<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10Q
QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For Quarter Ended September 30, 1995 Commission File Number 0-9394
___________BLACK DOME ENERGY CORPORATION_____________
(Exact name of registrant as specified in its charter)
_____________Colorado____________ __________84-0808397_______
( State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
1536 Cole Blvd., Ste #325
_______Golden,_Colorado_______ __________80401____________
(Address of principal executive (Zip code)
offices)
Registrant's telephone number, including area code: (303)231-9059
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
__X__ Yes _____ No
At September 30, 1995, 73,497 shares of no par value common stock
(the registrant's only class of voting stock) were outstanding.
<PAGE>
Page 1
BLACK_DOME_ENERGY_CORPORATION
INDEX_TO_FORM_10-Q
SEPTEMBER 30, 1995
PART I - FINANCIAL INFORMATION PAGE
Item_1.__Financial_Statements
Consolidated condensed balance 3
sheet at September 30, 1995 and
December 31, 1994.
Consolidated statement of 5
operations for the nine-month
periods ended September 30, 1995 and 1994.
Consolidated condensed statement 6
of cash flows for the nine-month
periods ended September 30, 1995 and 1994
Item_2.__Management's_Discussion_and 7
Analysis_of_Financial_Conditions_and
Results of_Operations
PART II - OTHER INFORMATION 8
PART III - FINANCIAL DATA SCHEDULE 14
------------------------------
The financial information furnished in this Form 10-Q reflects all
adjustments which are, in the opinion of management, necessary for
a fair presentation of the financial position of the Company and
results of its operations for the interim periods presented.
Page 2
<PAGE>
PART_I_-_FINANCIAL_INFORMATION
Item_1.__Financial_Statements
BLACK_DOME_ENERGY_CORPORATION_AND_SUBSIDIARY
CONSOLIDATED_CONDENSED_BALANCE_SHEET
<TABLE>
<CAPTION> September 30, December 31,
___1995_____ ___1994____
(Unaudited) (Note)
<S> <C> <C>
ASSETS
Current Assets:
Cash $ 33,021 $ 53,429
Accounts Receivable 95,706 98,186
Total current assets $128,727 $151,615
Property and equipment, at cost:
Oil and gas properties - net
(successful efforts method) 469,380 503,499
Materials and supplies 43,225 53,921
Other property and equipment - net 8,929 7,589
Other Assets 2,294
Total assets $ 650,261 $ 718,918
========== ==========
</TABLE>
Note: The balance sheet at December 31, 1994 has been taken from the
audited financial statements at that date, and condensed.
Page 3
<PAGE>
BLACK DOME_ENERGY_CORPORATION_AND_SUBSIDIARY
CONSOLIDATED_BALANCE_SHEET_(CONT'D)
<TABLE>
<CAPTION> September 30, December 31,
____1995___ ____1994____
(Unaudited) (Note)
<S> <C> <C>
LIABILITIES_AND_
STOCKHOLDER'S_EQUITY
Current Liabilities:
Accounts Payable $ 47,517 $ 79,257
Note Payable - Bank 77,042 132,724
Other Payables 47,241 9,600
Total Current Liabilities 171,800 221,581
Deferred Liability 154,200 100,000
Stockholders' Equity:
Common stock; no par value;
authorized 10,000,000 shares,
issued and outstanding 73,497
and 67,433 shares, respectively 2,170,353 2,170,353
Accumulated deficit (1,846,092) (1,773,016)
Total stockholders' equity 324,261 397,337
Total liabilities and
stockholders' equity $ 650,261 $ 718,918
============ ============
</TABLE>
Note: The balance sheet at December 31, 1994 has been taken from the
audited financial statements at that date, and condensed.
