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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 26, 1996
AVIVA PETROLEUM INC.
(Exact name of registrant as specified in its charter)
TEXAS 0-22258 75-1432205
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation or organization) Identification Number)
8235 DOUGLAS AVENUE, 75225
SUITE 400, DALLAS, TEXAS (Zip Code)
(Address of principal executive offices)
(214) 691-3464
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
The press release dated November 26, 1996 that is filed herewith as Exhibit
20.1 is incorporated herein by reference.
ITEM 7. EXHIBITS
c) Exhibits
20.1 Press release dated November 26, 1996 reporting agreement to sell U.S.
onshore properties.
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SIGNATURES
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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 thereunto duly authorized.
AVIVA PETROLEUM INC.
Date: November 26, 1996 /s/ James L. Busby
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James L. Busby
Treasurer and Secretary
(principal financial and accounting
officer)
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EXHIBITS
Number Description of Exhibit
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**20.1 Press release dated November 26, 1996 reporting agreement to sell
U.S. onshore properties.
_____________
** Filed Herewith
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EXHIBIT 20.1
PRESS RELEASE
[LOGO OF AVIVA PETROLEUM APPEARS HERE]
For immediate release
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AVIVA REPORTS AGREEMENT TO SELL U. S. ONSHORE PROPERTIES
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DALLAS, TEXAS, NOVEMBER 26, 1996 . . . .Aviva Petroleum Inc. (AMEX: "AVV"), the
Dallas-based oil and gas exploration company, reported today that it had reached
an agreement to sell, effective October 1, 1996, all of its remaining United
States onshore oil and gas properties for $3,000,000 in cash, subject to
adjustments at closing which is expected to occur on or before December 23,
1996. The bulk of the proceeds will be used to reduce bank debt, with the
remainder added to working capital.
This sale concludes the process of rationalization of assets acquired by the
Company through acquisitions in 1989 and 1990. The Company's remaining U.S. oil
and gas properties are now offshore Louisiana, at Breton Sound and Main Pass,
both of which are operated by the Company.
The properties sold comprise approximately 350 wells located primarily in
Pennsylvania, Oklahoma and Wyoming. During 1995, daily production averaged 64
barrels of oil per day and 2.3 million cubic feet of gas, net to the Company's
interest, representing approximately 4% and 72%, respectively, of the Company's
total production. For 1995, revenue and pre-tax loss attributable to these
properties were $1,740,000 and $160,000, respectively.
Aviva Petroleum is engaged in the exploration for and the development and
production of oil and gas in Colombia and offshore in the United States.
Aviva's common stock is also quoted on the London Stock Exchange (symbol "AVP").
Further Information:
Ron Suttill
Aviva Petroleum Inc.
Dallas, Texas
214 691 3464
