COLORADO WYOMING RESERVE CO
NT 10-Q, 2000-05-16
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-K  [ ] Form 11-K   [ ] Form 20-F   [X] Form 10-QSB    [ ] Form N-SAR

                        For Period Ended: March 31, 2000


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.

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

- --------------------------------------------------------------------------------

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


Address of Principal Executive Office (Street and Number):

      751 Horizon Court, Suite 205


City, State and Zip Code:

      Grand Junction, CO  81506


<PAGE>


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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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PART III - Narrative

- --------------------------------------------------------------------------------

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.

Company could not complete financial statements timely.


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PART 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.)
            Laura Gill        (303)              892-7333


                                       -2-


<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 12, 2000           By: /s/ J. SAMUEL BUTLER
                                             ----------------------------------
                                          Name: J. Samuel Butler
                                          Title: Director


            INSTRUCTION: The form may be signed by an executive officer of
            the registrant or by any other duly authorized representative.
            The name and title of the person signing the form shall be typed
            or printed beneath the signature. If the statement is signed on
            behalf of the registrant by an authorized representative (other
            than an executive officer), evidence of the representative's
            authority to sign on behalf of the registrant shall be filed with
            the form.


                                       -3-



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