<PAGE> 1
File No. 69-299
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
Form U-3A-2
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER RULE
U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY HOLDING
COMPANY ACT OF 1935
To be Filed Annually Prior to March 1
NWO RESOURCES, INC.
hereby files with the Securities and Exchange Commission, pursuant to Rule
U-3A-2, its statement claiming exemption as a holding company from the
provisions of the Public Utility Holding Company Act of 1935. In support of
such claim for exemption the following information is submitted:
1. Name, state of organization, location and nature of business of
claimant and every subsidiary thereof, other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly or
indirectly holds an interest.
See List of Companies (Attachment 1)
NWO Resources, Inc. ("NWO") was organized to acquire shares of Ohio Gas
Company on December 12, 1984; NWO was incorporated in Ohio and is
located in Columbus, Ohio.
2. A brief description of the properties of claimant and each of its
subsidiary public utility companies used for the generation,
transmission, and distribution of electric energy for sale, or for the
production, transmission, and distribution of natural or manufactured
gas, indicating the location of principal generating plants,
transmission lines, producing fields, gas manufacturing plants, and
electric and gas distribution facilities, including all such properties
which are outside the State in which claimant and its subsidiaries are
organized and all transmission or pipelines which deliver or receive
electric energy or gas at the borders of such State.
Ohio Gas Company's pipe line system serves the communities of Bryan,
Edgerton, Edon, Montpelier, Pioneer, Stryker, West Unity in Williams
County, Ohio; Archbold, Lyons, Metamora, Pettisville, Swanton, Wauseon,
Fayette, Delta, in Fulton County, Ohio; Antwerp, Paulding, Payne in
Paulding County, Ohio; Florida, Liberty Center, Napoleon, Okolona,
Ridgeville Corners in Henry County, Ohio; Defiance, Hicksville, Ney,
Sherwood in Defiance County, Ohio; Neapolis, Whitehouse in Lucas County,
Ohio and rural customers in these areas.
<PAGE> 2
NWO RESOURCES, INC.
U-3A-2, File No. 69-299
Page two
2. (Continued)
Ohio Gas Company is both a distributor and transporter of natural
gas. All natural gas is delivered to Ohio Gas Company's system by
Panhandle Eastern Pipe Line Company and ANR Pipeline Company. Ohio
Gas Company's transmission and distribution system consists of
approximately 1,237 miles of mains (on a 3-inch main equivalent
basis) serving, as of December 31, 1996, approximately 40,716
customers in northwest Ohio. Ohio Gas Company purchases gas for sale
to customers from various suppliers and producers.
Other companies referenced under item 1 have no properties.
3. The following information is for the last calendar year with respect
to claimant and each of the subsidiary public utility companies:
(a) Number of kwh of electric energy sold (at retail or wholesale),
and Mcf of natural or manufactured gas distributed at retail.
Ohio Gas Company sold at retail 6,794,011 Mcf of natural gas
during the last calendar year. In addition, 3,939,418 Mcf of gas
was transported for industrial and commercial customers.
Other companies referenced under item 1 -
NONE
(b) Number of Kwh of electric energy and Mcf of natural or
manufactured gas distributed at retail outside the State which
each such company is organized.
NONE
(c) Number of Kwh of electric energy and Mcf of natural or
manufactured gas sold at wholesale outside the State in which
each such company is organized, or at the State line.
NONE
(d) Number of Kwh of electric energy and Mcf of natural or
manufactured gas purchased outside the State in which each such
company is organized or at the State line.
NONE
<PAGE> 3
NWO RESOURCES, INC.
U-3A-2, File No. 69-299
Page three
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in a EWG
or a foreign utility company, stating monetary amounts in United
States dollars:
(a) Name, location, business address and description of the
facilities used by the EWG or foreign utility company for the
generation, transmission and distribution of electric energy for
sale or for the distribution at retail of natural or manufactured
gas.
NONE
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
NONE
(c) Type and amount of capital invested, directly or indirectly, by
the holding company claiming exemption; and any direct or
indirect guarantee of the security of the EWG or foreign utility
company by the holding company claiming exemption; and any debt
or other financial obligation for which there is recourse,
directly or indirectly, to the holding company claiming exemption
or another system company, other than the EWG or foreign utility
company.
NONE
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
NONE
(e) Identify any service, sales or construction contract(s) between
the EWG or foreign utility company and a system company, and
describe the services to be rendered or goods sold and fees or
revenues under such agreement(s).
NONE
<PAGE> 4
NWO RESOURCES, INC.
U-3A-2, File No. 69-299
Page four
EXHIBIT A
A consolidating statement of income and surplus of the claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of claimant and its subsidiary companies as of the close of such
calendar year.
