SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-C

                 REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
                          INTERDEALER QUOTATION SYSTEM

                  Filed pursuant to Section 13 or 15(d) of the
                 Securities Exchange Act of 1934 and Rule 13a-17
                              or 15d-17 thereunder

                           Chaparral Resources, Inc.
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                 (Exact name of issuer as specified in charter)

              621-17th Street, Suite 1301, Denver, Colorado 80293
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                    (Address of principal executive office)

Issuer's telephone number, including area code:   (303) 293-2340

I.  CHANGE IN NUMBER OF SHARES OUTSTANDING

     Indicate  any change  (increase or decrease) of 5% or more in the number of
shares outstanding:

         1.       Title of security:    $0.10 par value common stock

         2.       Number of shares outstanding before the change:  26,869,192

         3.       Number of shares outstanding after the change:   36,744,192

         4.       Effective date of change:   April 2, 4 and 5, 1996

         5.       Method change:
                    Specify  method  (such  as  merger,  acquisition,  exchange,
               distribution,  stock split,  reverse split,  acquisition of stock
               for treasury, etc.)

                    Issuance  of  75,000  shares  upon  exercise  of a  warrant,
               issuance of 9,200,000 shares pursuant to a private  placement and
               issuance of 600,000 shares upon conversion of promissory notes.

         Give brief description of transaction:

               On April 2, 1996,  75,000 shares were issued upon the exercise of
          a warrant. On April 4, 1996 and April 5, 1996,  subscribers  purchased
          9,200,000  shares  of common  stock  pursuant  to a private  placement
          memorandum  dated March 4, 1996.  Effective  April 5, 1996, the issuer
          issued 600,000 shares of common stock upon  conversion of the $300,000
          of principal of two outstanding promissory notes.

II. CHANGE IN NAME OF ISSUER

         1.       Name prior to change:

         2.       Name after change:

         3.       Effective date of charter amendment changing name:

         4.       Date of shareholder approval of change, if required:

Date:     April 9, 1996
                                             CHAPARRAL RESOURCES, INC.

                                             /s/ Matthew R. Hoovler       
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                                             Matthew R. Hoovler, Vice President
                                             (Officer's signature and title)