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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
Date of Report (Date of Earliest Event Reported) March 29, 1995
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MAYNARD OIL COMPANY
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(Exact name of registrant as specified in its charter)
Delaware 0-5704 75-1362284
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
8080 N. Central Expressway, Suite 660, Dallas, Texas 75206
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Registrant's telephone number, including area code: (214)891-8880
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INFORMATION TO BE INCLUDED
IN THE REPORT
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Pursuant to an agreement of sale between the Registrant and
Pennzoil Exploration & Production Company ("Seller"), dated February
1, 1995, Registrant has purchased an interest in approximately 200
producing wells located in seven counties in West Texas, (Andrews,
Crane, Crockett, Hall, Motley, Pecos and Ward Counties). The
acquisition was closed on March 29, 1995. The Registrant intends to
conduct production and development operations on the properties.
The purchase price and sales terms of the transaction were
arrived at through arms length negotiations. The combined
consideration for the properties was $10,500,000 comprised of
$1,000,000 in funds accumulated by the Registrant in the ordinary
course of business and $9,500,000 provided under a secured loan
agreement entered into with Bank One, Texas, N.A. in conjunction with
the acquisition.
There is no material relationship between the Seller and
Registrant or any of its affiliates, or with any director, officer or
associate of any director or officer of the Registrant.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(a) Financial Statements of Businesses Acquired.
The Company is in the process of preparing the
financial information required for the acquisition of
these assets and is also having this information
audited. An audited statement of gross revenues and
expenses for the previous two years will be filed on or
before June 12, 1995.
(b) Pro Forma Financial Information.
The Company is also preparing the pro forma financial
information required for the acquisition of these
assets and will file such pro forma information along
with the previous two years' gross revenues and
expenses on or before June 12, 1995.
(c) Exhibits.
2(a) Purchase and Sale Agreement dated February 1,
1995, between the Registrant and Pennzoil
Exploration & Production Company covering the
acquisition of producing oil and gas properties in
Andrews, Crane, Crockett, Hall, Motley, Pecos and
Ward Counties, Texas filed herewith. (To be filed
by amendment.)
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
MAYNARD OIL COMPANY
BY: /s/ Kenneth W. Hatcher
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Kenneth W. Hatcher
Vice President of Finance
Dated: April 13, 1995
