SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 13, 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 ITEMS
DECEMBER 13, 2000 - HOUSTON, TEXAS - FORTUNE NATURAL RESOURCES CORPORATION
(NASDAQ OTC BB SYMBOL: FPXA) has acquired additional interests in its Espiritu
Santo Bay project in two separate acquisitions.
In one acquisition, Fairfield Resources Corporation, one of the original
working interest owners in the Espiritu Santo Bay area, has elected to sell its
interest to the remaining partners. Fortune's share of this acquisition is
approximately 2.4%.
In the second acquisition, the working interest owners have entered into an
agreement to reacquire the interest originally farmed out to, and subsequently
earned by, McMoRan Oil and Gas, LLC. Fortune will receive its full working
interest in the entire portion of Espiritu Santo Bay originally farmed out in
addition to an approximate 0.6% working interest representing Fortune's pro-rata
share attributed to the Company's acquisition of its share of Fairfield's
interest in the McMoRan farmout acreage.
As a result of these two transactions, Fortune has increased its interest in
the Grass Island area to an approximate 8% working interest and to an
approximate 15% working interest in the balance of the 166-square mile Espiritu
Santo Bay area of mutual interest.
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
Fortune will be successful in meeting its expectations.
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Company Contact: Angela R. McLane
Asst. to the President and CEO
(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: December 13, 2000
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