COLORADO WYOMING RESERVE CO
NT 10-Q, 1999-05-17
CRUDE PETROLEUM & NATURAL GAS
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 12b-25

                                                       SEC File Number 000-09482
                                                          CUSIP Number 628652109

                           NOTIFICATION OF LATE FILING

                                  (Check one):

[ ] Form 10-KSB  [ ] Form 11-K  [ ] Form 20-F  [X] Form 10-Q  [ ] Form N-SAR

                         For Period Ended: March 31, 1999


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Read Attached Instruction Sheet Before Preparing Form.  Please Print or Type.

Nothing in this Form shall be construed to imply that the Commission has
verified any information contained herein.

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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates: N/A

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PART I. - Registrant Information

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            Full Name of Registrant        COLORADO WYOMING RESERVE COMPANY
                                           Former Name if Applicable:
                                           Mystique Developments, Inc.

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            Address of Principal Executive Office
            (Street and Number)

            751 Horizon Court, Suite 205

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            City, State and Zip Code

            Grand Junction, CO 81506

<PAGE>

PART II. - Rules 12b-25(b) and (c)

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If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

 [X]  (a) The reasons described in reasonable detail in Part III of this
          form could not be eliminated without unreasonable effort or expense;

 [X]  (b) The subject annual or semiannual report/portion thereof will be
          filed on or before the fifteenth calendar day following the prescribed
          due date; or the subject quarterly report/portion thereof will be
          filed on or before the fifth calendar day following the prescribed due
          date; and

      (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
          has been attached if applicable.


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III. - Narrative

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     State in reasonable detail the reasons why the Form 10-K, 11-K, 20-F, 10-Q
or N-SAR or portion thereof could not be filed within the prescribed time
period.

     The Company's financial information for the quarter ended March 31, 1999
was delayed in anticipation of the closing of a private financing transaction,
which has recently been delayed.


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IV. - Other Information

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     (1)  Name and telephone number of person to contact in regard to this
          notification.

              (Name)                (Area Code)      (Telephone No.)

          Patricia M. Mitchell         (303)             892-7321



<PAGE>

     (2)  Have all other periodic reports required under Section 13 or 15(d) of
          the Securities Exchange Act of 1934 or Section 30 of the Investment
          Company Act of 1940 during the preceding 12 months or for such shorter
          period that the registrant was required to file such reports been
          filed? If answer no, identify report(s).

          [X]  Yes          [ ]  No

     (3)  Is it anticipated that any significant change in results of operations
          from the corresponding period for the last fiscal year will be
          reflected by the earnings statements to be included in the subject
          report or portion thereof?

          [ ]  Yes          [X]  No

          If so: Attach an explanation of the anticipated change, both
          narratively and quantitatively, and, if appropriate, state the reasons
          why a reasonable estimate of the results cannot be made.*



                         COLORADO WYOMING RESERVE COMPANY
                  (Name of Registrant as specified in charter)

has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.

Date: May 17, 1999                  By:  /s/  Kim M. Fuerst
                                       --------------------------------------
                                    Name: Kim M. Fuerst
                                    Title: President




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