SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
June 15, 1999
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Date of Report (Date of earliest event reported)
AMERICAN RESOURCES OFFSHORE, INC.
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(Exact name of Registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-21472 86-0713506
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(Commission File Number) (IRS Employer Identification No.)
160 Morgan Street
P. O. Box 87
Versailles, Kentucky 40383
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(Address of principal executive offices) (Zip Code)
(606)873-5455
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(Registrant's Telephone Number, including Area Code)
Not Applicable
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(Former name or former address, if changed since last report)
Item 1. Changes in Control of Registrant. Not Applicable.
Item 2. Acquisition or Disposition of Assets. Not Applicable.
Item 3. Bankruptcy Receivership. Not Applicable.
Item 4. Change in Registrant's Certified Accountant. Not
Applicable.
Item 5. Other Events.
On June 15, 1999, TECO Energy, Inc. ("TECO") exercised
its rights under the Warrant Agreement with the
Registrant dated March 5, 1998, to acquire 2,004,693
shares of the Registrant's common stock. Under the
Warrant Agreement, TECO has rights to acquire
additional shares of the Registrant's common stock. A
copy of the Warrant Agreement was attached as Exhibit
10.91 to the Registrant's 8-K/A filed March 16, 1998
and is incorporated herein by reference.
On June 15, 1999, the Registrant was declared to be in
default under its credit facility and bridge loans with
its primary lender, DNB Energy Assets, Inc.
Item 6. Resignation of Registrant's Directors. Not Applicable.
Item 7. Financial Statements and Exhibits.
Exhibit 10.91 Warrant Agreement between American
Resources of Delaware, Inc. and TECO Oil
& Gas, Inc. (incorporated by reference
to Exhibit 10.91 to Registrant's Form 8-
K/A filed on March 16, 1998).
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SIGNATURE
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.
AMERICAN RESOURCES OFFSHORE, INC.
By: /s/Ralph A. Currie
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Ralph A. Currie
Its: Chief Financial Officer
Dated: June 22, 1999
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