U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SEC File Number
0-6814
FORM 12B-25 CUSIP Number
NOTIFICATION OF LATE FILING 911805 10 9
(Check One):
[X] Form 10-K and Form 10-KSB [ ]Form 20-F [ ] Form 11-K
[ ]Form 10-Q and 10-QSB [ ]Form N-SAR
For Period Ended: May 31, 2000
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
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Read Attached Instruction Sheet Before Preparing Form. Please Print or
Type. Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification relates to a portion of the filing checked above, identify
the Items(s) to which the notification relates.
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PART I - REGISTRANT INFORMATION
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Full name of Registrant: U.S. ENERGY CORP.
Former Name if Applicable: N/A
Address of Principal Executive Office (Street and Number):
877 NORTH 8TH WEST
City, State and Zip Code: RIVERTON, WY 82501
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Part II - Rules 12b-25(b) and (c)
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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 reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form X 20-F, 11-K or Form N-SAR, or portion thereof will
be filed on or before the fifteenth calendar day following the
X prescribed due date; or the subject quarterly report or transition
--- report on Form 10-Q, 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.
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Part III - Narrative
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State below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q,
N-SAR or the transition report or portion thereof, could not be filed within the
prescribed time period.
As of the date of this Notice, the Registrant is in
negotiations with a third party regarding the status of a
significant asset owned by the Registrant and its affiliated
company Crested Corp. These negotiations have taken the
Registrant's staff away from the task of completing the
annual audit for the fiscal year ended May 31, 2000.
The Registrant will file the Form 10-K Report for the
fiscal year ended May 31, 2000 on or before September 13,
2000.
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Part IV - Other Information
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(1) Name and telephone number of person to contact in regard to this
notification.
STEPHEN E. ROUNDS, Special Counsel (303) 377-6997
(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 the answer is no,
identify reports(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.
As stated in Part III above, the staff of the
Registrant has been involved in negotiations which have
prevented them from completing the annual audit. The
financial statements of the Registrant for the subject
fiscal year therefore have not been finalized nor the audit
thereon completed. Until the audit is completed, any
statement about the ultimate difference between the
historical fiscal 1999 financial statement of operations and
the yet-to-be-finalized fiscal 2000 financial statement of
operations cannot be made.
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U.S. ENERGY CORP.
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(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: August 30, 2000 By: /s/ Robert Scott Lorimer
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ROBERT SCOTT LORIMER,
VP Finance, Treasurer and
Chief Financial Officer
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