Page 4
<PAGE>
BLACK_DOME_ENERGY_CORPORATION_AND_SUBSIDIARY
CONSOLIDATED_STATEMENT_OF_OPERATIONS
<TABLE>
<CAPTION> Nine Months
Ended
September 30,
1995 1994
(Unaudited)
<S> <C> <C>
Revenue:
Oil and gas sales $337,090 $485,367
Operating income -- 17,040
Interest Income 290 8,072
Miscellaneous 357 1,606
Total $337,737 $512,085
Expenses:
Oil & Gas production 141,944 242,631
Production and windfall
profit taxes 19,465 31,166
Depreciation, depletion
and amortization 58,172 51,000
General & Administrative 171,040 192,995
Total $390,621 $517,792
Income (loss) before
taxes $(52,884) $ (5,707)
Provision for Income
taxes -- --
Net Income before
Income Tax Benefit $(52,884) $ (5,707)
Income Tax Benefit --
Net Income (loss) $(52,884) $ (5,707)
======== ========
Income per common and
common equivalent share $ (.72) $ (.10)
========= =========
</TABLE>
Page 5
<PAGE>
BLACK_DOME_ENERGY_CORPORATION_AND_SUBSIDIARY
CONSOLIDATED_CONDENSED_STATEMENT_OF_CASH FLOWS
<TABLE>
<CAPTION> Nine Months
Ended
September 30,
1995 1994
(Unaudited)
<S> <C> <C>
Net Cash Flows Provided <USED> By Operating
Activities $(52,884) $(47,842)
Net Cash Used In Investing Activities 32,476 (129,211)
Net Cash Used In Financing Activities -- --
Net Increase(Decrease) in Cash $(20,408) $(177,053)
======== ========
</TABLE>
Page 6
<PAGE>
Item_2.__Management's_Discussion_and_Analysis_of_Financial
Condition_and_Results_of_Operations.
General
This discussion and analysis covers variations in the balance sheets
December 31, 1994, and September 30, 1995, and in the statements of
operations and changes in cash flows for the nine-month periods ended
September 30, 1995 and 1994.
Liquidity_and_Capital_Resources
Cash decreased by $20,408 from December 31, 1994 to the end of the
third quarter, 1995. This decrease in cash was attributable primarily to
the maintenance and recompletion of existing oil and gas properties. Cash
flows and current revenues are estimated to be sufficient to meet
anticipated operating requirements for more than one year.
Results_of_Operations
Oil and gas sales have decreased compared to the nine-month period
in 1994 due to decreased production from the Company's operated oil and gas
properties and from a decrease in the price received for produced oil and gas.
Gross income from Company owned and operated wells is comparable to
the nine-month period ended September 30, 1994.
Interest income has decreased compared to the prior period in 1994.
Depreciation, Depletion and Amortization (DDA) for the period has
increased from the same nine-month period in 1994.
The Company's exploration expense reflects minimal exploration
activity for both periods.
Oil and gas production expenses were lower in the nine-month period
of 1995.
The Company's General and Administrative expense for the quarter
ended September 30, 1995, decreased compared to the second quarter of 1994.
Management is attempting to contain general and administrative expenses by
fully utilizing its existing personnel.
Page 7
<PAGE>
PART_II_-_OTHER INFORMATION
Item_6.__Exhibits and Reports_on_Form_8-K.
(a) Exhibits: None
(b) Reports: None
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the
undersigned thereunto duly authorized.
BLACK DOME ENERGY CORPORATION
Date: November 13, 1995 s/Edgar J. Huff_________
Edgar J. Huff, President
and Chief Financial
Officer
Page 8
<PAGE>
August 15, 1995
Office of Filings, Information and
Consumer Services
Securities and Exchange Commission
450 Fifth Street N.W., Judiciary Plaza
Washington, D.C. 20549
Re: Black Dome Energy Corporation
Quarterly Report on Form 10-Q
For the Quarter Ended June 30, 1995
Commission File No. 0-9394
Gentlemen:
Black Dome Energy Corporation encloses herewith eight (8) copies (one of
which has been manually signed and for ease of identification has been
marked with an "X" in the upper right-hand corner) of the above referenced
document.
