| | UNITED STATES | OMB APPROVAL |
| | SECURITIES AND EXCHANGE COMMISSION | OMB Number: 3235-0058 |
| | | Expires: May 31, 2009 |
| | Washington, D.C. 20549 | Estimated average burden |
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| | FORM 12b-25 | |
| | | SEC FILE NUMBER |
| | | 000-52590 |
| | NOTIFICATION OF LATE FILING | |
| | | CUSIP NUMBER |
| | | 70423P 10 6 |
| | (Check One): ¨ Form 10-K o Form 20-F o Form 11-K xForm 10-Q o Form 10-D o Form N-SAR o Form N-CSR |
For Period Ended: March 31, 2009
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:__________________________________________________________________________________________
Read Instruction (on back page) 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
Former Name if Applicable
2533 North Carson Street, Suite 6232 |
Address of Principal Executive Office (Street and Number)
City, State and Zip Code
PART II -- RULES 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 reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
x | (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or subject distribution report on Form 10-D, 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 Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
Our quarterly report on form 10-Q could not be filed because management requires additional time to compile and verify the data required to be included in the report.
PART IV -- OTHER INFORMATION
| (1) | Name and telephone number of person to contact in regard to this notification |
| Robert Freiheit | | 775 | | 841-5049 |
| (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 answer is no, identify report(s). |
x Yes¨ No
| (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.
Oil and gas revenues for the year ended March 31, 2009, are expected to be approximately $1,500, compared to $16,791 for the quarter ended March 31, 2008. Loss from operations is expected to be approximately $44,000 and net loss is expected to be approximately $80,000 for the quarter ended March 31, 2009, compared to loss from operations of $76,495 and net loss of $91,229 for the quarter ended March 31, 2008. The decrease in revenues was principally due to the decrease in production for the quarter compared to the prior year for the Cooke No. 3 well. The decreases in loss from operations and net loss are principally due to a decrease in general and administrative expense, offset by the effects of decreased production and an increase in interest expense.
| Paxton Energy, Inc. |
| (Name of Registrant as Specified in Charter) |
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | May 15, 2009 | By | /s/ Robert Freiheit |
| | | | Robert Freiheit, President, Chief Executive Officer, and Chief Financial Officer |
