SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________________ to ________________
Commission file number 0-18886
HS RESOURCES, INC. 401(k) & PROFIT SHARING PLAN
(Full title of the plan)
HS RESOURCES, INC.
ONE MARITIME PLAZA
SAN FRANCISCO, CA 94111
(Name of issuer of the securities held
pursuant to the plan and the address of
its principal executive office)
HS RESOURCES, INC.
401(k) & PROFIT SHARING PLAN
Financial Statements and Supplemental Schedule
As Of December 31, 2000 And 1999
Together With Report Of Independent Public Accountants
HS RESOURCES, INC.
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401(k) & PROFIT SHARING PLAN
----------------------------
INDEX
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Page(s)
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REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS 1
FINANCIAL STATEMENTS:
Statements of Net Assets Available for Benefits
as of December 31, 2000 and 1999 2
Statement of Changes in Net Assets Available for Benefits
for the Year Ended December 31, 2000 3
NOTES TO FINANCIAL STATEMENTS 4-8
SUPPLEMENTAL SCHEDULE:
Schedule I - Schedule of Assets (Held at End of Year)
As of December 31, 2000 9-14
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Plan Administrator of the
HS Resources, Inc. 401(k) & Profit Sharing Plan:
We have audited the accompanying statements of net assets available for benefits
of the HS RESOURCES, INC. 401(k) & PROFIT SHARING PLAN (the "Plan") as of
December 31, 2000 and 1999, and the related statement of changes in net assets
available for benefits for the year ended December 31, 2000. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 2000 and 1999, and the changes in net assets available for benefits
for the year ended December 31, 2000 in conformity with accounting principles
generally accepted in the United States of America.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets (held
at end of year) as of December 31, 2000 is presented for the purpose of
additional analysis and is not a required part of the basic financial statements
but is supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. This supplemental schedule is the responsibility of the
Plan's management. The supplemental schedule has been subjected to the auditing
procedures applied in the audits of the basic financial statements and, in our
opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
/s/ ARTHUR ANDERSEN LLP
Denver, Colorado,
June 22, 2001.
- 1 -
HS RESOURCES, INC.
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401(k) & PROFIT SHARING PLAN
----------------------------
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
-----------------------------------------------
AS OF DECEMBER 31, 2000 AND 1999
--------------------------------
2000 1999
------------- --------------
INVESTMENTS (Notes 2 and 3):
Money market funds $ 629,287 $ 513,020
Mutual funds 8,902,069 7,292,769
Common/collective trust fund 310,333 471,721
HS Resources common stock 6,667,664 2,692,138
Common stock 1,095,222 661,622
Loans to participants 380,065 221,458
----------- -----------
Total investments 17,984,640 11,852,728
----------- -----------
OTHER ASSETS:
Non-interest bearing cash 77,808 56,368
----------- -----------
RECEIVABLES:
Employer contributions 1,903,907 1,422,712
Dividends 2,069 --
----------- -----------
Total receivables 1,905,976 1,422,712
----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $ 19,968,424 $ 13,331,808
=========== ===========
The accompanying notes to financial statements
are an integral part of these statements.
- 2 -
HS RESOURCES, INC.
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401(k) & PROFIT SHARING PLAN
----------------------------
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
---------------------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 2000
------------------------------------
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Investment income-
Interest, dividends and other income $ 594,890
Net appreciation in fair market value of investments (Note 3) 3,284,618
------------
Total investment income 3,879,508
------------
Contributions-
Employer 1,537,907
Employee 1,634,022
Rollover 353,882
------------
Total contributions 3,525,811
------------
Total additions 7,405,319
------------
DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
Distributions to participants 741,829
Administrative expenses 26,874
------------
Total deductions 768,703
------------
NET INCREASE 6,636,616
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of year 13,331,808
------------
End of year $ 19,968,424
============
The accompanying notes to financial statements
are an integral part of this statement.
- 3 -
HS RESOURCES, INC.
