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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
April 15, 1997
(Date of Earliest Event Reported)
EXCEL RESOURCES, INC.
(Exact Name of Registrant as Specified in its Charter)
Nevada 33-26936-D 87-0460769
(State or other Jurisdiction) (Commission File No.) (IRS Employer I.D. No.)
1111 Bagby, Suite 2400
Houston, Texas 77002
(Principal Executive Office Address)
Registrant's Telephone Number, Including Area Code: (713)659-5556
N/A
(Former Name or Former Address, if Changed Since Last Report)
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Item 1. Changes in Control of Registrant.
None; not applicable.
Item 2. Acquisition or Disposition of Assets.
None; not applicable.
Item 3. Bankruptcy or Receivership.
On April 25, 1997, Excel Resources, Inc., a Nevada corporation (the
"Company"), filed its voluntary petition in bankruptcy under Chapter 11 of the
Bankruptcy Code in the U. S. Bankruptcy Court for the Southern District of
Texas. The case is designated Case No. 97-44184-H3-11. The Company will be a
debtor in possession in this proceeding.
Item 4. Changes in Registrant's Certifying Accountant.
None; not applicable.
Item 5. Other Events.
None; not applicable.
Item 6. Resignations of Directors and Executive Officers.
On April 15, 1997, Randall P. Matye resigned from the Company's
Board of Directors because the Company had "taken actions with which [Mr.
Matye is] not in agreement." As of the date of this Report, Mr. Matye has not
clarified the actions to which his letter refers. Mr. Matye's letter did not
request that this disagreement be disclosed. A copy of Mr. Matye's letter is
attached hereto as Exhibit 17 to this Report.
Item 7. Financial Statements and Exhibits.
Financial Statements.
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None; not applicable.
Exhibits.
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Exhibit 17 - Letter regarding resignation of director, dated April
15, 1997.
Item 8. Change in Fiscal Year.
None; not applicable.
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.
EXCEL RESOURCES, INC.
Date: 5-1-97 By /s/ Francis H. Brinkman
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Francis H. Brinkman
[LETTERHEAD OF RANDALL P. MATYE]
April 15, 1997
Francis Brinkman
Board of Directors
Excel Resources, Inc.
1111 Bagby, Suite 2400
Houston, Texas 77002
Re: Excel Resources, Inc.
Dear Mr. Brinkman and Members of the Board of Directors:
This letter will serve as my resignation from the Board of Directors of
Excel Resources, Inc. (the "Company") effective immediately. I am resigning
because the Company has taken actions with which I am not in agreement.
Sincerely,
/s/ Randall P. Matye
Randall P. Matye
