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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) October 13, 1998
(October 13, 1998)
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.)
10375 Richmond Ave, Ste 900, Houston, Texas 77042
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (713) 954-4600
_____________________________________________________________________
(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
The Registrant issued the following press release on October 13, 1998:
Hondo Oil & Gas Company today announced that it has entered into an
Agreement and Plan of Merger with Lonrho Plc, Hondo's majority
stockholder. Pursuant to the Agreement, a newly formed subsidiary of
Lonrho will merge with and into Hondo. If the merger is consummated,
each share of Hondo common stock, other than shares held by Lonrho or
its subsidiaries, will be converted into a right to receive five cents
per share. The merger is subject to approval by the stockholders of
Hondo. Lonrho has agreed to vote the shares it and its subsidiaries
hold in the manner voted by a majority of other stockholders of the
company voting at a Special Meeting of Stockholders to be called by
Hondo. The company expects the Special Meeting of Stockholders to occur
in December, but cannot set a date until its preliminary proxy materials
become definitive.
HONDO OIL & GAS COMPANY
Date: October 13, 1998 By: /s/ Stanton J. Urquhart
______________________________
Stanton J. Urquhart
Vice President
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