Paul L. Kessler - 25 Aug 2023 Form 4 Insider Report for Prairie Operating Co. (PROP)

Role: Director, 10%+ Owner
Signature: /s/ Paul L. Kessler
Issuer symbol: PROP
Transactions as of: 25 Aug 2023
Net transactions value: $0
Form type: 4
Filing time: 29 Aug 2023, 18:39:38 UTC
Previous filing: 16 Jun 2023
Next filing: 13 Sep 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	CRKR	Common Stock						92,857	25 Aug 2023	Direct
holding	CRKR	Common Stock						28,435,712	25 Aug 2023	By affiliates	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CRKR	Restricted Stock Units	Award	$0	+196,078		$0.000000	196,078	25 Aug 2023	Common Stock	196,078		Direct	F1, F2
holding	CRKR	Warrant						14,285,714	25 Aug 2023	Warrant	14,285,714		By affiliates	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive (a) with respect to 60% of the RSUs, one share of common stock, par value $0.01 per share, of the Issuer ("Common Stock"), and (b) with respect to 40% of the RSUs, either one share of Common Stock or an amount of cash equal to the fair market value of one share of Common Stock.
F2	The RSUs, granted on 8/25/23, vest 100% on May 3, 2024; 196,078 shares of common stock underlie the RSUs
F3	Mr. Kessler has voting and dispositive control over the following securities: (i) 17,500,522 shares of common stock held by Bristol Investment Fund, Ltd., a Cayman Islands exempted company ("BIF") (managed by Bristol Capital Advisors, LLC, a Delaware LLC) and (ii) 10,935,190 shares of common stock held by Bristol Capital, LLC, a Delaware LLC ("BC"). BIF also holds warrants to purchase a total of 14,285,714 shares of common stock of the Issuer (following May 2023 merger with Creek Road Miners, Inc.)