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): August 28, 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 August 28, 1997, the text of which follows:
Mallon Resources Corporation today reported that it has
successfully placed on production two significant natural gas wells on
its San Juan Basin acreage block. The two wells, the Jicarilla 459 #3
and the Jicarilla 459 #8, are producing from natural completions in
the Ojo Alamo formation at approximately 3,150 feet. Mallon has a 90%
working interest in these wells, which are producing at a combined
rate of approximately 1.5 million cubic feet per day. The Company
believes these wells are the first commercially productive Ojo Alamo
wells in the San Juan Basin.
Kevin Fitzgerald, President of Mallon Oil Company, said, "We
recently completed construction of a gas sweetening plant, which
enabled us to finally put these two Ojo Alamo wells on production.
With the plant now in operation and these wells on production, we are
deciding which of our other 24 wells in the East Blanco area should be
recompleted into the Ojo Alamo, and how many new wells we should
drill. We are also studying how to enhance the production rates of
Ojo Alamo wells by the use of hydraulic fracturing and alternative
completion techniques."
George Mallon, Chairman of the Company, said, "We are very
excited by the development potential of this Ojo Alamo play. We
control and operate approximately 21,000 acres in the East Blanco
area, and our January 1997 acquisition of additional interests there
increased our position to an average working interest of approximately
76%. If our analysis of the Ojo Alamo continues to be correct, we see
the opportunity to substantially increase our gas production and
reserves in this area."
Mallon Resources Corporation is a Denver, Colorado, based oil and
gas exploration and production company operating primarily in the
Delaware and San Juan 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
August 28, 1997 __/s/ Roy K. Ross________________
Roy K. Ross, Executive Vice President
