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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
August 2, 1999
BELLWETHER EXPLORATION COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 0-9498 74-0437769
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification Number
1331 LAMAR, SUITE 1455
HOUSTON, TEXAS 77010-3039
(Address of principal (zip code)
executive offices)
(713) 650-1025
(Registrant's telephone number, including area code)
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT
Not applicable
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Not applicable
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not applicable
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS
Not applicable
ITEM 5. OTHER EVENTS
Bellwether Exploration Company made the Press Release attached hereto as
Exhibit 99A.
ITEM 6. RESIGNATION OF REGISTRANT'S DIRECTORS
Not applicable
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99A. Copy of the Company's Press Release dated August 2, 1999
ITEM 8. CHANGE IN FISCAL YEAR
Not applicable
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S
Not applicable
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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
undersigned hereunto duly authorized.
BELLWETHER EXPLORATION COMPANY
August 2, 1999 By: /s/ J. P. Bryan
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J. P. Bryan, CEO
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EXHIBIT INDEX
EXHIBIT 99A--
Copy of the Company's Press Release dated August 2, 1999
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EXHIBIT 99A
Bellwether Exploration Company
1331 Lamar, Suite 1455
Houston, Texas 77010-3039
NEWS RELEASE
August 2, 1999
ROB BENSH
VICE PRESIDENT
Capital Markets
[email protected]
(713) 756-7029
BELLWETHER EXPLORATION COMPANY FORMS OFFICE OF THE CHIEF EXECUTIVE
UNDER LEADERSHIP OF NEW CHAIRMAN AND CEO J.P. BRYAN
J. Darby Sere and William C. Rankin to Leave Company
HOUSTON - Bellwether Exploration Company announced today that its Board of
Directors formed an Office of the Chief Executive to oversee the day-to-day
running of the Company's operations, effective immediately. Directors J.P Bryan
and Townes Pressler will constitute the Office of the Chief Executive. Mr.
Bryan will serve as Chairman and CEO and, with Mr. Pressler, will be actively
involved in the daily direction and operations of the Company until a new CEO
can be found.
Mr. J. Darby Sere, previously Chairman and CEO and William C. Rankin, previously
Senior Vice President and Chief Financial Officer are leaving the Company to
pursue other opportunities. The Company will immediately commence a search for
a new Chief Financial Officer.
"Bellwether's strategic direction is as clear to me today as it has been in any
time in the Company's history," said Mr. Bryan. "Bellwether has the potential
for significant growth in its core areas and will continue to focus on growth
through acquisitions, one of the Company's strengths."
"The Board joins me in saluting Darby Sere's accomplishments at Bellwether. He
has played a significant role in the company's history," said Mr. Bryan.
"We are actively pursuing opportunities to grow Bellwether while diligently
seeking a new CEO who shares our vision and commitment to shareholder
enhancement. In the interim, we will move decisively to take those actions that
are necessary and prudent in our pursuit of increased shareholder value."
Townes Pressler has been a board member since May of 1998 and is currently
President of Tepee Petroleum Company, Inc. and Pressler Petroleum Consultants.
In addition to his role as Chairman of the Executive Committee, Mr. Pressler
serves on the Company's acquisition and Torch negotiation committees. Mr.
Pressler has 38 years of experience in the oil and gas industry.
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The Company will hold a teleconference call Monday, August 2, 1999 at 3 p.m.
Eastern Standard Time. If you would like to participate, please call
212-896-6077.
Bellwether Exploration Company (NASDAQ: BELW) is an independent oil and gas
exploration and production Company headquartered in Houston, Texas. Bellwether
employs a balanced program of producing property acquisitions and technology-
driven exploration and exploitation to increase its reserves, cash flow and net
asset value. The Company's principal area of activity is the Texas/ Louisiana
Gulf Coast, both onshore and offshore.
For more information about Bellwether's operations please visit the Company's
web site at www.bellwetherexp.com.
This news release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Although the Company believes that its expectations are
based on reasonable assumptions, it can give no assurances that forecasted
results will be achieved. Important factors that could cause actual results to
differ materially from those in the forward-looking statements herein are
referenced in the Company's annual report and current reports and registration
statements filed with the Securities and Exchange Commission.
