MAYNARD OIL CO

Filed Form 15-12G to deregister, reporting just one holder of record - confirming the Plantation Petroleum merger had closed and cashed out all public shareholders at $17.00/share.

listing compliance notice

Signed a definitive Agreement and Plan of Merger with Plantation Petroleum Holdings, LLC (a privately-owned E&P company) under which Maynard Oil's 4,880,368 shares would be cashed out at $17.00/share (~$83 million total) - above the price floated in the April 1 update, unanimously approved by both boards, with holders of about 56% of Maynard's stock already committed to vote in favor.

business combination

Alongside its FY2001 earnings release, disclosed that discussions with potential acquirors were continuing - but cautioned the proposals on the table valued the stock below its recent trading range, with no guarantee any sale would happen.

other material event

Announced it was exploring strategic alternatives, including a potential merger or sale of the company, and retained William Blair & Company as financial advisor and McDermott, Will & Emery as legal counsel.

other material event

FY2000 10-K405: a banner year - net income more than tripled to $14,103,000 ($2.89/share) on revenue of $52,739,000, as crude oil prices spiked through the year.

annual report

Closed the purchase of interests in ~170 producing properties in the Permian Basin (southeastern New Mexico/West Texas) from Questar Exploration and Production Company on November 12, 1999 for $32,000,000, funded entirely by a Bank One, Texas secured loan - the deal previewed in October.

asset acquisition disposition

Announced it had agreed to buy interests in 170 producing oil and gas properties in southeastern New Mexico and West Texas, estimated to add 1,000 net barrels/day of oil and 3,000 net mcf/day of gas, with the purchase scheduled to close November 15, 1999 - the seller was not yet named in this preliminary notice (identified as Questar Exploration and Production Company in the follow-up 8-K a month later).

other material event

Bought interests in 15 producing wells across Hardeman, Webb and Duval Counties, Texas at a Houston auction from Phillips Petroleum Company for $10,400,000 cash, funded entirely from the company's own accumulated funds - no new bank debt this time.

asset acquisition disposition

FY1998 10-K405: swung to a net loss of $7,816,000 (-$1.60/share) on revenue that fell to $16,166,000, as the 1998 global oil price collapse drove an $8,754,846 impairment charge against the company's proved oil and gas properties.

annual report

Sold its interests in ~130 producing wells across Texas and Oklahoma in three separate transactions during 1996 for combined cash of $8,043,657: to ROC Energy/Byrd Operating Company (Crockett County, TX, $1,380,000), to BMC Ltd./Chatham Oil Company/Javelina Energy (Grayson County, TX and Carter County, OK, $934,439), and to Enron Oil and Gas (Ellis, Roger Mills, Stephens and Woodward Counties, OK, $5,729,218) - a deliberate portfolio-rationalization program, not a distress sale.

asset acquisition disposition

Closed the purchase of interests in ~250 producing wells in the Garza Field (Garza County, Texas) from Energy Development Corporation for $18,750,000 ($5,750,000 cash plus a $13,000,000 Bank One, Texas secured loan) - the second major Permian-area acquisition in a year, taking total bank debt to $26.1 million.

asset acquisition disposition

Closed the purchase of interests in ~200 producing wells across seven West Texas counties from Pennzoil Exploration & Production Company for $10,500,000 ($1,000,000 cash plus a $9,500,000 Bank One, Texas secured loan).

asset acquisition disposition