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401(k) & PROFIT SHARING PLAN
----------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
DECEMBER 31, 2000 AND 1999
--------------------------
1. DESCRIPTION OF PLAN:
-------------------
Effective July 1, 1990 and June 30, 1989, HS Resources, Inc. (the "Company")
established the HS Resources, Inc. Employee Investment 401(k) Plan (the "401(k)
Plan") and the HS Resources, Inc. Profit Sharing Plan (the "Profit Sharing
Plan"), respectively. The 401(k) Plan was amended and restated effective August
1, 1998. The amendment merged the Profit Sharing Plan into the 401(k) Plan and
changed the name of the 401(k) Plan to the HS Resources, Inc. 401(k) & Profit
Sharing Plan (the "Plan"). At this time the HS Resources, Inc. Master Trust,
which was established for the investment of assets of the 401(k) Plan and the
Profit Sharing Plan, was terminated.
The following description of the Plan provides only general information.
Participants and all others should refer to the Plan Agreement for a more
complete description of the Plan's provisions.
General
- -------
The Plan is a defined contribution plan covering all eligible employees of the
Company, which excludes collective bargaining employees, non-resident aliens who
receive no U.S. source income, leased employees and seasonal part-time employees
or temporary employees. There are no service or age eligibility requirements for
employee deferrals. For employer match contributions, employees must complete
one year of service as defined by the Plan, and be employed on the last day of
the Plan year. The Plan was established under the provisions of Section 401(a)
of the Internal Revenue Code ("IRC"), which includes a qualified deferred
arrangement as described in Section 401(k) of the IRC, for the benefit of
eligible employees of the Company. It is subject to the provisions of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA"). Benefits
under the Plan are not guaranteed by the Pension Benefit Guaranty Corporation.
Contributions
- -------------
Participants can contribute on a pre-tax basis, as permitted by Section 401(k)
of the IRC, an amount from 1% to 15% of their compensation, as defined by the
Plan, limited by the requirements of the IRC. Participants may also contribute
after-tax amounts from 1% to 5% of compensation to the Plan. Employees may
contribute rollover contributions from another qualified plan.
Each Plan year, the Company may, at its sole discretion, contribute a matching
contribution. Participants must be continuously employed from the first day to
the last day of the Plan year to be eligible to receive matching contributions.
For the Plan year ended December 31, 2000, the Company matched the following for
each participant: 100% of the pre-tax contributions for each participant up to
the first 10% of compensation deferred by the employee.
- 4 -
Each Plan year, the Company may, at its discretion, contribute an additional
profit sharing contribution and qualified non-elective contribution ("QNEC") to
the Plan. Allocations of profit sharing contributions are based on a uniform
percentage of each participant's pay, adjusted as allowed by law to reflect the
Company's payments to finance the participant's Social Security benefits. In
order to be eligible for a profit sharing contribution, a participant must be
employed on the last day of the Plan year or have completed at least three
months of service during the Plan year. Allocations of QNECs are made in the
proportion that a participant's compensation bears to the compensation of the
eligible non-highly compensated participants for the portion of the Plan year in
which they were participants. The Company did not make a profit sharing
contribution or QNEC for the Plan year ended December 31, 2000.
The annual additions under the Plan and all other plans sponsored by the Company
to each participant are limited to the lesser of 25% of eligible compensation or
$30,000. Annual additions are defined by the IRC.
Participant Accounts
- --------------------
Participant accounts are credited with participant elective contributions,
matching Company contributions, profit sharing contributions, QNEC
contributions, certain Plan expenses and Plan earnings or losses.
Investment Options
- ------------------
Effective August 1, 1998, participants were offered twelve investment options by
The Charles Schwab Trust Company ("Schwab") including a personal choice
investment account that allows participants to buy and sell from almost any
mutual fund or other public security available at Schwab. Company stock,
however, may not be traded in the personal choice investment account.
Effective April 14, 2000, two additional mutual funds, Janus Growth and Income
Fund and Vanguard Value Index Fund, were added as investment options.
Participants may invest their accounts in one or more funds in whole percent
increments. Participants may change the investment direction of their funds at
any time by calling the Schwab Voice Response System or through the Schwab
website.
