8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                 _______________



                                    FORM 8-K


                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                Date of report (Date of earliest event reported):

                          June 30, 2004 (June 30, 2004)


                          Mission Resources Corporation
               (Exact Name of Registrant as Specified in Charter)


         Delaware                   000-09498                   76-0437769
(State or Other Jurisdiction       (Commission                 (IRS Employer
     of Incorporation)             File Number)              Identification No.)


                                   1331 Lamar
                                   Suite 1455
                            Houston, Texas 77010-3039
              (Address and Zip Code of Principal Executive Offices)


                                 (713) 495-3000
              (Registrant's telephone number, including area code)






Item 5.    Other Events and Required Regulation FD Disclosure.

     On June 30, 2004, the Company issued a press release announcing that that
it has been added to the Russell 3000 Index effective June 25, 2004. The Russell
family of 21 U.S. indexes is designed to be a comprehensive representation of
approximately 98% of the U.S. equity market. The Russell 3000 Index measures the
performance of the 3,000 largest U.S. companies based on total market
capitalization. Annual updates to the Russell indexes are closely followed by
investors because these indexes are now used as a model for more than $365
billion in passive investment funds.

     The text of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.


Item 7.    Financial Statements, Pro Forma Financial Information and Exhibits.

         (a)      Financial Statements of business acquired.

                  None.

         (b)      Pro Forma Financial Information.

                  None.

         (c)      Exhibits.

                  99.1     Press Release

Item 12.   Results of Operations and Financial Condition.

          None.





                                    SIGNATURE

     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.

                                         MISSION RESOURCES CORPORATION

Date: June 30, 2004                      By:   /s/ Ann Kaesrmann
                                               ---------------------------------
                                         Name:     Ann Kaesermann
                                         Title:    Vice President Accounting and
                                                   Investor Relations, CAO

EX-99.1

                                                                    EXHIBIT 99.1

            Mission Resources Added to Russell 3000 Index

    HOUSTON--(BUSINESS WIRE)--June 30, 2004--Mission Resources
Corporation (Nasdaq:MSSN) today announced that it has been added to
the Russell 3000 Index effective June 25, 2004. The Russell family of
21 U.S. indexes is designed to be a comprehensive representation of
approximately 98% of the U.S. equity market. The Russell 3000 Index
measures the performance of the 3,000 largest U.S. companies based on
total market capitalization. Annual updates to the Russell indexes are
closely followed by investors because these indexes are now used as a
model for more than $365 billion in passive investment funds.
    "We are pleased with the validation of our financial and strategic
re-positioning efforts as reflected by the significant increase in our
value during the last year," said Mission Chairman, President and
Chief Executive Officer, Robert L. Cavnar. "We are continuing to
execute our business strategy by focusing on natural gas,
concentrating in our core areas and driving down unit operating
costs."
    About Mission Resources: Mission Resources Corporation is a
Houston-based independent exploration and production company that
drills for, acquires, develops and produces natural gas and crude oil
primarily in the Permian Basin (in West Texas and Southeastern New
Mexico), along the Texas and Louisiana Gulf Coast and in both the
state and federal waters of the Gulf of Mexico.
    This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements are subject to certain risks, trends
and uncertainties that could cause actual results to differ materially
from those projected. Among those risks, trends and uncertainties are
our estimate of the sufficiency of our existing capital sources, our
ability to raise additional capital to fund cash requirements for
future operations, the uncertainties involved in estimating quantities
of proved oil and natural gas reserves, in prospect development and
property acquisitions and in projecting future rates of production,
the timing of development expenditures and drilling of wells, and the
operating hazards attendant to the oil and gas business. In
particular, careful consideration should be given to cautionary
statements made in the various reports the Company has filed with the
Securities and Exchange Commission. Mission undertakes no duty to
update or revise these forward-looking statements.

    CONTACT: Mission Resources Corporation, Houston
             Ann Kaesermann, 713-495-3100