<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 0-8403
NOTIFICATION OF LATE FILING
(Check One): [X]Form 10-K [_]Form 11-K [_]Form 20-F [_]Form 10-Q
[_] Form N-SAR
For Period Ended:
-----------------------------------------------------
[_] Transition Report on Form 10-K [_] Transition Report on Form 10-Q
[_] Transition Report on Form 20-F [_] Transition Report on Form N-SAR
[_] Transition Report on Form 11-K
For the Transition Period Ended:
--------------------------------------
Read attached instruction sheet before preparing form. Please print or
type.
Nothing in this 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:
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PART I
REGISTRANT INFORMATION
Full name of registrant Southern Mineral Corporation
--------------------------------------------------------
Former name if applicable
- --------------------------------------------------------------------------------
Address of principal executive office (Street and number)
1201 Louisiana Street, Suite 3350
- --------------------------------------------------------------------------------
City, state and zip code Houston, Texas 77002
--------------------------------------------------------
PART II
RULE 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 box if appropriate.)
| (a) The reasons described in reasonable detail in Part III of
| this form could not be eliminated without unreasonable effort
| or expense;
| (b) The subject annual report, semi-annual report,
| transition report on Form 10-K, 20-F, 11-K or Form
| N-SAR, or portion thereof will be filed on or before
| the 15th calendar day following the prescribed due
[X] | date; or the subject quarterly report or 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 Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period:
On October 29, 1999, the Registrant filed a petition for
relief under Chapter 11 of the United States Bankruptcy Code in the
United States Bankruptcy Court. Due to the disruption in the
Registrant's normal business operations caused by the administrative
burden relating to such bankruptcy filing, the Registrant is unable to
timely prepare its financial statement and other related disclosure
without unreasonable effort or expense.
<PAGE>
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Michael E. Luttrell (713) 658-9444
- -------------------------------------------------------------------------------
(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 report(s) been filed? If the answer is no,
identify report(s).
[_] Yes [X] No
The Registrant failed to file an amendment to the Current
Report on Form 8-K, dated August 16, 1999, to include in the Current
Report on Form 8-K the pro forma financial statements required pursuant
to Article 11 of Regulation S-X.
(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. See Annex 1.
Southern Mineral Corporation
- -------------------------------------------------------------------------------
(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date March 31, 2000 By /s/ Michael E. Luttrell
------------------------------- -----------------------------
Michael E. Luttrell
Vice President - Finance and
Chief Financial Officer
<PAGE>
ANNEX 1
In March 2000, the Registrant sold the interest held by its subsidiary,
Neutrino Resources Inc., in Swan Hills fields in Alberta, Canada for $9.0
million, in cash, subject to certain adjustments and rights of first refusal of
approximately $1.45 million resulting in an impairment of the value of the
properties of $8.7 million in 1999. In 1999, the Registrant sold its Brushy
Creek Field and Texas Garden Field interest for $15.2 million and mineral
interests for $6.0 million, in cash, resulting in a net gain of approximately
$12 million on such sales. Also during 1999, the Registrant expensed
approximately $1.37 million of costs associated with a proposed restructuring of
its 6.875% Convertible Subordinated Debentures due 2007 that was abandoned
during such period. In October 1999, the Registrant and certain of its
subsidiaries jointly filed for relief under Chapter 11 of the United States
Bankruptcy Code in the United States Bankruptcy Court. In 1999, the Registrant
incurred approximately $550,000 in bankruptcy related costs and expensed $2.5
million in capitalized loan and debenture origination costs and expenses as
required by SOP 90-7.
