[SUBMISSION-CONTACT]
[NAME] JAMES P. MCGINNIS
[PHONE] (713) 364-0147
[PERIOD] 06/30/95
[TEXT]
U.S. Securities and Exchange Commission
Washington, D. C. 20549
Form 10-QSB-A
Annual Report Under Section 13 or 15(d)
of the
Securities Exchange Act of 1934
for the quarterly period ended
June 30, 1995
Commission File Number: 1-10425
WICHITA RIVER OIL CORPORATION
(Name of Small Business Issuer in its Charter)
Delaware 13-3544163
(State of Incorporation) (IRS Employer Identification Number)
3500 N. Causeway Blvd., Suite 410
Metairie, Louisiana 70002
(Address of Principle Executive Office) (Zip Code)
(504)-831-0381
(Issuer's Telephone Number, Including Area Code)
Securities registered under Section 12(b) of The Exchange Act:
Title of Each Class Name of Exchange on which Registered
Common Stock $0.01 par value American Stock Exchange
Securities registered under Section 12(g) of The Exchange Act: None
Check whether the Issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports) and (2) has been
subject to such filing requirements for the past 90 days: Yes x No .
Check if Transitional Small Business Format: Yes No x .
Applicable Only To Corporate Issuers
State the number of shares outstanding of each of the issuer's
classes of equity.
As of August 11, 1995, approximately 7,974,000 shares of Common Stock, $0.01
par value per share, were issued and outstanding.
<PAGE>
General and administrative expenses in 1995 were 53% lower when compared to
1994 and 32% lower excluding a $308,000 charge for settlement of litigation
during the first quarter of 1994. Interest expense in 1995 was 33% higher
due to higher interest rates. Depreciation, depletion and amortization costs
were 11% lower in 1995 despite 21% lower production volumes. The average
depletion rate in 1995 was $5.55 per BOE v. $5.00 in 1994.
Inflation has not had a material impact during the periods described above and
is not expected to have any material impact in the near future. The prices
received by the Company for oil and gas and the costs incurred by the Company
for operations in the recent past and for the foreseeable future have been
affected more by supply and demand factors and other general conditions than
by inflation.
Legal Proceedings
Wichita River Oil Corporation and the Company's subsidiary are defendants in
various lawsuits arising in the ordinary course of business. The Company
believes it has meritorious defenses to the lawsuits and will defend against
them. Based on its evaluation of such claims, as discussed with its outside
legal counsel, Company management is of the opinion that the ultimate
resolution of such matters will not have a material adverse effect on the
Company's financial position or results of operations and that such matters are
not material for an investment decision regarding the Company's securities.
Submission of Matters to a Vote of Security Holders
None.
Exhibits and Reports on Form 8-K
None.
Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized in New Orleans, State of
Louisiana on August 11, 1995.
Wichita River Oil Corporation
By: By:
Michael L. McDonald James P. McGinnis
(Signature) (Signature)
Chairman and President Controller
August 11, 1995
10
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 5
[DESCRIPTION] ART. 5 FDS FOR 2ND QUARTER 10QBS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<CASH> 39,000
<SECURITIES> 0
<RECEIVABLES> 895,000
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 934,000
<PP&E> 53,245,000
<DEPRECIATION> 28,006,000
<TOTAL-ASSETS> 26,781,000
<CURRENT-LIABILITIES> 9,995,000
<BONDS> 0
<COMMON> 1,436,000
0
0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 11,431,000
<SALES> 0
<TOTAL-REVENUES> 1,833,000
<CGS> 365,000
<TOTAL-COSTS> 365,000
<OTHER-EXPENSES> 1,325,000
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,109,000
<INCOME-PRETAX> (966,000)
<INCOME-TAX> 301,000
<INCOME-CONTINUING> (665,000)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (665,000)
<EPS-PRIMARY> (.08)
<EPS-DILUTED> 0
</TABLE>
