-----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, UL6tcBvEr3xjvOTiicnyhiNc3FA+15o/cbm4kxxOb9SECPtkziLQUJNmHUsAzKs6 zwvZiQdeHI00OsvpxDBu3Q== 0000316704-96-000004.txt : 19960517 0000316704-96-000004.hdr.sgml : 19960517 ACCESSION NUMBER: 0000316704-96-000004 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960331 FILED AS OF DATE: 19960515 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: 96564702 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. 2054 FORM 10Q QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarter Ended March 31, 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 Employee incorporation or organization) Identification No.) 1536 Cole Blvd., Ste #32 _______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 requiredto 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 March 31, 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 ------------------ MARCH 31, 1996 -------------- PART I - FINANCIAL INFORMATION PAGE ---- Item 1. Financial Statements - ----------------------------- Consolidated condensed balance 3 sheet at March 31, 1996 and December 31, 1995. Consolidated statement of 5 operations for the three-month periods ended March 31, 1996 and 1995. Consolidated condensed statement 6 of cash flows for the three-month periods ended March 31, 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 ------------------------------------ March 31, December 31, ____1996__ ____1995____ (Unaudited) (Note)
ASSETS ------ Current Assets: Cash $ 64,579 $ 63,008 Accounts Receivable 78,370 80,130 -------- -------- Total current assets $142,949 $143,138 -------- -------- Property and equipment, at cost: Oil and gas properties - net (successful efforts method) 182,536 220,99 Materials and supplies 45,829 44,92 Other property and equipment - net 238 1,988 ------- ------ Total assets $371,552 $411,04 ========== =========
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) ----------------------------------- March 31, December 31, ____1996___ ____1995____ (Unaudited) (Note)
LIABILITIES AND STOCKHOLDER'S EQUITY ------------------------------------ Current Liabilities: Accounts Payable $ 103,138 $ 79,24 Note Payable - Bank 64,968 84,98 Other Payables 9,600 9,600 --------- -------- Total Current Liabilities 177,706 173,830 --------- -------- Deferred Liability 191,250 160,000 --------- -------- 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 (2,167,757) (2,093,137) --------- --------- Total stockholders' equity 2,596 77,216 --------- --------- Total liabilities and stockholders' equity $ 371,552 $ 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 ------------------------------------ Three Months Ended March 31, ------------ 1996 1995 ------ ------ (Unaudited)
Oil and gas sales $117,235 $135,948 Operating income 2,839 2,839 Interest Income 77 67 Miscellaneous < 54> 305 -------- -------- Total $120,097 $139,159 -------- -------- Expenses: Oil & Gas production 73,227 43,33 Production and windfall profit taxes 6,405 -- Depreciation, depletion and amortization 46,750 16,500 General & Administrative 66,920 69,755 Interest Expense 1,415 -- ------ ------ Total $194,717 $129,586 -------- -------- Income (loss) before taxes $(74,620) $ 9,572 Provision for Income taxes -- < 1,435> Net Income (Loss) before Income Tax Benefit $(74,620) $8,137 -------- ------ Income Tax Benefit -- 1,435 -------- ------ Net Income (loss) $(74,620) $ 9,572 ======== ======= Income per common and common equivalent share $ <1.01> $ <.013> ========= =========
Page 5 BLACK DOME ENERGY CORPORATION AND SUBSIDIARY -------------------------------------------- CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS ---------------------------------------------- Three Months Ended March 31, 1996 1995 ------ ------ (Unaudited)
Net Cash Flows Provided By Operating Activities $(74,620) $ 9,572 Net Cash Used In Investing Activities 56,172 < 6,053> Net Cash Used In Financing Activities 20,019 -- Net Increase(Decrease) in Cash $ 1,571 $ 3,519 ======== ========
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 March 31, 1996, and in the statements of operations and changes in cash flows for the three-month periods ended March 31, 1996 and 1995. Liquidity and Capital Resources - ------------------------------- Cash increased by $1,571 from December 31, 1995 to the end of the first 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 decreased compared to the three-month period in 1995 due to decreased production from the Company's operated oil and gas properties. Gross income from Company owned and operated wells is comparable to the three-month period ended March 31, 1995. Interest income is comparable to the prior period in 1995. Depreciation, Depletion and Amortization (DDA) for the period has increased from the same three-month period in 1995. The Company's exploration expense reflects minimal exploration activity for both periods. Oil and gas production expenses were substantially higher in the three-month period of 1996 due to workover costs. The Company's General and Administrative expense for the quarter ended March 31, 1996, decreased compared to the first 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 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) May 10,1996 (NAME AND TITLE) Edgar J. Huff, President and Chief financial Officer Page 8 EX-27 2
5 3-MOS DEC-31-1995 MAR-31-1996 64,579 0 78,370 0 0 142,949 182,536 0 371,552 177,706 0 73,755 0 0 0 371,552 117,235 120,097 73,227 194,717 0 0 1,415 (74,620) 0 0 0 0 0 (74,620) (.01) (.01)
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