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UNITED STATES
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 of 1934
January 20, 1997
Date of Report (Date of earliest event reported)_______________________________
MAGNUM PETROLEUM, INC.
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(Exact name of registrant as specified in its charter)
NEVADA 1-12508 87-0462881
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
600 East Las Colinas Boulevard, Suite 1200, Irving, Texas 75039
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (214) 401-0752
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(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant.
The accounting firm of Hein + Associates, L.L.P. ("Hein") represented
Magnum Petroleum, Inc. (the "Company") as its independent accountants during
fiscal year 1995 and was dismissed by the Company's Board of Directors on
January 20, 1997. During the Company's most recent fiscal year and subsequent
interim period through the date of dismissal, there were no disagreements
between the Company and Hein on any matter of accounting principals or
practices, financial statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of Hein, who would have
caused it to make reference to the subject matter of the disagreement in
connection with its reports. Hein's reports on the financial statements of the
Company for the most recent fiscal year did not contain an adverse opinion or
disclaimer of opinion, and were not qualified or modified as to uncertainty,
audit scope or accounting principles. The Company's Board of Directors has
appointed Deloitte & Touche L.L.P. as the Company's independent accountants for
fiscal year 1996.
The Company has provided Hein with a copy of the disclosures contained
herein, and has requested that it furnish the Company with a letter addressed to
the Securities and Exchange Commission stating whether it agrees with the
statements made by the Company in response to item 304 (a) regarding its
involvement with the Company as independent accountants and, if not, stating the
respects in which it does not agree.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
16.1 Acknowledgment letter from Hein + Associates L.L.P. regarding
its dismissal as the Company's independent public accountants
(to be filed by amendment).
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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.
MAGNUM PETROLEUM, INC.
/s/ Gary C. Evans
BY:____________________________
Gary C. Evans
President and CEO
Dated: January 23, 1997
