Material Event (Form 8-K)

Item 8.01 - Other Events

On June 10, 2025, Spindletop Oil & Gas Co. (the "Company" or "Spindletop") purchased from an individual who approached the Company, 141,573 shares of Common Stock, par value $0.01 per share of the Company as a "block" at a price of $2.48 per share in cash (a total of $351,101.04 ). The shares purchased as Treasury Stock constituted approximately 2.1% of the 6,739,943 shares of the Common Stock of the Company outstanding at March 31, 2025. The Company has no affiliation with the individual and has had no known prior transactions with the individual. The Company has no formal stock repurchase agreement or plan, but has in the past repurchased small amounts of stock from former employees and others.