Vesting
- -------
Participants are immediately and fully vested in their elective contributions,
Company matching contributions, and QNECs to the Plan.
Vesting in the Company profit sharing contribution is based on years of service.
This contribution shall be fully vested and non-forfeitable upon and after
attaining the Plan's normal retirement age (age 65), death, or disability, as
defined. If termination occurs for any reason other than these events, the
participant vests as follows:
Years of Service Vested Percentage
---------------- -----------------
Less than 2 years 0%
2 years 20%
3 years 40%
4 years 66 2/3%
5 years or more 100%
- 5 -
Forfeited non-vested account balances are added to the Company's profit sharing
contribution and allocated in the same manner or, if no profit sharing
contribution is made, allocated among all eligible participants as if such
forfeiture were a profit sharing contribution. As of December 31, 1999,
forfeited non-vested accounts totaled $6,287. As of December 31, 2000, forfeited
non-vested accounts totaled $9,414 and were allocated subsequent to year end.
Payments of Benefits
- --------------------
A participant's entire interest in the Plan is payable upon termination,
attaining normal retirement age (age 65), death, or disability, as defined.
Participants may also receive in-service distributions once they have reached
age 59 1/2 from any of their vested accounts, at any time from their after-tax
contributions account, and at any time from their matching contributions and
vested profit sharing contributions accounts that have been held in the Plan for
at least two years. Participant benefits are payable in a lump sum, installments
or a combination thereof. In addition, hardship distributions are permitted if
certain criteria are met.
All retired and/or terminated employees who requested payment for the years
ended December 31, 2000 and 1999 received full payment for their vested benefits
prior to year-end.
Participant Loans
- -----------------
In accordance with the Plan Agreement, participants may borrow funds from the
Plan in the form of a loan. Loans cannot exceed the lesser of $50,000 or 50% of
the participant's vested account and must be a minimum of $1,000. Loans are
secured by the participant's account and bear an interest rate equal to the
prime rate of interest as published in the Wall Street Journal plus 2%. Such
loans are evidenced by promissory notes. Participants may have a maximum of two
outstanding loans at any time.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
------------------------------------------
Basis of Accounting
- -------------------
The accompanying financial statements have been prepared using the accrual
method of accounting. The preparation of the financial statements in conformity
with accounting principles generally accepted in the United States of America
requires the Plan's management to use estimates and assumptions that affect the
financial statements and disclosures. Actual results could differ from these
estimates.
Investment Valuation
- --------------------
The Plan's investments are stated at fair value, which is determined by the
trustee based on current market prices. Participant loans are valued at cost,
which approximates fair value.
Purchases and sales of securities are recorded on a trade date basis.
The increase (decrease) in the fair value of investments held in the Plan are
reflected in the statement of changes in net assets available for benefits as
net appreciation in fair value of investments.
Collective Trust
- ----------------
The Schwab Stable Value Fund is a common/collective trust fund which invests in
a portfolio of insurance company contracts. These contracts are carried at cost
plus accrued interest, which approximates fair value. The investment in the
common/collective trust fund in the accompanying
- 6 -
financial statements is valued at fair value as revalued daily. Interest rates
earned on the investment change daily. The crediting interest rates of the
underlying insurance company contracts as of December 31, 2000 ranged from 5.48%
to 7.72%. The crediting interest rate as of December 31, 1999 was 6.1%. The
average yield for the year ended December 31, 2000 was 6.4%.
Payment of Benefits
- -------------------
Benefits are recorded when paid.
Plan Expenses
- -------------
The Plan pays all trustee and custodial fees as shown in the accompanying
financial statements. The Company pays all other costs and expenses of
maintaining the Plan.
Reclassifications
- -----------------
Certain amounts in the December 31, 1999 financial statements have been
reclassified to conform with the current year presentation.
