Item 1.01 Entry into a Material Definitive Agreement.



Eleventh Amendment to Revolving Credit Agreement
On March 13, 2020, Lilis Energy, Inc. (the "Company") entered into an Eleventh
Amendment (the "Eleventh Amendment") to the Second Amended and Restated Senior
Secured Revolving Credit Agreement, dated October 10, 2018 (as amended from time
to time, the "Revolving Credit Agreement"), among the Company, certain
subsidiaries of the Company, as guarantors, the lenders party thereto, and BMO
Harris Bank N.A., as administrative agent.
As previously disclosed, as a result of the January 17, 2020 redetermination of
the borrowing base under the Revolving Credit Agreement, a borrowing base
deficiency (the "Borrowing Base Deficiency") currently exists under the
Revolving Credit Agreement. The Borrowing Base Deficiency reflects the amount by
which the principal amount of borrowings outstanding under the Revolving Credit
Agreement exceeds the borrowing base as so redetermined. The Borrowing Base
Deficiency was initially in the amount of $25 million, but on February 28, 2020,
the Company paid the Borrowing Base Deficiency down by $17.25 million such that
the Borrowing Base Deficiency is currently $7.75 million. Prior to the Eleventh
Amendment, $1.50 million of the Borrowing Base Deficiency was due to be paid on
March 16, 2020, with a final Borrowing Base Deficiency payment of $6.25 million
due to be paid on April 14, 2020.
The Eleventh Amendment amended the Revolving Credit Agreement to extend the due
date for the $1.50 million installment of the Borrowing Base Deficiency from
March 16, 2020 to March 30, 2020. The due date for the final installment of the
Borrowing Base Deficiency remains April 14, 2020.
The Company is currently considering other transactions to fund the repayment of
the remaining Borrowing Base Deficiency amount.  If the Company is unable to
repay all or any portion of the remaining Borrowing Base Deficiency amount as
and when required under the Revolving Credit Agreement, an event of default
would occur under the Revolving Credit Agreement.
The foregoing description of the terms of the Eleventh Amendment is not complete
and is qualified in its entirety by reference to the full copy of the Eleventh
Amendment filed as Exhibit 10.1 to this Current Report on Form 8-K.
Forward-Looking Statements:
This Current Report on Form 8-K contains forward-looking statements within the
meaning of the federal securities laws. Such statements are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the control of
the Company. These risks include, but are not limited to, the Company's ability
to make the required repayments of the Borrowing Base Deficiency; the ability to
finance the Company's continued exploration, drilling operations and working
capital needs; all the other uncertainties, costs and risks involved in
exploration and development activities; and the other risks identified in the
Company's Annual Report on Form 10-K and its other filings with the Securities
and Exchange Commission. Investors are cautioned that any such statements are
not guarantees of future performance and that actual results or developments may
differ materially from those projected in the forward-looking statements. The
forward-looking statements in this Current Report on Form 8-K are made as of the
date hereof, and the Company does not undertake any obligation to update the
forward-looking statements as a result of new information, future events or
otherwise.
Item 9.01  Financial Statements and Exhibits.

(d) Exhibits


Exhibit
Number      Description
  10.1*       Eleventh Amendment to Second Amended and Restated Credit Agreement,
            dated as of March 13, 2020, among Lilis Energy, Inc., the
            subsidiaries of Lilis Energy, Inc. party thereto as guarantors, BMO
            Harris Bank, N.A., as administrative agent, and the lenders party
            thereto.


* Filed herewith

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