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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: March 31, 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)
Consolidation of accounting records of and accounting for the
acquisition of Enex Resources Corporation on March 27, 1998 (reported
on Form 8-K on May 6, 1998) has 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 in results of operations which
the Registrant anticipates filing:
Three Months Ended March 31, 1998 and 1997
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Total revenues for the three months ended March 31, 1998 of $2,757,000
were $856,000 higher than the comparable period. This increase in total
revenues is due principally to higher oil and gas revenues of $756,000.
The increase in oil and gas revenues consists primarily of a $364,000
increase in oil revenues and a $349,000 increase in gas revenues. This
increase results from higher oil and gas production.
Total expenses will have increased by $3,308,000 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 $2,143,000 for the
three months ended March 31, 1998 versus operating income of $40,000 for
the comparable period.
Registrant anticipates reporting a deferred income tax benefit of $728,000
in the current period. No deferred taxes were recorded in the comparable
period.
Registrant anticipates reporting a net loss of $1,414,000 for the three
months ended March 31, 1998 versus net income of $40,000 for the comparable
period. After considering the preferred stock dividend requirement of
$68,000 in the current period and $62,000 in the comparable period,
Registrant anticipates reporting a net loss available to common stockholders
in the current and comparable periods of $1,482,000 and $22,000, 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 May 14, 1998 By /s/ Frank C. Turner, II
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Frank C. Turner, II
