UNITED STATES
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): August 6, 2009 (July 31, 2009)

TETON ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
         
Delaware
  
001-31679
  
84-1482290
(State of incorporation)
  
(Commission File No.)
  
(IRS Employer
       
Identification No.)


600 17th Street, Suite 1600 North
 Denver, CO 80202
 (Address of principal executive offices, including zip code)

(303) 565-4600
 (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):

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
 
 
 
INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

This Current Report on Form 8-K of Teton Energy Corporation (“Teton,” the “Company,” “we,” “us” or “our”), and the documents incorporated by reference, contain both historical and “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, written, oral or otherwise made, represent the Company’s expectation or belief concerning future events. All statements, other than statements of historical fact, are or may be forward-looking statements. For example, statements concerning projections, predictions, expectations, estimates or forecasts, and statements that describe our objectives, future performance, plans or goals are, or may be, forward-looking statements. These forward-looking statements reflect management’s current expectations concerning future results and events and can generally be identified by the use of words such as “may,” “will,” “should,” “could,” “would,” “likely,” “predict,” “potential,” “continue,” “future,” “estimate,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” and other similar words or phrases, as well as statements in the future tense.

Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that may cause our actual results, performance, or achievements to be different from any future results, performance and achievements expressed or implied by these statements. The following important risks and uncertainties could affect our future results, causing those results to differ materially from those expressed in our forward-looking statements:

 
•
  
Our ability to execute our Feasibility Plan in order to sustain our ability to continue as a going concern;
 
•
  
Our ability to service current and future indebtedness and comply with the covenants related to the debt facilities or our ability to receive forbearance therefrom;
 
•
  
General economic and political conditions, including governmental energy policies, tax rates or policies, inflation rates and constrained credit markets;
 
•
  
The market price of, and supply/demand balance for, oil and natural gas;
 
•
  
Our success in completing development and exploration activities, when and if we are able to resume those activities;
 
•
  
Reliance on outside operating companies for drilling and development of our non-operated oil and gas properties;
 
•
  
Expansion and other development trends of the oil and gas industry;
 
•
  
Acquisitions and other business opportunities that may be presented to and pursued by us;
 
•
  
Our ability to integrate our acquisitions into our company structure; and
 
•
  
Changes in applicable laws and regulations.

These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other factors, including unknown or unpredictable ones could also have material adverse effects on our future results.

The forward-looking statements included in this Current Report are made only as of the date set forth on the front of the document. We expressly disclaim any intent or obligation to update any forward-looking statements to reflect new information, subsequent events, changed circumstances, or otherwise.


 
 
 
 

 
Item 8.01    Other Events.

Effective July 31, 2009, the forbearance period related to the interest payment due by Teton Energy Corporation (the “Company”) on its outstanding 10.75% Senior Secured Convertible Debentures (the “Debentures”) has been extended through and including August 25, 2009.

The Company intends to continue to work with the holders of the Debentures towards a more permanent solution, however, there can be no assurance that the Company will be successful in doing so, in which case the Company may be required to seek protection under the United States Bankruptcy Code.
 

 

 
 
 
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.


           
Dated: August 6, 2009
  
TETON ENERGY CORPORATION
  
           
   
By:
  
/s/ James J. Woodcock
  
       
James J. Woodcock
Interim Chief Executive Officer