Citadel Exploration, Inc (OTCPK:COIL) announced subscription agreements for private placement of 12,500 shares of series A convertible participating preferred shares on February 15, 2018. Each Series A share with par value of $20 is convertible into 100 common shares at a price of $0.20. No commissions were paid in connection with the transaction. The company will issue securities pursuant to exemption of Section 4(2) of the Securities Act of 1933, as amended, and/or the private offering safe harbor provisions of Rule 506 of Regulation D.