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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, DC 20549</B></P>

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

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

<P STYLE="font: 18pt 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; text-align: center">&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; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)&nbsp;of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</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; text-align: center"><B>September 10, 2012 (September 6, 2012)</B></P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>VOYAGER OIL &amp; GAS, INC.</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>

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    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">Montana</TD>
    <TD STYLE="width: 2%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">1-35097</TD>
    <TD STYLE="width: 2%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">77-0639000</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">(State or other jurisdiction of<BR> incorporation)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(IRS Employer<BR> Identification No.)</TD></TR>
</TABLE>
<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>1600 Broadway, Suite 1040<BR>
Denver, Colorado 80202</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(303) 323-0008</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; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;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>

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    <TD STYLE="width: 24px; padding-bottom: 6pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; padding-bottom: 6pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; padding-bottom: 6pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

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    <TD STYLE="width: 24px; padding-bottom: 6pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B>Item&nbsp;1.01&#9;Entry
into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 6, 2012, Emerald WB
LLC (the &ldquo;Subsidiary&rdquo;), an indirect wholly owned subsidiary of Voyager Oil &amp; Gas, Inc. (doing business under
the assumed business name Emerald Oil, Inc.) (the &ldquo;Company&rdquo;), entered into a definitive purchase and sale
agreement (the &ldquo;Agreement&rdquo;) with Slawson Exploration Company, Inc., a Kansas corporation, under which the
Subsidiary has agreed to acquire (the &ldquo;Acquisition&rdquo;) certain oil and gas leaseholds located primarily in McKenzie
County, North Dakota (the&nbsp;&ldquo;Oil and Gas Properties&rdquo;), and various other related rights, interests, equipment
and other assets, including the assignment and assumption of a rig drilling contract (subject to operator consent) and a
well participation. The effective time for the transfer of the leases is September 1, 2012
(the&nbsp;&ldquo;Effective Time&rdquo;). The closing of the Acquisition is expected to take place early in the fourth quarter
2012, subject to the satisfaction of customary closing conditions.</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">The aggregate purchase price for the Acquisition
is $15.6 million, subject to adjustment as described herein. The purchase price is subject
to potential adjustments including, but not limited to, adjustments for certain title defects, and the Subsidiary has agreed to
reimburse the seller for certain reasonable expenses incurred by the seller for permits, title and brokerage work, surface payments
and other expenses directly related to the acquired leases and lands (excluding bonus and rental payments). The seller reserves
certain formations in the Oil and Gas Properties and reserves an overriding royalty interest equal to three percent, which is proportionately
reduced to the extent that the seller owns less than the entire leasehold and to the extent that the leases cover less than the
full fee simple estate in oil, gas and other related hydrocarbons. The Subsidiary has an option to purchase, within one year following
the closing date, the formations reserved to the seller for $1,800 per net leasehold acre.</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">The Agreement contains customary representations
and warranties, covenants and indemnity obligations by the Subsidiary and the seller. The Agreement may be terminated (i) by mutual
agreement of the parties; (ii)&nbsp;by either party if the other party has breached its representations and warranties or failed
to perform its covenants and agreements or if certain other closing conditions are not satisfied, in each case as of the closing
date; and (iii) in the event that the title defects adjustment asserted by the Subsidiary exceeds $700,000, either the Subsidiary
or the seller may terminate the Agreement. Pursuant to the Agreement, the Subsidiary has deposited $300,000 with the seller as
earnest money that will be credited to the purchase price on the completion of the Acquisition and may be forfeited under certain
circumstances, including the Subsidiary&rsquo;s wrongful failure to tender performance at closing.</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">The foregoing description of the Agreement
is a summary only and is qualified in its entirety by reference to the complete text of the Agreement, attached hereto as Exhibit
2.1.</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 7.01&#9;Regulation FD Disclosure.</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">On September 10, 2012, the Company issued
a press release entitled &ldquo;Emerald Oil, Inc. Announces McKenzie County, North Dakota, Operated Acreage Acquisition and Reserve
Report Update,&rdquo; which described the Acquisition and provided additional information about the Oil&nbsp;&amp; Gas Properties
and about the report of the Company&rsquo;s independent petroleum engineer described under Item 8.01 of this report. A copy of
the press release is attached as Exhibit&nbsp;99.1 to this Current Report on Form&nbsp;8-K and is incorporated herein by reference.</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">In accordance with General
Instruction B.2 of Form&nbsp;8-K, the information provided under this Item 7.01 in this Current  Report on Form&nbsp;8-K,
including Exhibit&nbsp;99.1 attached hereto, shall not be deemed &ldquo;filed&rdquo; for purposes of Section&nbsp;18 of the
Securities Exchange Act of 1934, as amended (&ldquo;the Exchange Act&rdquo;), nor shall such information be deemed
incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth
by specific reference in such a filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B>Item 8.01&#9;Other Events.</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">On September 10, 2012, Netherland, Sewell
&amp; Associates, Inc., the independent petroleum engineer of the Company, delivered to the Company an audit report evaluating
the Company&rsquo;s oil and natural gas properties as of June 30, 2012. A copy of the audit report is attached as Exhibit&nbsp;99.2
to this Current Report on Form&nbsp;8-K and is incorporated herein by reference.</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 9.01. &#9;Financial Statements
and Exhibits. </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">(d) Exhibits</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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">The following exhibits are filed in accordance
with the provisions of Item 601 of Regulation S-K:</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 STYLE="width: 7%; text-decoration: underline">Exhibit</TD>
    <TD STYLE="width: 93%; text-decoration: underline">Exhibit Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.1*</TD>
    <TD>Purchase and Sale Agreement, dated as of September 6, 2012, by and between Emerald WB LLC and Slawson Exploration Company, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>23.1</TD>
    <TD>Consent of Netherland Sewell&nbsp;&amp; Associates,&nbsp;Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.1</TD>
    <TD>Press release of Voyager Oil &amp; Gas, Inc. (doing business under the assumed business name Emerald Oil, Inc.) entitled &ldquo;Emerald Oil, Inc. Announces McKenzie County, North Dakota, Operated Acreage Acquisition and Reserve Report Update.&rdquo;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.2</TD>
    <TD>Reserve Estimate Report of Netherland Sewell&nbsp;&amp; Associates,&nbsp;Inc.</TD></TR>
</TABLE>
<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">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Schedules and similar attachments to the Purchase and
Sale Agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company will furnish supplementally a copy
of any omitted schedule or similar attachment to the Securities and Exchange Commission upon request.</TD>
</TR></TABLE>

