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

<P STYLE="font: 10pt 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>October 10, 2012</U></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Armada Oil, Inc.</U></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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of incorporation)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>333-52040</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File Number)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>98-0195748</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer Identification No.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>10777 Westheimer Rd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Suite 1100</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Houston, Texas 77042</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>(800) 676-1006</U></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-size: 10pt">
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-size: 10pt">
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-size: 10pt">
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-size: 10pt">
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION 1. Registrant&rsquo;s Business and Operations</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry into a Material Definitive Agreement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 11, 2012, Armada Oil, Inc. (the
&ldquo;<B>Company</B>&rdquo;) entered into an employment agreement (the &ldquo;<B>Cerna Employment Agreement</B>&rdquo;) with Mr.
James J. Cerna, Jr., pursuant to which Mr. Cerna will continue to serve as the Company&rsquo;s President and Chief Executive Officer.
Under the terms of the Cerna Employment Agreement, Mr. Cerna will be paid an annual salary of $180,000, payable in 24 equal installments,
and a monthly medical insurance reimbursement of up to $1,300 per month beginning on October 1, 2012. The Cerna Employment Agreement
has a term of 3 years. If Mr. Cerna&rsquo;s employment with the Company is terminated prior to the end of 3 years, other than &ldquo;for
cause,&rdquo; as defined in the Cerna Employment Agreement, Mr. Cerna is entitled to a severance payment of up to one year&rsquo;s
salary and medical insurance reimbursement. Additionally, Mr. Cerna is eligible for a cash bonus of up to 100% of his then existing
salary, as determined solely by the Company&rsquo;s Board of Directors after consultation with the Company&rsquo;s Compensation
Committee. A complete copy of the Cerna Employment Agreement is attached as <B><U>Exhibit 10.1</U></B> hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As part of the Cerna Employment Agreement
the Company awarded Mr. Cerna a total of 800,000 option (the &ldquo;<B>Options</B>&rdquo;) to purchase up to an aggregate of 800,000
shares of the Company&rsquo;s common stock; the Options are subject to and shall have such further restrictions, vesting requirements
and exercise provisions as are set forth in the stock option agreement entered into between Mr. Cerna and the Company, a copy of
which is attached as <B><U>Exhibit 10.2</U></B> hereto. Subject to the foregoing the Options vest as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>50,000 options vest immediately upon Mr. Cerna&rsquo;s entry into the Cerna Employment Agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>250,000 options vest upon the one year anniversary of Mr. Cerna&rsquo;s entry into the Cerna Employment Agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>250,000 options vest upon the two year anniversary of Mr. Cerna&rsquo;s entry into the Cerna Employment Agreement; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>250,000 options vest upon the three anniversary of Mr. Cerna&rsquo;s entry into the Cerna Employment Agreement.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SECTION 4. Matters Related to Accountants
and Financial Statements</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 4.01 Changes in Registrant&rsquo;s
Certifying Accountant.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 10, 2012, the Company dismissed
Peterson Sullivan LLP (&ldquo;<B>Peterson Sullivan</B>&rdquo;) as the Company&rsquo;s independent registered public accounting
firm, which dismissal was ratified by the Company&rsquo;s Audit Committee on October 9, 2012.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: black">During the Company&rsquo;s
fiscal years ended March 31, 2012 and March 31, 2011, </FONT>there were no disagreements (as defined in Item 304 of Regulation
S-K) with Peterson Sullivan on any matter of accounting principles or practices, financial statement disclosure, or auditing scope
or procedure, which disagreements, if not resolved to the satisfaction of Peterson Sullivan would have caused it to make reference
in connection with its opinion to the subject matter of the disagreement for (i) the fiscal year ended March 31, 2011, (ii) the
fiscal year ended March 31, 2012 or the interim period through October 9, 2012. The report of Peterson Sullivan for the fiscal
year ended on March 31, 2012, did state that there was substantial doubt about the Company&rsquo;s ability to continue as a going
concern.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 15, 2012, the Company provided
Peterson Sullivan with a copy of the disclosures it is making in response to Item 4.01 on this Form 8-K, and has requested that
Peterson Sullivan furnish it with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the
above statements. A copy of the letter, dated October 15, 2012, is filed as Exhibit 16.1 (which is incorporated by reference herein)
to this Current Report on Form 8-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 9, 2012, the Company&rsquo;s
