SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 19, 2000
FORTUNE NATURAL RESOURCES CORPORATION
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(Exact name of Registrant as specified in its charter)
Delaware 1-12334 95-4114732
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
515 W. Greens Road, Suite 720, Houston, Texas 77067
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (281) 872-1170
Registrant's telecopier number, including area code: (281) 872-1213
N/A
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
JUNE 19, 2000 - HOUSTON, TEXAS - FORTUNE NATURAL RESOURCES CORPORATION
(NASDAQ OTC BB SYMBOL: FPXA) today announced that it has been advised that
testing of its Grass Island 210-#6 well has concluded. Although the frio sands
tested did flow natural gas intermittently, the sands were tight and lacked
sufficient permeability to produce at consistent economic rates. It is believed
that permeability may improve significantly on the structure's flanks.
Therefore, Fortune is very encouraged that it found hydrocarbons in these frio
sands and believes that this discovery has positive implications on future wells
on the Grass Island Deep prospect and on its other prospects elsewhere in
Espiritu Santo Bay. The well will be abandoned in the frio zones. The estimated
total cost to Fortune for the completion, testing and abandonment is expected to
be $73,000.
FORTUNE NATURAL RESOURCES CORPORATION is an independent oil and gas
exploration and production company with its principal properties located onshore
and offshore Louisiana and Texas. Certain statements in this news release
regarding future expectations and plans may be regarded as "forward looking
statements" within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. They are subject to various
risks, such as operating hazards, drilling risks, and other uncertainties
inherent in the business of exploring for, developing and producing oil and gas
which may be beyond the Company's control. For a discussion of the contingencies
and uncertainties affecting future events and forward-looking statements, see
Fortune's most recent Annual Report on Form 10-KSB/A, as well as other filings
with the Securities and Exchange Commission. There can be no assurance that the
Company will be successful in meeting its expectations.
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Company Contact: Angela McLane
(281) 872-1170
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
None.
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SIGNATURE
Pursuant to the requirements 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.
FORTUNE NATURAL RESOURCES CORPORATION
By: /s/ Dean W. Drulias
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Dean W. Drulias
Executive Vice President and General Counsel
Date: June 19, 2000