American Standard Energy Corp. - 2012-07-05

The Company has entered into an agreement with Geronimo Holding Corporation under which the Company will provide Geronimo 35,400 shares of a newly created Series A Cumulative Convertible Preferred Stock in exchange for the $35 million subordinated Promissory Note issued to Geronimo on March 5, 2012 plus all accrued and unpaid interest to date. Separately, American Standard, along with certain wholly-owned subsidiaries of the Company, entered into an agreement with XOG Operating, LLC under which XOG agreed to accept 4,444,445 shares of American Standard Common Stock at a price per share equal to $2.25 for the satisfaction of $10 million due XOG under certain Joint Interest Billing Statements for projects in which XOG provided drilling and other operational services to American Standard. In combination, the two transactions reduce the Company's outstanding liabilities