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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-KSB/A
AMENDMENT III
(Mark One)
[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1995
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from...............to...............
Commission file number 33-45253
ENEX OIL & GAS INCOME PROGRAM VI - Series 1, L.P.
(Name of small business issuer in its charter)
New Jersey 76-0303885
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
800 Rockmead Drive
Three Kingwood Place
Kingwood, Texas 77339
(Address of principal executive offices) (Zip Code)
Issuer's telephone number, including area code: (713) 358-8401
Securities registered under Section 12(b) of the Exchange Act: None
Securities registered under Section 12(g) of the Exchange Act:
Limited Partnership Interest
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 there is no disclosure of delinquent filers in response to
Item 405 of Regulation S-B is not contained in this form, and no disclosure will
be contained, to the best of the registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB.[x]
State issuer's revenues for its most recent fiscal year. $367,945
State the aggregate market value of the voting stock held by
non-affiliates computed by reference to the price at which the stock was sold,
or the average bid and asked prices of such stock as of a specified date within
the past 60 days (See definition of affiliate in Rule 12b-2 of the Exchange
Act):
Not Applicable
Documents Incorporated By Reference:
None
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<PAGE>
PART II
Item 5. Market for Common Equity and Related Security Holder Matters
Market Information
There is no established public trading market for the Company's
outstanding limited partnership interests.
Number of Equity Security Holders
Number of Record Holders
Title of Class (as of March 1, 1996)
----------------- -----------------------------
General Partner's Interests 1
Limited Partnership Interests 427
Dividends
The Company paid cash distributions to partners of $17 and $19 per
$500 investment in 1995 and 1994, respectively. The Company temporarily
suspended the payment of distributions in 1995. The payment of future
distributions will depend on the Company's earnings, financial condition,
working capital requirements and other factors, although it is anticipated that
future periodic distributions will be made once sufficient revenues are
accumulated.
II-1
<PAGE>
Item 6. Management's Discussion and Analysis or Plan of Operation
Results of Operations
This discussion should be read in conjunction with the financial
statements of the Company and the notes thereto included in this Form 10-KSB.
The Company's inception date was on April 29, 1994. Since its
inception, the following properties have been acquired by the Company.
Description Location Date Cost
- ----------------- ----------------- ----------------- ---------------
McBride Texas May 1, 1994 $ 655,198
Concord Primarily Texas October 1, 1994 $ 395,619
Oil and gas sales in 1995 were $367,945 as compared with $228,190 in
1994. Oil and gas sales increased by $139,755 or 61%. Oil sales increased by
$122,597 or 55%. A 55% increase in oil production caused a $124,072 increase in
oil revenues. This increase was partially offset by a 1% decrease in the average
oil sales price. Gas sales increased by $17,158 or 413%. A 276% increase in gas
production increased gas sales by $11,383. A 37% increase in the average gas
sales price increased sales by an additional $5,775. The increases in oil and
gas production were primarily the result of the purchase of the Concord
acquisition effective October 1, 1994 and the purchase of the McBride
acquisition on May 1, 1994. The decrease in the average oil sales price was
primarily the result of the acquisition of additional properties with a
relatively lower oil sales price, partially offset by higher prices in the
overall market for the sale of oil. The increase in the average gas sales price
was due to the acquisition of properties with a higher average gas sales price,
partially offset by lower prices in the overall market for the sale of gas.
Lease operating expenses were $184,342 in 1995 and $140,341 in 1994.
The increase of $44,001 or 31% from 1994 to 1995 was primarily due to the
increases in production, noted above, partially offset by relatively lower lease
operating expenses incurred on the McBride acquisition in 1995.
Depreciation and depletion expense was $166,316 in 1995 as compared
with $80,846 in 1994. This represents an increase in depletion and depreciation
expense of $85,470. The changes in production, noted above, resulted in a
$56,849 increase. A 21% increase in the depletion rate increased depreciation
and depletion expense by an additional $28,621. The increase in the depletion
rate was primarily the result of a downward revision of the oil reserves during
1995, partially offset by an upward revision of the gas reserves.
