-----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, Lpss1g22DAORPzP9aIY6OvJsKuBI6kSXVafPLPD8rGczQ9GVihdyk8ODwRIYl31h L24QRRqjwDqAqB61c3ncJQ== 0000316704-96-000005.txt : 19960809 0000316704-96-000005.hdr.sgml : 19960809 ACCESSION NUMBER: 0000316704-96-000005 CONFORMED SUBMISSION TYPE: 10-Q CONFIRMING COPY: PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960630 FILED AS OF DATE: 19960808 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACK DOME ENERGY CORP CENTRAL INDEX KEY: 0000316704 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 840808397 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-09394 FILM NUMBER: 00000000 BUSINESS ADDRESS: STREET 1: 1536 COLE BLVD. , STE #325 STREET 2: SUITE 325 CITY: GOLDEN STATE: CO ZIP: 80401 BUSINESS PHONE: 303-231-9059 MAIL ADDRESS: STREET 1: 1536 COLE BLVD STREET 2: SUITE 325 CITY: DENVER STATE: CO ZIP: 80401 10-Q 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10Q QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarter Ended June 30, 1996 Commission File Number 0-9394 ___________BLACK DOME ENERGY CORPORATION_____________ (Exact name of registrant as specified in its charter) _____________Colorado____________ __________84-0808397_______ (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 1536 Cole Blvd., Ste #325 _______Golden,_Colorado_______ __________80401____________ (Address of principal executive (Zip code) offices) Registrant's telephone number, including area code: (303)231-9059 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. __X__ Yes _____ No At June 30, 1996, 73,755 shares of no par value common stock (the registrant's only class of voting stock) were outstanding. Page 1 BLACK DOME ENERGY CORPORATION INDEX TO FORM 10-Q JUNE 30, 1996 PART I - FINANCIAL INFORMATION PAGE Item 1. Financial Statements. Consolidated condensed balance 3 sheet at June 30, 1996 and December 31, 1995. Consolidated statement of 5 operations for the six-month periods ended June 30, 1996 and 1995. Consolidated condensed statement 6 of cash flows for the six-month periods ended June 30, 1996 and 1995 Item 2. Management's Discussion and 7 Analysis of Financial Conditions and Results of Operations. PART II - OTHER INFORMATION 8 ------------------------------ The financial information furnished in this Form 10-Q reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position of the Company and results of its operations for the interim periods presented. Page 2 PART I - FINANCIAL INFORMATION Item 1. Financial Statements BLACK DOME ENERGY CORPORATION AND SUBSIDIARY -------------------------------------------- CONSOLIDATED CONDENSED BALANCE SHEET ------------------------------------
June 30, December 31, ____1996_____ ____1995____ (Unaudited) (Note) ASSETS ------ Current Assets: Cash $134,762 $ 63,008 Accounts Receivable 81,926 80,130 -------- -------- Total current assets $216,688 $143,138 -------- -------- Property and equipment, at cost: Oil and gas properties - net (successful efforts method) 105,108 220,994 Materials and supplies 45,952 44,926 Other property and equipment - net 238 1,988 ------- ------- Total assets $ 367,986 $ 411,046 ========= =========
Note: The balance sheet at December 31, 1995 has been taken from the audited financial statements at that date, and condensed. Page 3 BLACK DOME ENERGY CORPORATION AND SUBSIDIARY CONSOLIDATED BALANCE SHEET (CONT'D) --------------------------------------------
June 30, December 31, ____1996___ ____1995____ (Unaudited) (Note) LIABILITIES_AND_STOCKHOLDER'S_EQUITY ------------------------------------ Current Liabilities: Accounts Payable $ 79,275 $ 79,243 Note Payable - Bank 53,297 84,987 Other Payables 9,600 9,600 ------- ------- Total Current Liabilities 142,172 173,830 ------- ------- Deferred Liability 222,500 160,000 ------- ------- Stockholders' Equity: Common stock; no par value; authorized 10,000,000 shares, issued and outstanding 73,755 and 73,455 shares, respectively 2,170,353 2,170,353 Accumulated deficit (2,167,039) (2,093,137) ----------- ----------- Total stockholders' equity 3,314 77,216 ----------- ----------- Total liabilities and stockholders' equity $ 367,986 $ 411,046 ============ ============
