UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act of
1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
Rick G. Avare
160 Morgan Street
Versailles, Kentucky 40383
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2. Issuer Name and Ticker or Trading Symbol
American Resources Offshore, Inc.
(GASS)
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3. IRS or Social Security Number of Reporting Person
(Voluntary)
###-##-####
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4. Statement for Month/Year
January 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
[X] Director
[X] Officer; Title -President and Chief Executive Officer
[ ] 10% Owner
[ ] Other (specify below)
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7. Individual or Joint/Group Filing
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<PAGE>
<TABLE>
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Transaction Securities Acquired (A) Nature of
Code or Disposed of (D) Amount of Securities Ownership Form: Indirect
Transaction ----------- ------------------------- Beneficially Owned Direct (D) or Beneficial
Title of Security Date Code V Amount (A) or (D) Price At End of Month Indirect (I) Ownership
- ----------------- ---- ---- - ------ ---------- ----- --------------- ------------ ---------
<S> <C> <S> <C> <S> <C> <C> <S>
Common Stock
$.00001 par value 1/22/99 J 7,500(1) A $0.46 783,458 D
</TABLE>
<PAGE>
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
Title and
Number of Date Amount of
Derivative Exercisable Underlying Number of Ownership
Securities and Securities Derivative Form of Nature
Conversion Acquired Expiration ---------- Securities Derivative of
or Trans- (A) or Date Amount Price Benefi- Security: Indirect
Exercise action Disposed -------------- or of cially Direct Benefi-
Title of Price of Trans- Code of (D) Date Expira- Number Deriv- Owned at (D) or cial
Derivative Derivative action ------ ---------- Exer- tion of ative End of Indirect Owner-
Security Security Date Code V (A) (D) cisable Date Title Shares Security Month (I) ship
- ---------- ---------- ------ ---- - --- --- ------- ----- ----- ------ -------- --------- -------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
<PAGE>
Explanation of Responses:
(1) Stock issued as a dividend on Series 1993 8% Convertible
Preferred Stock.
/s/ Rick G. Avare
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Date: 2/10/99
