SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 2, 2000
FORTUNE NATURAL RESOURCES CORPORATION
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(Exact name of Registrant as specified in its charter)
Delaware 1-12334 95-4114732
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
515 W. Greens Road, Suite 720, Houston, Texas 77067
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (281) 872-1170
Registrant's telecopier number, including area code: (281) 872-1213
N/A
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
OCTOBER 2, 2000 - HOUSTON, TEXAS - FORTUNE NATURAL RESOURCES CORPORATION
(NASDAQ OTC BB SYMBOL: FPXA) today provided this exploration program update:
LOUISIANA ONSHORE ACTIVITY:
CUT OFF FIELD, LAFOURCHE PARISH, LOUISIANA
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K. PIERCE #1 WELL: In late July, 2000, Fortune completed an acquisition of
a net 35% non-operated working interest in a well in the Cut Off Field,
Lafourche Parish, Louisiana. Fortune and its partners acquired the property with
the intention of increasing production by re-completing the well. Fortune's net
cost of the acquisition was approximately $106,000.
The well has now been re-completed and is producing approximately 2
million cubic feet of gas per day and 10 barrels of condensate per day into the
sales line. The well is still cleaning up and pressure is increasing. Fortune's
35% working interest share of the re-completion was approximately $43,000. At
current prices and production, the well should cash flow approximately $80,000
per month to the Company.
TEXAS GULF COAST AND STATE WATERS ACTIVITY:
CADIZ PROSPECT - BEE COUNTY, TEXAS - ONSHORE:
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BROOKS #2 WELL:Final logging results of the Brooks #2 well, the second
Cadiz 3-D Seismic Prospect, indicate that the well encountered approximately 40
feet of net pay in the Slick sand and then crossed a fault and did not see the
principal target Luling sands.
The well has been perforated in the top portion of the Slick sand and is
flowing approximately one-half million cubic feet of gas per day, on a 12/64"
choke, into the sales line. Production is increasing as the well cleans up. The
partners are considering drilling a third well to reach the Luling sands that
were faulted out of the Brook's #2, but productive in the Brooks #1 drilled in
June 2000. Fortune owns a 6.5625% working interest in the producing well. The
well was drilled on a 3-D seismic anomaly generated from 3-D seismic licensed by
Fortune.
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FORTUNE NATURAL RESOURCES CORPORATION is an independent oil and gas
exploration and production company with its principal properties located onshore
and offshore Louisiana and Texas. Certain statements in this news release
regarding future expectations and plans may be regarded as "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. They are subject to various
risks, such as operating hazards, drilling risks, and other uncertainties
inherent in the business of exploring for, developing and producing oil and gas
which may be beyond the Company's control. For a discussion of the contingencies
and uncertainties affecting future events and forward-looking statements, see
Fortune's most recent Annual Report on Form 10-KSB/A, as well as other filings
with the Securities and Exchange Commission. There can be no assurance that the
Company will be successful in meeting its expectations.
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Company Contact: Angela McLane
(281) 872-1170
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
None.
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SIGNATURE
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 thereunto duly authorized.
FORTUNE NATURAL RESOURCES CORPORATION
By: /s/ Tyrone J. Fairbanks
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Tyrone J. Fairbanks
President and Chief Executive Officer
Date: October 2, 2000
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