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) August 29, 1997
OIL CITY PETROLEUM, INC.
(Exact name of Registrant as specified in its Charter)
Texas 0-9098 75-1614001
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.
5579 South Lewis, Tulsa, Oklahoma 74105
(Address of principal executive offices) (Zip Code)
(918) 749-0483
(Registrant's telephone number, including area code)
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Item 4, Change in Registrant's Certifying Accountants.
On August 29, 1997, Steven L. Terry, CPA, P.C. was engaged as the independent
certified public accountant to audit the Registrant's financial statements for
the year ended August 31, 1997.
In connection with the audits of the Registrant's two most recent fiscal years
and interim period to August 29, 1997, there had been no disagreement with the
former accountant, William T. Zumwalt, Inc., on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, except as explained below:
In their report issued November 29, 1996, William T. Zumwalt, Inc.
modified their opinion on the Registrant's financial statements as
to an uncertainty about the Registrant's ability to continue as a
going concern due to recurring losses and the potential inability
to obtain the funds necessary to continue in business.
The principal accountant's report on the Registrant's financial statements for
the past two years did not contain an adverse opinion, disclaimer of opinion,
or qualification or modification as to uncertainty, audit scope, or accounting
principles, except as noted above.
The former accountant was dismissed at the same time the new accountant was
retained, on August 29, 1997. The decision to change was approved by the board
of directors.
<PAGE>
SIGNATURE
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.
OIL CITY PETROLEUM, INC.
(Registrant)
Date: August 29, 1997 s/b Herman E. Nichols, Jr.
Herman E. Nichols, Jr.
President
<PAGE>
William T. Zumwalt, Inc.
Certified Public Accountants
1429 South Baltimore
Tulsa, Oklahoma 74119
918-583-1040
August 29, 1997
Securities and Exchange Commission
Washington, D.C. 20549
Dear Sirs:
We have reviewed the Form 8-K of Oil City Petroleum, Inc. dated August 29, 1997
in regard to a change of independent certified public accountants. We agree
with the statements made by Oil City Petroleum, Inc. in the Form 8-K.
Sincerely,
William T. Zumwalt, Inc.
s/b William T. Zumwalt
