SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 3, 1999
Saba Petroleum Company
___________________________
(Exact name of registrant as specified in its charter)
Delaware 1-12322 47-0617589
_______________________ ___________ _________________
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3201 Airpark Drive, Suite 201
Santa Maria, CA 93455
_____________________________________ _____________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (805) 347-8700
Not Applicable
___________________________________________
(Former name or former address, if changed since last report)
<PAGE>
The sole purpose of this amendment to the Current Report on Form 8-K
dated February 3, 1999 is to furnish the exhibit indicated in Item 7 below.
Item 4. Changes in Registrant's Certifying Accountant.
After approximately a month of interviews and discussions, Saba's board
of directors approved the engagement of Arthur Andersen LLP as Saba's
independent accountants, which agreement was finalized on February 10, 1999.
By a letter delivered to Saba Petroleum Company on February 3, 1999,
PricewaterhouseCoopers LLP resigned as the independent accountants for Saba.
Such letter did not indicate any reason for the resignation.
The reports of PricewaterhouseCoopers on the Saba financial statements
for the years ended December 31, 1997 and 1996 did not contain an adverse
opinion or a disclaimer of opinion, and were not qualified as to uncertainty,
audit scope, or accounting principles. The report of PricewaterhouseCoopers
dated April 15, 1998 contained an explanatory paragraph regarding Saba's
ability to continue as a going concern.
During Saba's two most recent fiscal years and through the date of the
resignation of PricewaterhouseCoopers as Saba's independent accountants, Saba
did not have any disagreements with PricewaterhouseCoopers on any matter of
accounting principles or practices, financial statement disclosure, or
auditing scope or procedure.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) The following exhibit is furnished as part of this Current Report
on Form 8-K/A:
16.1 Letter of PricewaterhouseCoopers LLP dated February 15,
1999 Regarding Change in Accountants.
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 hereunto duly authorized.
Date: February 18, 1999 SABA PETROLEUM COMPANY
/s/ Randeep S. Grewal
By: _____________________________
Randeep S. Grewal,
Chief Executive Officer
EXHIBIT 16.1
February 15, 1999
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by Saba Petroleum Company (copy attached),
which we understand has been filed with the Commission, pursuant to Item 4 of
Form 8-K, as part of the Company's Form 8-K report for the month of February
1999. We agree with the statements concerning our Firm in such Form 8-K.
Very truly yours,
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Item 4. Changes in Registrant's Certifying Accountant.
After approximately a month of interviews and discussions, Saba's board
of directors approved the engagement of Arthur Andersen LLP as Saba's
independent accountants, which agreement was finalized on February 10, 1999.
By a letter delivered to Saba Petroleum Company on February 3, 1999,
PricewaterhouseCoopers LLP resigned as the independent accountants for Saba.
Such letter did not indicate any reason for the resignation.
The reports of PricewaterhouseCoopers on the Saba financial statements
for the years ended December 31, 1997 and 1996 did not contain an adverse
opinion or a disclaimer of opinion, and were not qualified as to uncertainty,
audit scope, or accounting principles. The report of PricewaterhouseCoopers
dated April 15, 1998 contained an explanatory paragraph regarding Saba's
ability to continue as a going concern.
During Saba's two most recent fiscal years and through the date of the
resignation of PricewaterhouseCoopers as Saba's independent accountants, Saba
did not have any disagreements with PricewaterhouseCoopers on any matter of
accounting principles or practices, financial statement disclosure, or
auditing scope or procedure.
