sixth_70-9959

-----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, AjwSM2cIq2fqxq1+LgS/HV3qIndj0DH9xTLDj0540pc+2xhPOfRcWq+v29/96O8u seqRSxGshL9CKb5AQ5NZaQ== 0000070145-03-000066.txt : 20030825 0000070145-03-000066.hdr.sgml : 20030825 20030825143607 ACCESSION NUMBER: 0000070145-03-000066 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20030825 EFFECTIVENESS DATE: 20030825 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL FUEL GAS CO CENTRAL INDEX KEY: 0000070145 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 131086010 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: 1935 Act SEC FILE NUMBER: 070-09959 FILM NUMBER: 03864146 BUSINESS ADDRESS: STREET 1: 10 LAFAYETTE SQ CITY: BUFFALO STATE: NY ZIP: 14203 BUSINESS PHONE: 7168576980 MAIL ADDRESS: STREET 1: 10 LAFAYETTE SQ STREET 2: 10 LAFAYETTE SQ CITY: BUFFALO STATE: NY ZIP: 14203 35-CERT 1 rule24_3q03.htm RULE24_3Q03 sixth_70-9959

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

NATIONAL FUEL GAS COMPANY	SIXTH
HORIZON ENERGY DEVELOPMENT, INC.	CERTIFICATE
HORIZON ENERGY HOLDINGS, INC.	PURSUANT TO
and its subsidiaries	RULE 24

File No. 70-9959
(Public Utility Holding Company Act of 1935)

THIS IS TO CERTIFY, pursuant to Rule 24, that certain transactions proposed by National Fuel Gas Company (“National”), its subsidiary, Horizon Energy Development, Inc. (“Horizon”), Horizon’s subsidiary, Horizon Energy Holdings, Inc. (“Holdings”), and Holding’s subsidiaries (“Intermediate Subsidiaries”), in their Application-Declaration on Form U-1, as amended (File No. 70-9959), have been carried out in accordance with the terms and conditions of said Application-Declaration and the Order (HCAR No. 35-27487, dated December 31, 2001) of the Securities and Exchange Commission (the “Commission”) with respect thereto, and that the following information for the quarter ended June 30, 2003 is herein provided:

1)	A general description of the Development Activities of Horizon or any Intermediate Subsidiary during the quarter and of any exempt wholesale generator or foreign utility company in which National has acquired, directly or indirectly, an ownership interest during the quarter:

Horizon and Intermediate Subsidiaries engaged, directly or indirectly, in one or more of the following Development Activities during the quarter: due diligence and design review; market studies; preliminary engineering; site inspection; preparation of bid proposals, including posting of bid bonds; application for required permits and/or regulatory approvals; acquisition of site options and options on other necessary rights; negotiation and execution of contractual commitments with owners of existing facilities, equipment vendors, construction firms, power purchasers, thermal “hosts,” fuel suppliers and other project contractors; discussion of financing opportunities with lenders and other third-party investors; and such other preliminary activities as may be required.

National did not acquire, directly or indirectly, an ownership interest in any exempt wholesale generator or foreign utility company during the quarter.

2)	Information on Project Services (administrative, operating, technical and management services) performed during the quarter:

Company Providing Service	Company Receiving Service	Type of Service	Total Charges*	At Cost or Fair Market Value
Horizon	Horizon Energy Development, s.r.o.	Technical and management services	$30,050 ¹	Fair market value
Horizon Energy Development, s.r.o.	Horizon	Administrative services	$20,353 ¹	Fair market value
Horizon Energy Development, s.r.o.	United Energy, a.s.	Administrative and operating services	$213,514	Fair market value
United Energy, a.s.	Teplarna Liberec, a.s.	Administrative and management services	$110,450	Fair market value

* Amounts are shown in US$. Original billings may be calculated in Czech Korunas. For the quarter ended June 30, 2003, the average spot exchange rate was CZK27.75/US$1.
¹ Represents amounts accrued during quarter. Under terms of agreements, billings are submitted on an annual basis at the end of the year.

3)	Information regarding new Intermediate Subsidiaries:

	As part of Horizon’s Development Activities in Bulgaria, a new shell Intermediate Subsidiary has been established. This new shell entity -- Horizon Energy Bulgaria Ltd.-- is intended to hold Horizon’s interest in a power project that is in early development stages in and around the city of Sofia, Bulgaria. As of the end of this reporting period, Horizon had invested US$50,000 in Horizon Energy Bulgaria Ltd.

