U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person
John L. Collins
24115 Falcon Point Drive
Katy, TX 77494
2. Issuer Name and Ticker or Trading Symbol
Fortune Natural Resources Corporation FPX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
5. If Amendment, Date of Original (Month/Year)
June 1998
6. Relationship of Reporting Person to issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below)
( ) Other (specify below)
Vice President - Investor Relations
<TABLE>
<CAPTION>
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TABLE I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of |2. Transaction |3. Transaction |4. Securities | 5. Amount of |6. Ownership Form:|7. Nature of
Derivative | Date | Code | Acquired (A) or | Securities | Direct (D) or | Indirect
Security | | | Disposed of (D) | Beneficially | Indirect (I) | Beneficial
| (Month/Day/ | (Instr. 8) | Instr. 3, 4 and 5) | Owned at End | | Ownership
| Year) | | | | (A) or| | of Month | |
| | Code | V | Amount | (D) | Price| (Instr. 3 and 4) | (Instr. 4) | (Instr. 4)
- -------------- -------------- ---------------- ---------------------- ------------------ ----------------- --------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 6/29/98 P 20,000 A $1.19 20,000 D
Common Stock 6/30/98 P 1,000 A $1.31 1,000 D
Common Stock 6/30/98 P 800 A $1.38 800 D
Common Stock 3,467 I 401(k) Plan
(unchanged)
Common Stock 88,000 D (unchanged)
</TABLE>
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<TABLE>
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TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1.Title |2.Conver- |3.Trans- |4.Transac- |5.Number of |6.Date Exer- |7.Title and |8.Price|9.Number |10.Owner- |11.Nature
of | sion or | action | action | Derivative | cisable and | Amount of | of | of | ship | of In-
Deriva-| Exercise | Date | Code | Securities | Expiration | Underlying | Deriv-| Deriv- | Form of| direct
tive | Price of | | | Acquired (A)| Date | Securities | ative | ative | Deriv- | Bene-
Secur- | Derivative| | | or Disposed | | | Secur-| Secur- | ative | ficial
ity | Security | (Month/| (Instr. | of (D) | | (Instr. 3 | ity | ities | Secu- | Owner-
(Instr.| | Day/ | 8) | | (Month/Day/ | and 4) | | Bene- | rity: | ship
3) | | Year) | | (Instr. 3, | Year) | |(Instr.| ficially| Direct |
| | | | 4 and 5) | | | 5) | Owned | (D) or | (Instr.
| | | | | | | | at End | Indi- | 4)
| | | | | | |Amount | | of Month| rect |
| | | | |Date |Expira-| |or | | (Instr. | (I) |
| | | | | | |Exer- |tion | |Number | | 4) | (Instr. |
| | |Code | V |(A) | (D) |cisable|Date |Title |of Shares| | | 4) |
- -------- ----------- --------- ---------- ------------- --------------- --------------- ------- ---------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock
Options 100,000 D(1) (unchanged)
Stock
Options 92,000 D(1) (unchanged)
Stock
Options 80,000 D(1) (unchanged)
Private
Warrants 25,000 D (unchanged)
</TABLE>
(1) These amounts are listed separately from the above mentioned security as
they each have different terms and exercise prices.
SIGNATURE OF REPORTING PERSON
/s/ John L. Collins
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DATE
July 10, 1998
