SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Filed Pursuant to Section 13 or 15 (d) of the Securities Act of 1934
Date of Report (Date of earliest event reported) July 23, 1998
GENERAL AMERICAN ROYALTY, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-12835 75-2468002
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(State or other Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
4925 Greenville Avenue, Suite 1005, Dallas, Texas 75206
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 361-8535
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(Former name or former address, if changed since last report)
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Item 2. Acquisition or Disposition of Assets.
The Company sold, for cash, the remainder of its oil and gas royalty
and mineral interests. The transaction was completed and closed on July 23,
1998. The properties were sold in order to pay off short term debt and payables.
The short term debt was collateralized by all the properties that were sold.
The properties consisted of the Company's overriding royalty interests
in 21 wells in the Alta Mesa gas field in Brooks County, Texas, 3 wells in the
North Wilton Strawn Waterflood Unit and numerous small royalty, overriding
royalty and fee mineral interests in eight Texas counties and one New Mexico
county. A more complete description of the properties can be found in the
registrants Form 10-KSB for the fiscal year ended October 31, 1997.
The Company received $185,000 in cash consideration for its interests.
The Company received several bids and sold to the highest bidder, BHCH Mineral,
Ltd.
There is no business or family relationship between the purchaser and
the Company or the Company's officers and directors.
Item 5. Other Events.
The Company now owns no producing or non-producing royalty and mineral
interests. The Company is now investigating other business situations and
opportunities which may or may not be related to the oil and gas industry.
SIGNATURES
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.
GENERAL AMERICAN ROYALTY, INC.
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(Registrant)
Date: July 23, 1998 By: /s/ James F. Smith
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James F. Smith
President, Director and Chief Executive Officer