General and administrative expenses were $35,692 in 1995 as compared
with $50,941 in 1994. The decrease of $15,249 or 30% from 1994 to 1995 was
primarily the result of start-up expenses incurred in 1994 which were not
incurred in 1995.
Capital Resources and Liquidity
The Company's cash flows from operations is a direct result of the
amount of net proceeds from the sale of oil and gas production. It is the
general partners intention to distribute substantially all of the Company's
available net cash flows provided by operating, financing and investing
activities to the
II-2
<PAGE>
Company's partners. The Company became fully invested in oil and gas properties
in the fourth quarter of 1994.
The Company will continue to recover its reserves and distribute to
the limited partners, the net proceeds realized from the sale of oil and gas
production after payment of debt obligations. The Company plans to repay the
amount owed to the general partner over a period of two years. The Company
temporarily suspended the payment of distributions in 1995. Future distributions
are dependent upon, among other things, the prices received for oil and gas.
Distribution amounts are subject to change if net revenues are greater or less
than expected. Future periodic distributions will be made once sufficient
revenues are accumulated.
At December 31, 1995, the Company had no material commitments for
capital expenditures. The Company does not intend to engage in any significant
developmental drilling activity.
II-3
<PAGE>
Item 7. Financial Statements and Supplementary Data
INDEPENDENT AUDITORS' REPORT
The Partners
Enex Oil & Gas Income
Program VI - Series 1, L.P.:
We have audited the accompanying balance sheet of Enex Oil & Gas Income Program
VI - Series 1, L.P. (a New Jersey limited partnership) as of December 31, 1995,
and the related statements of operations, changes in partners' capital, and cash
flows for the year ended December 31, 1995 and for the period from inception
(April 29, 1994) to December 31, 1994. These financial statements are the
responsibility of the general partner of Enex Oil & Gas Income Program VI -
Series 1, L.P. Our responsibility is to express an opinion on the financial
statements based on our audit.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the financial position of Enex Oil & Gas Income Program VI - Series 1,
L.P. at December 31, 1995 and the results of its operations and its cash flows
for the year ended December 31, 1995 and for the period from inception (April
29, 1994) to December 31, 1994 in conformity with generally accepted accounting
principles.
DELOITTE & TOUCHE LLP
Houston, Texas
March 18, 1996
II-4
<PAGE>
<TABLE>
<CAPTION>
ENEX OIL & GAS INCOME PROGRAM VI - SERIES 1, L.P.
BALANCE SHEET, DECEMBER 31, 1995
- ------------------------------------------------------------------------------
ASSETS
1995
--------------
CURRENT ASSETS:
<S> <C>
Cash $ 2,810
Accounts receivable - oil & gas sales 26,468
Other current assets 2,132
--------------
Total current assets 31,410
--------------
OIL & GAS PROPERTIES
(Successful efforts accounting method) - Proved
mineral interests and related equipment & facilities 1,121,268
Less accumulated depreciation and depletion 247,162
--------------
Property, net 874,106
--------------
ORGANIZATION COSTS
(Net of accumulated amortization of $13,472) 26,943
-------------
TOTAL $ 932,459
==============
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
CURRENT LIABILITIES:
Accounts payable $ 30,731
Note payable to general partner 42,260
Payable to general partner 79,077
--------------
Total current liabilities 152,068
--------------
PARTNERS' CAPITAL (DEFICIT):
Limited partners 769,641
General partner 10,750
--------------
Total partners' capital 780,391
--------------
TOTAL $ 932,459
==============
Number of $500 Limited Partner units outstanding 2,021
</TABLE>
See accompanying notes to financial statements.
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II-5
<PAGE>
ENEX OIL & GAS INCOME PROGRAM VI - SERIES 1, L.P.
STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 1995 AND FOR THE
PERIOD FROM INCEPTION (APRIL 29, 1994) TO DECEMBER 31, 1994
- ------------------------------------------------------------------------------
<TABLE>
<CAPTION>
For the period
For the from inception
Year Ended (April 29, 1994) to
December 31, December 31,
1995 1994
------------------- -----------------
REVENUES:
<S> <C> <C>
Oil & gas sales $ 367,945 $ 228,190
------------------- -----------------
EXPENSES:
Depreciation, depletion and amortization 174,399 86,235
Lease operating expenses 184,342 140,341
Production taxes 16,911 10,600
General and administrative:
Allocated from general partner 23,709 24,249
Direct expense 11,983 26,692
------------------- -----------------
Total expenses 411,344 288,117
------------------- -----------------
LOSS FROM OPERATIONS (43,399) (59,927)
------------------- -----------------
OTHER INCOME (EXPENSE):
Interest expense (6,045) (5,333)
Interest income 127 9,135
------------------- -----------------
Other income (expense), net (5,918) 3,802
------------------- -----------------
NET LOSS $ (49,317) $ (56,125)
=================== =================
</TABLE>
See accompanying notes to financial statements.
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II-6
<PAGE>
ENEX OIL & GAS INCOME PROGRAM VI - SERIES 1, L.P.
STATEMENT OF CHANGES IN PARTNERS' CAPITAL
FOR THE YEAR ENDED DECEMBER 31, 1995 AND FOR THE
PERIOD FROM INCEPTION (APRIL 29, 1994) TO DECEMBER 31, 1994
- ------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PER $500
LIMITED
PARTNER
GENERAL LIMITED UNIT OUT-
TOTAL PARTNER PARTNERS STANDING
------------- ---------------- ------------------ -------------------
<S> <C> <C> <C> <C>
CONTRIBUTIONS $ 1,010,380 $ - $ 1,010,380 $ 500
COMMISSIONS AND
SYNDICATION FEES (47,603) - (47,603) (24)
CASH DISTRIBUTIONS (40,683) (1,550) (39,133) (19)
NET INCOME (LOSS) (56,125) 2,097 (58,222) (29)
------------- ---------------- ------------------ -------------------
BALANCE, DECEMBER 31, 1994 865,969 547 865,422 428
CASH DISTRIBUTIONS (36,261) (2,307) (33,954) (17)
NET INCOME (LOSS) (49,317) 12,510 (61,827) (30)
------------- ---------------- ------------------ -------------------
BALANCE, DECEMBER 31, 1995 $ 780,391 $ 10,750 $ 769,641 (1) $ 381
============= ================ ================== ===================
</TABLE>
(1) Includes 460 units purchased by the general partner as a limited partner.
See accompanying notes to financial statements.
- ----------------------------------------------------------------
II-7
<PAGE>
ENEX OIL AND GAS INCOME PROGRAM VI - SERIES 1, L.P.
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1995 AND FOR THE
PERIOD FROM INCEPTION (APRIL 29, 1994) TO DECEMBER 31, 1994
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
For the period
For the from inception
Year Ended (April 29, 1994) to
December 31, December 31,
1995 1994
-------------------- -----------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S> <C> <C>
Net loss $ (49,317) $ (56,125)
-------------------- -----------------
Adjustments to reconcile net loss to net cash
provided by operating activities
Depreciation, depletion and amortization 174,399 86,235
Proceeds from partners' contributions - 1,010,380
Commissions and syndication fees - (47,603)
Organization costs - (40,415)
(Increase) in:
Accounts receivable - oil & gas sales (1,812) (24,656)
Other current assets (1,312) (820)
Increase in:
Accounts payable 8,050 22,681
Payable to general partner 8,892 70,185
-------------------- -----------------
Total adjustments 188,217 1,075,987
-------------------- -----------------
Net cash provided by operating activities 138,900 1,019,862
-------------------- -----------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Property additions - development costs (57,055) -
Acquisition of proved oil and gas properties - (1,064,213)
-------------------- -----------------
Net cash used by investing activities (57,055) (1,064,213)
-------------------- -----------------
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on note payable to general partner - 87,000
Repayment of note payable to general partner (44,740) -
Cash distributions (36,261) (40,683)
-------------------- -----------------
Net cash provided (used) by financing activities (81,001) 46,317
-------------------- -----------------
NET INCREASE IN CASH 844 1,966
CASH AT BEGINNING OF YEAR 1,966 -
-------------------- -----------------
CASH AT END OF YEAR $ 2,810 $ 1,966
==================== =================
Cash paid during the year for interest $ 11,312 $ 66
==================== =================
</TABLE>
See accompanying notes to financial statements.
