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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 (Date of earliest event reported): August 18, 1997
ARABIAN SHIELD DEVELOPMENT COMPANY
(Exact Name of Registrant as Specified in its Charter)
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Delaware 0-6247 75-1256622
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
10830 North Central Expressway, Suite 175
Dallas, Texas 75231
(Address of Principal Executive Offices) (Zip Code)
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Registrant's telephone number, including area code:
(214) 692-7872
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Item 5. Other Events.
On August 18, 1997, the Executive Director of the Texas Natural Resource
Conservation Commission ("TNRCC") filed a preliminary report and petition with
the TNRCC recommending that the TNRCC enter an enforcement order assessing
administrative penalties against and requiring certain actions of South Hampton
Refining Company ("South Hampton"), an indirect wholly owned subsidiary of
Arabian Shield Development Company (the "Company"). The TNRCC alleges that
South Hampton has violated various TNRCC rules, TNRCC permits issued to South
Hampton, a TNRCC order issued to South Hampton, the Texas Water Code, the Texas
Clean Air Act and the Texas Solid Waste Disposal Act. The violations generally
relate to the management of volatile organic compounds in a manner that
allegedly violates the TNRCC's air quality rules and the storage, processing
and disposal of hazardous waste in a manner that allegedly violates the TNRCC's
industrial and hazardous waste rules. The Executive Director of the TNRCC
recommends that the TNRCC enter an order assessing administrative penalties
against South Hampton in the amount of $709,408, and recommends that the TNRCC
order South Hampton to undertake such actions as are necessary to bring its
operations at its refinery and its bulk terminal into compliance with Texas
Water Code, the Texas Health and Safety Code, TNRCC rules, permits and orders.
South Hampton intends to vigorously defend against this proceeding.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ARABIAN SHIELD DEVELOPMENT COMPANY
Date: October 30, 1997
By:/s/ DREW WILSON, JR.
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Drew Wilson, Jr.
Secretary and Treasurer
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