<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, Jewell,
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 1,270
miles of mains (on a 3-inch main equivalent basis) serving, as of
December 31, 1999, approximately 42,950 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 2,484,033 Mcf of natural gas in
Ohio during the last calendar year, with revenue of approximately
$15,099,309 related to these sales. In addition, 7,281,135 Mcf of
gas was transported in Ohio for industrial, commercial and
residential customers. Revenue recorded related to gas transported
during the year totaled approximately $10,888,373.
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 49.97% owned investee of International
Hydrocarbons) and its subsidiaries - (Attachment 3)
Exhibit B
---------
Total Assets 62,048,509
Total Operating Revenue 27,205,955
Net Income 1,165,908
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 25th day of February, 2000.
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
21 East State Street, Suite 1700 West
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
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
% 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
<TABLE>
NWO RESOURCES, INC.
CONSOLIDATING BALANCE SHEET
December 31, 1999
<CAPTION>
(4)
NWO Ohio Northwest
Resources Ohio Gas Development, International Consolidating
ASSETS Inc. Company Inc. Hydrocarbon entries Consolidated
-------------------------------------------------------------------------- ------------
<S> <C> <C> <C> <C> <C> <C>
PROPERTY, PLANT AND EQUIPMENT
Gas utility plant and equipment $ -- $ 60,183,601 $ -- $ -- $ 490,266 (3) $ 60,673,867
Less accumulated depreciation
and amortization -- (29,431,620) -- -- (244,950)(3) (29,676,570)
Non-utility plant and equipment -- -- -- -- -- --
Less accumulated depreciation
and amortization -- -- -- -- -- --
------------------------------------------------------------------------- -------------
-- 30,751,981 -- -- 245,316 30,997,297
------------------------------------------------------------------------- -------------
CURRENT ASSETS
Cash and investments 215,487 1,696,928 -- 12,870 -- 1,925,285
Accounts receivable less
allowance of $ 168,659 395,839 5,049,788 -- 171,838 (154,110) 5,463,355
Unbilled revenues -- 2,042,642 -- -- -- 2,042,642
Notes receivable affiliates 1,660,000 -- -- -- (700,000)(2) 960,000
Deferred gas costs -- 2,194,889 -- -- -- 2,194,889
Materials and supplies -- 531,272 -- -- -- 531,272
Gas in storage -- 6,690,230 -- -- -- 6,690,230
Prepaid gross receipts taxes -- 878,478 -- -- -- 878,478
Prepayments and other -- 1,295,518 -- -- -- 1,295,518
------------------------------------------------------------------------- -------------
2,271,326 20,379,745 -- 184,708 (854,110) 21,981,669
------------------------------------------------------------------------- -------------
OTHER ASSETS
Investments -- -- -- -- -- --
Investment in Ohio Gas Company 41,097,572 -- -- -- (41,097,572)(2) --
Investment in Int'l Hydrocarbons -- 8,498,604 -- -- (8,498,604)(2) --
Regulatory asset -- 410,437 -- -- -- 410,437
Notes receivable -- -- -- 8,605,000 -- 8,605,000
Other 32,866 21,240 -- -- -- 54,106
--
------------------------------------------------------------------------- -------------
41,130,438 8,930,281 -- 8,605,000 (49,596,176) 9,069,543
------------------------------------------------------------------------- -------------
$43,401,764 $ 60,062,007 $ -- $8,789,708 $(50,204,970) $ 62,048,509
========================================================================= =============
</TABLE>
<PAGE> 7
Attachment 2
<TABLE>
NWO RESOURCES, INC.
