XCL LTD
POS AM, 1996-09-09
CRUDE PETROLEUM & NATURAL GAS
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As filed with the Securities and Exchange Commission on September 3, 1996

                                        Registration No. 33-41458


               SECURITIES AND EXCHANGE COMMISSION
                      Washington, DC 20549
               ----------------------------------
                                
                 POST-EFFECTIVE AMENDMENT NO. 2
                               TO
                            FORM S-3
                     REGISTRATION STATEMENT
                UNDER THE SECURITIES ACT OF 1933
                                
               -----------------------------------
                            XCL LTD.
       (Exact name of issuer as specified in its charter)
                                
               Delaware                         51-0305643
(State or other jurisdiction of             (I.R.S. Employer
incorporation or organization)                Identification
Number)

                      110 Rue Jean Lafitte
                   Lafayette, Louisiana  70508
                         (318) 237-0325
 (Address, including zip code and telephone no., including area
       code, of registrant's principal executive offices)
                                
                                
                        David A. Melman, Esq.
            Executive Vice President, General Counsel
                          and Secretary
                            XCL Ltd.
                      110 Rue Jean Lafitte
                   Lafayette, Louisiana  70508
                         (318) 237-0325
(Name, address, including zip code, and telephone no., including
                area code, of agent for service)
                                
                                
                         With Copies To:
                    Peter A. Basilevsky, Esq.
                Satterlee Stephens Burke & Burke
                         230 Park Avenue
                    New York, New York 10169
                         (212) 818-9200
                    -------------------------
                                
             This  Post-Effective Amendment No. 2 to  Registration
Statement  on Form S-3 (Reg. No. 33-42458) shall hereafter  become
effective in accordance with the provisions of Section 8(c) of the
Securities Act of 1933.
                                
                  DEREGISTRATION OF SECURITIES
                                
             In  accordance  with  the undertaking  of  XCL  Ltd.,
formerly   The  Exploration  Company  of  Louisiana,   Inc.   (the
"Company"),  set forth in that certain registration  statement  on
Form  S-3 (File No. 33-41458), declared effective on November  12,
1992   (the   "Registration  Statement"),   the   Company   hereby
deregisters an aggregate of 1,888,889 shares of common stock,  par
value  $.01  per share (the "Common Stock"), previously registered
under  the  Securities Act of 1933, as amended,  pursuant  to  the
Registration  Statement, issuable upon exercise of  the  Company's
Class  A-1 Warrants issued to China Investment & Development  Co.,
Ltd.  (500,000  shares); and $1.00 Warrants issued to  Independent
Drilling  Services,  Inc. (1,388,889 shares),  which  Warrants  to
purchase Common Stock have expired unexercised in accordance  with
their respective terms.

                           SIGNATURES
                                
                                
             Pursuant to the requirements of the Securities Act of
1933,  the Registrant certifies that it has duly caused this Post-
Effective Amendment No. 2 to the Registration Statement on Form S-
3  (File  No.  33-41458)  to  be  signed  on  its  behalf  by  the
undersigned, thereunto duly authorized, in the City of  Lafayette,
State of Louisiana, on the 3rd day of September, 1996.


                                          XCL LTD.
                                        (Registrant)

                                      /s/ David A. Melman
                                  By:----------------------
                                     David A. Melman
                                     Executive Vice President,
                                     General Counsel and Secretary

      Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed by the following
persons in the capacities and on the dates indicated.

Signature                        Title                           Date

/s/ Marsden W. Miller, Jr.*
- - --------------------------    Chairman of the Board and
Marsden W. Miller, Jr.        Chief Executive Officer      September 3, 1996

/s/ John T. Chandler
- - --------------------------    President and Director       September 3, 1996
John T. Chandler

/s/ David A. Melman
- - ---------------------------   Executive Vice President,
David A. Melman               General Counsel, Secretary   September 3, 1996
                              and Director

/s/ Fred Hofheinz *
- - ---------------------------   Director                     September 3, 1996
Fred Hofheinz

- - ---------------------------   Director                     -----------, 1996
Arthur W. Hummel, Jr.

- - ---------------------------   Director                     -----------, 1996
Michael Palliser

- - ---------------------------   Director                     -----------, 1996
Francis J. Reinhardt, Jr.

*    By David A. Melman, Attorney in Fact, pursuant to Power
     of Attorney originally filed on June 28, 1991 with signature
     pages to Registration Statement on Form S-3, Reg. No. 33-41458.




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