A copy of this letter and a postage-paid envelope is enclosed for the
Commission's acknowledgment of filing.
Sincerely,
BLACK DOME ENERGY CORPORATION
Tish Hartman
Administrative Assistant
/th
Enclosures
Page 9
<PAGE>
August 15, 1995
National Association of Securities Dealers, Inc.
NASDAQ Operations
Washington, D.C. 20006
Re: Black Dome Energy Corporation
Quarterly Report on Form 10-Q
For the Quarter Ended June 30, 1995
Commission File No. 0-9394
Gentlemen:
Black Dome Energy Corporation encloses herewith two (2) copies (one of
which has been manually signed and for ease of identification has been
marked with an "X" in the upper right-hand corner) of the above
referenced document.
A copy of this letter and a postage-paid envelope is enclosed for the
Commission's acknowledgment of filing.
Sincerely,
BLACK DOME ENERGY CORPORATION
Tish Hartman
Administrative Assistant
/th
Enclosures
September 27, 1994
Office of Filings, Information and
Consumer Services
Securities and Exchange Commission
450 Fifth Street N.W., Judiciary Plaza
Washington, D.C. 20549
Re: Black Dome Energy Corporation
AMENDED Quarterly Report on Form 10-Q
For the Quarter Ended June 30, 1994
Commission File No. 0-9394
Gentlemen:
In accordance with the requirements of Section 13 and 15(d) of the Securities
Exchange Act of 1934, as amended, and Rule 13a-13 thereunder, enclosed on
behalf of Black Dome Energy Corporation are one manually-executed and seven
copies of Registrant's Form 10-Q/A, Amendment No. 1 to the Quarterly Report
for the quarter ended June 30, 1994.
A copy of this letter and a postage-paid envelope is enclosed for the
Commission's acknowledgment of filing.
Sincerely,
BLACK DOME ENERGY CORPORATION
Tish Hartman
Administrative Assistant
/th
Enclosures
Page 10
<PAGE>
June 20, 1994
Office of Filings, Information and
Consumer Services
Securities and Exchange Commission
450 Fifth Street N.W., Judiciary Plaza
Washington, D.C. 20549
Re: Black Dome Energy Corporation
Commission File No. 0-9394
Gentlemen:
Please note that Effective July 1, 1994, Black Dome Energy Corporation's new
address will be:
1536 Cole Boulevard, Suite 325
Golden, Colorado 80401
New Phone: (303) 231-9059
New Fax : (303) 231-9098
We would appreciate it if you would notify the proper departments at the SEC
as to this change. Thank you.
Sincerely,
BLACK DOME ENERGY CORPORATION
Tish Hartman
Administrative Assistant
/th
June 20, 1994
National Association of Securities Dealers, Inc.
Document Processing Center
5161 River Road
Bethesda, Maryland 20816
Re: Black Dome Energy Corporation
Commission File No. 0-9394
Gentlemen:
Please note that Effective July, 1, 1994, Black Dome Energy Corporation's new
address will be:
1536 Cole Boulevard, Suite 325
Golden, Colorado 80401
New Phone: (303) 231-9059
New Fax : (303) 231-9098
We would appreciate it if you would notify the proper departments within the
NASD as to this change. Thank you.
Sincerely,
BLACK DOME ENERGY CORPORATION
Tish Hartman
Administrative Assistant
/th
Page 11
<PAGE>
Black Dome Energy Corporation encloses herewith two (2) AMENDED copies
(one of which has been manually signed and for ease of identification has
been marked with an "X" in the upper right-hand corner) of the above
referenced document.
A copy of this letter and a postage-paid envelope is enclosed for the
Commission's acknowledgment of filing.