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II-8
<PAGE>
ENEX OIL & GAS INCOME PROGRAM VI - SERIES 1, L.P.
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1995 AND
FOR THE PERIOD FROM INCEPTION (APRIL 29, 1994) TO DECEMBER 31, 1994
- ------------------------------------------------------------------------------
1. PARTNERSHIP ORGANIZATION
Enex Oil & Gas Income Program VI - Series 1, L.P. (the "Company"),
a New Jersey limited partnership, commenced operations on April 29,
1994, for the purpose of acquiring proved oil and gas properties.
Total limited partner contributions were $1,010,380, of which
$10,104 was contributed by Enex Resources Corporation ("Enex"), the
general partner.
In accordance with the partnership agreement, the Company paid
commissions and due diligence expenses of $47,603 for solicited
subscriptions to Enex Securities Corporation, a subsidiary of Enex,
and reimbursed Enex for organization expenses of approximately
$40,000.
Information relating to the allocation of costs and revenues
between Enex, as general partner, and the limited partners is as
follows:
Limited
Enex Partners
Commissions and selling expenses 100%
Company reimbursement of organization
expense 100%
Company property acquisition 100%
General and administrative costs * 10% 90%
Costs of drilling and completing
development wells 10% 90%
Revenues from temporary investment of
partnership capital 100%
Revenues from producing properties 10% 90%
Operating costs (including general and
administrative costs associated with
operating producing properties) 10% 90%
* General and administrative costs allocated to the Company each
year by the general partner are limited to 2.4% of Limited
Partner contributions.
At the point in time when the cash distributions to the limited
partners equal their subscriptions ("payout"), the costs of
drilling and completing development wells, revenues from producing
properties, general and administrative costs and operating costs
will be allocated 15% to the general partner and 85% to the limited
partners.
II-9
<PAGE>
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Oil and Gas Properties - The Company uses the successful efforts
method of accounting for its oil and gas operations. Under this
method, the costs of all development wells are capitalized.
Capitalized costs are amortized on the units-of-production method
based on estimated total proved reserves. The acquisition costs of
improved oil and gas properties are capitalized and periodically
assessed for impairment.
The Financial Accounting Standards Board has issued Statement of
Financial Accounting Standards No. 121, "Accounting for the
Impairment of Long Lived Assets and for Long-Lived Assets to Be
Disposed Of." This statement requires that long-lived assets and
certain identifiable intangibles held and used by the Company be
reviewed for impairment whenever events or changes in circumstances
indicate that the carrying amount of an asset may not be
recoverable.
The Company has not determined the effect, if any, on its financial
position or results of operations which may result from the
adoption of this statement in the first quarter of 1996.
The Company's operating interests in oil and gas properties are
recorded using the pro rata consolidation method pursuant to
Interpretation 2 of Accounting Principles Board Opinion 18.
Organization Costs - Organization costs are being amortized on a
straight-line basis over a five-year period.
Cash Flows - The Company has presented its cash flows using the
indirect method and considers all highly liquid investments with an
original maturity of three months or less to be cash equivalents.
General and Administrative Expenses - The Company reimburses the
General Partner for direct costs and administrative costs incurred
on its behalf. Administrative costs allocated to the Company are
computed on a cost basis in accordance with standard industry
practices by allocating the time spent by the General Partner's
personnel among all projects and by allocating rent and other
overhead on the basis of the relative direct time charges. The
total annual reimbursement cannot exceed an amount equal to 2.4% of
Limited Partner contributions.
Uses of Estimates - The preparation of the financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of
contigent assets and liabilities at the date of the financial
statements and the reported amounts of revenue and expenses during
the reporting periods. Actual results could differ from these
estimates.