NWO Resources and Subsidiaries - (Attachment 2)
Oceanic Exploration Company (a 49% owned investee of International
Hydrocarbons) and its subsidiaries - (Attachment 3)
EXHIBIT B
Not Applicable
EXHIBIT C
Not Applicable
- -----------------------------------------------------------------------------
The above-named claimant has caused this statement to be duly executed on its
behalf by its authorized officer on the 17th day of February, 1997.
NWO Resources, Inc.
by: /s/ John E. Jones
-------------------------------------
John E. Jones
Secretary/Treasurer
Witness: /s/ Joyce E. Knighton
---------------------
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Mr. Samuel Randazzo
65 East State Street, 18th Floor
Columbus, Ohio 43215
<PAGE> 5
Attachment 1
NWO Resources, Inc.
List of Companies
SUBSIDIARIES:
Ohio Gas Company Ohio Corporation
200 West High Street Natural Gas Distributor
Bryan, Ohio 43506 E.I.N. 34-4320120
Ohio Northwest Development, Inc. Ohio Corporation
200 West High Street Propane Storage Facility
Bryan, Ohio 43506 E.I.N. 34-1041621
International Hydrocarbons Wyoming Corporation
P.O. Box 467 Investment Corporation
Cheyenne, Wyoming 82003 E.I.N. 83-0275908
INVESTEES (MORE THAN 10% BUT LESS THAN 50% OWNERSHIP):
Oceanic Exploration Company Delaware Corporation
5000 South Quebec, Suite 450 Oil and Gas Exploration/Leasing
Denver, Colorado 80237 E.I.N. 84-0591071
Oceanic International Properties* Colorado Corporation
5000 South Quebec, Suite 450 Oil and Gas Exploration/Leasing
Denver, Colorado 80237 E.I.N. 84-0742419
Oceanic Atlantic Resources* U.K. Corporation
(North Sea) Limited Oil and Gas Exploration/Leasing
c/o Oceanic Exploration Company E.I.N. None
5000 South Quebec, Suite 450
Denver, Colorado 80237
* 100% owned subsidiary of Oceanic Exploration Company.
<PAGE> 6
Attachment 2
NWO RESOURCES, INC.
CONSOLIDATING BALANCE SHEET
December 31, 1996
<TABLE>
<CAPTION>
NWO Ohio Northwest
Resources Ohio Gas Development, International Consolidating
Inc. Company Inc. Hydrocarbon entries Consolidated
------------------------------------------------------------------------------- -------------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
PROPERTY, PLANT AND EQUIPMENT
Utility plant and equipment $ -- $ 54,316,795 $ -- $ -- $ 490,266(3) $ 54,807,061
Less accumulated depreciation
and amortization -- (24,519,371) -- -- (195,923)(3) (24,715,294)
Nonutility plant and equipment -- -- 3,593,594 -- -- 3,593,594
Less accumulated depreciation
and amortization -- -- (2,600,899) -- -- (2,600,899)
------------------------------------------------------------------------------ ------------
-- 29,797,424 992,695 -- 294,343 31,084,462
------------------------------------------------------------------------------ ------------
CURRENT ASSETS
Cash and cash equivalents 227,205 2,172,034 272,829 1,099 -- 2,673,167
Accounts receivable less
allowance of $116,566 28,482 6,024,076 -- -- (20,651)(1) 6,031,907
Unbilled revenues -- 1,993,509 -- -- -- 1,993,509
Notes receivable affiliates 852,304 -- -- -- -- 852,304
Deferred gas costs -- -- -- -- -- --
Materials and supplies -- 612,882 -- -- -- 612,882
Gas in storage -- 6,559,257 -- -- -- 6,559,257
Prepayments and other -- 1,457,260 8,316 -- -- 1,465,576
------------------------------------------------------------------------------ ------------
1,107,991 18,819,018 281,145 1,099 (20,651) 20,188,602
------------------------------------------------------------------------------ ------------
OTHER ASSETS
Investments 7,000,000 -- -- -- -- 7,000,000
Investment in Ohio Northwest
Dev. -- 66,000 -- -- (66,000)(2) --
Investment in Ohio Gas
Company 32,746,226 -- -- -- (32,746,226)(2) --
Investment in Int'l
Hydrocarbons 2,864 -- -- -- (2,864)(2) --
Regulatory asset -- 450,388 -- -- -- 450,388
Notes receivable and other 8,439,637 (125) -- -- -- 8,439,512
------------------------------------------------------------------------------ ------------
48,188,727 516,263 -- -- (32,815,090) 15,889,900
------------------------------------------------------------------------------ ------------
$49,296,718 $ 49,132,705 $ 1,273,840 $ 1,099 $ (32,541,398) $ 67,162,964
============================================================================== ============
</TABLE>
<PAGE> 7
Attachment 2
NWO RESOURCES, INC.
