The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Yuma Energy, Inc. on April 24, 2020. To qualify as a qualified bidder, interested parties should submit their bids by May 22, 2020. If the debtor receives any qualified bids then it would hold an auction for its assets on May 29, 2020. The stalking horse bidder would be entitled to a break-up fee of 3% of the cash purchase price and expense reimbursement of $0.15 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for June 8, 2020.