Sec Form 4 Filing - Mirman Abraham @ LILIS ENERGY, INC. - 2016-08-24

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Mirman Abraham 2. Issuer Name and Ticker or Trading Symbol LILIS ENERGY, INC. [ LLEX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Executive Officer (Last) (First) (Middle) 216 16TH STREET, SUITE 1350 3. Date of Earliest Transaction (MM/DD/YY) 08/24/2016 (Street) DENVER, CO80202 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Series B 6% Convertible Preferred Stock ( 1 ) 08/24/2016 D 200 ( 2 ) ( 3 ) Common Stock 181,818 ( 4 ) 1,650 I ( 5 ) See footnote ( 5 ) Warrant (Right to Buy) $ 2.5 08/24/2016 D 90,909 ( 6 ) ( 7 ) ( 7 ) Common Stock 90,909 ( 4 ) 1 I ( 5 ) See footnote ( 5 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Mirman Abraham 216 16TH STREET, SUITE 1350 DENVER, CO80202 X Chief Executive Officer Signatures /s/ Ariella Fuchs, Attorney-In-Fact for Abraham Mirman 08/24/2016 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The Series B 6% Convertible Preferred Stock is convertible into the issuer's common stock at a rate determined by dividing the stated value ($1,000) by $1.10. ( 2 )The Series B 6% Convertible Preferred Stock is exercisable immediately upon issuance, subject to certain conditions including the receipt of requisite stockholder approval pursuant to the Certificate of Designation. ( 3 )The Series B 6% Convertible Preferred Stock has no expiration date. ( 4 )The reporting person committed to purchase 1,850 shares of Series B 6% Convertible Preferred Stock and a warrant to purchase 8,409,091 shares of the issuer's common stock for an aggregate purchase price of $1,850,000, subsequent to which the Reporting Person transferred his commitment to purchase 200 shares of Series B 6% Convertible Preferred Stock to Mr. Kevin Nanke, the Issuer's Executive Vice President and Chief Financial Officer which resulted in the disposal of 200 shares of Series B 6% Convertible Preferred Stock and 90,909 shares of common stock underlying the warrant. ( 5 )The Bralina Group LLC, for which the Reporting Person has voting and dispositive control over the securities held by it. ( 6 )Represents underlying shares of common stock. ( 7 )The Warrant has a term of two years and exercisable immediately upon issuance, subject to certain conditions including the receipt of requisite stockholder approval pursuant to the Warrant.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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