Sec Form 4 Filing - MCPEAK MERRILL A @ LILIS ENERGY, INC. - 2016-01-05

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 MCPEAK MERRILL A 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 _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 216 16TH STREET, SUITE 1350 3. Date of Earliest Transaction (MM/DD/YY) 01/05/2016 (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 Subordinated Convertible Note $ 0.5 01/05/2016 P 01/05/2016 ( 1 ) Common Stock 500,004 ( 1 ) $ 0 500,004 ( 1 ) D Warrant (Right to Buy) $ 0.25 01/05/2016 P 1,000,008 01/05/2016 01/05/2019 Common Stock 1,000,008 $ 0 ( 2 ) 1,000,008 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other MCPEAK MERRILL A 216 16TH STREET, SUITE 1350 DENVER, CO80202 X Signatures /s/ Ariella Fuchs, Attorney-In-Fact for Merrill McPeak 01/07/2016 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Includes the principal amount but does not account for interest. The Subordinated Convertible Note (the "Note") accrues interest at a rate of 12% per annum and matures on June 30, 2016. The outstanding principal and accrued interest on the Note can be converted at any time prior to repayment of the Note. ( 2 )A warrant to purchase 1,000,008 shares of common stock was issued by the Company as additional consideration for the purchase price of the Note.

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).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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