UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 12b-25

                           NOTIFICATION OF LATE FILING

                                                            SEC File No: 0-7261
                                                          CUSIP No: 159420 20 7

                                  (Check One):
[X] Form 10-K    [ ] Form 20-F  [ ] Form 11-K  [ ] Form 10-QSB  [ ] Form N-SAR

                  FOR PERIOD ENDED:   December 31, 1997
                                      ------------------

                  [ ] Transition Report on Form 10-KSB
                  [ ] Transition Report on Form 20-F
                  [ ] Transition Report on Form 11-K
                  [ ] Transition Report on Form 10-QSB
                  [ ] 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:

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PART I - REGISTRANT INFORMATION

CHAPARRAL RESOURCES, INC.
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Full Name of Registrant

N/A
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Former Name if Applicable

2211 Norfolk, Suite 1150
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Address of Principal Executive Office (Street and Number)

Houston, Texas 77098
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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 reasons  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-KSB,  Form 20-F, Form 11-K or Form N- SAR,
                    or portion thereof, will be filed on or before the fifteenth
                    calendar  day  following  the  prescribed  due date;  or the
                    subject  quarterly  report  of  transition  report  on  Form
                    10-QSB,  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 the Form  10-KSB,  Form 20-F,
Form 11-K, Form 10-QSB, Form N-SAR, or the transition report or portion thereof,
could not be filed within the  prescribed  time period.  (Attach extra sheets if
needed.)

          Registrant  owns interests in oil and gas properties in a foreign
     country  through a  subsidiary  which has a 50%  interest in a foreign
     entity  that owns the  interests  in the oil and gas  properties.  The
     registrant  has been  advised  that  delays have been  encountered  in
     obtaining  the financial  information  for such  entities.  Therefore,
     personnel of the Registrant  have been unable to complete the required
     financial  information for the fiscal year ended December 31, 1997, in
     order for the  Registrant's  Annual Report on Form 10-K to be filed in
     the prescribed time period.






PART IV - OTHER INFORMATION

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

       Michael B. Young               713                    807-7100
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           (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 the 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.


          Registrant  will  report  net losses of  $2,603,000  for the year
     ended December 31, 1997, and $130,000 for the month ended December 31,
     1996.  Registrant reported a net loss of $2,416,000 for the year ended
     November  30,  1996.  The  losses  were   primarily   related  to  the
     Registrant's foreign operations.

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                            Chaparral Resources, 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:   March 31, 1998                     By :  /s/  Michael B. Young
        --------------                       --------------------------------
                                             Michael B. Young, Treasurer and
                                                               Controller


INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly  authorized  representative.  The name and title of the person
signing  the form  shall  be typed or  printed  beneath  the  signature.  If the
statement is signed on behalf of the registrant by an authorized  representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.


                               ATTENTION

       Intentional misstatements or omissions of fact constitute
           Federal Criminal Violations (See 18 U.S.C. 1001).