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): June 25, 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 today reported placing two new wells
on production in Lea County, New Mexico. The Mallon 33 Federal No. 1,
located in the southeast quarter of Section 33 T19S-R34E, is currently
flowing 359 barrels of oil per day from the Bone Springs Formation at
9,968 feet. This well was drilled to the Bone Springs at a total
depth of 10,300 feet. Mallon owns a 61.75% working interest and is
the operator.
The Mallon Mescalero Ridge 30 No. 4, located in the northeast
quarter of Section 30 T19S-R34E, is flowing 765 Mcf of natural gas per
day and 56 barrels per day of condensate from the Morrow Formation at
13,227 feet. Mallon owns a 49.99% working interest and is the
operator.
Kevin Fitzgerald, President of Mallon Oil Company, commented,
"These are the first wells drilled in Quail Ridge since we kicked off
our current development program. In addition to the current pay
zones, both wells found significant Delaware Cherry Canyon and Brushy
Canyon pay zones. The Mescalero 30-4 well also has new Bone Springs
and Strawn pays. These wells are a prime example of our inexpensive
low-risk exploration philosophy. We drill the deeper zone as a
development well; but by careful analysis of data, we have a discovery
well in the shallower Delaware zones. This creates a new field for
additional development. We are now formulating a plan for the
drilling of these new uphole zones."
George Mallon, Chairman, stated, "The 33-1 well lies
approximately one-half mile west of Mallon's N.E. Lea Delaware Field
and the Mescalero 30-4 well is three miles northwest of the 33-1.
These wells alone have created new drilling locations that exceed the
Company's entire drilling program over the last 12 months. The drill
site inventory, an indication of our growth potential, is now at its
highest level in the Company's history."
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". The Company also owns a controlling 14
million shares of the common stock of Laguna Gold Company. Laguna
common shares are traded on The Toronto Stock Exchange under the
symbol "LGC".
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
June 27, 1997 __/s/ Roy K. Ross________________
Roy K. Ross, Executive Vice President
