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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) November 9,1995
HUNTER RESOURCES, INC.
(Exact name of Registrant as specified in its Charter)
Commission file number 1-1705
Pennsylvania 87-0205057
(State of Incorporation) (I.R.S. Employer Identification No.)
600 East Las Colinas Blvd., Suite 1200, Irving, Texas 75039
(Address of principal executive offices) (Zip Code)
(214) 401-0752
(Registrant's telephone number, including area code)
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CURRENT REPORT OF EVENTS
Item 2. RECENT DEVELOPMENTS
On November 9, 1995, Magnum Hunter Production, Inc. ("Magnum Hunter"), a
wholly-owned subsidiary of Hunter Resources, Inc., closed on an acquisition of
domestic producing oil and gas properties for approximately $4.5 million, as
adjusted for operations to closing date, from a Corpus Christi, Texas based
independent. The initial purchase price was comprised of $3.375 million cash,
funded by the Magnum Hunter's existing bank line of credit, and a note payable
to the previous owner in the amount of $1.125 million secured by 610,170 shares
of restricted common stock of Magnum Petroleum, Inc., the new parent of Magnum
Hunter (subject to shareholder approval). The acquisition had an effective
date of August 1, 1995. The properties are concentrated in two counties in
Texas and include ownership interest in 38 wells. The properties have proven
reserves estimated by the Company's petroleum engineers in excess of 550,000
barrels of oil and 2.9 billion cubic feet of natural gas to the net interest
acquired. The future net revenues from these proven properties are estimated
to be $10.4 million with a discounted present worth at 10% of $8,051,185.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Required Financial Statements for the acquired business
described in Item 2 are unavailable as of the date of this
filing but will be filed within 60 days.
SIGNATURES
Pursuant to the requirements of Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
DATED: NOVEMBER 21, 1995 HUNTER RESOURCES, INC.
By: /s/ Gary C. Evans
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Gary C. Evans
President
