8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENTREPORT

Pursuantto Section 13 or 15(d) of the Securities Exchange Act

Date of Report (Date of earliest event reported): July 27, 2021

SPINDLETOPOIL & GAS CO.

(Exact Name of Registrant as Specified in its Charter)

Registrant's telephone number, including area code 972-644-2581

(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:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ('230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ('240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Section 8 – Other Events

Item 8.01. Other Events

On July 27, 2021, Spindletop Oil & Gas Co. (the “Company” or the “Issuer”) announced that its Board of Directors has initiated a review of strategic alternatives to attempt to enhance shareholder value. The strategic alternatives to be considered may include a possible sale of all or a material portion of assets, either in one transaction or a series of transactions, a merger of the Company, or other form of business combination involving the Company and a third party. The purchase of additional assets is the outright sale of the Company or recapitalization of the Company.

No definitive timeline exists for the process, and there can be no assurance that the results of the review process will result in a transaction or other change. It is not expected that there will be further disclosure of developments in the review process unless and until the Board of Directors has approved the specific course of action or has otherwise determined that further disclosure is appropriate or required.

A copy of the announcement is attached as Exhibit “99.1.” The information furnished pursuant to Item 8.01 of this Form 8-K, including Exhibit “99.1” attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no duty or obligation to publicly update or revise the information pursuant to Item 8.01 of this Current Report on Form 8-K.

Section 9 – Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

(d)       Exhibits.

The following exhibit is furnished with this Report:

_________________________

* Furnished herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized.

Dated: July 27, 2021

SPINDLETOP OIL & GAS CO.

By: /s/ Chris Mazzini

Chris Mazzini, President and Chief Executive Officer

EXHIBIT 99.1

SPINDLETOP OIL & GAS CO. Announces Board Review of Strategic Alternatives

July 27, 2021 – 10:00 a.m.

Dallas, Texas / Newswire / July 27, 2021 / Spindletop Oil & Gas Co. (The Company) (OTC: SPND), today announced that its Board of Directors has initiated a review of strategic alternatives to attempt to enhance shareholder value. Strategic alternatives may include a possible sale of all or a material portion of assets, either in one transaction or in a series of transactions, a merger of the Company or other form of business combination involving the Company and a third party, the purchase of additional assets or the outright sale of the Company or recapitalization of the Company.

No definitive timeline has been established for this process and there can be no assurance that the strategic alternatives review process will result in a transaction or other strategic change or outcome. The company does not expect to discuss or disclose further developments regarding the strategic alternatives review process unless and until its Board of Directors has approved a specific course of action or the Company has otherwise determined that further disclosure is appropriate or required by law.

About Spindletop Oil & Gas Co.

Spindletop Oil & Gas Co. (OTC: SPND) is a publicly traded company engaged in the exploration, development, and production of crude oil and natural gas in the United States. The Company operates oil and natural gas wells in several states with a large concentration of production in Texas. For more information, contact Chris Mazzini, President, at cmazzini@spindletopoil.com or visit www.spindletopoil.com. Information on such website referred above in this press release is not incorporated by reference into this press release.

This press release contains"forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E ofthe Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts are forward-looking statements.Forward-looking statements include information concerning our business strategies, strategic alternatives review process, plans and objectives,market potential, future financial performance, planned operational and product improvements, liquidity and other matters. These statementsoften include words such as "believe," "expect," "project," "anticipate," "consider,""explore," "potential," "intend," "plan," "estimate," "target," "seek,""will," "may," "would," "should," "could," "forecasts," "mission,""strive," "more," "goal" or similar expressions. Forward-looking statements are based on our current expectations,beliefs, estimates, projections and assumptions, based on our experience in the industry as well as our perceptions of historical trends,current conditions, expected future developments and other factors we think are appropriate. These statements are expressed in good faithand we believe these judgments are reasonable. However, you should understand that these statements are not guarantees of performanceor results. Our actual results and strategic actions could differ materially from those expressed in the forward-looking statements. Giventhese uncertainties, forward-looking statements should not be relied on in making investment decisions.

EXHIBIT 99.1

Forward-looking statementsare subject to a number of risks, uncertainties and other important factors, many of which are beyond our control that could cause ouractual results and strategic actions to differ materially from those expressed in the forward-looking statements contained in this pressrelease. For a detailed discussion of many of these and other risks and uncertainties, see our Annual Report on Form 10-K for the periodended December 31, 2020, our Quarterly reports on Form 10-Q for the three-month periods ended March 31, 2021, respectively,our Current Reports on Form 8-K and our other filings with the Securities and Exchange Commission. All forward-looking statements containedin this press release are qualified by these cautionary statements. The forward-looking statements contained in this press release speakonly as of the date of this press release. We undertake no obligation, other than as may be required by law, to update or revise any forward-lookingor cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in futureoperating results over time or otherwise. Comparisons of results between current and prior periods are not intended to express any futuretrends, or indications of future performance, unless expressed as such, and should only be viewed as historical data.

The forward-looking statementsin this press release are intended to be subject to the safe harbor protection provided by the Federal securities laws.