13D Filing: Bienville Argentina Opportunities Master Fund, Lp and Eco-Stim Energy Solutions Inc. (NYSE:ESES)

CUSIP No. 27888D101

13D

Page 11 of 14 Pages

(d)	During the last five years, none of the Reporting Persons have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)

During the last five years, none have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)	Mr. Stimpson, Mr. Thompson, and Mr. Stoltz are citizens of the United States. The jurisdictions for the Argentina Fund 2, the General Partner 2, the Argentina Fund, the General Partner, and the Investment Manager are listed above in subsection a.

Item 3.  Source and Amount of Funds or Other Consideration

The aggregate purchase price for the common stock covered by this Statement is $12,499,447.51. Argentina Fund and Argentina Fund 2 funded the purchase price through working capital. Investment Manager is responsible for voting any proxies with respect to the reported securities on behalf of the Argentina Fund and Argentina Fund 2.

 Item 4.  Purpose of Transaction

The acquisition of the securities set forth in this Schedule 13D is for investment purposes. Mr. Stoltz was appointed to serve as a member of the Issuer’s Board of Directors on March 7, 2016. As further explained in Item 5 below, on April 3, 2017, 1,507,696 shares of the Issuer were transferred by Argentina Fund to Argentina Fund 2 as part of an in-kind distribution of assets by Argentina Fund to certain of its investors who have elected to rollover all or a portion of their investment in Argentina Fund to Argentina Fund 2 via an in-kind contribution of securities to Argentina Fund 2. None of the Reporting Persons have any plans or proposals that would relate to or result in the following:

(a)

The acquisition by any person of additional securities of the issuer, or the disposition of the securities of the issuer;

(b)

An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries;

(c)

A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries, except as described above;

(e)

Any material change in the present capitalization or dividend policy of the issuer;

(f)

Any other material change in the issuer’s business or corporate structure including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940;

(g)

Changes in the issuer’s charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person;

(h)

Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;

(i)

A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or

(j)

Any action similar to those enumerated above.