 2024</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 47%"><FONT STYLE="font-size: 10pt">/s/ Matthew Steele</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Name: Matthew Steele</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Title:&#160;&#160;&#160;Chief Executive Officer</FONT></TD>
    </TR>
  </TABLE>
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