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Previous: NATIONAL FUEL GAS CO, 35-CERT, 1997-04-30 |
Next: NATIONAL PATENT DEVELOPMENT CORP, DEF 14A, 1997-04-30 |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY TWENTIETH
NATIONAL FUEL RESOURCES, INC. CERTIFICATE
PURSUANT TO
File No. 70-7833 RULE 24
(Public Utility Holding Company Act of 1935)
- --------------------------------------------
In accordance with the terms of the Order dated December 20, 1991
issued to National Fuel Gas Company ("National") authorizing National to acquire
the common stock of National Fuel Resources, Inc. ("NFR") (File No. 70-7833,
HCAR No. 35-25437), attached as Exhibit "A" is an Income Statement of NFR for
the Three and Twelve Months ended December 31, 1996. Also attached as Exhibit
"B" is the Balance sheet of NFR as of December 31, 1996. This filing is late due
to an oversight caused by an internal change of responsibility. The undersigned
companies apologize for any inconvenience this may have caused.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 22nd day of April, 1997.
NATIONAL FUEL RESOURCES, INC.
By: /s/ R. J. Kreppel
----------------------------------------
R. J. Kreppel, President
NATIONAL FUEL GAS COMPANY
By: /s/ G. T. Wehrlin
----------------------------------------
G. T. Wehrlin, Controller
Exhibit A - File No. 70-7833
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Three Months Twelve Months
Ended Ended
December 1996 December 1996
------------- -------------
Operating Revenues:
Gas - Retail $ 9,099,078 $51,514,129
Gas - Wholesale 4,427,739 10,869,843
Other (12,235) 1,038,227
----------- -----------
13,514,582 63,422,199
----------- -----------
Operating Expenses:
Purchase Gas 12,646,211 58,914,523
General & Administrative 510,176 1,732,406
Depreciation, Depletion & Amortization 4,327 14,064
Franchise & Other Taxes 68,610 57,852
----------- -----------
13,229,324 60,718,845
----------- -----------
Operating Income 285,258 2,703,354
----------- -----------
Interest Income 166,080 539,282
Interest Expense 4,159 17,608
Amortization & Misc. Deducts (12,456) (64,312)
----------- -----------
174,377 585,986
----------- -----------
Net Income (Loss) Before Tax 459,635 3,289,340
----------- -----------
Income Taxes:
Federal 199,542 1,514,833
State 17,227 130,771
Deferred (46,165) (419,376)
----------- -----------
170,604 1,226,228
----------- -----------
Net Income $ 289,031 $ 2,063,112
=========== ===========
EXHIBIT B - FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT DECEMBER 31, 1996
(Unaudited)
ASSETS
Current Assets:
Cash $ 1,426,962
Short Term Investments 4,636,217
Accounts Receivable 11,628,602
Accounts Receivable-Interco 67,329
Reserve for Bad Debts (540,951)
Other Current Assets 620,394
-----------
17,838,553
-----------
Property, Plant, and Equipment
Furniture and Fixtures 68,582
Less - Accumulated DD&A 31,636
-----------
36,946
-----------
Other Assets:
Long Term Investments 1,462,562
Other Deferred Debits 118,310
-----------
1,580,872
-----------
$19,456,371
===========
LIABILITIES
Current Liabilities:
Accounts Payable $ 3,774,562
Accrued Liabilities 2,017,284
Current Income Taxes-Federal 213,698
Current Income Taxes-State 126,881
Accounts Payable-Intercompany 1,355,550
Dividends Payable 35,000
-----------
7,522,974
-----------
Long Term Liabilities:
Deferred Income Taxes (600,199)
Miscellaneous Deferred Credits 3,044,662
-----------
2,444,463
-----------
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 6,198,934
Retained Earnings - Dividends (210,000)
-----------
Total Equity 9,488,934
-----------
$19,456,371
===========
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