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): October 13, 2000
TEXOIL, INC.
(Exact name of small business issuer as specified in its charter)
NEVADA 0-12633 88-0177083
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
110 Cypress Station Drive
Suite 220
Houston, Texas 77090
(Address or principal executive offices)
(281) 537-9920
(Issuer's telephone number)
(NOT APPLICABLE)
(Former name or former address, if changed since last report)
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Texoil - Page 2
ITEM 2. ACQUISITION OF PRODUCING PROPERTIES
On October 13, 2000 the Company closed the acquisition, from EEX Operating, L.P.
and EEX E&P Company, L.P., of working interests in producing gas and oil
properties in South Texas, located primarily in Colorado and Goliad counties,
for approximately $9.8 million, net of closing adjustments. The Company will
operate a majority of these properties. The acquisition, which is effective July
1, 2000, adds approximately 17 billion cubic feet of gas and 126,000 barrels of
associated oil and condensate to the Company's reserves and approximately 3.8
MMcf to its daily gas production. The addition of these properties increases the
Company's total estimated proved reserves to approximately 95.3 Bcf of gas and
13.7 MMBbl of oil and condensate based on a reserve report prepared as of
October 1, 2000 (adjusted on a pro-forma basis for the acquisition) on an SEC
basis. The properties were purchased as proved producing assets with exploration
and development potential. Texoil also acquired certain 2D and 3D seismic data
and undeveloped acreage. The transaction was financed entirely with bank debt
under an existing credit agreement. Participating banks are Comerica Bank -
Texas and First Union National Bank.
This Form 8-K contains forward-looking statements within the meaning of Section
27A of The Securities Act of 1933 and Section 21E of The Securities Act of 1934.
Texoil believes that its expectations are based on reasonable business
assumptions, however, no assurance can be given that the Company's goals will be
achieved.
ITEM 7.FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired - Not Required
(b) Pro forma financial information - Not Required
(c) Exhibits - None
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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 thereunder duly authorized.
DATE: October 24, 2000 TEXOIL, INC.
By: /s/ FRANK A. LODZINSKI
FRANK A. LODZINSKI
Chief Executive Officer and
President
