-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SpoxZk9tC/Pbj90M2Pbyz407RV9y77aW/Kpo3UQ5QBWi1A1tW9BazP4NOREUO1A0 ZnB4HUEu8PxIahQKw6KM2Q== 0001096906-09-001348.txt : 20091116 0001096906-09-001348.hdr.sgml : 20091116 20091116091405 ACCESSION NUMBER: 0001096906-09-001348 CONFORMED SUBMISSION TYPE: NT 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090930 FILED AS OF DATE: 20091116 DATE AS OF CHANGE: 20091116 EFFECTIVENESS DATE: 20091116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAXTON ENERGY INC CENTRAL INDEX KEY: 0001342643 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 201399613 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NT 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-52590 FILM NUMBER: 091183932 BUSINESS ADDRESS: STREET 1: 2533 NORTH CARSON STREET STREET 2: SUITE 6232 CITY: CARSON CITY STATE: NV ZIP: 89706 BUSINESS PHONE: 775-8415049 MAIL ADDRESS: STREET 1: 2533 NORTH CARSON STREET STREET 2: SUITE 6232 CITY: CARSON CITY STATE: NV ZIP: 89706 NT 10-Q 1 paxtonenergynt10q2009-0930.htm PAXTON ENERGY, INC. FORM NT 10-Q (12B-25) FOR THE PERIOD ENDED SEPTEMBER 30, 2009. paxtonenergynt10q2009-0930.htm

 
UNITED STATES
OMB APPROVAL
 
SECURITIES AND EXCHANGE COMMISSION
OMB Number:  3235-0058
   
Expires: August 31, 2009
 
Washington, D.C.  20549
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hours per response  2.50
 
FORM 12b-25
  
   
SEC FILE NUMBER
   
000-52590
 
NOTIFICATION OF LATE FILING
  
   
CUSIP NUMBER
   
70423P 10 6

 
(Check One):  ¨ Form 10-K   o Form 20-F   o Form 11-K   xForm 10-Q   o Form 10-D     o Form N-SAR  o Form N-CSR

For Period Ended:  September 30, 2009
[   ] Transition Report on Form 10-K
[   ] Transition Report on Form 20-F
[   ] Transition Report on Form 11-K
[   ] Transition Report on Form 10-Q
[   ] Transition Report on Form N-SAR
For the Transition Period Ended:

Read Instruction (on back page) Before Preparing Form.  Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
 

PART I -- REGISTRANT INFORMATION
Paxton Energy, Inc.            
Full Name of Registrant
n/a                                          
Former Name if Applicable
2533 North Carson Street, Suite 6232                                  
Address of Principal Executive Office (Street and Number)
Carson City, NV  89706
City, State and Zip Code

 
PART II -- RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed.  (Check box if appropriate)

 
(a)  The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
 
x
(b)  The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
 
(c)  The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III -- NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

Our quarterly report on form 10-Q could not be filed because management requires additional time to compile and verify the data required to be included in the report.

PART IV -- OTHER INFORMATION

(1)
Name and telephone number of person to contact in regard to this notification

Robert Freiheit
  
775
  
841-5049
(Name)
  
(Area Code)
  
(Telephone Number)

(2)
Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed?  If answer is no, identify report(s).
x Yes¨ No

(3)
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
x Yes¨ No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

Oil and gas revenues for the three months and the nine months ended September 30, 2009, are expected to be approximately $3,600 and $11,400, respectively, compared to $12,588 and $49,012 for the three months and the nine months ended September 30, 2008.  Loss from operations for the three months and the nine months ended September 30, 2009 is expected to be approximately $56,000 and $142,000, and net loss is expected to be approximately $108,000 and $275,000 for the three months and the nine months ended September 30, 2009, compared to loss from operations of $1,233,088 and $1,382,806, and net loss of $1,254,991 and $1,434,544 for the three months and the nine months ended September 30, 2008.  The decrease in revenues was principally due to continuing decreased oil and gas production in 2009 compared to 2008 and the lack of success of recent well recompletion efforts.  The decreases in loss from operations and net loss are principally due to a decrease in general and administrative expense and an impairment loss of $1.2 million recognized in the prior year, offset by the effects of decreased production, expense from the change in fair value of warrants, and an increase in interest expense.

 
Paxton Energy, Inc.
(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.


Date:
November 16, 2009
By
/s/ Robert Freiheit
     
Robert Freiheit, President, Chief Executive Officer, and
  Chief Financial Officer

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