-----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, MChPQDMz+ZO6bWZ+sj9zEoNFrT+b8AEf/vvOebuIhcW0Wdh40y3Uh+iXA1E+RvMf ih6jgMmALqQk9j9oK0CPpA== 0001010549-06-000185.txt : 20060403 0001010549-06-000185.hdr.sgml : 20060403 20060331173722 ACCESSION NUMBER: 0001010549-06-000185 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060331 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060403 DATE AS OF CHANGE: 20060331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLUE DOLPHIN ENERGY CO CENTRAL INDEX KEY: 0000793306 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 731268729 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-15905 FILM NUMBER: 06730317 BUSINESS ADDRESS: STREET 1: 801 TRAVIS SUITE 2100 CITY: HOUSTON STATE: TX ZIP: 77002-5729 BUSINESS PHONE: 7132277660 MAIL ADDRESS: STREET 1: 11 GREENWAY PLAZA SUITE 1606 CITY: HOUSTON STATE: TX ZIP: 77046 FORMER COMPANY: FORMER CONFORMED NAME: MUSTANG RESOURCES CORP DATE OF NAME CHANGE: 19900122 FORMER COMPANY: FORMER CONFORMED NAME: ZIM ENERGY CORP DATE OF NAME CHANGE: 19870921 8-K 1 bluedol8k033106.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Date of Report: (Date of earliest event reported): March 31, 2006 (March 30, 2006) Blue Dolphin Energy Company (Exact name of registrant as specified in its charter) Delaware 0-15905 73-1268729 (State of Incorporation) (Commission file Number) (IRS Employer Identification No.) 801 Travis, Suite 2100 Houston, Texas 77002 (Address of Registrant's principal executive offices) (713) 227-7660 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |_| Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On March 30, 2006, Blue Dolphin Energy Company, a Delaware corporation ("Blue Dolphin"), issued a press release reporting its earnings for the quarter and year ended December 31, 2005. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits 99.1 Press Release issued March 30, 2006. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: March 31, 2006. BLUE DOLPHIN ENERGY COMPANY /s/ Gregory W. Starks --------------------------- By: Gregory W. Starks Treasurer INDEX TO EXHIBITS Exhibit Description of Exhibit - ------- ---------------------- 99.1 Press Release issued March 30, 2006. EX-99.1 2 bluedol8kex991033106.txt PRESS RELEASE ISSUED MARCH 30, 2006 EXHIBIT 99.1 NEWS RELEASE ------------ FOR IMMEDIATE RELEASE March 30, 2006 Houston, Texas - Blue Dolphin Energy Company (NASDAQ Symbol: BDCO) BLUE DOLPHIN ENERGY COMPANY REPORTS FOURTH QUARTER AND YEAR END RESULTS Blue Dolphin Energy Company ("Blue Dolphin") reported net income of $909,198 on revenues of $1,675,156 for the quarter ended December 31, 2005, compared to a net loss of $616,827 on revenues of $475,341 for the quarter ended December 31, 2004. Fourth quarter 2005 results improved primarily due to increased revenues from the sale of oil and gas of approximately $1,245,000. (In thousands, except per share amounts) Quarter Ended December 31, ------------- Net Change 2005 2004 2005 vs 2004 --------- ------- ------------ Revenues $ 1,675 $ 475 $ 1,200 Net income (loss) $ 909 $ (617) $ 1,526 Net income (loss) per common share Basic $ 0.09 $ (0.09) $ 0.18 Diluted $ 0.09 $ (0.09) $ 0.18 For the year ended December 31, 2005, the Company reported net income of $541,386 on revenues of $4,511,183, compared to a net loss of $2,500,334 on revenues of $1,435,646 for the year ended December 31, 2004. The improvement in annual 2005 results was primarily due to increased revenues from the sale of oil and gas of approximately $2,740,000 and increased pipeline operations revenues of approximately $361,000. (In thousands, except per share amounts) Year Ended December 31, ------------- Net Change 2005 2004 2005 vs 2004 --------- ------- ------------ Revenues $ 4,511 $ 1,436 $ 3,057 Net income (loss) $ 541 $(2,500) $ 3,041 Net income (loss) per common share Basic $ 0.06 $ (0.37) $ 0.43 Diluted $ 0.06 $ (0.37) $ 0.43 There are currently 11,140,734 shares of common stock issued and outstanding. Blue Dolphin Energy Company is engaged in the gathering and transportation of natural gas and condensate and the development and production of oil and gas properties. Questions should be directed to Gregory W. Starks, Treasurer, at the Company's offices in Houston, Texas, 713-227-7660. For further information see our Home Page at http://www.blue-dolphin.com. Certain of the statements included in this press release, which express a belief, expectation or intention, as well as those regarding future financial performance or results, or which are not historical facts, are "forward-looking" statements as that term is defined in the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The words "expect", "plan", "believe", "anticipate", "project", "estimate", and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance or events and such statements involve a number of risks, uncertainties and assumptions, including but not limited to industry conditions, prices of crude oil and natural gas, regulatory changes, general economic conditions, interest rates, competition, and other factors. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. -----END PRIVACY-ENHANCED MESSAGE-----