Sincerely,
BLACK DOME ENERGY CORPORATION
Tish Hartman
Administrative Assistant
/th
Enclosures
BLACK DOME ENERGY CORPORATION
CHANGES IN CORPORATE OPERATIONS
SUBSEQUENT TO JUNE 30, 1991 10-Q FILING
(AS OF JANUARY 17, 1992)
Black Dome Energy Corporation has implemented the following operational changes
since the filing of its June 30, 1991 and September 30, 1991 10-Q's with the
Securities and Exchange Commission.
1) Additional Salaries and Commitments:
- - Mr. Joseph R. Albi, Jr. has been employed by Black Dome Energy Corporation
as Executive Vice President effective July 1, 1991 at a monthly salary of
$5,000 for a contracted period of three (3) years. In addition, Mr. Albi
will receive a total of 7,256,000 unregistered shares of the no par value
Common Stock of Black Dome Energy Corporation at a per share cost of
$.00125/share subject to vesting and forfeiture over the three-year term of
his contract.
- - Mr. Edgar J. Huff has contractually agreed to receive a deferred yearly
salary of $60,000 for a period of four (4) years effective January 1, 1991
and to be received on January 2, 1995. In addition, Mr. Huff will receive
a $9,600 per year bonus to be paid on or before December 31 of each calendar
year for a term of four years.
- - Black Dome has purchased a term life insurance policy through Federal
Kemper in the name of Mr. Edgar J. Huff in the amount of $250,000 with Black
Dome Energy Corporation as the sole beneficiary. The monthly premium
associated with the policy is $ 503.27
- - Effective December 30, 1991, Mr. Joseph R. Albi, Sr. (Director) and Ms.
Tish Hartman (Assistant Secretary) have each been issued 100,000 shares of
unregistered no par value Common Stock of Black Dome for services rendered
during 1991.
Page 12
<PAGE>
2) Property Sales
- - Black Dome has sold its interest in the following wells as of the indicated
effective dates at the illustrated purchase prices:
<TABLE>
<CAPTION> _Well_ Effective Date Sale Price
<S> <C> <C>
No. 1 Dalton 05/15/91 $ 16,000
No. 1 Vanderwork 06/01/91 $ 11,811
Total $ 27,811
- - The combined estimated net remaining proved reserves and Future
Net Value (FNV) as of January 1, 1991 associated with these two properties
(as included in Black Dome Energy Corporations 10-K as of December 31, 1990)
are as follows:
Net Net
Oil Gas FNV
Reserve Category (Bbls) (MCF) Disc. @10%
Proved Producing 66 8,733 $ 10,213
Proved Non-Producing ___ 19,110 $ 8,950
Total 66 27,843 $ 19,163
</TABLE>
3) PROPERTY ACQUISITIONS
- - Utilizing internally generated funds, Black Dome was successful in closing
two acquisition packages during the month of December 1991. The combined
acquisition cost for the two packages of $80,000 resulted in the purchase of
100% W.I. in eight (8) operated gas properties (Seven (7) located in Kansas
and one (1) located in Oklahoma) which Black Dome believes have significant
re-work potential. Based on current production levels, (not accounting for
full upside potential) the properties will provide an addition to Black Dome's
net reserves of approximately 750,000 MCF. Black Dome does not anticipate
including any wells acquired through these two acquisitions in the 1992 Gas
& Oil Well Purchase and Re-Work Program.
Page 13
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedulle contains summary financial information extracted from the
consolidated Balance sheets and consolidated statements of operations
found on pages 3 and 4 of the company's form 10-q for the year-to-date,
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1995
<CASH> 33
<SECURITIES> 0
<RECEIVABLES> 96
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 129
<PP&E> 478
<DEPRECIATION> 0
<TOTAL-ASSETS> 650
<CURRENT-LIABILITIES> 172
<BONDS> 0
<COMMON> 73
0
0
<OTHER-SE> 324
<TOTAL-LIABILITY-AND-EQUITY> 650
<SALES> 337
<TOTAL-REVENUES> 338
<CGS> 220
<TOTAL-COSTS> 391
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (53)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (53)
<EPS-PRIMARY> (.72)
<EPS-DILUTED> (.72)