3. INVESTMENTS:
-----------
The following presents investments that exceed 5% of net assets available for
benefits as of December 31, 2000 and 1999:
2000
--------------------------
Face
Value or
Number of Fair
Units Value
----------- ----------
T. Rowe Price Small-Cap Stock Mutual Fund 62,379 $1,488,979
Vanguard Index 500 Mutual Fund 19,687 2,399,105
Vanguard Windsor II Mutual Fund 58,675 1,595,948
HS Resources Common Stock 157,349 6,667,664
1999
--------------------------
Face
Value or
Number of Fair
Units Value
----------- ----------
T. Rowe Price Small-Cap Stock Mutual Fund 45,281 $1,032,399
Vanguard Index 500 Mutual Fund 12,989 1,757,809
Vanguard Wellington Mutual Fund 25,328 708,160
Vanguard Windsor II Mutual Fund 82,690 2,064,756
HS Resources Common Stock 156,066 2,692,138
- 7 -
During 2000, the Plan's investments (including gains and losses on investments
bought and sold, as well as held during the year) appreciated (depreciated) in
value as follows:
Mutual funds $ (400,132)
Common/collective trust fund 16,027
HS Resources Common Stock 4,119,607
Common stock (450,884)
-----------
$ 3,284,618
===========
4. INCOME TAXES:
------------
The Internal Revenue Service ("IRS") has determined and informed the Company by
a letter dated March 28, 1991, that the Plan and related trust are designed in
accordance with the applicable sections of the IRC. The Plan has been amended
and restated since receiving the determination letter; however, the Plan
Administrator believes that the Plan is currently designed and being operated in
compliance with the applicable requirements of the IRC. Therefore, the Plan
Administrator believes that the Plan was qualified and the related trust was
tax-exempt as of the financial statement dates.
5. PLAN TERMINATION:
----------------
Although it has not expressed any intent to do so, the Company has the right to
terminate the Plan and dispose of the net assets in accordance with the
provisions of ERISA.
6. RELATED PARTY TRANSACTIONS:
--------------------------
Certain Plan investments are shares and/or units of mutual funds,
common/collective trust funds, and money market funds managed by Schwab. Certain
Plan investments are also shares of the Company's common stock. Therefore, these
transactions qualify as party-in-interest transactions.
7. RISKS AND UNCERTAINTIES:
-----------------------
The Plan provides for various investments in mutual funds, common/collective
trust funds, money market funds, common stock, and Company common stock.
Investments in general, are subject to various risks, such as interest rate,
credit, and overall market volatility risk. Due to the level of risk associated
with certain investments, including the Company's common stock, it is reasonably
possible that changes in the value of investments will occur in the near term.
8. SUBSEQUENT EVENTS:
-----------------
On May 14, 2001, HS Resources, Inc. announced that it entered into a definitive
merger agreement to be acquired by Kerr-McGee Corporation ("Kerr-McGee") in a
merger of the two companies. The agreement was unanimously approved by both the
HS and Kerr-McGee boards of directors and is subject only to customary
conditions, including approval by HS shareholders and appropriate regulatory
bodies. The Company's shareholders will have the opportunity to elect to receive
either cash or stock, subject to proration, so that 70% of the total Company
shares are acquired for $66 in cash and 30% are acquired in exchange for 0.9404
shares of Kerr-McGee stock. The effect this merger will have on the Plan has not
yet been determined.
- 8 -
SCHEDULE I
Page 1 of 6
HS RESOURCES, INC.
