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 Earliest Event Reported: May 5, 1998


                    TAURUS ENTERTAINMENT COMPANIES, INC.
         (Exact name of registrant as specified in its charter)
                     formerly, Taurus Petroleum, Inc.


     Colorado                         0-8835                      84-0736215
(State or other jurisdiction   (Commission File Number)      (IRS Employer
of incorporation or organization)                          Identification No.)


                           16770 Hedgecroft, Suite 714
                              Houston, Texas 77060
         (Address of principal executive offices, including zip code)
                                (713) 820-1181
             (Registrant's telephone number, including area code)








Item 5.  Other Events

On May 5, 1998, a fire damaged one of the Company's adult entertainment 
facilities known as Broadstreets Cabaret ("Broadstreets") located near the 
George Bush Intercontinental Airport in Houston, Texas.  While it is unknown 
how long remodeling will take, the Company anticipates that Broadstreets will 
remain closed for at least approximately 60 to 90 days during which time the 
Company plans to remodel Broadstreets.  The Company believes that it has 
adequate insurance to cover any property damage.  However, the Company does 
not maintain business interruption insurance.  Thus, the Company anticipates 
a reduction in company-wide revenues due to the loss of revenue from 
Broadstreets while it undergoes remodeling. The Company believes this event 
will result in a material decline in revenues during the closure of  
Broadstreets and until Broadstreets reopens and re-establishes its business.


                               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.


                                     TAURUS ENTERTAINMENT COMPANIES, INC.



Date: May 8, 1998                  By:         /s/ Eric Langan  
                                      _____________________________________
                                      Eric Langan, Chairman of the Board



 

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