U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
COMMISSION FILE NUMBER
0-15905
(Check one)
[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q and
Form 10-QSB [ ] Form N-SAR
For Period Ended: June 30, 2000
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: _________________________________________
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.
If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates:
PART 1.
REGISTRANT INFORMATION
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Full Name of Registrant:
BLUE DOLPHIN ENERGY COMPANY
Former Name if Applicable:
NOT APPLICABLE
Address of Principal Executive Office (Street and Number):
801 TRAVIS, SUITE 2100
City, State and Zip Code
HOUSTON, TEXAS 77002
PART II.
RULES 12B-25 (B) AND (C)
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)
(a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, Form 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.
<PAGE>
PART III.
NARRATIVE
State below in reasonable detail why Form 10-K, and Form 10-KSB, 20-F, 11-K,
10-Q and Form 10-QSB, N-SAR, or the transition report portion thereof could not
be filed within the prescribed period.
Th Registrant is currently responding to comments on its periodic reports from
the Division of Corporation Finance at the Securities and Exchange Commission.
Certain of these comments will effect the disclosure in the Registrant's Form
10-Q for the quarter ended June 30, 2000 (the "Form 10-Q"). The Registrant is in
the process of assembling the requisite information (i) to respond to the
staff's comments, and (ii) necessary to prepare and timely file the Form 10-Q.
Furthermore, the Registrant's implementation of the requirements associated with
the new audit committee rules has also contributed to its inability to prepare,
and timely file, the Form 10-Q. For the foregoing reasons the Registrant could
not timely file the Form 10-Q without unreasonable effort and expense.
PART IV.
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
G. BRIAN LLOYD (713) 227-7660
[NAME] [AREA CODE] [NUMBER]
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities 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?
[X] Yes [ ] No
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.
BLUE DOLPHIN ENERY COMPANY
(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: August 14, 2000 By: /s/ G. BRIAN LLOYD
<PAGE>
The Company reported net income for the six months ended June 30, 2000, of
$203,534, compared to net income of $517,887 reported for the six months ended
June 30, 1999. The decrease is primarily due to the gain on sale of a one-sixth
interest in the Blue Dolphin Pipeline system of $2,068,986 that took place
during the first quarter of 1999.
For the quarter ended June 30, 2000 the Company reported net income of $149,698
compared to a net loss of $406,946 for the quarter ended June 30, 1999. The
increase is due to higher pipeline transportation revenues and oil and gas sales
in the current quarter.
