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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) August 28, 1995
(August 24, 1995)
HONDO OIL & GAS COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-8979 95-1998768
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
410 East College Boulevard, Roswell, New Mexico 88201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (505) 625-8700
_____________________________________________________________________
(Former name or former address, if changed since last report)
There are no exhibits to this report.
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Item 5. Other Events
In a press release on August 24, 1995, the registrant announced that its
controlling shareholder, The Hondo Company, has proposed a downstream
merger through which The Hondo Company will be merged into Hondo Oil &
Gas Company. The Hondo Company owns 10,150,200 shares, or approximately
76%, of Hondo Oil & Gas Company, and The Hondo Company is ultimately
owned 50% by Lonrho Plc, and 50% by the Anderson Family. The proposed
merger is subject to approval by the boards of directors of Hondo Oil &
Gas, The Hondo Company and Lonrho Plc, the preparation and execution of
definitive agreements, and certain regulatory consents. The result of
the proposed merger will be that Lonrho Plc and its subsidiaries will
own approximately 64% of the shares of Hondo Oil & Gas, and the Anderson
family will own approximately 12%. The Hondo Company has also advised
the Board of Hondo Oil & Gas that all legal action between the
shareholders of The Hondo Company have been held in abeyance until the
proposed merger is closed, at which time the legal disputes will be
terminated. Hondo Oil & Gas Company has made no agreements concerning
the proposed merger. It is anticipated that no new liabilities will be
incurred by Hondo Oil & Gas Company as a result of the merger. There
can be no assurances that a merger, as proposed, will be concluded.
The Hondo Company has further advised that it will no longer seek a
buyer for its shares in Hondo Oil & Gas.
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 hereunto duly authorized.
HONDO OIL & GAS COMPANY
Date: August 28, 1995 By: /s/ Stanton J. Urquhart
______________________________
Stanton J. Urquhart
Vice President
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