CONSOLIDATING BALANCE SHEET
December 31, 1999
<CAPTION>
(4)
NWO Ohio Northwest
CAPITALIZATION Resources Ohio Gas Development, International Consolidating
AND LIABILITIES Inc. Company Inc. Hydrocarbon entries Consolidated
-------------------------------------------------------------------------- ------------
<S> <C> <C> <C> <C> <C> <C>
CAPITALIZATION
Preferred stock $23,000,000 $ -- $ -- $ -- $ -- $23,000,000
Common Stock 34,001 12,354,750 -- 5,102,000 (17,456,750)(2) 34,001
Contributed Capital -- 8,498,604 -- 8,766,418 (17,265,022)(2) --
Additional paid-in capital -- -- -- 325,000 (325,000)(2) --
Retained earnings (deficit) 7,617,906 19,998,902 -- (5,694,814) 5,694,814 (2) 7,617,906
(20,244,218)(2)
490,266 (3)
(244,950)(3)
-------------------------------------------------------------------------- -----------
30,651,907 40,852,256 -- 8,498,604 (49,350,860) 30,651,907
-------------------------------------------------------------------------- -----------
LONG-TERM DEBT 12,430,245 -- -- -- -- 12,430,245
CURRENT LIABILITIES
Accounts payable 228,134 5,353,396 -- -- (154,110) 5,427,420
Line of credit -- 3,700,000 -- -- -- 3,700,000
Accrued taxes 3,515,506 -- -- -- 3,515,506
Rate refunds due customers -- -- -- -- -- --
Advance recovery of gas costs -- -- -- -- -- --
Other current liabilities 60,770 1,415,685 -- -- -- 1,476,455
-------------------------------------------------------------------------- -----------
288,904 13,984,587 -- -- (154,110) 14,119,381
-------------------------------------------------------------------------- -----------
DEFERRED CREDITS
AND OTHER LIABILITIES
Federal income taxes 30,708 2,154,196 -- (408,896) -- 1,776,008
Investment tax credits -- 533,380 -- -- -- 533,380
Regulatory obligations -- 1,302,584 -- -- -- 1,302,584
Customer advances for construction 856,291 856,291
Other -- 378,713 -- 700,000 (700,000)(2) 378,713
-------------------------------------------------------------------------- -----------
30,708 5,225,164 -- 291,104 (700,000) 4,846,976
-------------------------------------------------------------------------- -----------
$43,401,764 $60,062,007 $ -- $ 8,789,708 $(50,204,970) $62,048,509
========================================================================== ===========
</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
(4) Effective June 30,1999 Ohio Gas Company and NWO Resources Inc. made a
distribution of all of the stock of Ohio Northwest Development Inc.
pursuant to Section 355 of the Internal Revenue Code.
<PAGE> 8
Attachment 2
<TABLE>
NWO RESOURCES, INC.
CONSOLIDATING STATEMENT OF OPERATIONS
For the Twelve Months Ended December 31, 1999
<CAPTION>
(4)
NWO Ohio Northwest
Resources Ohio Gas Development International Consolidating
Inc. Company Inc. Hydrocarbon entries Consolidated
-------------------------------------------------------------------------- ------------
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES $ -- $26,219,367 $986,588 $ -- $ -- $27,205,955
OPERATING EXPENSES
Cost of gas -- 9,089,926 -- -- -- 9,089,926
Utility operations -- 5,339,419 189,391 -- (60,000)(1) 5,468,810
Maintenance -- 651,793 47,709 -- -- 699,502
Depreciation and amortization 8,647 1,921,119 36,710 -- 16,342 (3) 1,982,818
General and administrative 1,543,168 -- -- -- -- 1,543,168
Other taxes (42,400) 3,589,089 35,505 -- -- 3,582,194
Current Federal tax (benefit) (673,708) 2,027,201 233,889 229,460 -- 1,816,842
Deferred Federal tax (benefit) 1,731,799 (150,573) 7,244 (74,800) -- 1,513,670
-------------------------------------------------------------------------- ------------
2,567,506 22,467,974 550,448 154,660 (43,658) 25,696,930
-------------------------------------------------------------------------- ------------
Operating income (loss) (2,567,506) 3,751,393 436,140 (154,660) 43,658 1,509,025
OTHER INCOME (DEDUCTIONS)
Income of subsidiaries 4,289,012 -- -- -- (4,289,012)(2) --
Interest income 94,037 -- -- 715,394 (40,488)(2) 768,943
Interest expense (554,635) (269,829) -- (40,488) 40,488 (2) (824,464)
Other (95,000) 523,493 9,357 (220,025) (505,421)(1) (287,596)
-------------------------------------------------------------------------- ------------
3,733,414 253,664 9,357 454,881 (4,794,433) (343,117)
-------------------------------------------------------------------------- ------------
NET INCOME (LOSS) $ 1,165,908 $ 4,005,057 $445,497 $ 300,221 $(4,750,775) $ 1,165,908
========================================================================== ============
</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
(4) Effective June 30,1999 Ohio Gas Company and NWO Resources Inc. made a
distribution of all of the stock of Ohio Northwest Development Inc.
pursuant to Section 355 of the Internal Revenue Code.
