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UNITED STATES
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: June 18, 1996
Commission File Number 1-8241
_________
PRESIDIO OIL COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 95-3049484
(State or other jurisdiction of (I.R.S.Employer
incorporation or organization) Identification No.)
5613 DTC PARKWAY, SUITE 750
ENGLEWOOD, COLORADO 80111-3065
(Address of principal executive offices)
(Zip Code)
(303) 773-0100
(Registrant's telephone number, including area code)
Not Applicable
(Former name, former address and former
fiscal year, if changed since last report)
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Item 5. Other Events
Incorporated herein by reference to the Company's press release
dated June 18, 1996, contained in Exhibit 20.1 to this form.
Item 7. Financial Statements and Exhibits
(c) Exhibits
20.1 The Company's press release dated June 18, 1996,
announcing the interest rate for the period August 15,
1996 to November 14, 1996 on its Senior Subordinated
Gas Indexed Notes Due 1999 and Senior Gas Indexed Notes
Due 2002 to be 13.600%.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
PRESIDIO OIL COMPANY
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Registrant
DATE: June 18, 1996 /s/ Charles E. Brammeier
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Charles E. Brammeier
Controller
(Principal Accounting Officer)
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EXHIBIT INDEX
Exhibit
Number Description of Exhibit
20.1 Press release of the Company dated June 18, 1996.
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EXHIBIT 20.1
PRESIDIO OIL COMPANY
ANNOUNCES
The Interest Rate on Presidio Oil Company's Senior
Subordinated Gas Indexed Notes due 1999 (the "GINs") and the
Senior Gas Indexed Notes due 2002 (the "Senior GINs") will be
13.600% for the period August 15, 1996 to November 14, 1996. The
Gas Index Price for the determination period (the Natural Gas
Clearinghouse, Inc. average spot gas price for the 12 months
ending June 1996) was $1.89. Since this price exceeded the Base
Price of Gas (defined as $1.75 in the Note Indentures) an
Additional Interest Rate of 0.300% (.025% for every $.01 the Gas
Index Price exceeds the Base Price of Gas) will be added to the
base rate of 13.25% for this interest period only. Due to its
financial condition, the Company has not paid interest on its
Senior GINs for any period subsequent to February 14, 1995 and
does not anticipate doing so until it has alleviated its
financial difficulties as discussed in its March 31, 1996 10-Q
filed with the Securities and Exchange Commission.
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