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) December 18, 1998.
THE RESERVE PETROLEUM COMPANY
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-8157 73-0238060
(Commission File Number) (IRS Employer Identification No.)
6801 North Broadway, Suite 300, Oklahoma City, Oklahoma 73116-9092
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (405) 848-7551
<PAGE>
Item 5. Other Events.
------------
In August 1993, the Company filed an action in the District Court of Leon
County, Texas to quiet title to its 13/32nd interest in approximately 203
mineral acres associated with two producing oil and gas wells completed in 1988.
On October 29, 1998, the Supreme Court of the State of Texas denied the petition
for review filed by the defendants who had appealed the judgment rendered in
favor of the Company
Proceeds from oil and gas sales of $854,042 held in suspense by the unit
operator plus interest thereon of $234,811 were released to the Company on
December 18, 1998 and recorded as revenue at that time. For the year ending
December 31, 1998, these receipts will increase the Company's net income after
the related provision for income taxes by approximately $589,000 or $3.50 per
common share outstanding.
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 thereunto duly authorized.
THE RESERVE PETROLEUM COMPANY
Date: December 22, 1998 /s/ Jerry L. Crow
--------------------- ----------------------
JERRY L. CROW
Principal Financial and Accounting
Officer