<PAGE> 9
Attachment 3
<TABLE>
OCEANIC EXPLORATION COMPANY
Consolidating Balance Sheet
December 31, 1999
<CAPTION>
Oceanic Oceanic Oceanic
Exploration Atlantic Internat'l
Company Resources Properties Elimination's Consolidated
-----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Assets:
Cash and cash equivalents $ 12,227 $ -- $ 54,235 $ -- $ 66,462
Receivables 20,706 -- 17,758 (28,022) 10,442
Prepaid Expenses -- -- 2,205 -- 2,205
------------ --------- ----------- ----------- ------------
32,933 -- 74,198 (28,022) 79,109
------------ --------- ----------- ----------- ------------
Oil and gas property interests,
full cost method:
Greece 39,000,000 -- -- -- 39,000,000
Accumulated depletion (39,000,000) -- -- -- (39,000,000)
------------ --------- ----------- ----------- ------------
-- -- -- -- --
------------ --------- ----------- ----------- ------------
Other assets:
Investment in subsidiaries 14,304 -- -- (14,304) --
Intercompany receivable 2,809,389 -- -- (2,809,389) --
Other -- -- 1,440 -- 1,440
------------ --------- ----------- ----------- ------------
2,823,693 -- 1,440 (2,823,693) 1,440
------------ --------- ----------- ----------- ------------
$ 2,856,626 $ -- $ 75,638 $(2,851,715) $ 80,549
============ ========= =========== =========== ============
Liabilities and Stockholders Equity:
Notes Payable - affiliates $ -- $ -- $ 4,167,025 $(2,809,389) $ 1,357,636
Accounts payable -- 3,094 165,861 (7,316) 161,639
Accounts payable - affiliates -- -- 80,706 (20,706) 60,000
Accrued interest -- 233,784 171,838 -- 405,622
United Kingdom taxes payable -- 273,460 -- -- 273,460
Other accrued expenses -- -- 127,581 -- 127,581
------------ --------- ----------- ----------- ------------
-- 510,338 4,713,011 (2,837,411) 2,385,938
------------ --------- ----------- ----------- ------------
Intercompany payable, net (977,870) (683,534) 1,661,404 -- --
Deferred Income taxes 22,020 -- -- -- 22,020
------------ --------- ----------- ----------- ------------
(955,850) (683,534) 1,661,404 -- 22,020
------------ --------- ----------- ----------- ------------
Stockholders Equity:
Common stock 619,559 100 100 -- 619,759
Capital in excess of par value 155,696 -- -- -- 155,696
Retained earnings (deficit) 3,037,221 173,096 (6,298,877) (14,304) (3,102,864)
------------ --------- ----------- ----------- ------------
3,812,476 173,196 (6,298,777) (14,304) (2,327,409)
------------ --------- ----------- ----------- ------------
$ 2,856,626 $ -- $ 75,638 $(2,851,715) $ 80,549
============ ========= =========== =========== ============
</TABLE>
<PAGE> 10
Attachment 3
<TABLE>
OCEANIC EXPLORATION COMPANY
Consolidating Income Statement
For the Twelve Months Ended December 31, 1999
<CAPTION>
Oceanic Oceanic Oceanic
Exploration Atlantic Internat'l
Company Resources Properties Elimination's Consolidated
---------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Revenues:
Oil and gas sales- Greece $ -- $ -- $ -- $ -- --
Interest income and other 23,494 14,005 554,138 (23,206) 568,431
--------------------------------------------------------------------
23,494 14,005 554,138 (23,206) 568,431
--------------------------------------------------------------------
Costs and expenses:
Interest and financing costs -- 20,563 99,494 -- 120,057
Exploration expenses 1,168 -- 12,853 -- 14,021
Depletion, depreciation,
and amortization 47,500 -- -- -- 47,500
General and administrative 38,331 1,066 894,385 (23,206) 910,576
--------------------------------------------------------------------
86,999 21,629 1,006,732 (23,206) 1,092,154
--------------------------------------------------------------------
Income before income taxes (63,505) (7,624) (452,594) -- (523,723)
Provision for income taxes 23,713 -- -- -- 23,713
--------------------------------------------------------------------
Net income (loss) $(39,792) $(7,624) $ (452,594) $ -- $ (500,010)
====================================================================
</TABLE>
