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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): April 12, 1999
CASTLE ENERGY CORPORATION
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(Exact Name of Registrant as Specified in Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation or Organization)
0-10990 76-0035225
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(Commission File Number) (I.R.S. Employer Identification No.)
One Radnor Corporate Center, Suite 250, 100 Matsonford Road, Radnor, PA 19087
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(Address of Principal Executive Offices) (Zip Code)
(610) 995-9400
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(Registrant's telephone number, including area code)
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(Former Name or Former Address, if Changed Since Last Report)
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Castle Energy Corporation ("Company") submits the following
information:
ITEM 2. Acquisition or Disposition of Assets
See Exhibit 2(i)
ITEM 7. Financial Statements and Exhibits
Historical financial statements concerning the assets to be
acquired, pro forma consolidated financial statements and other exhibits will be
submitted after the acquisition is actually consummated.
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SIGNATURE
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.
CASTLE ENERGY CORPORATION
Date: April 19, 1999 By: /s/ Richard E. Staedtler
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Richard E. Staedtler
Chief Financial Officer
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Exhibit 2(i)
NEWS
Release Date: April 12, 1999 Contact: Joseph L. Castle II
610-995-9400
Castle Energy Announces
Purchase of Oil And Gas Properties
RADNOR, PA, April 12, 1999 -- Castle Energy Corporation* (Nasdaq-NNM:CECX)
(the "Company") announced today that it had entered into an agreement with
AmBrit Energy Corp. ("AmBrit") to acquire essentially all of AmBrit's oil and
gas properties. The oil and gas assets purchased include producing properties in
Alabama, Louisiana, Mississippi, Montana, New Mexico, Oklahoma and Texas as well
as undrilled acreage in several of these states. The Company estimates the
proved reserves acquired to be approximately 27.5 billion feet of cubic gas
equivalent. The consideration to be paid is $22,000,000 of which ten percent was
deposited upon execution of the related purchase and sale agreement with the
balance to be funded at closing. The Company intends to fund the purchase using
corporate cash. Although the purchase and sale agreement contains several
customary conditions to closing, the Company anticipates closing by June 1,
1999.
The Company currently owns interests in approximately 300 oil and gas
wells located primarily in the Appalachian basin and a gas sales contract with
Lone Star Gas Company which expires May 31, 1999.
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*Castle Energy Corporation is not affiliated with Castle Oil Corporation.
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