SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: December 30, 1998
(Date of earliest event reported)
FORMAN PETROLEUM CORPORATION
(Exact name of Registrant as specified in charter)
Louisiana 333-31375 72-0954774
(State or other juris- (Commission (IRS Employer
diction of incorporation) File No.) Identification No.)
650 Poydras Street, Suite 2200, New Orleans, Louisiana 70130
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone no., including area code: (504) 586-8888
N/A
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events.
Forman Petroleum Corporation ("Forman") issued today a press
release in which the Company announced the nonpayment of the December 1, 1998
installment of interest due on the Company's 13.5% Senior Secured Notes Due
June 1, 2004 within the thirty-day grace period provided for such payment.
The Company intends to use available funds for exploration and development
projects.
The Company is continuing in its efforts to negotiate a debt
restructuring and/or recapitalization of the Company (the "Recapitalization").
It is the Company's policy, absent unusual circumstances, not to comment
publicly on discussions concerning proposals that may be considered or
transactions that may be pending with respect to the Recapitalization. The
Company also intends, absent unusual circumstances, to refrain from making
any further announcements or reports with respect to the Recapitalization
unless and until a definitive agreement has been executed by the Company with
respect to a transaction in connection with the Recapitalization. There can
be no assurance that the Company will consummate any transactions in
connection with the Recapitalization.
A copy of the press release is filed with this report as Exhibit
99.5 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description Page No.
99.5 Press Release Filed Herewith
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 thereunto duly authorized.
FORMAN PETROLEUM CORPORATION
Dated: December 31, 1998 By: /s/ McLain J. Forman
McLain J. Forman
Chairman of the Board,
Chief Executive Officer and
President
<PAGE>
INDEX TO EXHIBITS
Exhibit No. Description Page No.
99.5 Press Release Filed Herewith
Exhibit 99.5
FOR IMMEDIATE RELEASE Date: December 30, 1998
Contact: Michael Price,
Chief Financial Officer
Phone: (504) 586-8888
Fax: (504) 522-1796
Email: [email protected]
Forman Petroleum Corporation (the "Company"), delivered today to U.S.
Trust Company of Texas, N.A., Trustee under the Indenture dated June 3, 1997
with respect to the Company's 13.5% Senior Secured Notes Due June 1, 2004 (the
"Notes"), notice of the nonpayment of the December 1, 1998 installment of
interest due on the Notes within the thirty-day grace period provided for
such payment. The Company intends to use available funds for exploration
and development projects.
The Company is continuing in its efforts to negotiate a debt
restructuring and/or recapitalization of the Company (the
"Recapitalization"). It is the Company's policy, absent unusual
circumstances, not to comment publicly on discussions concerning proposals
that may be considered or transactions that may be pending with respect to the
Recapitalization. The Company also intends, absent unusual circumstances, to
refrain from making any further announcements or reports with respect to the
Recapitalization unless and until a definitive agreement has been executed by
the Company with respect to a transaction in connection with the
Recapitalization. There can be no assurance that the Company will consummate
any transactions in connection with the Recapitalization.
Forman Petroleum Corporation is headquartered at 650 Poydras Street,
Suite 2200, New Orleans, Louisiana.
