SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 21, 2000
GREKA Energy Corporation
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(Exact name of registrant as specified in its charter)
Colorado 0-20760 84-1091986
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
630 Fifth Avenue, Suite 1501, New York, NY 10111
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 218-4680
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Item 5. Other Events.
On June 21, 2000, Greka AM, Inc., a wholly-owned subsidiary of Greka
Energy Corporation (Greka) and Greka as guarantor, entered into a credit and
guarantee agreement with Canadian Imperial Bank of Commerce and CIBC World
Markets Corp.
The agreement provides that Greka AM may borrow up to $47.5 million
from Canadian Imperial Bank upon the satisfaction by Greka AM of the terms and
conditions of the agreement. The financing is secured by Greka AM's interest in
North American oil and gas properties.
The press release announcing this transaction is filed as Exhibit 99.1
hereto.
Item 7. Financial Statements and Exhibits.
(c) The following exhibits are furnished as part of this report:
Exhibit 99.1 Press release of Greka Energy Corporation dated
June 21, 2000.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 5, 2000 GREKA ENERGY CORPORATION
By: /s/ Randeep S. Grewal
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Randeep S. Grewal, Chairman, Chief
Executive Officer and President
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