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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): April 13, 1999
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 April 13, 1999, that is filed herewith as Exhibit
20.1 is incorporated herein by reference.
Item 7. Exhibits
c) Exhibits
20.1 Press release dated April 13, 1999, updating the merger plans
between Aviva Petroleum Inc. and Sharpe Resources Corporation.
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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: April 14, 1999 /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 April 13, 1999, updating the merger plans between
Aviva Petroleum Inc. and Sharpe Resources Corporation.
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** Filed Herewith
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Exhibit 20.1
PRESS RELEASE [LOGO OF AVIVA APPEARS HERE]
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AVIVA / SHARPE MERGER UPDATE
Dallas, Texas [April 13, 1999] . . . The chief executives of Sharpe Resources
Corporation (SHO-ME) and Aviva Petroleum Inc. (LSE-AVP) report that the proposed
merger of the two companies announced on March 4, 1999 is proceeding as a result
of current discussions with lenders on restructuring Aviva's $15 million secured
debt. The lenders have agreed, subject to final approvals, to accept $5 million
in cash, $3 million of preferred stock in the merged entity and 25% of the
Sharpe common stock to be issued to Aviva shareholders. Funding of the $5
million cash payment to Aviva's lenders is expected to come from debt and equity
financing. The merger itself is subject to final negotiation, execution and
delivery of definitive agreements, and approval by the board of directors and
shareholders of both companies. Roland Larsen, CEO of Sharpe, and Ron Suttill,
CEO of Aviva, both commented that they are pleased to have been able to reach an
agreement with lenders that allows the merged company to become active again in
a potentially profitable oil and gas industry environment.
The Companies are engaged in exploration for and development and production of
oil and gas in Colombia, onshore and offshore in the United States, and Papua
New Guinea.
Aviva's depositary shares, one of which equals five common shares, have been
delisted from trading on the American Stock Exchange. Aviva expects that the
depositary shares will trade over-the-counter in the near future.
Safe Harbor for Forward-Looking Statements: Except for historical information
contained herein, the statements in this press release are forward-looking
statements that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties which may cause the Companies' actual
results in future periods to differ materially from forecasted results. These
risks and uncertainties include, among other things, general economic
conditions, volatility of oil and gas prices, the impact of possible
geopolitical occurrences world-wide, imprecision of reserve estimates, changes
in laws and regulations, unforeseen engineering and mechanical or technological
difficulties in drilling or working-over wells, and other risks described in the
Companies' filings with the Securities and Exchange Commission.
Further Information:
Ron Suttill, Aviva Petroleum Inc. 214 691 3464 Roland Larsen, Sharpe Resources
Corporation 713 652 3828
