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

                                February 13, 2003
                Date of Report (Date of earliest event reported)



                          WILSHIRE OIL COMPANY OF TEXAS
             (Exact name of Registrant as specified in its charter)


        Delaware                            1-467                84-0513668
 -------------------------------       -----------------     -------------------
(State or other jurisdiction of        (Commission File        (IRS Employer
incorporation or organization)             Number)           Identification No.)


921 Bergen Avenue, Jersey City, New Jersey                    07306
(Address of principal executive offices)                   (Zip Code)


(Registrant's telephone number, including area code)             (201) 420-2796

                                 Not Applicable
         (Former name or former address, if changed since last report.)







ITEM 5. Other Events and Regulation FD Disclosure

         Wilshire Oil Company of Texas today filed a press release regarding the
beneficial ownership of the registrant's common stock by the Estate of Siggi B.
Wilzig,

ITEM 7. Financial Statements and Exhibits

                a. Not applicable.

                b. Not applicable

                c. Exhibits

                The following exhibit is filed with this report:

        Exhibit Number                               Description
    ---------------------------           -------------------------------------
            99.1                          Press release dated February 13, 2003




                                      -2-






                                    SIGNATURE

         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, thereunto duly authorized.


Dated:  February 13, 2003            WILSHIRE OIL COMPANY OF TEXAS.
                                     (Registrant)



                                     By: /s/ Philip Kupperman
                                         ------------------------
                                         Philip Kupperman
                                         President





                                      -3-

EX-99.1

                                                                   Exhibit 99.1


                 WILSHIRE OIL COMPANY OF TEXAS ANNOUNCES REVISED
                         OWNERSHIP BY FORMER CONSULTANT


Jersey City, New Jersey -- February 13, 2003--Wilshire Oil Company of Texas
(AMEX: WOC) announced today that it has determined that its former consultant,
the late Siggi B. Wilzig, owned a larger interest in Wilshire than had been
reported previously. It is estimated that Mr. Wilzig may have beneficially owned
up to 22% of Wilshire at the time of his death on January 7, 2003. Mr. Wilzig's
last reported ownership indicated that he owned slightly under 10% of Wilshire.
The percentage ownership in Wilshire by Mr. Wilzig has no effect on Wilshire's
financial statements.

         Mr. Wilzig's estate is confirming Mr. Wilzig's holdings, and the estate
expects to file updated ownership reports shortly.

                  Wilshire is an American Stock Exchange listed corporation
         engaged in oil and gas exploration and real estate investment
         operations.

                  The projections in this press release are "forward-looking
         statements" within the meaning of the Private Securities Litigation
         Reform Act of 1995. Such forward-looking statements are subject to
         several risks and uncertainties that could cause actual results to
         differ materially from such projections. Such risks and uncertainties
         include the possibility that the new drilling effort may not be
         successful, that the actual amount of reserves to be found will be
         substantially less than anticipated and that the actual annual
         production realized will be substantially less than anticipated, that
         the timing of the anticipated cash flow and the future demand and
         prices for oil and gas will differ from Company expectations. A
         discussion of these and other risks and uncertainties are disclosed in
         the Company's 2001 Form 10-K/A filed with the Securities and Exchange
         Commission.

WILSHIRE OIL COMPANY OF TEXAS 921 Bergen Avenue, Jersey City, New Jersey 07306
Tel: (201) 420-2796