UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
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In the Matter of
NATIONAL FUEL GAS COMPANY THIRTY-SECOND
NATIONAL FUEL RESOURCES, INC. CERTIFICATE
PURSUANT TO
File No. 70-7833 RULE 24
(Public Utility Holding Company Act of 1935)
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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, 1999. Also attached as Exhibit
"B" is the Balance sheet of NFR as of December 31, 1999.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 15th day of February, 2000.
NATIONAL FUEL RESOURCES, INC.
By: /s/ R. J. Kreppel
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R. J. Kreppel, President
NATIONAL FUEL GAS COMPANY
By: /s/ James R. Peterson
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James R. Peterson, Assistant Secretary
Exhibit A
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
Three Twelve
Months Ended Months Ended
December 31, 1999 December 31, 1999
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Actual Actual
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Operating Revenues $ 29,174,594 $ 107,836,081
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Operating Expenses:
Purchased Gas 27,053,986 98,374,519
Purchased Electric 354,217 1,563,097
Operation 1,613,820 4,762,394
Depreciation, Depletion
& Amortization 52,705 185,731
Franchise & Other Taxes 154,423 294,872
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29,229,151 105,180,613
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Operating Income (Loss) (54,557) 2,655,468
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Interest Income 67,642 360,958
Interest Expense 39,198 200,991
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Net Income (Loss) Before Taxes (26,113) 2,815,435
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Income Taxes:
Federal 8,247 1,080,493
State 550 55,586
Deferred (17,678) (136,895)
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(8,881) 999,184
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Net Income (Loss) $ (17,232) $ 1,816,251
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Exhibit B
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT DECEMBER 31,
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1999 1998
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ASSETS
Current Assets:
Cash and Temporary
Cash Investments $ 2,304,884 $ 10,870,850
Accounts Receivable 17,302,485 10,181,416
Accounts Receivable-Interco 501,474 4,839
Reserve for Bad Debts (852,910) (653,134)
Gas Stored Underground 7,520,398 2,767,455
Other Current Assets (84,381) 115,031
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26,691,950 23,286,457
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Property, Plant, and Equipment
Furniture and Fixtures 777,132 548,603
Less - Accumulated DD&A (350,150) (164,419)
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426,982 384,184
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Other Assets 492,300 711,664
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$ 27,611,232 $ 24,382,305
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LIABILITIES
Current Liabilities:
Accounts Payable $ 2,805,217 $ 7,224,295
Accrued Liabilities 1,889,506 690,365
Accounts Payable-Intercompany 794,906 1,122,133
Dividends Payable 100,000 35,000
Notes Payable - Intercompany 7,000,000 9,700,000
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12,589,629 18,771,793
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Long Term Liabilities:
Deferred Income Taxes (1,030,679) (889,876)
Miscellaneous Deferred Credits 2,946,774 (4,993,869)
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1,916,095 (5,883,745)
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Stockholder's Equity:
Common Stock 10,000 10,000
Capital Paid in Excess of Par 3,490,000 3,490,000
Retained Earnings 9,605,508 7,994,257
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Total Equity 13,105,508 11,494,257
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$ 27,611,232 $ 24,382,305
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