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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
SEC File No: 1-7573
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(Check One):
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[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [X] Form 11-K
[ ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1999
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[X] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: December 31, 1998
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Read Attached Instruction Sheet Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
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PART I REGISTRANT INFORMATION
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Full Name of Registrant: Parker Drilling Company
Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
Parker Building, Eight East Third Street, Tulsa, Oklahoma 74103
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PART II - RULES 12b-25(b) AND (c)
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If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate.)
[X] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or expense;
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[X] (b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof will be filed on
or before the fifteenth calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following the prescribed due
date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III - NARRATIVE
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State below in reasonable detail the reasons why Form 10-K and Form 10-KSB, 20-
F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
SEE NARRATIVE ATTACHED
(Attach Extra Sheets if Needed)
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PART IV - OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification
(Name) (Area Code) (Telephone Number)
W. Kirk Brassfield (918) 631-1276
(2) Have all other periodic reports required under Section 13 or 15(d)
of the Securities and Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter period
that the registrant was required to file such report(s) been filed? If the
answer is no, identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or
portion thereof?
The Statement of changes in net assets available for benefits reflected a
net decrease of approximately $8 million for the year ended August 31, 1998 as
compared to a net increase of approximately $13 million for the year ended
December 31, 1999.
[X] Yes [ ] No
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If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
(Name of Registrant as specified in charter)
Parker Drilling Company
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: June 29, 2000 By: /s/ W. Kirk Brassfield
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Name: W. Kirk Brassfield
Title: Corporate Controller
INSTRUCTION: The form may be signed by an executive officer of the registrant
or by any other duly authorized representative. The name and title of the
person signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
Narrative:
The Registrant is unable to timely file its Annual Report and Transition
Report on Form 11-K with respect to its Stock Bonus Plan because (i) certain
corrected information, essential to completion of the Plan audit, was not
provided by the Plan administrator on a timely basis, and (ii) a change in
fiscal year required the auditing of both a four-month transition period and a
full year, thereby lengthening the time required for completion of the audits.
The Report will be filed promptly upon completion of the audits and in no event
later than July 13, 2000.
