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) November 24, 1997
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)
Item 5. Other Events
Mallon Resources Corporation (the "Company") issued the following
press release, dated June 25, 1997, the text of which follows:
Mallon Resources Corporation Mallon Resources Corporation
(Nasdaq: "MLRC") reported today that as of September 30, 1997,
the Company's estimated proved oil and gas reserves had increased
40% to 9,033 MBOE from the 6,439 MBOE reported at year end 1996.
The Company attributed the increase to the results of its
development drilling and recompletion work, and noted that it had
not purchased any reserves during the period. The Company's
September 30, 1997 reserve report was prepared by Ryder Scott
Company Petroleum Engineers.
The Company also reported that its San Juan Basin Gas Project
in northwest New Mexico is producing approximately 9.5 million
cubic feet of gas per day from a total of eight wells. Four Gas
Project wells are currently shut-in due to gas sweetening plant
capacity limitations. The Company estimates that these 12 wells,
together, are capable of producing in excess of 13.5 million cubic
feet of gas per day. The Company is in the process of increasing
the processing capacity of the gas sweetening plant to 24 million
cubic feet per day. That work is scheduled to be completed in
March 1998.
Mallon plans to drill two new Project wells by year end, and
drill or recomplete an additional 37 Project wells during 1998.
The Company has identified in excess of 80 prospective drilling or
recompletion locations on Project acreage. Mallon owns in excess
of a 90% working interest in the San Juan Basin Gas Project.
Mallon Resources Corporation is a Denver, Colorado, based oil and
gas exploration and production company operating primarily in the
San Juan and Delaware Basins of New Mexico. Mallon's Common Stock
is quoted on the Nasdaq National Market tier of the Nasdaq Stock
Market under the symbol "MLRC."
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
December 2, 1997 ___/s/ Roy K. Ross_______________
Roy K. Ross, Executive Vice President
