8-K 1 a5441924.txt CONTANGO OIL & GAS COMPANY 8-K ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) June 29, 2007 CONTANGO OIL & GAS COMPANY (Exact Name of Registrant as Specified in Its Charter) DELAWARE 001-16317 95-4079863 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 3700 BUFFALO SPEEDWAY, SUITE 960 HOUSTON, TEXAS 77098 (Address of principal executive offices) (713) 960-1901 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ================================================================================ ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On June 29, 2007, Kenneth R. Peak, Chairman and CEO of Contango Oil & Gas Company (the "Company"), approved the bonus amounts for the fiscal year ended June 30, 2007 and increased the annual base salary for the following executive officers of the Company: Name of Officer Fiscal Year 2007 Bonus New Annual Salary Effective Date ------------------------------------------------------------------------------- Marc Duncan $ 350,000 $ 250,000 July 1, 2007 Lesia Bautina $ 300,000 $ 250,000 July 1, 2007 Sergio Castro $ 125,000 $ 200,000 July 1, 2007 The officers shown above include individuals who will be listed as named executive officers in the Company's proxy statement to be filed in connection with its 2007 annual meeting of stockholders. In addition, on June 29, 2007, the Company's Board of Directors approved Mr. Peak's bonus amount for the fiscal year ended June 30, 2007 at $800,000. Mr. Peak's annual salary for fiscal year 2008 will remain at $150,000. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CONTANGO OIL & GAS COMPANY Date: July 6, 2007 By: /s/ KENNETH R. PEAK ---------------------------------------- Kenneth R. Peak Chairman and Chief Executive Officer 3