3. FEDERAL INCOME TAXES
General - The Company is not a taxable entity for federal income
tax purposes. Such taxes are liabilities of the individual partners
and the amounts thereof will vary depending on the individual
situation of each partner. Accordingly, there is no provision for
income taxes in the accompanying financial statements.
II-10
<PAGE>
Set forth below is a reconciliation of net income (loss) as reflected in the
accompanying financial statements and net income (loss) for federal income tax
purposes for the year ended December 31, 1995:
<TABLE>
<CAPTION>
Allocable to Per $500 Limited
-------------------------------------
General Limited Partner Unit
TOTAL Partner Partners Outstanding
------------------ ------------------ ----------------- ------------------
Net income (loss) as reflected in the
<S> <C> <C> <C> <C>
accompanying financial statements $ (49,317) $ 12,510 $ (61,827) $ (30)
Reconciling items:
Intangible drilling costs capitalized
for financial reporting purposes
which were charged-off for federal
income tax purposes (18,275) (1,827) (16,448) (8)
Difference in depreciation,
depletion and amortization
computed for federal income
tax purposes and the amount
computed for financial
reporting purposes (12,452) - (12,452) (7)
------------------ ------------------ ----------------- ------------------
Net income (loss) for federal
income tax purposes $ (80,044) $ 10,683 $ (90,727) $ (45)
================== ================== ================= ==================
</TABLE>
Net income (loss) for federal income tax purposes is a summation of ordinary
income (loss), portfolio income, cost depletion and intangible drilling costs as
presented in the Company's federal income tax return.
Set forth below is a reconciliation between partners' capital as reflected in
the accompanying financial statements and partners' capital for federal income
tax purposes as of December 31, 1995:
<TABLE>
<CAPTION>
Allocable to Per $500 Limited
-------------------------------------
General Limited Partner Unit
TOTAL Partner Partners Outstanding
------------------ ------------------ ----------------- -------------------
Partners' capital as reflected in the
<S> <C> <C> <C> <C>
accompanying financial statements $ 780,391 $ 10,750 $ 769,641 $ 381
Reconciling items:
Intangible drilling costs capitalized
for financial reporting purposes
which were charged-off for federal
income tax purposes (18,275) (1,827) (16,448) (8)
Difference in accumulated
depreciation, depletion and
amortization for financial reporting
federal income income tax purposes (9,059) 237 (9,296) (5)
Commissions and syndication
fees capitalized for federal
income tax purposes 47,603 - 47,603 24
------------------ ------------------ ----------------- -------------------
Partners' capital for federal
income tax purposes $ 800,660 $ 9,160 $ 791,500 $ 392
================== ================== ================= ===================
</TABLE>
II-11
<PAGE>
4. SIGNIFICANT PURCHASERS
NorcoCrude Gathering Inc. and Amoco Oil Production Co. accounted for
57% and 10%, respectively, of the Company's total sales in 1995. Oasis Oil
Company and Norco Crude Gathering Inc. accounted for 54% and 28%,
respectively, of the Company's total sales in 1994. No other purchaser
individually accounted for more than 10% of such sales.
5. PAYABLE TO GENERAL PARTNER
The payable to general partner primarily consists of general and
administrative expenses allocated to the Company by Enex during the
Company's start-up phase and for its ongoing operations and lease
operating expenses paid on behalf of the Company by Enex. The
Company plans to repay the amounts owed to the general partner over
a period of two years.
6. PROPERTY TRANSACTIONS
Effective May 1, 1994, the Company acquired working interests in 41
wells located in Caldwell and Bastrop Counties, Texas for $655,198.
Effective October 1, 1994, the Company acquired working and royalty
interests in over 10,600 wells located primarily in Texas for
$395,619 from an affiliated limited partnership. The purchase price
represents the fair market value as determined from the receipt of
bids solicited from independent third party companies.
7. NOTE PAYABLE TO GENERAL PARTNER
On December 29, 1994, in order to partially finance the purchase of
the Concord acquisition discussed in Note 6, above, the Company
borrowed $87,000 from the general partner. The resulting note
payable to the general partner bears interest at the general
partner's borrowing rate of prime plus three-fourths of one percent
(9.25% at both December 31, 1995 and 1994). The weighted average
principal outstanding of $65,424 bore interest at a weighted
average rate of 9.76%. The outstanding principal balance was
$42,260 and $87,000 at December 31, 1995 and 1994, respectively.