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401(k) & PROFIT SHARING PLAN
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SCHEDULE OF ASSETS (HELD AT END OF YEAR)
----------------------------------------
AS OF DECEMBER 31, 2000
-----------------------
Identity of Issue, Number of
Borrower, Lessor or Shares or Current
Similar Party Description of Investments Principal Value Value
- ------------------------ -------------------------------------------- ----------------- -----------
The Charles Schwab
Trust Company: Money Market Funds:
Stock Liquidity 1,681 $ 1,681
*Schwab Value Advantage Fund 271,270 271,270
*Schwab Money Market Fund 305,407 305,407
*Schwab Value Advantage Money Fund 50,929 50,929
----------
Total money market funds 629,287
----------
Common/Collective Trust Fund:
*Schwab Stable Value Fund 24,169 310,333
----------
Mutual Funds:
American AAdvantage International Equity 25,345 437,716
DFA US Small Cap 6-10 Value 20,138 370,944
Janus Growth & Income 14,676 518,808
Oakmark International Fund 23,856 368,821
PIMCO Total Return Fund 39,659 412,061
T. Rowe Price Small-Cap Stock 62,379 1,488,979
Vanguard Index 500 19,687 2,399,105
Vanguard Value Index 1,915 43,791
Vanguard Wellington 23,876 673,532
Vanguard Windsor II Fund 58,675 1,595,948
American Century International 7,687 100,620
American Century Life Sciences Fund 729 3,967
Dresdner RCM Biotech Fund 218 7,930
Dresdner RCM Global Health Care Class N 194 4,784
Dresdner RCM Global Small Cap 140 2,600
Dreyfus Premier Tech Growth Class A 103 3,951
Firsthand Tech Leaders Fund 114 3,857
Firsthand Technology Value Fund 150 11,131
FMI Focus Fund 661 19,046
Fremont Bond Fund 257 2,558
Gabelli Global Growth Fund 111 2,261
*Represents a party-in-interest (Note 6).
- 9 -
SCHEDULE I
Page 2 of 6
HS RESOURCES, INC.
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401(k) & PROFIT SHARING PLAN
----------------------------
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
----------------------------------------
AS OF DECEMBER 31, 2000
-----------------------
Identity of Issue, Number of
Borrower, Lessor or Shares or Current
Similar Party Description of Investments Principal Value Value
- ------------------------ -------------------------------------------- ----------------- -----------
The Charles Schwab Gabelli Growth Fund 46 $ 1,755
Trust Company: Icon Energy Fund 282 3,923
Invesco Strategic Energy Portfolio 561 11,710
IPS Millennium Fund Class A 32 1,648
Janus Enterprise Fund 375 19,950
Janus Global Life Science Fund 669 14,354
Janus Global Technology Fund 308 6,219
Janus Mercury Fund 583 17,289
Janus Olympus Fund 84 3,462
Janus Special Situations Fund 1,064 18,817
Janus Strategic Value Fund 185 1,943
Janus Twenty Fund 306 16,790
Janus Worldwide Fund 239 13,579
Managers U.S. Stock Market Plus Fund 4,578 58,873
Marsico Focus Fund 567 9,774
Meridian Value Fund 91 2,641
Pax World Fund Inc. 137 3,075
PBHG Technology & Communications Fund 5 156
PIN Oak Aggressive Stock 88 4,091
Red Oak Technology 202 4,408
Rockland Small Cap Growth Fund 2,081 43,099
Rydex OTC Fund 779 13,175
*Schwab Marketmanager Balanced 310 3,548
*Schwab Marketmanager International 114 1,523
*Schwab 1000 Equity Fund 68 2,499
Selected American Shares 29 1,037
Strong Conservative Equity Fund 196 3,247
Strong Advisor Small Cap Value Class Z 125 2,145
Strong Technology 100 Fund 2,662 21,404
Third Avenue Value Fund 896 32,457
UAM Clipper Focus Port Institutional Class 173 2,686
Van Kampen Emerging Growth Fund Class A 27 1,704
Van Wagoner Technology Fund 152 6,358
*Represents a party-in-interest (Note 6).
- 10 -
SCHEDULE I
Page 3 of 6
HS RESOURCES, INC.