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



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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 on Form&nbsp;8-K to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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 STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-weight: bold">VOYAGER OIL &amp; GAS, INC.<BR> (Doing business under the assumed business name Emerald Oil, Inc.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: underline">By: /s/ Mitchell R. Thompson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;Mitchell R. Thompson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;Chief Accounting Officer</TD></TR>
</TABLE>
<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">Date: September 10, 2012</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">&nbsp;</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>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></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 STYLE="width: 7%; text-decoration: underline">Exhibit</TD>
    <TD STYLE="width: 93%; text-decoration: underline">Exhibit Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.1*</TD>
    <TD>Purchase and Sale Agreement, dated as of September 6, 2012, by and between Emerald WB LLC and Slawson Exploration Company, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>23.1</TD>
    <TD>Consent of Netherland Sewell&nbsp;&amp; Associates,&nbsp;Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.1</TD>
    <TD>Press release of Voyager Oil &amp; Gas, Inc. (doing business under the assumed business name Emerald Oil, Inc.) entitled &ldquo;Emerald Oil, Inc. Announces McKenzie County, North Dakota, Operated Acreage Acquisition and Reserve Report Update.&rdquo;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.2</TD>
    <TD>Reserve Estimate Report of Netherland Sewell&nbsp;&amp; Associates,&nbsp;Inc.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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



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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Schedules and similar attachments to the Purchase and
Sale Agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company will furnish supplementally a copy
of any omitted schedule or similar attachment to the Securities and Exchange Commission upon request.</TD>
</TR></TABLE>

