SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of The Securities
Act of 1934
Date of Report (date of earliest event reported): September 24,
1996
Mallon Resources Corporation
(exact name of registrant as specified in its charter)
Colorado 0-17267 84-1095959
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
999 18th Street, Suite 1700, Denver, Colorado 80202
(address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (303)293-2333
not applicable
(former name or former address, if changed since last report)
-1-
Item 5. Other Events
Mallon Resources Corporation (the "Company") issued a press
release, dated September 24, 1996, the text of which was as
follows:
Mallon Oil Company, a unit of Mallon Resources Corporation
(Nasdaq: "MLRC"), reported that its Mallon '34' Federal No. 15
well in Northeast Lea Field in Lea County, New Mexico, was
completed as an oil well in a new Brushy Canyon zone of the
Delaware Formation. The well's initial daily production rate was
145 barrels of oil, 66 mcf of gas, and 142 barrels of water.
After three weeks of production, the well's daily production rate
is approximately 90 barrels of oil, 45 mcf of gas, and 325
barrels of water. This is the first well of 13 drilled by Mallon
on its acreage block to be completed in the lower Brushy Canyon
zone, which lies at a depth of approximately 8,100 feet.
Mallon's other wells in the area produce from Cherry Canyon
and/or middle Brushy Canyon zones.
The No. 15's primary drilling targets were a series of Cherry
Canyon and Brushy Canyon zones at depths between 5,700 feet and
6,800 feet. Electric logs and other diagnostic tools suggest
these up-hole targets will also be productive in the well.
Mallon intends to complete these zones and combine their
production with the Brushy Canyon production in the near future.
Mallon operates the well, with a 84% working interest.
Mallon's oil and gas operations, located primarily in the western
United States, are conducted by its wholly-owned subsidiary,
Mallon Oil Company. Mallon also owns approximately 14 million
shares of the common stock of Laguna Gold Company, a company
engaged in the exploration for and development of precious metals
in Costa Rica. Laguna common shares are traded on The Toronto
Stock Exchange under the symbol "LGC." Mallon is headquartered
in Denver, Colorado. Mallon's Common Stock is quoted on the
Nasdaq National Market under the symbol "MLRC", or "MLRCD".
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 hereunto duly authorized.
Mallon Resources Corporation
September 27, 1996 __/s/ Roy Ross____________________
Roy K. Ross, Executive Vice President
