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UNITED STATES SEC File Number
SECURITIES AND EXCHANGE COMMISSION 0-21702
Washington, D.C. 20549 -------
Cusip Number
FORM 12b-25 595673-20.3
NOTIFICATION OF LATE FILING
(Check One) [ ]Form 10-K [ ]Form 20-F [ ]Form 11-K [X]Form 10-QSB [ ]Form N-SAR
For Period Ended: September 30, 1998
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
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READ ATTACHED INSTRUCTION SHEET BEFORE PREPARING FORM. PLEASE PRINT OR TYPE
Nothing in the form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
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PART I - REGISTRANT INFORMATION
MIDDLE BAY OIL COMPANY, INC.
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Full Name of Registrant
N/A
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Former Name if Applicable
1221 Lamar Street, Suite 1020
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Address of Principal Executive Office (STREET AND NUMBER)
Houston, Texas 77010
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City, State and Zip Code
PART II - RULES 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following
should be completed. (Check appropriate box)
[ ] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
[X] (b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion
thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
report of transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following
the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed with the
prescribed time period. (Attach Extra Sheets if Needed)
The continued consolidation of the accounting records and accounting
methods necessary subsequent to the acquisition of Enex Resources
Corporation on March 27, 1998 (reported on Form 8-K on May 6, 1998),
together with unanticipated delays caused by the change in accountants
of Middle Bay previously reported on Form 8-K on October 26, 1998,
have delayed the preparation and completion of the subject report.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Frank C. Turner, II (713) 759-6808
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such
shorter period that the registrant was required to file such reports
been filed? If answer is no identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject
report or portion thereof? [X] Yes [ ] No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made:
The following is a summary of significant changes which the Registrant
anticipates filing:
Nine Months Ended September 30, 1998 and 1997 (Dollar Amounts in Thousands)
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Total revenues for the nine months ended September 30, 1998 of $13,260
were $5,358 higher than the comparable period. This increase in total
revenues is due principally to higher oil and gas revenues of $4,165.
The increase in oil and gas revenues consists primarily of a $1,547
increase in oil revenues and a $2,511 increase in gas revenues. This
increase results from higher oil and gas production.
Total expenses will have increased by $9,161 over the comparable
period in 1997. Due to the growth of Registrant over the last 12 months,
all categories of expenses will have increased.
Registrant anticipates reporting an operating loss of $3,738 for the
nine months ended September 30, 1998 versus an operating loss of $70
for the comparable period.
Registrant anticipates reporting a deferred income tax benefit of $1,271
in the current period. No deferred taxes were recorded in the comparable
period.
Registrant anticipates reporting a net loss of $2,467 for the nine
months ended September 30, 1998 versus net income of $70 for the
comparable period. After considering the preferred stock dividend
requirement of $68 in the current period and $409 in the comparable
period, Registrant anticipates reporting a net loss available to
common stockholders in the current and comparable periods of $2,535
and $338, respectively.
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Middle Bay Oil Company, Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date November 12, 1998 By /s/ Frank C. Turner, II
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Frank C. Turner, II
