-----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, Gj+UMPfSX36zNe8QUFNARwLyiv25MDKKy/g9uBJLaq8VPnOjP4hXrsetytNsR/zV NUtlzVRiyMYFCccIzRdIsg== 0001050502-99-000228.txt : 19990430 0001050502-99-000228.hdr.sgml : 19990430 ACCESSION NUMBER: 0001050502-99-000228 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990421 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHAPARRAL RESOURCES INC CENTRAL INDEX KEY: 0000019252 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 840630863 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-07261 FILM NUMBER: 99604364 BUSINESS ADDRESS: STREET 1: 2211 NORFOLK STREET 2: SUITE 1150 CITY: HOUSTON STATE: TX ZIP: 77098 BUSINESS PHONE: 7138077100 MAIL ADDRESS: STREET 1: 621 17TH STREET SUITE 1301 CITY: DENVER STATE: CO ZIP: 80293 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 --------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): April 21, 1999 CHAPARRAL RESOURCES, INC. (Exact Name of Registrant as Specified in Charter) COLORADO 0-7261 84-0630863 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 2211 Norfolk Street, Suite 1150 Houston, Texas 77098 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (713) 807-7100 Item 5. Other Events - -------------------- At a Special Meeting of the Shareholders (the "Special Meeting") of Chaparral Resources, Inc. (the "Registrant") held on April 21, 1999, the shareholders approved a proposal to amend Article Fourth of the Registrant's Amended and Restated Articles of Incorporation (the "Amendment") to effect, as of April 21, 1999, a reverse stock split in which one new share of common stock, par value $0.10 per share, of the Registrant was exchanged for every 60 shares of common stock, par value $0.10 per share, of the Registrant presently authorized, issued, and outstanding (the "Reverse Stock Split"). No scrip or fractional shares certificates were issued in connection with the Reverse Stock Split. Fractional shares resulting from the Reverse Stock Split were rounded upward to the nearest whole share so that no shareholder was deprived of any shares. Approximately 50.2% of the shareholders entitled to notice of and to vote at the Special Meeting voted in favor of the Reverse Stock Split. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. - --------------------------------------------------------------------------- (c) Exhibits. Number Exhibit - ------ ------- 99.1 Press Release, dated April 21, 1999, of Chaparral Resources, Inc. 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. CHAPARRAL RESOURCES, INC. Date: April 29, 1999 By: /s/ Michael B. Young ------------------------------------ Michael B. Young, Treasurer EX-99.1 2 EXHIBIT 99.1 Exhibit 99.1 CHAPARRAL CHAPARRAL RESOURCES, INC. - -------------------------------------------------------------------------------- NEWS RELEASE ***For Immediate Release*** For further information: Natalie S. Hairston 713/807-7100 CHAPARRAL RESOURCES, INC. ANNOUNCES REVERSE STOCK SPLIT AND REINCORPORATION Houston, Texas, April 22, 1999 -- Chaparral Resources, Inc. (NASDAQ: CHAR) announced today that at the Special Meeting of Shareholders held on April 21, 1999, the Company's Shareholders approved proposals to (a) effect a reverse stock split in which one share of the Company's common stock will be exchanged for every 60 shares of Company's outstanding common stock (the "Reverse Stock Split") and (b) reincorporate the Company by changing the state of incorporation from Colorado to Delaware (the " Reincorporation"). The Reverse Stock Split and Reincorporation were effective as of the close of business of April 21, 1999. The Company is also pleased to announce the first sale of oil from the Karakuduk Field in Kazakhstan. The first sale was approximately 95,000 barrels and was consummated on April 8, 1999 through the international market. The Company also announced that It was informed by Karakuduk Munai, Inc. ("KKM"), the joint venture entity through which the Company indirectly owns its interest in the Karakuduk Field, that the owner of the drilling rig currently working in the Karakuduk Field has terminated its contract with Challenger Oil Services, PLC ("Challenger"). Consequently, on April 20, 1999, KKM notified Challenger that KKM was terminating the drilling contract between KKM and Challenger. It is the Company's understanding that KKM is actively pursuing alternative contractual arrangements to continue drilling operations in the Karakuduk Field. Chaparral Resources, Inc. is an international oil and gas exploration and production company. The Company participates in the development of the Karakuduk Field through KKM of which the Company is the operator. The Company owns a 50% beneficial ownership interest in KKM with the other 50% ownership interest being held by Kazakh investors, including KazakhOil, the government-owned oil company. Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, the ability of the Company to secure financing, volatility of oil prices, product demand, market competition, risks inherent in the Company's international operations, imprecision of reserve estimates and the Company's ability to replace and expand oil and gas reserves. These and other risks are described in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. ### -----END PRIVACY-ENHANCED MESSAGE-----