U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CURRENT REPORT FORM 8-K Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 13, 2005 Commission File Number: 0-3912 PETROL INDUSTRIES, INC. ------------------------------------------------------ (Exact Name of Registrant as Specified in its Charter) NEVADA 75-1282449 ---------------------------- --------------------------------- (State or Other Jurisdiction (IRS Employer Identification No.) of Incorporation) 202 N. THOMAS, SUITE 4, SHREVEPORT, LA 71107-6539 - ---------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (318) 424-6396 NOT APPLICABLE -------------------------------------------------------------- (Former name or former address, if changed since last report.) 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)) Page 1 of 3 Item 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS On July 14, 2005, Petrol Industries, Inc. (the "Company") assigned the Lucille & Charles Horne Lease for consideration of $10,000 and assumption of debt for a total price of approximately $335,000. The assignment was transacted by a director to an entity represented by another director. Management does not know if it is a related-party transaction or if the indemnification is bonefide. The transaction will be booked in the third quarter with a reserve allowance for the debt and compliance issues. Item 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS Effective July 13, 2005, David A. Taylor resigned his positions of President and Secretary of the Company. Mr. Taylor has agreed to continue with the Company as a consultant or employee as to be established by the Board of Directors. As of this date, the Company has not appointed a replacement. Page 2 of 3 SIGNATURES ---------- 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 hereunto duly authorized. PETROL INDUSTRIES, INC. s/Arlys C. Milan Date: July 26, 2005 By:___________________________________ Arlys C. Milan Vice President Page 3 of 3