SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
(AMENDMENT #1)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 1997
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE TRANSITION PERIOD FROM
_________________ TO __________________
COMMISSION FILE NUMBER 0-6910
TEL OFFSHORE TRUST
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
TEXAS 76-6004064
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
CHASE BANK OF TEXAS
NATIONAL ASSOCIATION
712 MAIN STREET
HOUSTON, TEXAS 77002
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (713) 216-5712
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
NAME OF EACH EXCHANGE
TITLE OF EACH CLASS ON WHICH REGISTERED
------------------- -------------------
NONE NONE
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
UNITS OF BENEFICIAL INTEREST
(TITLE OF CLASS)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No ____
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]
The aggregate market value of the 4,751,510 Units of Beneficial Interest in
TEL Offshore Trust held by non-affiliates of the registrant at the closing sales
price on March 20, 1998, of $5.3125 was $25,242,396.88.
Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date.
As of March 20, 1998, 4,751,510 Units of Beneficial Interest in TEL
Offshore Trust.
Documents Incorporated By Reference: None
================================================================================
<PAGE>
Explanatory Note:
This amendment to the Tel Offshore Trust 10-K is made to file a Corrected
Financial Data Schedule as Exhibit 27.
<PAGE>
SIGNATURES
PURSUANT TO THE REQUIREMENTS OF SECTION 13 OR 15(D) 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 ON THIS 30TH DAY OF
MARCH, 1998.
TEL OFFSHORE TRUST
By CHASE BANK OF TEXAS, NATIONAL
ASSOCIATION, CORPORATE TRUSTEE
By /s/ PETE FOSTER
PETE FOSTER
SENIOR VICE PRESIDENT
& TRUST OFFICER
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THIS
REPORT HAS BEEN SIGNED BELOW BY THE FOLLOWING PERSONS ON BEHALF OF THE
REGISTRANT AND IN THE CAPACITIES AND ON THE DATES INDICATED.
SIGNATURE DATE
CHASE BANK OF TEXAS, NATIONAL
ASSOCIATION, Corporate Trustee
By/s/PETE FOSTER March 30, 1998
PETE FOSTER
SENIOR VICE PRESIDENT
& TRUST OFFICER
INDIVIDUAL TRUSTEES
/s/GEORGE ALLMAN, JR. March 30, 1998
GEORGE ALLMAN, JR., TRUSTEE
/s/W. LESLIE DUFFY March 30, 1998
W. LESLIE DUFFY, TRUSTEE
/s/RICHARD L. MELTON March 30, 1998
RICHARD L. MELTON, TRUSTEE
46
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS, LIABILITIES, AND TRUST CORPUS AS OF DECEMBER 31,
1997 AND THE STATEMENT OF DISTRIBUTABLE INCOME FOR THE TWELVE MONTHS ENDED
DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<CASH> 3,425,376
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 3,425,376
<PP&E> 28,267,655
<DEPRECIATION> 27,564,441
<TOTAL-ASSETS> 4,128,590
<CURRENT-LIABILITIES> 1,952,687
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 703,214
<TOTAL-LIABILITY-AND-EQUITY> 4,128,590
<SALES> 7,058,057
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 1,000,000
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 6,058,057
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 6,058,057
<EPS-PRIMARY> 1.274
<EPS-DILUTED> 1.274
</TABLE>
