3
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of
FIRST
NATIONAL FUEL GAS COMPANY CERTIFICATE
HORIZON ENERGY DEVELOPMENT, INC. PURSUANT TO
RULE 24
File No. 70-8649
(Public Utility Holding Company Act of 1935)
THIS IS TO CERTIFY, pursuant to Rule 24, that certain filing
requirements proposed by National Fuel Gas Company ("National")
and its subsidiary, Horizon Energy Development, Inc. ("Horizon")
in Form U-1, Application-Declaration, File No. 70-8649, as
amended, have been carried out in accordance with the terms and
conditions of said Application-Declaration and the Order of the
Securities and Exchange Commission (the "Commission') (HCAR No.
35-26364 dated August 29, 1995) with respect thereto, in that,
the following information for the quarter ended September 30,
1995 is herein provided:
1a) Horizon's balance sheet at September 30, 1995
is attached as Exhibit 1.
1b) National's balance sheet at September 30,
1995 will be included in
National's Form 10k for fiscal 1995 which is
anticipated to be filed with the Commission in
December 1995 and is incorporated herein by
reference.
2a) Horizon's income statement for the quarter
ended September 30, 1995
is attached as Exhibit 2.
2b) National's income statement for the quarter
ended September 30, 1995
will be included in National's Form 10k for fiscal
1995 which is anticipated to be filed with the
Commission in December 1995 and is incorporated
herein by reference.
3) Recourse and non-recourse debt
securities issued to third parties by
Intermediate Companies during the quarter ended
September 30, 1995.
None.
4) A general description of the activities
of the Applicants for the period
ended September 30, 1995 and of the projects in which
they or their subsidiary companies have an ownership
interest:
a) Effective as of September 15, 1995 Novergaz (1994), Inc. and
Sceptre Energy, Inc., individually and as partners of Sceptre
Power Company (the "Partnership") sold, assigned, and transferred
to Horizon one hundred percent (100%) of their interests in and
to the Partnership and its assets. Horizon is the Managing
Partner of the Partnership and, subject to certain distribution
sharing provisions applicable to the non-equity partners, all
ownership and voting interest of the Partnership belong to
Horizon.
The business of the Partnership is to develop,
finance, construct and operate Exempt Projects
and Domestic Power Projects as those terms are
defined in HCAR 35-26364; File No. 70-8649.
Horizon will fund the working capital expenses
of the Partnership. Horizon will have the
opportunity to re-coup those expenses and to
earn development fees through projects developed
by the Partnership and to make equity
investments in such projects.
b) On or about September 8, 1995 a Consortium of National Fuel,
the Partnership and Steward and Stevenson Operations, Inc.
submitted pre-qualification credentials to the Special Committee
for the Promotion of Private Investment in Electroperu S.A.
("CEPRI") in connection with CEPRI's solicitation of bids for a
proposed 15 MW electric generation project in northwestern Peru
(the "Project"). On or about September 28, 1995 the Partnership
was assigned National Fuel's interest in the Consortium. The
Consortium has qualified to bid on the Project.
c) On September 12, 1995 National Fuel Gas Company submitted an
application to bid on the privatization of the Hungarian gas
distribution company known as Eszakdunantuli Gazszolgaltato
("EGAZ") and subsequently qualified to submit a bid.
5) Information on intercompany service
transactions (including those
provided at cost and at market rates)
involving affiliated Intermediate Companies.
None, neither Horizon nor National has any
affiliate Intermediate Companies at this time.
November 29, 1995 NATIONAL FUEL GAS COMPANY
By: /s/Gerald T. Wehrlin
Gerald T. Wehrlin
Controller
HORIZON ENERGY DEVELOPMENT, INC.
BALANCE SHEET
At September 30, 1995
ASSETS
Current Assets:
Cash $ 632,459
Total Current Assets 632,459
Property, Plant & Equipment 69,832
Less: Reserve for DDA
69,832
Other Assets:
Deferred Charges 711,528
Total Other Assets 711,528
Total Assets $ 1,413,819
LIABILITIES AND STOCKHOLDERS EQUITY
Capital Stock $1 Par:
Authorized 500 Shares Issued and Outstanding $ 500
Paid-In-Capital 999,500
Retained Earnings (162,500)
Total Stockholders Equity 837,500
Current and Accrued Liabilities:
Accounts Payable 24,868
Accounts Payable - Intercompany 638,951
Total Current and Accrued Liabilities 663,819
Deferred Credits:
Accumulated Deferred Income Taxes (87,500)
Total Deferred Credits (87,500)
Total Liabilities and Stockholders Equity $ 1,413,819
HORIZON ENERGY DEVELOPMENT, INC.
INCOME STATEMENT
One Month Ended
September 30, 1995
Operating Expenses:
Operations Expense $ 250,000
Total Operating Expenses 250,000
Pretax Loss (250,000)
Income Taxes-Deferred (87,500)
Net Loss $ (162,500)
