0001017386-21-000084.txt : 20210401 0001017386-21-000084.hdr.sgml : 20210401 20210401124235 ACCESSION NUMBER: 0001017386-21-000084 CONFORMED SUBMISSION TYPE: NT 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20201231 FILED AS OF DATE: 20210401 DATE AS OF CHANGE: 20210401 EFFECTIVENESS DATE: 20210401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPINDLETOP OIL & GAS CO CENTRAL INDEX KEY: 0000867038 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 752063001 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NT 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18774 FILM NUMBER: 21797030 BUSINESS ADDRESS: STREET 1: 12850 SPURLING RD. STREET 2: SUITE 200 CITY: DALLAS STATE: TX ZIP: 75230-1279 BUSINESS PHONE: 9726442581 MAIL ADDRESS: STREET 1: 12850 SPURLING RD. STREET 2: SUITE 200 CITY: DALLAS STATE: TX ZIP: 75230-1279 NT 10-K 1 sog_2020dec31-nt10k.htm NT 10-K

SEC File No. 0-18774

CUSIP No. 848550 20 8

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.

FORM 12b-25

NOTIFICATION OF LATE FILING

[ X ] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form 10-D [ ] Form N-SAR

[ ] Form N-CEN [ ] Form N-CSR

For the Period Ended: December 31, 2020

[ ] Transition Report on Form 10-K

[ ] Transition Report on Form 20-F

[ ] Transition Report on Form 11-K

[ ] Transition Report on Form 10-Q

For the Transition Period Ended: ____________________________________

Nothing in this form shall be construed to imply that the Commission

has verified any information contained herein.

If the notification relates to a portion of the filing checked above,

Identify the Item(s) to which the notification relates:

PART I - REGISTRANT INFORMATION

Spindletop Oil & Gas Co.

(Full name of registrant)

N/A

(Former Name if Applicable)

12850 Spurling Dr., Suite 200

(Address of Principal Executive Office)

Dallas, Texas 75230

(City, State and Zip Code)

PART II - RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

(a)

The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense

[ X ]

(b)

The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN, or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and

(c)

The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail why the Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR or the transition report or portion thereof, could not be filed within the prescribed time period.

Spindletop Oil & Gas Co. is unable to file its annual report on Form 10-K for the period ended December 31, 2020, without unreasonable effort and expense due to the late receipt of information required from purchasers of oil and gas and from third party operators. These delays, in part are due to restrictions on work related to the global pandemic and in part due to the delays caused by the recent severe winter storm in Texas.

PART IV - OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this notification.

Chris G. Mazzini 972 644-2581

(Name) (Area Code) (Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s), [X] YES [ ] NO

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion

thereof? [X] YES [ ] NO

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

Net income (loss) for the period ended December 31, 2020 is anticipated to decrease as compared with net Income for the same period in 2019. In 2019 we reported a net (loss) of $(646,000). We anticipate that the Company will report a net (loss) for the period ended December 31, 2020 in the range of approximately $(1,100,00)

Total revenues are expected to decrease approximately $1,400,000 for 2020 compared to that reported for the same period of 2019. Total expenses are expected to decrease by approximately $876,000 compared to that previously reported for 2019.

A current income tax (benefit) is anticipated to be approximately $(200,000) compared to a provision of $39,000 reported in 2019. A deferred income tax (benefit) is anticipated to be approximately $65,000 compared to a deferred income tax (benefit) of $(142,000) reported in 2019.

Beginning in the first quarter of 2020, the global coronavirus pandemic drastically weakened the global demand for oil putting unprecedented pressure on the price of oil. As the economy dramatically stalled, the demand for oil and gas substantially weakened. The Company has felt the negative effects of the plummeting product prices and has attempted to reduce costs to offset the decline in revenues. To reduce expenses, the Company has temporarily shut-in wells that were not profitable under the weakened economy and reduced administrative expenses.

SPINDLETOP OIL & GAS CO.

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

April 1, 2021

By: /s/ Chris G. Mazzini

Chris G. Mazzini

President, Principal Executive Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001)

GENERAL INSTRUCTIONS

1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules and Regulations under the Securities and Exchange Act of 1934.

2. One signed original and four conformed copies of this form and amendments thereto must be completed and filed with the Securities and Exchange Commission, Washington, D.C. 20549, in accordance with rule 0-3 of the General Rules and Regulations under the Act. The information contained in or filed with the form will be made a matter of public record in the Commission files.

3. A manually signed copy of the form and amendments thereto shall be filed with each national securities exchange on which any class of securities of the registrant is registered.

4. Amendments to the notifications must also be filed on form 12b-25 but need not restate information that has been correctly furnished. The form shall be clearly identified as an amended notification.

5. Interactive data submissions. This form shall not be used by electronic filers with respect to the submission or posting of an Interactive Data File (Sec 232.11 if this chapter). Electronic filers unable to submit or post an Interactive Data File within the time period prescribed should comply with either Rule 201 or 202 of Regulation S-T (Sec 232.201 and Sec 232.202) of this chapter).