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 (Date of earliest event reported) January 10, 1997
TAURUS PETROLEUM, INC.
(Exact name of registrant as specified in its charter)
COLORADO
(State or other jurisdiction of incorporation)
0-8835 84-0736215
(Commission File Number) (IRS Employer Identification No.)
410 North Sam Houston Parkway East, Houston, Texas 77060
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (281) 445-7755
412 North Sam Houston Parkway East Houston, Texas 77060
(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant:
a) In connection with the move of the Registrant's principal office from San
Antonio, Texas, to Houston, Texas, effective January 6, 1997, Ernst & Young
LLP, whose San Antonio offices had been handling audits of the Registrant's
financial statements, was mutually terminated as the Registrant's principal
accountant.
The auditors' report of Ernst & Young LLP on the consolidated financial
statements of Taurus Petroleum, Inc. and subsidiaries as of September 30, 1995
and 1994, and for each of the years in the three-year period ending
September 30, 1995, did not contain any adverse opinion or disclaimer of
opinion, nor were they qualified or modified as to uncertainty, audit scope,
or accounting principles, except that the auditors' report contained a
separate paragraph that stated that
"The accompanying financial statements have been prepared assuming that Taurus
Petroleum, Inc. will continue as a going concern. As more fully described in
Note 1, the Company has incurred recurring operating losses and has a working
capital deficiency. These conditions raise substantial doubt about the
Company's ability to continue as a going concern. The financial statements do
not include any adjustments to reflect the possible future effects on the
recoverability and classification of assets or the amounts and classification
of liabilities that may result from the outcome of this uncertainty.
In connection with the audits of the two fiscal years ended September 30, 1995,
and in the subsequent interim period through January 6, 1997, there were no
disagreements with Ernst & Young LLP on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedures which
disagreements, if not resolved to their satisfaction would have caused them to
make reference in connection with their opinion to the subject matter of the
disagreement. There were no "reportable events" (as defined in Regulation S-K,
Item 304) occurring during the fiscal years ending September 30, 1995 and 1994,
nor during the subsequent interim period through January 6, 1997. The mutual
termination of Ernst & Young LLP was approved by the Board of Directors of the
Registrant.
b) Effective January 10, 1997, no auditor firm has been appointed.
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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.
TAURUS PETROLEUM, INC.
Registrant
DATE January 10, 1997 BY:/s/ William B. Weekley
Director/Secretary
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ERNST & YOUNG LLP
EXHIBIT 16 TO FORM 8-K
January 13, 1997
Security and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Gentlemen:
We have read Item 4 of the Form 8-K dated January 10,1997 of Taurus Petroleum,
Inc. and are in agreement with the statements contained in the Item 4(a)
therein. We have no basis to agree or disagree with other statements of the
registrant contained therein.
Ernst & Young LLP
