<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File Number: 0-22349
(Check One)
(X) Form 10-KSB ( ) Form N-SAR
( ) Form 10-Q ( ) Form 11-K
( ) Form 20-F
For Period Ended: December 31, 1998
--------------------------------------------------------
( ) 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:___________________________________________
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
Pan Western Energy Corporation
- --------------------------------------------------------------------------------
Full Name of Registrant
- --------------------------------------------------------------------------------
Former Name if Applicable
1850 S. Boulder Avenue, Suite 300
- --------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
Tulsa, Oklahoma 74119
- --------------------------------------------------------------------------------
City, State and Zip Code
1
<PAGE>
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 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 20-F, 11-K, of Form N-SAR, or portion thereof, will be
(X) filed on or before the fifteenth calendar day following the prescribed
due date; or the subject quarterly report of 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.
PART III - NARRATIVE
State below in reasonable detail the reasons why Forms 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.
Registrant is waiting on outside third party oil and gas reservoir
engineers to complete the calculation of Registrant's oil and gas reserves at
December 31, 1998.
In addition, our annual audit which has been in progress since March 8,
1998 cannot be completed until the reserve report is received since the results
of the report affect both the depreciation, depletion and amortization
calculation to be included in the audited financial statements as well as the
unaudited Supplemental Information About Oil and Gas Producing Activities which
must be included in our Form-10KSB filing.
It is currently anticipated the Registrant will file Form-10KSB on or before the
fifteenth calendar day following the prescribed due date.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Vincent R. Kemendo
(918) 582-4957
(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
2
<PAGE>
(3) Is it anticipated that any significant changes 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
As reflected in Form 10-Q filings for the periods ended March 31, 1998
June 30, 1998 and September 30, 1998, the registrant currently expects the
audited financial statements for the year ended December 31, 1998 to reflect a
significantly larger net loss than that which was reflected in the audited
financial statements for the year ended December 31, 1997. The registrant
experienced lower production volumes as well as lower prices for its oil and gas
production for the year ended December 31, 1998 when compared to the year ended
December 31, 1997. The registrant also experienced increased general and
administrative and lease operating expenses during the year ended December 31,
1998 as compared to the year ended December 31, 1997.
PAN WESTERN ENERGY CORPORATION
------------------------------
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date MARCH 25, 1999
----------------------------------------------
By /s/ SID L. ANDERSON
---------------------------------------------
Sid L. Anderson, President and Director
3
