-----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, Ud8rtSkbIm6TGcryF3g3rQMzPyqwXffyJH45J4u91u2mcHO/o8ZcK+AFg4OIxWMt bCYdu3f4kPgMdkFaaGj/VQ== 0000950116-97-001053.txt : 19970528 0000950116-97-001053.hdr.sgml : 19970528 ACCESSION NUMBER: 0000950116-97-001053 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970516 ITEM INFORMATION: Other events FILED AS OF DATE: 19970527 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CASTLE ENERGY CORP CENTRAL INDEX KEY: 0000709355 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] IRS NUMBER: 760035225 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10990 FILM NUMBER: 97614387 BUSINESS ADDRESS: STREET 1: ONE RADNOR CORPORATE CTR STE 250 STREET 2: 100 MATSONFORD RD CITY: RADNOR STATE: PA ZIP: 19087 BUSINESS PHONE: 6109959400 MAIL ADDRESS: STREET 1: ONE RADNOR CORPORATE CENTER SUITE 250 STREET 2: 100 MATSONFORD CITY: RADNOR STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: MINDEN OIL & GAS INC/NEW DATE OF NAME CHANGE: 19861117 FORMER COMPANY: FORMER CONFORMED NAME: MINDEN HOLDING CO DATE OF NAME CHANGE: 19830310 8-K 1 - ------------------------------------------------------------------------------- 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): May 16, 1997 CASTLE ENERGY CORPORATION (Exact Name of Registrant as Specified in Charter) DELAWARE (State or Other Jurisdiction of Incorporation or Organization) 0-10990 76-0035225 (Commission File Number) (I.R.S. Employer Identification No.) One Radnor Corporate Center, Suite 250, 100 Matsonford Road, Radnor, PA 19087 - ------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (610) 995-9400 (Registrant's telephone number, including area code) (Former Name or Former Address, if Changed Since Last Report) - -------------------------------------------------------------------------------- Castle Energy Corporation (the "Registrant") submits the following information: ITEM 5. Other Events On May 16, 1997, the Registrant entered into agreements to sell its Texas oil and gas properties and pipeline to Union Pacific Resources Company. A copy of the news release issued by the Registrant on May 19, 1997 is attached as Exhibit 99.1 to this report. ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits Exhibit Page Number Description No. ------- ----------- ---- 99.1 Castle Energy Corporation Press Release, dated May 19, 1997 4 2 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 thereunto duly authorized. CASTLE ENERGY CORPORATION Date: May 23, 1997 By: /s/ RICHARD E. STAEDTLER --------------------------- ----------------------- Richard E. Staedtler Chief Financial Officer 3 EX-99.1 2 EXHIBIT 99.1 EXHIBIT 99.1 NEWS Contact: Joseph L. Castle II Castle Energy Corporation (610) 995-9400 CASTLE ENERGY ANNOUNCES SALE OF EAST TEXAS ASSETS TO UNION PACIFIC RESOURCES COMPANY RADNOR, PA, May 19, 1997 -- Castle Energy Corporation* (Nasdaq-NNM:CECX) (the "Company") announced today that it has entered into an agreement to sell its Rusk County, Texas oil and gas properties and pipeline to Union Pacific Resources Company for a purchase price totaling approximately $54 million. Closing is expected before the end of the month but is subject to customary consents and conditions. Joseph L. Castle II, Chairman and Chief Executive Officer, indicated that Castle would still retain two operating segments after the sale: the gas marketing operations relating to the Lone Star Contract and its non-Texas exploration and production operations. Mr. Castle also indicated that the Company expects to use a portion of the sale proceeds to retire bank debt and that the Board is considering alternatives for the use of the proceeds remaining from the sale and the cash to be generated from the Lone Star Contract which terminates at May 31, 1999. Prior to closing, the Company, through its various subsidiaries, owns a gas sales contract with Lone Star Gas Company, a 77-mile intrastate pipeline in Rusk County, Texas, and related gas contracts and interests. The Company also owns interests in over 425 wells and is the operator of approximately 350 wells throughout the United States. - -------- *Castle Energy Corporation is not affiliated with Castle Oil Corporation. -----END PRIVACY-ENHANCED MESSAGE-----