The Company plans to repay the note payable to the general partner
during 1996.
II-12
<PAGE>
ENEX OIL & GAS INCOME PROGRAM VI - SERIES 1, L.P.
SUPPLEMENTARY OIL INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1995 AND FOR THE
PERIOD FROM INCEPTION (APRIL 29, 1994) TO DECEMBER 31, 1994
- -------------------------------------------------------------------------
Proved Oil and Gas Reserve Quantities (Unaudited)
The following presents an estimate of the Company's proved oil and gas reserve
quantities and changes therein for the year ended December 31, 1995 and for the
period from inception (April 29, 1994) to December 31, 1994. Natural gas
reserves are stated in thousand cubic feet ("MCF") and oil reserves in barrels
("BBLS"). The amounts per $500 limited partner unit do not include a potential
5% reduction after payout. All of the Company's reserves are located within the
United States.
<TABLE>
<CAPTION>
Per $500 Per $500
Limited Natural Limited
Oil Partner Unit Gas Partner Unit
(BBLS) Outstanding (MCF) Outstanding
--------------- ------------------ ----------------- ----------------
PROVED DEVELOPED AND
UNDEVELOPED RESERVES:
<S> <C> <C> <C> <C>
Purchases of minerals 168,557 75 65,400 29
Production (13,563) (6) (5,904) (3)
--------------- ------------------ ----------------- ----------------
December 31, 1994 154,994 69 59,496 26
--------------- ------------------ ----------------- ----------------
Revisions of previous estimates (12,549) (6) 35,610 16
Production (21,075) (9) (22,210) (10)
--------------- ------------------ ----------------- ----------------
December 31, 1995 121,370 54 72,896 32
=============== ================== ================= ================
PROVED DEVELOPED RESERVES
AT DECEMBER 31:
1994 134,008 60 59,496 26
=============== ================== ================= ================
1995 101,700 45 72,896 32
=============== ================== ================= ================
</TABLE>
II-13
<PAGE>
Item 8. Changes In and Disagreements With Accountants on Accounting and
Financial Disclosure
Not Applicable
II-14
<PAGE>
SIGNATURES
In accordance with Section 13 or 15 (d) of the Exchange Act,
the registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
ENEX OIL & GAS INCOME PROGRAM VI -
SERIES 1, L.P.
By: ENEX RESOURCES CORPORATION
the General Partner
December 23, 1996 By: /s/ G. B. Eckley
-------------------
G. B. Eckley, President
In accordance with the Exchange Act, this report has been
signed below on December 23, 1996, by the following persons in the capacities
indicated.
ENEX RESOURCES CORPORATION General Partner
By: /s/ G. B. Eckley
------------------------
G. B. Eckley, President
/s/ G. B. Eckley
President, Chief Executive
------------------ Officer and Director
G. B. Eckley
/s/ R. E. Densford Vice President, Secretary, Treasurer,
Chief Financial Officer and Director
-------------------
R. E. Densford
/s/ James A. Klein Controller and Chief Accounting Officer
-----------------
James A. Klein
S-1
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
(Replace this text with the legend)
</LEGEND>
<CIK> 0000883474
<NAME> ENEX OIL & GAS INCOME PROGRAM VI - SERIES 1, L.P.
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> dec-31-1996
<PERIOD-START> jan-01-1996
<PERIOD-END> dec-31-1996
<CASH> 2810
<SECURITIES> 0
<RECEIVABLES> 26468
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 31410
<PP&E> 1121268
<DEPRECIATION> 247162
<TOTAL-ASSETS> 932459
<CURRENT-LIABILITIES> 152068
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 780391
<TOTAL-LIABILITY-AND-EQUITY> 932459
<SALES> 367945
<TOTAL-REVENUES> 367945
<CGS> 375652
<TOTAL-COSTS> 411344
<OTHER-EXPENSES> (6045)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (49317)
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
