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UNITED STATES
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
September 8, 1999
Date of Report
(Date of earliest event reported)
BARGO ENERGY COMPANY
(Exact name of small business issuer as specified in its charter)
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Texas 0-8609 87-0239185
(State or other jurisdiction of (Commission file number) (I.R.S. Employer
incorporation or organization) Identification No.)
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700 Louisiana, Suite 3700
Houston, Texas 77002
(Address of principal executive offices, including zip code)
(713)236-9792
(Issuer's telephone number, including area code)
Not Applicable
(Former name and former address,
if changed since last report)
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT
Not applicable
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On September 8, 1999, Bargo Energy Company completed the previously
announced acquisition of interests in 40 leases, a waterflood unit, over 60
royalty properties and an oil transportation contract in the East Texas Field
from Atlantic Richfield Company. The purchase price for these assets and
properties of approximately $16 million was funded from the Company's revolving
line of credit with Bank of America. The purchase price was determined on the
basis of arm's length negotiations after an evaluation of the properties by the
Company's engineers. The press release attached hereto as Exhibit 99A provides
additional information about the acquisition and is hereby incorporated by
reference.
There are no material relationships between the Company and its
affiliates and Atlantic Richfield Company and its affiliates.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not applicable
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not applicable
ITEM 5. OTHER EVENTS
Not applicable
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not applicable
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Business Acquired.
The financial statements of the acquired business required to be
filed pursuant to Item 7 will be filed as an amendment to this current report
not later than 60 days after the date this report is due.
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(b) Pro Forma Financial Information.
The pro forma financial information required to be filed pursuant to
Item 7 will be filed as an amendment to this current report not later than 60
days after the date this report is due.
(c) Exhibits
99A. Copy of the Company's Press Release dated September 13, 1999
ITEM 8. CHANGE IN FISCAL YEAR
Not applicable
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Bargo Energy Company
(Registrant)
Dated: September 20, 1999 By: /s/ JONATHAN M. CLARKSON
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Jonathan M. Clarkson, President
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EXHIBIT INDEX
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Exhibit
Number Title of Document
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99A Copy of the Company's Press Release dated September 13, 1999
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EXHIBIT 99A
FOR IMMEDIATE RELEASE Contact: Tim Goff, Chairman and CEO
September 13, 1999 713-236-9792
BARGO ENERGY COMPANY ACQUIRES EAST TEXAS ASSETS
HOUSTON, TEXAS- Bargo Energy Company (OTCBB:BARG) today announced the
acquisition by the Company of interests in 40 leases, a waterflood unit, over
60 royalty properties and an oil transportation contract in the East Texas
Field from Atlantic Richfield Company (ARC) for approximately $16 million.
Current daily production is approximately 2,500 net barrels of oil equivalent
per day from 500 producing wells.
Bargo explores, develops and acquires oil and gas properties principally in
Texas, Louisiana and California.
This Press 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. All statements other than statements of historical facts
included in this Press Release, including statements regarding the Company's
estimated reserve quantities, business strategy, plans and objectives of
management of the Company for future operations and budget estimates, are
forward-looking statements. The Company can give no assurances that the
assumptions upon which such forward looking statements are based will prove to
have been correct. Important factors that could cause actual results to differ
materially from the Company's expectations ("Cautionary Statements") include
volatility of oil and gas prices, the markets for oil and gas, environmental
regulations, the substantial capital requirements associated with oil and gas
operations and other factors are set forth in the Company's reports filed with
the Securities and Exchange Commission, including the Company's Form 10-KSB for
its 1998 fiscal year. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on its behalf are
expressly qualified by the Cautionary Statements.
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