CONSOLIDATING BALANCE SHEET
December 31, 1996
<TABLE>
<CAPTION>
NWO Ohio Northwest
LIABILITIES AND Resources Ohio Gas Development, International Consolidating
STOCKHOLDERS' EQUITY Inc. Company Inc. Hydrocarbon entries Consolidated
-------------------------------------------------------------------------------- ------------
<S> <C> <C> <C> <C> <C> <C>
STOCKHOLDERS' EQUITY
Preferred stock $23,000,000 $ - $ - $ - $ - $23,000,000
Common Stock 56,000 12,354,750 66,000 5,102,000 (17,522,750)(2) 56,000
Additional paid-in capital 645,000 - - 325,000 (325,000)(2) 645,000
Retained earnings (deficit) 17,965,257 19,230,108 867,025 (5,424,136) 5,424,136 (2) 17,965,257
(20,391,476)(2)
490,266 (3)
(195,923)(3)
------------------------------------------------------------------------------------------------
41,666,257 31,584,858 933,025 2,864 (32,520,747) 41,666,257
------------------------------------------------------------------------------------------------
LONG-TERM DEBT 7,390,000 - - - - 7,390,000
CURRENT LIABILITIES
Short-term borrowings - 2,000,000 - - - 2,000,000
Accounts payable 106,678 6,055,837 10,581 - (20,651)(1) 6,152,445
Accrued taxes (147) 3,569,884 119,459 (1,765) (1) 3,687,431
Rate refunds to customers - - - - - -
Advance recovery of gas costs - 599,353 - - - 599,353
Other current liabilities 33,345 1,098,776 17,148 - - 1,149,269
------------------------------------------------------------------------------------------------
139,876 13,323,850 147,188 (1,765) (20,651) 13,588,498
------------------------------------------------------------------------------------------------
DEFERRED CREDITS
AND OTHER LIABILITIES
Federal income taxes 100,585 1,578,788 193,627 - - 1,873,000
Investment tax credits - 684,777 - - - 684,777
Regulatory obligations - 1,157,892 - - - 1,157,892
Other - 802,540 - - - 802,540
------------------------------------------------------------------------------------------------
100,585 4,223,997 193,627 - - 4,518,209
------------------------------------------------------------------------------------------------
$49,296,718 $49,132,705 $ 1,273,840 $ 1,099 $(32,541,398) $67,162,964
================================================================================================
</TABLE>
Consolidating and eliminating entries
(1) To eliminate intercompany taxes, interest, management fees and loans
(2) To eliminate intercompany equity and investments in subsidiaries
(3) To amortize excess of purchase price over net assets of Ohio Gas Company
<PAGE> 8
Attachment 2
NWO RESOURCES, INC.
CONSOLIDATING STATEMENT OF OPERATIONS
For the Twelve Months Ended December 31, 1996
<TABLE>
<CAPTION>
NWO Ohio Northwest
Resources Ohio Gas Development, International Consolidating
Inc. Company Inc. Hydrocarbon entries Consolidated
-------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <S>
OPERATING REVENUES $ - $39,806,654 $1,670,000 $ - $ - $41,476,654
OPERATING EXPENSES
Cost of gas - 20,945,890 - - - 20,945,890
Utility operations - 5,356,860 542,147 - (60,000(1) 5,839,007
Maintenance - 686,561 71,467 - - 758,028
Depreciation and
amortization 3,192 1,698,828 80,044 - 16,342(3) 1,798,406
General and administrative 2,133,829 - - - - 2,133,829
Other taxes 30,871 3,881,691 61,249 - - 3,973,811
Current Federal tax
(benefit) (458,451) 2,550,938 346,278 (1,765) - 2,437,000
Deferred Federal tax (5,885) (62,459) 17,344 - - (51,000)
---------- ---------- ---------- ----------- ----------- -----------
1,703,556 35,058,309 1,118,529 (1,765) (43,658) 37,834,971
---------- ---------- ---------- ----------- ----------- -----------
Operating income (loss) (1,703,556) 4,748,345 551,471 1,765 43,658 3,641,683
OTHER INCOME (EXPENSES)
Income of subsidiaries 5,003,129 - - - (5,003,129)(2) -
Interest income 768,116 107,735 - 78 - 875,929
Interest expense (528,347) (57,326) (2,889) (5,269) - (593,831)
Other 757,730 488,156 7,275 (319,870) (560,000)(1) 373,291
---------- ---------- ---------- ----------- ----------- -----------
6,000,628 538,565 4,386 (325,061) (5,563,129) 655,389
---------- ---------- ---------- ----------- ----------- -----------
NET INCOME (LOSS) $4,297,072 $5,286,910 $ 555,857 $ (323,296) $(5,519,471) $ 4,297,072
========== ========== ========== ========== =========== ===========
</TABLE>
Consolidating and eliminating entries
(1) To eliminate intercompany taxes, interest, management fees and loans
(2) To eliminate intercompany equity and investments in subsidiaries