4)	Amount of any Guarantee issued by Horizon or any Intermediate Subsidiary that is not exempt under Rule 45(b) or Rule 52:

	Neither Horizon nor any Intermediate Subsidiary issued any such Guarantee during the quarter.

5)	Horizon financial statements:

	Horizon's balance sheet at June 30, 2003 is attached as Exhibit 1, and Horizon's income statement for the quarter ended June 30, 2003 is attached as Exhibit 2.

IN WITNESS WHEREOF, the undersigned companies have caused this Certificate to be executed as of this 25th day of August, 2003.

	NATIONAL FUEL GAS COMPANY

	By: /s/ R. J. Tanski
	R. J. Tanski
	Controller

	HORIZON ENERGY DEVELOPMENT, INC.

	By: /s/ R. J. Tanski
	R. J. Tanski
	Secretary and Treasurer

	HORIZON ENERGY HOLDINGS, INC.

	By: /s/ R. J. Tanski
	R. J. Tanski
	Secretary and Treasurer

EX-99 3 balance-3q03.htm BALSHT_3Q03 balsheet EXHIBIT 1

HORIZON ENERGY DEVELOPMENT, INC.
BALANCE SHEET
(Unaudited)

                                                              At June 30, 2003
ASSETS
Property Plant & Equipment
   Property Plant & Equipment                                    $370,133,248
   Accumulated D, D & A                                          (149,278,143)
                                                                 -------------
Net Property, Plant & Equipment                                   220,855,105
                                                                 -------------
Current Assets:
   Cash and Temporary Cash Investments                             23,986,776
   Notes Receivable-Intercompany                                      400,000
   Receivables - Net                                                4,422,137
   Accounts Receivable-Intercompany                                   225,077
   Unbilled Utility Revenue                                         5,524,064
   Materials/Supplies - Average Cost                                3,334,387
   Prepayments                                                         20,672
                                                                 -------------
Current Assets                                                     37,913,113
                                                                 -------------
Other Assets                                                          463,671
                                                                 -------------
Total Assets                                                     $259,231,889
                                                                 =============
CAPITALIZATION & LIABILITIES
Capitalization:
   Capital Stock of Subsidiaries                                       $4,750
 Paid in Capital                                                   38,245,591
   Earnings Reinvested in Business                                (16,945,308)
   Accumulated Other Comprehensive Income                          21,098,137
                                                                 -------------
Total Common Stock Equity                                          42,403,170

   Long-Term Debt Net of Current Portion                           11,630,444
   Notes Payable - Intercompany - Long Term                        89,770,000
                                                                 -------------
Total Capitalization                                              143,803,614
                                                                 -------------
Minority Interest in Foreign Subsidiaries                          34,211,954
                                                                 -------------
Liabilities:
   Notes Payable - Intercompany                                    28,500,000
   Long Term Debt Due Current                                       7,357,524
   Accounts Payable - Other                                        17,397,377
   Accounts Payable - Intercompany                                  1,462,827
   Other Accruals & Current Liabilities                             2,427,092
                                                                 -------------
Total Current Liabilities                                          57,144,820
                                                                 -------------
Deferred Credits:
   Accumulated Deferred Income Tax                                 21,406,146
   Other Deferred Credit                                            2,665,355
                                                                 -------------
Total Deferred Credits                                             24,071,501
                                                                 -------------
Total Capitalization & Liabilities                               $259,231,889
                                                                 =============

EX-99 4 income-3q03.htm INCSTMT_3Q03 incomestmt EXHIBIT 2

HORIZON ENERGY DEVELOPMENT, INC.
INCOME STATEMENT
(Unaudited)

                                                            Three Months Ended
                                                              June 30, 2003
                                                            ------------------

Operating Revenue:
  Operating Revenue                                             $17,247,885
                                                                ------------

Operating Expenses:
  Fuel Used in Heat and Electric Generation                      10,819,357
  Operation and Maintenance Expenses                              6,246,187
  Property, Franchise & Other Taxes                                 674,412
  Depreciation, Depletion & Amortization                          3,607,199
                                                                ------------
Operating Expenses                                               21,347,155
                                                                ------------
Operating Loss                                                   (4,099,270)
                                                                ------------

Other Income                                                        286,735
                                                                ------------

Interest Charges                                                  1,969,002
                                                                ------------

Loss Before Income Taxes                                         (5,781,537)
                                                                ------------

Income Taxes - Current                                           (2,181,044)
Income Taxes - Deferred                                             742,513
                                                                ------------
                                                                 (1,438,531)
                                                                ------------

Minority Interest in Foreign Subsidiaries                           877,177
                                                                ------------

Net Loss                                                        ($3,465,829)
                                                                ============

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