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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY TWENTY-THIRD
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 Twelve Months ended September 30, 1997. Also attached as Exhibit "B" is the
Balance sheet of NFR as of September 30, 1997.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 11th day of November, 1997.
NATIONAL FUEL RESOURCES, INC.
By: /s/ R. J. Kreppel
----------------------------------
R. J. Kreppel, President
NATIONAL FUEL GAS COMPANY
By: /s/ James R. Peterson
----------------------------------
James R. Peterson, Asst. Secretary
EXHIBIT A - FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Twelve Months
Ended
September 1997
--------------
Operating Revenues:
Gas - Retail $44,392,965
Gas - Wholesale 21,026,792
Transportation 2,945,584
Other 1,687,698
-----------
70,053,039
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Operating Expenses:
Purchase Gas 65,532,090
General & Administrative 2,210,794
Amortization 14,063
Franchise & Other Taxes 341,060
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68,098,007
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Operating Income 1,955,032
-----------
Interest Income 478,392
Misc. Income or Expense 96,341
Interest Expense 31,225
-----------
543,508
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Net Income (Loss) Before Taxes 2,498,540
-----------
Income Taxes:
Federal 946,907
State 153,366
Deferred (168,972)
-----------
931,301
-----------
Net Income/(Loss) $ 1,567,239
===========
EXHIBIT B - FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1997
(Unaudited)
ASSETS
Current Assets:
Cash $ (116,721)
Short Term Investments 9,441,352
Accounts Receivable 3,446,645
Accounts Receivable-Interco 38,909
Reserve for Bad Debts (541,440)
Other Current Assets 3,697,444
-----------
15,966,189
-----------
Property, Plant, and Equipment
Furniture and Fixtures 164,749
Less - Accumulated DD&A (41,371)
-----------
123,378
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Other Assets:
Long Term Investments 831,023
Other Deferred Debits 162,740
-----------
993,763
-----------
$17,083,330
===========
LIABILITIES
Current Liabilities:
Accounts Payable $ 70,680
Accrued Liabilities 3,940,812
Accrued Sales Taxes 0
Current Income Taxes-Federal (385,937)
Current Income Taxes-State 82,125
Accounts Payable-Intercompany 74,302
Dividends Payable 0
-----------
3,781,982
-----------
Long Term Liabilities:
Deferred Income Taxes (723,006)
Miscellaneous Deferred Credits 3,362,213
-----------
2,639,207
-----------
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 7,477,141
Retained Earnings - Dividends (315,000)
-----------
Total Equity 10,662,141
-----------
$17,083,330
===========
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