UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
Date of Report: April 18, 2008
(Date of Earliest Event Reported)
SPINDLETOP OIL & GAS CO.
(Exact name of registrant as specified in its charter)
Texas 000-18774 75-2063001
(State or other jurisdiction (Commission File No.) (IRS Employer or ID #)
of incorporation)
12850 Spurling Rd., Suite 200
Dallas, Texas 75230
(Address of principal executive offices)
(972) 644-2581
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions
[ ] Written communications pursuant to rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Section 2 - Financial Information
Item 2.02. Results of Operations and Financial Condition
On April 18, 2008, Spindletop Oil & Gas Co. ("the Company") announced its
operational results for the year ended December 31, 2007. A copy of the
announcement is attached as Exhibit 99.1.
The information furnished pursuant to Item 2.02 in this Form 8-K, including
Exhibit 99.1 attached hereto, shall not be deemed to be filed for purposes of
Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the
liabilities of that Section, unless we specifically incorporate it by
reference in a document filed under the Securities Act of 1933 or the
Securities Exchange Act of 1934. We undertake no duty or obligation to
publicly update or revise the information furnished pursuant to Item 2.02 of
this Current Report on Form 8-K.
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Section 9 - Financial Information
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
The following Exhibit is furnished with this report.
Exhibit
Designation Description of Exhibit
99.1* Press Release dated April 18, 2008
_______________________
* Furnished herewith
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report on Form 8-K to be signed on
its behalf by the undersigned thereunto duly authorized.
SPINDLETOP OIL & GAS CO.
(Registrant)
Date: April 18, 2008 By: /s/ Chris G. Mazzini
Chris G. Mazzini
President, Principal
Executive Officer
Date: April 18, 2008 By: /s/ Michelle H. Mazzini
Michelle H. Mazzini
Vice President, Secretary,
Treasurer
Date: April 18, 2008 By: /s/ Robert E. Corbin
Robert E. Corbin
Controller, Principal
Financial Officer
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Exhibit 99.1
PRESS RELEASE
SPINDLETOP OIL & GAS CO. RELEASES 2007 EARNINGS; NATURAL GAS PRODUCTION
INCREASES DUE TO THE NEWARK, EAST BARNETT SHALE FIELD.
DALLAS, April 18 /PRNewswire-FirstCall/ -- Spindletop Oil & Gas Co. (OTC
Bulletin Board: SPND) (the "Company") has released its earnings for the year
ended December 31, 2007. The Company reported Net Income of $1,808,000 on
gross revenues of $8,707,000 for the year ended December 31, 2007 as compared
with Net Income of $920,000 on gross revenues of $6,174,000 for the year
ended December 31, 2006. Earnings per share of common stock for the year
ended December 31, 2007 was $0.24 per share compared to $0.12 per share in
2006.
Oil and gas revenue increased $2,361,000 or 46.5% over the same period in
2006. Gas revenue increased by approximately $2,118,000 in 2007 or 56.9% over
2006 revenue. The increase in gas revenue was due to an increase in gas
volumes to approximately 881,000 mcf sold during 2007 as compared to
approximately 672,000 mcf sold in 2006 (a 31.1% increase) as well as an
increase in average gas prices received to $6.63 per mcf in 2007 over $5.55
per mcf in 2006. The primary increase in gas production was due to five of
the Company's Barnett Shale wells that were completed and began production
during 2007. Oil prices also contributed to the increase in gross revenues
as average prices received were $65.17 per bbl in 2007 versus $53.14 per bbl
in 2006.
This press release may contain "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995. Such
statements are based on management's current expectations and are subject to
a number of factors and uncertainties which could cause actual results to
differ materially from those described herein. Although the Company believes
that the expectations in such statements to be reasonable, there can be no
assurance that such expectations will prove to be correct.
Spindletop Oil & Gas Co. is a publicly held independent exploration and
production company headquartered in Dallas, Texas that operates oil and gas
properties throughout Texas, Alabama, Arkansas, Louisiana, Oklahoma and New
Mexico. The company also operates several gas pipeline gathering systems and
owns interests in outside operated oil and gas producing properties in
sixteen states. Approximately 87% of the company's reserves are natural gas
and approximately 13% are crude oil and condensate.
The company filed its Annual Report Form 10-K with the Securities and
Exchange Commission on April 14, 2008. For more information, please go to
the Company's website at http://www.spindletopoil.com, or contact
Robert E. Corbin, Controller of Spindletop Oil & Gas Co., 972-644-2581.
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