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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): January 7, 1997
AVIVA PETROLEUM INC.
(Exact name of registrant as specified in its charter)
TEXAS 0-22258 75-1432205
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
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 January 7, 1997, that is filed herewith as Exhibit
20.1 is incorporated herein by reference.
ITEM 7. EXHIBITS
c) Exhibits
20.1 Press release dated January 7, 1997, reporting on the closing of the
U.S. onshore properties sale.
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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: January 7, 1997 /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 January 7, 1997, reporting on the closing of
the U.S. onshore properties sale.
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** 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 PETROLEUM REPORTS CLOSING
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OF U.S. ONSHORE PROPERTIES SALE
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DALLAS, TEXAS, JANUARY 7, 1997 . . . .Aviva Petroleum Inc. (AMEX: "AVV"), the
Dallas based oil and gas exploration company reports today the successful
closing, on December 23, 1996, of the sale of all of its United States onshore
oil and gas properties for approximately $3,000,000 in cash.
Out of these proceeds, $2.8 million has been applied to reduce bank debt to just
under $8 million at December 31, 1996, bringing the Company's debt to equity
ratio down to approximately 30 percent. The remainder of the proceeds was 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 now operates both of its remaining U.S. oil and gas properties,
which are in the Gulf of Mexico offshore Louisiana, at Main Pass 41 and Breton
Sound 31 fields. The Company is currently conducting discussions with several
prospective industry partners interested in farming-in to the Breton Sound 31
deep prospects indicated by a recently interpreted 3-D seismic survey.
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