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[{"type": "8-K", "sequence": "1", "filename": "v323354_8-k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 24980}]
{"company-data": {"conformed-name": "Voyager Oil & Gas, Inc.", "cik": "0001283843", "assigned-sic": "1311", "irs-number": "770639000", "state-of-incorporation": "MT", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-35097", "film-number": "121083852"}, "business-address": {"street1": "1600 BROADWAY", "street2": "SUITE 1040", "city": "DENVER", "state": "CO", "zip": "80202", "phone": "(303) 323-0008"}, "mail-address": {"street1": "1600 BROADWAY", "street2": "SUITE 1040", "city": "DENVER", "state": "CO", "zip": "80202"}, "former-company": [{"former-conformed-name": "ante4, Inc", "date-changed": "20091106"}, {"former-conformed-name": "WPT ENTERPRISES INC", "date-changed": "20040316"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
September 10, 2012 (September 6, 2012)
VOYAGER OIL & GAS, INC.
(Exact name of registrant as specified in
its charter)
Montana
1-35097
77-0639000
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
1600 Broadway, Suite 1040
Denver, Colorado 80202
(Address of principal executive offices,
including zip code)
(303) 323-0008
(Registrant's telephone number, including
area code)
(Former name or former address, if changed
since last report)
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))
Item 1.01	Entry
into a Material Definitive Agreement.
On September 6, 2012, Emerald WB
LLC (the "Subsidiary"), an indirect wholly owned subsidiary of Voyager Oil & Gas, Inc. (doing business under
the assumed business name Emerald Oil, Inc.) (the "Company"), entered into a definitive purchase and sale
agreement (the "Agreement") with Slawson Exploration Company, Inc., a Kansas corporation, under which the
Subsidiary has agreed to acquire (the "Acquisition") certain oil and gas leaseholds located primarily in McKenzie
County, North Dakota (the "Oil and Gas Properties"), and various other related rights, interests, equipment
and other assets, including the assignment and assumption of a rig drilling contract (subject to operator consent) and a
well participation. The effective time for the transfer of the leases is September 1, 2012
(the "Effective Time"). The closing of the Acquisition is expected to take place early in the fourth quarter
2012, subject to the satisfaction of customary closing conditions.
The aggregate purchase price for the Acquisition
is $15.6 million, subject to adjustment as described herein. The purchase price is subject
to potential adjustments including, but not limited to, adjustments for certain title defects, and the Subsidiary has agreed to
reimburse the seller for certain reasonable expenses incurred by the seller for permits, title and brokerage work, surface payments
and other expenses directly related to the acquired leases and lands (excluding bonus and rental payments). The seller reserves
certain formations in the Oil and Gas Properties and reserves an overriding royalty interest equal to three percent, which is proportionately
reduced to the extent that the seller owns less than the entire leasehold and to the extent that the leases cover less than the
full fee simple estate in oil, gas and other related hydrocarbons. The Subsidiary has an option to purchase, within one year following
the closing date, the formations reserved to the seller for $1,800 per net leasehold acre.
The Agreement contains customary representations
and warranties, covenants and indemnity obligations by the Subsidiary and the seller. The Agreement may be terminated (i) by mutual
agreement of the parties; (ii) by either party if the other party has breached its representations and warranties or failed
to perform its covenants and agreements or if certain other closing conditions are not satisfied, in each case as of the closing
date; and (iii) in the event that the title defects adjustment asserted by the Subsidiary exceeds $700,000, either the Subsidiary
or the seller may terminate the Agreement. Pursuant to the Agreement, the Subsidiary has deposited $300,000 with the seller as
earnest money that will be credited to the purchase price on the completion of the Acquisition and may be forfeited under certain
circumstances, including the Subsidiary's wrongful failure to tender performance at closing.
The foregoing description of the Agreement
is a summary only and is qualified in its entirety by reference to the complete text of the Agreement, attached hereto as Exhibit
2.1.
Item 7.01	Regulation FD Disclosure.
On September 10, 2012, the Company issued
a press release entitled "Emerald Oil, Inc. Announces McKenzie County, North Dakota, Operated Acreage Acquisition and Reserve
Report Update," which described the Acquisition and provided additional information about the Oil & Gas Properties
and about the report of the Company's independent petroleum engineer described under Item 8.01 of this report. A copy of
the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
In accordance with General
Instruction B.2 of Form 8-K, the information provided under this Item 7.01 in this Current  Report on Form 8-K,
including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended ("the Exchange Act"), nor shall such information be deemed
incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth
by specific reference in such a filing.
Item 8.01	Other Events.
On September 10, 2012, Netherland, Sewell
& Associates, Inc., the independent petroleum engineer of the Company, delivered to the Company an audit report evaluating
the Company's oil and natural gas properties as of June 30, 2012. A copy of the audit report is attached as Exhibit 99.2
to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. 	Financial Statements
and Exhibits.
(d) Exhibits
The following exhibits are filed in accordance
with the provisions of Item 601 of Regulation S-K:
Exhibit
Exhibit Description
2.1*
Purchase and Sale Agreement, dated as of September 6, 2012, by and between Emerald WB LLC and Slawson Exploration Company, Inc.
23.1
Consent of Netherland Sewell & Associates, Inc.
99.1
Press release of Voyager Oil & Gas, Inc. (doing business under the assumed business name Emerald Oil, Inc.) entitled "Emerald Oil, Inc. Announces McKenzie County, North Dakota, Operated Acreage Acquisition and Reserve Report Update."
99.2
Reserve Estimate Report of Netherland Sewell & Associates, Inc.
*
Schedules and similar attachments to the Purchase and
Sale Agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company will furnish supplementally a copy
of any omitted schedule or similar attachment to the Securities and Exchange Commission upon request.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned
hereunto duly authorized.
VOYAGER OIL & GAS, INC.
(Doing business under the assumed business name Emerald Oil, Inc.)
By: /s/ Mitchell R. Thompson
Mitchell R. Thompson
Chief Accounting Officer
Date: September 10, 2012
EXHIBIT INDEX
Exhibit
Exhibit Description
2.1*
Purchase and Sale Agreement, dated as of September 6, 2012, by and between Emerald WB LLC and Slawson Exploration Company, Inc.
23.1
Consent of Netherland Sewell & Associates, Inc.
99.1
Press release of Voyager Oil & Gas, Inc. (doing business under the assumed business name Emerald Oil, Inc.) entitled "Emerald Oil, Inc. Announces McKenzie County, North Dakota, Operated Acreage Acquisition and Reserve Report Update."
99.2
Reserve Estimate Report of Netherland Sewell & Associates, Inc.
*
Schedules and similar attachments to the Purchase and
Sale Agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company will furnish supplementally a copy
of any omitted schedule or similar attachment to the Securities and Exchange Commission upon request.