Audit Committee approved the engagement of GBH CPAs, PC (&ldquo;<B>GBH</B>&rdquo;) as its independent registered public accounting
firm for the Company&rsquo;s fiscal year ending March 31, 2013. On October 10, 2012, the Company engaged GBH as its independent
registered public accounting firm.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">During the fiscal years ended March 31,
2012 and March 31, 2011 and the subsequent interim period through October 9, 2012, the date of engagement of GBH, the Company did
not consult with GBH regarding any matter that was either the subject of a disagreement (as defined in paragraph (a)(1)(iv) of
Item 304 of Regulation S-K and the related instructions thereto) or a reportable event (as described in paragraph (a)(1)(v) of
Item 304 of Regulation S-K). Prior to engaging GBH, the Company consulted with GBH regarding the Company&rsquo;s proposed business
combination, as disclosed in the Company&rsquo;s Form 8-K filed with the Securities and Exchange Commission on October 3, 2012,
to ensure that GBH would be in a position to assist the Company in a timely manner to complete all audit and financial reporting
activities required to effect the proposed business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SECTION 5. Corporate Governance and
Management</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 11, 2012, the Company entered
into the Cerna Employment Agreement as further described in <B>Item 1.01</B> above and incorporated by reference herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION 9. Financial Statements and Exhibits</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following exhibit is being furnished
and shall not be deemed &ldquo;filed&rdquo; with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to
the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act
or the Exchange Act, except to the extent that the Registrant specifically incorporates it by reference:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 10%; border-bottom: windowtext 1pt solid; font-weight: bold">Number</TD>
    <TD NOWRAP STYLE="width: 2%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 88%; border-bottom: windowtext 1pt solid; font-weight: bold">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Employment Agreement dated October 11, 2012, between James J. Cerna, &nbsp;Jr. and Armada Oil, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.2</TD>
    <TD>&nbsp;</TD>
    <TD>Stock Option Agreement dated October 11, 2012, between James J. Cerna, &nbsp;Jr. and Armada Oil, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>16.1</TD>
    <TD>&nbsp;</TD>
    <TD>Letter from Peterson Sullivan LLP dated October 15, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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
on October 15, 2012.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-variant: normal; font-weight: bold"><FONT STYLE="text-transform: uppercase">Armada Oil, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="color: black">By: </FONT></TD>
    <TD STYLE="width: 35%; border-bottom: windowtext 1pt solid; font-style: italic; font-weight: bold">/s/ James J. Cerna, Jr.</TD>
    <TD STYLE="width: 62%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">James J. Cerna, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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{"company-data": {"conformed-name": "Armada Oil, Inc.", "cik": "0001081074", "assigned-sic": "1311", "irs-number": "980195748", "state-of-incorporation": "NV", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-52040", "film-number": "121144397"}, "business-address": {"street1": "1 GATEWAY CENTER", "street2": "SUITE 2600", "city": "NEWARK", "state": "NJ", "zip": "07102", "phone": "800-676-1006"}, "mail-address": {"street1": "1 GATEWAY CENTER", "street2": "SUITE 2600", "city": "NEWARK", "state": "NJ", "zip": "07102"}, "former-company": [{"former-conformed-name": "NDB Energy, Inc.", "date-changed": "20110629"}, {"former-conformed-name": "INTERNATIONAL ENERGY, INC.", "date-changed": "20050630"}, {"former-conformed-name": "E DEAL NET INC", "date-changed": "20001128"}]}
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
October 10, 2012
Date of Report (Date of earliest event reported)
Armada Oil, Inc.
(Exact name of registrant as specified in
its charter)
Nevada
(State or other jurisdiction of incorporation)
333-52040
(Commission File Number)
98-0195748
(I.R.S. Employer Identification No.)
10777 Westheimer Rd.
Suite 1100
Houston, Texas 77042
(Address of principal executive offices)
(800) 676-1006
(Registrant's telephone number, including
area code)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SECTION 1. Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
On October 11, 2012, Armada Oil, Inc. (the
"
Company
") entered into an employment agreement (the "
Cerna Employment Agreement
") with Mr.
James J. Cerna, Jr., pursuant to which Mr. Cerna will continue to serve as the Company's President and Chief Executive Officer.
Under the terms of the Cerna Employment Agreement, Mr. Cerna will be paid an annual salary of $180,000, payable in 24 equal installments,
and a monthly medical insurance reimbursement of up to $1,300 per month beginning on October 1, 2012. The Cerna Employment Agreement
has a term of 3 years. If Mr. Cerna's employment with the Company is terminated prior to the end of 3 years, other than "for
cause," as defined in the Cerna Employment Agreement, Mr. Cerna is entitled to a severance payment of up to one year's
salary and medical insurance reimbursement. Additionally, Mr. Cerna is eligible for a cash bonus of up to 100% of his then existing
salary, as determined solely by the Company's Board of Directors after consultation with the Company's Compensation
Committee. A complete copy of the Cerna Employment Agreement is attached as
Exhibit 10.1
hereto.
