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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
September 30, 1999
BELLWETHER EXPLORATION COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 0-9498 76-0437769
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification Number)
1331 LAMAR, SUITE 1455
HOUSTON, TEXAS 77010
(Address of principal 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 on September 29, 1999, announcing the election of J.P. Bryan as
Chairman of the Board and Chief Executive Officer, the promotion of Cliff M.
West to Senior Vice President-Exploitation & Exploration and the promotion of
Robert J. Bensh to Senior Vice President-Finance.
ITEM 6. RESIGNATION OF REGISTRANT'S DIRECTORS
Not applicable
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
99A. Copy of the company's press release dated September 29, 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 Exhange 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
/s/ J.P. BRYAN
September 30, 1999 By: ___________________________
J.P. Bryan, Chairman and CEO
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[LOGO OF BELLWETHER EXPLORATION COMPANY APPEARS HERE]
FOR IMMEDIATE RELEASE Contact:
September 29, 1999 Rob Bensh
Senior Vice President - Finance
(713) 756-7029
BELLWETHER EXPLORATION ANNOUNCES STRATEGIC DIRECTION
J.P. Bryan Elected Chairman and CEO
Cliff West and Robert Bensh Promoted to Senior Vice President
HOUSTON - Newly elected Chairman and CEO J.P. Bryan today announced Bellwether
Exploration Company's vision for the future. The Company's goal is to become an
industry leader, producing peerless performance in every important category of
financial measurement, thereby delivering superior value to shareholders.
The strategy to do this will be:
. Exploit and expand our three core areas in W. Texas, Louisiana and the Gulf
of Mexico by acquisition and expanded drilling.
. Expand the number of operated fields within the portfolio, extend the reserve
life index, and regularly divest mature properties to enhance financial
results.
. Pursue an international strategy that will focus on acquiring and exploiting
producing fields.
. Significantly improve exploration success by drilling in and around existing
core areas, both domestically and internationally.
. Company will favor its strength in low-risk exploration, acquisitions and
exploitation and will outsource all functions that do not add significant
value.
"We intend to be a top quartile performer in our peer group in every facet of
measurement," said Mr. Bryan. "At the same time, we intend to develop a
workplace that rewards creativity and contrarian thinking. All Bellwether
employees are committed to improving the financial performance of the company
and the resulting enhancement to shareholder value."
In addition to electing J.P. Bryan Chairman and CEO on a full time basis, the
Board of Directors promoted Cliff M. West, Jr. and Robert J. Bensh to Senior
Vice President - Exploitation & Exploration and Senior Vice President - Finance,
respectively. Mr. West, who joined the company in November 1997 as a
geophysicist, has over 35 years of oil and gas experience and most recently
served as Bellwether's International General Manager. In his new position, he
will direct Bellwether's domestic and international exploratory and development
efforts. Mr. Bensh, who has served as Vice President - Corporate Relations and
Capital Markets since joining Bellwether in
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January 1998, will be responsible for financial management for the Company. His
previous experience includes the former Box Energy and Torch Energy Advisors
Incorporated.
"Both Cliff and Rob are committed to our future success and have already been an
integral part of many significant accomplishments during their tenure. Their
promotions recognize that they will be instrumental in our growth and will serve
the Company well in the years ahead," said Mr. Bryan.
Bellwether will host a conference call to discuss this press release on
Wednesday, September 29, 1999 at 4:30 AM Eastern time/3:30 AM Central time.
Please dial (212) 896-6122 to access the call. The reservation number for this
call is 13248424.
Bellwether Exploration Company (NASDAQ: BELW) is an independent oil and gas
exploration and production Company headquartered in Houston, Texas. Bellwether
employs a program of producing property acquisitions and technology-driven
development to increase its reserves, cash flow and net asset value. The
Company's principal area of activity is West Texas and 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.