(3) To amortize excess of purchase price over net assets of Ohio Gas Company
<PAGE> 9
Attachment 3
OCEANIC EXPLORATION COMPANY
Consolidating Balance Sheet
December 31, 1996
<TABLE>
<CAPTION>
Oceanic Oceanic Oceanic
Exploration Atlantic Internat'l
Company Resources Properties Eliminations Consolidated
----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Assets:
Cash and cash equivalents $ 91,991 $ -- $ 204,481 $ -- $ 296,472
Receivables 7,658 -- 7,259 -- 14,917
Prepaid Expenses -- -- 1,875 -- 1,875
----------------------------------------------------------------------------
99,649 -- 213,615 -- 313,264
----------------------------------------------------------------------------
Oil and gas property interests,
full cost method:
Greece 39,000,000 -- -- -- 39,000,000
Accumulated depletion (38,168,021) -- -- -- (38,168,021)
----------------------------------------------------------------------------
831,979 -- -- -- 831,979
----------------------------------------------------------------------------
Other assets:
Investment in subsidiaries 14,304 -- -- (14,304) --
Intercompany receivable 2,335,389 -- -- (2,335,389) --
----------------------------------------------------------------------------
2,349,693 -- -- (2,349,693) --
---------------------------------------------------------------------------
$3,281,321 $ -- $ 213,615 $(2,349,693) $1,145,243
============================================================================
Liabilities and Stockholders Equity:
Notes Payable - affiliates $ -- $ -- $3,315,540 $(2,335,389) $ 980,151
Accounts payable 2,020 2,927 157,042 -- 161,989
Accounts payable - affiliates -- -- 60,000 -- 60,000
Accrued interest -- 223,222 225 -- 223,447
United Kingdom taxes payable -- 247,857 -- -- 247,857
Other accrued expenses -- -- 122,234 -- 122,234
----------------------------------------------------------------------------
2,020 474,006 3,655,041 (2,335,389) 1,795,678
----------------------------------------------------------------------------
Intercompany payable, net (977,980) (683,534) 1,661,404 -- --
Deferred Income taxes 607,939 -- -- -- 607,939
----------------------------------------------------------------------------
(369,931) (683,534) 1,661,404 -- 607,939
Stockholders Equity: ---------------------------------------------------------------------------
Common stock 619,559 100 100 -- 619,759
Capital in excess of par value 155,696 -- -- -- 155,696
Retained earnings (deficit) 2,873,977 209,428 (5,102,930) (14,304) (2,033,829)
----------------------------------------------------------------------------
3,649,232 209,528 (5,102,830) (14,304) (1,258,374)
----------------------------------------------------------------------------
$3,281,321 $ -- $ 213,615 $(2,349,693) $1,145,243
============================================================================
</TABLE>
<PAGE> 10
Attachment 3
<TABLE>
<CAPTION>
OCEANIC EXPLORATION COMPANY
Consolidating Income Statement
For the Twelve Months Ended December 31, 1996
Oceanic Oceanic Oceanic
Exploration Atlantic Internat'l
Company Resources Properties Eliminations Consolidated
----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Revenues:
Oil and gas sales - Greece $ 854,930 $ -- $ -- $ -- $ 854,930
Interest income and other 12,633 23,718 302,456 -- 338,807
----------------------------------------------------------------------------
867,563 23,718 302,456 -- 1,193,737
----------------------------------------------------------------------------
Costs and expenses:
Interest and financing costs -- 36,630 104,930 -- 141,560
Exploration expenses 11,915 -- (6,418) -- 5,497
Depletion, depreciation,
and amortization 332,608 -- -- -- 332,608
General and administrative 150,934 49,030 511,998 -- 711,962
----------------------------------------------------------------------------
495,457 85,660 610,510 -- 1,191,627
----------------------------------------------------------------------------
Income before income taxes 372,106 (61,942) (308,054) -- 2,110
Provision for income taxes (230,816) -- -- -- (230,816)
----------------------------------------------------------------------------
Net income (loss) $ 141,290 $ (61,942) $ (308,054) $ -- $ (228,706)
============================================================================
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 67,162,964
<TOTAL-OPERATING-REVENUES> 41,476,654
<NET-INCOME> 4,297,072
</TABLE>