As part of the Cerna Employment Agreement
the Company awarded Mr. Cerna a total of 800,000 option (the "
Options
") to purchase up to an aggregate of 800,000
shares of the Company's common stock; the Options are subject to and shall have such further restrictions, vesting requirements
and exercise provisions as are set forth in the stock option agreement entered into between Mr. Cerna and the Company, a copy of
which is attached as
Exhibit 10.2
hereto. Subject to the foregoing the Options vest as follows:
(1)
50,000 options vest immediately upon Mr. Cerna's entry into the Cerna Employment Agreement;
(2)
250,000 options vest upon the one year anniversary of Mr. Cerna's entry into the Cerna Employment Agreement;
(3)
250,000 options vest upon the two year anniversary of Mr. Cerna's entry into the Cerna Employment Agreement; and
(4)
250,000 options vest upon the three anniversary of Mr. Cerna's entry into the Cerna Employment Agreement.
SECTION 4. Matters Related to Accountants
and Financial Statements
Item 4.01 Changes in Registrant's
Certifying Accountant.
On October 10, 2012, the Company dismissed
Peterson Sullivan LLP ("
Peterson Sullivan
") as the Company's independent registered public accounting
firm, which dismissal was ratified by the Company's Audit Committee on October 9, 2012.
During the Company's
fiscal years ended March 31, 2012 and March 31, 2011,
there were no disagreements (as defined in Item 304 of Regulation
S-K) with Peterson Sullivan on any matter of accounting principles or practices, financial statement disclosure, or auditing scope
or procedure, which disagreements, if not resolved to the satisfaction of Peterson Sullivan would have caused it to make reference
in connection with its opinion to the subject matter of the disagreement for (i) the fiscal year ended March 31, 2011, (ii) the
fiscal year ended March 31, 2012 or the interim period through October 9, 2012. The report of Peterson Sullivan for the fiscal
year ended on March 31, 2012, did state that there was substantial doubt about the Company's ability to continue as a going
concern.
On October 15, 2012, the Company provided
Peterson Sullivan with a copy of the disclosures it is making in response to Item 4.01 on this Form 8-K, and has requested that
Peterson Sullivan furnish it with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the
above statements. A copy of the letter, dated October 15, 2012, is filed as Exhibit 16.1 (which is incorporated by reference herein)
to this Current Report on Form 8-K.
On October 9, 2012, the Company's
Audit Committee approved the engagement of GBH CPAs, PC ("
GBH
") as its independent registered public accounting
firm for the Company's fiscal year ending March 31, 2013. On October 10, 2012, the Company engaged GBH as its independent
registered public accounting firm.
During the fiscal years ended March 31,
2012 and March 31, 2011 and the subsequent interim period through October 9, 2012, the date of engagement of GBH, the Company did
not consult with GBH regarding any matter that was either the subject of a disagreement (as defined in paragraph (a)(1)(iv) of
Item 304 of Regulation S-K and the related instructions thereto) or a reportable event (as described in paragraph (a)(1)(v) of
Item 304 of Regulation S-K). Prior to engaging GBH, the Company consulted with GBH regarding the Company's proposed business
combination, as disclosed in the Company's Form 8-K filed with the Securities and Exchange Commission on October 3, 2012,
to ensure that GBH would be in a position to assist the Company in a timely manner to complete all audit and financial reporting
activities required to effect the proposed business combination.
SECTION 5. Corporate Governance and
Management
Item 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 11, 2012, the Company entered
into the Cerna Employment Agreement as further described in
Item 1.01
above and incorporated by reference herein.
SECTION 9. Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
The following exhibit is being furnished
and shall not be deemed "filed" with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to
the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act
or the Exchange Act, except to the extent that the Registrant specifically incorporates it by reference:
Number
Description
10.1
Employment Agreement dated October 11, 2012, between James J. Cerna,  Jr. and Armada Oil, Inc.
10.2
Stock Option Agreement dated October 11, 2012, between James J. Cerna,  Jr. and Armada Oil, Inc.
16.1
Letter from Peterson Sullivan LLP dated October 15, 2012
SIGNATURES
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
on October 15, 2012.
Armada Oil, Inc.
By:
/s/ James J. Cerna, Jr.
James J. Cerna, Jr.
President and Chief Executive Officer