Note: The balance sheet at December 31, 1995 has been taken from the audited financial statements at that date, and condensed. Page 4 BLACK DOME ENERGY CORPORATION AND SUBSIDIARY CONSOLIDATED STATEMENT OF OPERATIONS --------------------------------------------
Six Months Ended June 30, 1996 1995 --------------------- (Unaudited) Revenue: Oil and gas sales $296,226 $223,177 Operating income 5,678 5,678 Interest Income 158 198 Miscellaneous -- 248 -------- -------- Total $302,062 $229,301 -------- -------- Expenses: Oil & Gas production 104,409 96,726 Production and windfall profit taxes 16,640 13,435 Depreciation, depletion and amortization 83,500 33,000 General & Administrative 171,415 135,265 Total $375,964 $278,426 -------- -------- Income (loss) before taxes $<73,902> $<49,125> Provision for Income taxes -- -- Net Income (Loss) before Income Tax Benefit $<73,902> $<49,125> --------- --------- Income Tax Benefit -- -- Net Income (loss) $<73,902> $<49,125> ======== ======== Income per common and common equivalent share $ <1.00> $ <.67> ========= ========= Page 5 BLACK DOME ENERGY CORPORATION AND SUBSIDIARY CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS ----------------------------------------------
Six Months Ended June 30, ------------------ 1996 1995 (Unaudited) Net Cash Flows Provided By Operating Activities $<73,902> $<49,125> Net Cash Used In Investing Activities 118,880 28,767 Net Cash Used In Financing Activities 26,776 -- ------- ------- Net Increase(Decrease) in Cash $ 71,754 $<20,358> ======== ========
Page 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. ------------------------------------------------- General - ------- This discussion and analysis covers variations in the balance sheets December 31, 1995, and June 30, 1996, and in the statements of operations and changes in cash flows for the six-month periods ended June 30, 1996 and 1995. Liquidity_and_Capital_Resources - ------------------------------- Cash increased by $71,754 from December 31, 1995 to the end of the second quarter, 1996. This increase in cash was attributable primarily to the maintenance and recompletion of existing oil and gas properties. Cash flows and current revenues are estimated to be sufficient to meet anticipated operating requirements for more than one year. Results_of_Operations - --------------------- Oil and gas sales have increased compared to the six-month period in 1995 due to increased production from the Company's operated oil and gas properties. Gross income from Company owned and operated wells is comparable to the six-month period ended June 30, 1995. Interest income is comparable to the prior period in 1995. Depreciation, Depletion and Amortization (DDA) for the period has increased from the same six-month period in 1995. The Company's exploration expense reflects minimal exploration activity for both periods. Oil and gas production expenses are comparable to the six-month period of 1996. The Company's General and Administrative expense for the quarter ended June 30, 1996, increased compared to the second quarter of 1995. Management is attempting to contain general and administrative expenses by fully utilizing its existing personnel. Page 7 PART II - OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K. (a) Exhibits: None (b) Reports: None Form EX-27 Financial Data Schedule SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized. (Registrant) BLACK DOME ENERGY CORPORATION BY (Signature) /s/ Edgar J. Huff (Date) August 6, 1996 (Name and Title) Edgar J. Huff, President and Chief Financial Officer Page 8 EX-27 2
5 3-MOS DEC-31-1996 JUN-30-1996 134,762 0 81,926 0 0 216,688 105,108 0 367,986 138,402 0 73,755 0 0 0 367,986 296,226 302,062 204,549 375,964 0 0 0 (73,902) 0 0 0 0 0 (73,902) (1.00) (1.00)
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