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 January 4, 1996
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
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Pursuant to a purchase and sale agreement between the Registrant and
Energy Development Corporation ("Seller"), dated November 16, 1995, Registrant
has purchased an interest in approximately 250 producing wells located in the
Garza Field (Garza County, Texas). The acquisition was closed on December 21,
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 $18,750,000 comprised of $5,750,000 in funds accumulated by the Registrant
in the ordinary course of business and $13,000,000 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.
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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 March 4, 1996.
(b) Pro Forma Financial Information.
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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 March 4, 1996.
(c) Exhibits.
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10.1 Purchase and Sale Agreement dated November 16, 1995, between
the Registrant and Energy Development Corporation covering
the acquisition of producing oil and gas properties in Garza
County, Texas filed herewith. (To be filed by Amendment)
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: January 4, 1996 <PAGE>
