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..........................November 13, 1998
TEXAS VANGUARD OIL COMPANY
(exact name of registrant as specified in charter)
TEXAS
(State or other jurisdiction of incorporation)
#1-10437 #74-2075344
(Commission File Number) (IRS Employer Identification No.)
9811 Anderson Mill Rd., Suite 202
Austin, Texas
(Address of principal executive offices)
78750
(Zip Code)
(512) 331-6781
(Registrant's telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
<PAGE>
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a) Texas Vanguard Oil Company, a Texas corporation (the "Registrant"), was
organized in December 1979. On November 13, 1998, the Board of Directors of
the Registrant met to discuss KPMG Peat Marwick's resignation as the
independent auditors of the Registrant's financial statements. KPMG,
certified public accountants having served as the independent auditors for
the Registrant since 1984, submitted their resignation effective November 12,
1998. A copy of their letter is attached as an exhibit to this filing.
The Board of Directors of the Registrant voted to accept the resignation.
(b) On November 13, 1998, the Registrant's Board of Directors elected the
firm of Sprouse & Winn, L.L.P., Austin, Texas, as the independent auditor
for the current year ending December 31, 1998. Sprouse & Winn are to examine
the financial statements of the Registrant for the current year and are to
perform such other appropriate accounting services as may be required by the
Board of Directors.
(c) KPMG Peat Marwick, in their reports on the financial statements of the
Registrant for the previous two fiscal years (December 31, 1996 and December
31, 1997), gave no adverse opinion or a disclaimer of opinion, nor was any
report qualified as to uncertainty, audit scope, or accounting principles.
During the Company's most recent fiscal year and subsequent interim periods
preceding the resignation of KPMG Peat Marwick, the Company had no dis-
agreements with KPMG Peat Marwick 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) Exhibit 1 - Accountant's letter confirming resignation dated November
12, 1998
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 under
signed hereunto duly authorized.
Texas Vanguard Oil Company
November 13, 1998 By: Robert N. Watson, Jr.
President & CEO
<PAGE>
EXHIBIT 1
KPMG Peat Marwick LLP letterhead
November 12, 1998
KPMG Peat Marwick LLP
111 Congress Avenue, Suite 1100
Austin, Texas 78701
Mr. Robert N. Watson, Jr., President
Texas Vanguard Oil Company
P.O. Box 202650
Austin, Texas 78720-2650
Dear Mr. Watson:
This is to confirm that the client-auditor relationship between Texas
Vanguard Oil Company and KPMG Peat Marwick LLP has ceased.
Sincerely,
KPMG Peat Marwick LLP
Stanley D. Sewell
Managing Partner
SDS:bh
cc: Chief Accountant, Securities and Exchange Commission
