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.
October 29, 1999
Date of Report (Date of earliest event reported)
BONNEVILLE PACIFIC CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 0-14846 87-0363215
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State of Incorporation Commission File No. IRS Employer
Identification No.
50 West 300 South, Suite 300
Salt Lake City, UT 84101
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(Address of principal executive offices)
(801) 261-5100
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(Registrant's telephone number)
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Item 2. Acquisition or Disposition of Assets
On October 29, 1999, Bonneville Pacific Corporation (the "Company")
completed the sale of its wholly-owned subsidiary, Bonneville Fuels Corporation
("BFC"), to Carbon Energy Corporation ("CEC"), an affiliate of CEC Resources
Corporation. Prior to the sale, the Company conducted all of its oil and gas
operations through BFC. The Company no longer conducts oil or gas operations.
The sale of BFC to CEC was completed pursuant to the terms and conditions of
that certain Stock Purchase Agreement dated August 11, 1999, entered into by and
between the Company and CEC Resources Corporation. The adjusted purchase price
paid by CEC to the Company for all of the shares of BFC was approximately
$23,581,000, which was paid in cash. The purchase price was determined through
negotiation between the Company and CEC Resources Corporation. As a result of
the sale, CEC now owns all of the shares of BFC.
Item 7. Financial Statements and Exhibits
(a) Financial Statements. No financial statements are required to be filed
in connection with the sale reported on in this Form 8-K.
(b) Exhibits. The Stock Purchase Agreement dated August 11, 1999 executed
by the Company and CEC Resources Corporation for the sale and purchase of all of
the shares of BFC, was attached to a Form 8-K filed by the Company on August 20,
1999 and is incorporated herein by this reference to such Form 8-K. The Company
agrees to furnish the schedules and exhibits to the Stock Purchase Agreement
supplementally to the Commission upon request.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated: November 4, 1999 BONNEVILLE PACIFIC CORPORATION
By /s/ Clark M. Mower
Clark M. Mower, President
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