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
J. (John) Michael Urban
515 W. Greens Road, Suite 720
Houston, TX 77067
2. Issuer Name and Ticker or Trading Symbol
Fortune Natural Resources Corporation FPXA
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
January 2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below)
( ) Other (specify below)
Vice President and Chief Financial Officer
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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 1/21/2000 T 14,222 A $0.3516 21,748 I 401(k) Plan
Common Stock 5,000 I IRA (unchanged)
Common Stock 10,000 I Keogh (unchanged)
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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 1/27/ 1/26/ Common
Options $1.16 1/27/2000 A 150,000 2000 2005 Stock 150,000 $1.16 150,000 D
Stock
Options 120,000 D(1) (unchanged)
Stock 150,000 D(1) (unchanged)
Options
Stock 100,000 D(1) (unchanged)
Options
Stock 20,000 D(1) (unchanged)
Options
Private 35,000 D(1) (unchanged
Warants
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(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/ J. Michael Urban
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DATE
January 31, 2000