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401(k) & PROFIT SHARING PLAN
----------------------------
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
----------------------------------------
AS OF DECEMBER 31, 2000
-----------------------
Identity of Issue, Number of
Borrower, Lessor or Shares or Current
Similar Party Description of Investments Principal Value Value
- ------------------------ -------------------------------------------- ----------------- -----------
The Charles Schwab Vanguard Growth Index Fund 525 $ 16,055
Trust Company: Warburg Pincus Cap Appreciation Fund 545 12,883
Warburg Pincus Global Post Venture 245 5,571
Warburg Pincus Japan Growth Fund Inc. 280 1,951
Warburg Pincus Japan Small Company 756 1,685
Wasatch Small Cap Value Fund 839 2,643
Weitz Hickory Portfolio 242 6,668
White Oak Growth Stock 521 32,864
----------
Total mutual funds 8,902,069
----------
* HS Resources Common Stock 157,349 6,667,664
----------
Common Stock:
AT&T Corp. 500 8,625
Adobe Systems, Inc. 80 4,655
Advanced Micro Devices 2,335 32,252
American Express Co. 200 10,988
Anadarko Petroleum Corp. 70 4,976
AOL Time Warner 200 6,960
Applied Materials, Inc. 500 19,094
Applied Micro Circuits 300 22,514
Arch Wireless, Inc. 4 3
Avaya, Inc. 45 464
Avista Corp. 30 615
Ballard Power Systems F 30 1,895
Barnesandnoble.com, Inc. Class A 100 131
Berkshire Hathaway Class B 1 2,354
Cabletron Systems 200 3,013
Carematrix 25 5
Cisco System, Inc. 433 16,562
Citrix Systems 200 4,500
* Represents a party-in-interest (Note 6).
- 11 -
SCHEDULE I
Page 4 of 6
HS RESOURCES, INC.
------------------
401(k) & PROFIT SHARING PLAN
----------------------------
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
----------------------------------------
AS OF DECEMBER 31, 2000
-----------------------
Identity of Issue, Number of
Borrower, Lessor or Shares or Current
Similar Party Description of Investments Principal Value Value
- ------------------------ -------------------------------------------- ----------------- -----------
The Charles Schwab Communication Intelligence Corp. New 650 $ 670
Trust Company: Corixa Corp. 401 11,178
Corning, Inc. 300 15,844
Cuseeme Networks, Inc. 300 300
Cypress Semiconductor Corp. 300 5,906
Digital Armor, Inc. 1,000 1
Direct Focus, Inc. 100 3,356
EMC Corp. 600 39,900
Eagle Geophysical, Inc. 2,200 9
Electronics For Imaging 300 4,181
Extreme Networks, Inc. 300 11,738
F5 Networks, Inc. 100 950
GSI Lumonics, Inc. 1,000 8,000
General Electric Company 900 43,144
Global Crossing LTD 400 5,725
Headhunter.net, Inc. 96 684
Helmerich & Payne, Inc. 1,600 70,219
Heska Corp. 600 413
Impath, Inc. 300 19,950
Infonow Corp. New 250 352
Inprise Corp. 100 553
Intel Corp. 1,040 31,267
Iomega Corp. 120 402
Isonics Corp. 200 275
JDS Uniphase Corporation 362 15,091
Level 3 Communications Inc. 30 984
Lucent Technologies Inc. 561 7,574
Mcleod USA Class A 500 7,062
Medimmune, Inc. 500 23,844
Merck & Co, Inc. 100 9,362
Meridian Resource Corp. 500 4,312
Micron Technology, Inc. 700 24,850
Microsoft Corp. 449 19,475
- 12 -
SCHEDULE I
Page 5 of 6
HS RESOURCES, INC.
------------------
401(k) & PROFIT SHARING PLAN
----------------------------
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
----------------------------------------
AS OF DECEMBER 31, 2000
-----------------------
Identity of Issue, Number of
Borrower, Lessor or Shares or Current
Similar Party Description of Investments Principal Value Value
- ------------------------ -------------------------------------------- ----------------- -----------
The Charles Schwab Mortgage.com, Inc. 200 $ 3
Trust Company: NanoPierce Technologies 100 81
Neoware Systems 250 266
Net2phone, Inc. 300 2,212
New Era of Networks, Inc. 1,194 7,015
Nokia ADR 860 37,410
Ocean Energy, Inc. New 1,000 17,375
Park Electrochemical Corp. 300 9,206
Patina Oil & Gas Corp. 1,000 24,000
Peace Arch Entertainment Class B 1,500 2,906
Philips Electronics NV ADR 682 24,723
Plantronics, Inc. 450 21,150
Plug Power, Inc. 10 147
Prize Energy Corp. 3,000 62,250
PYR Energy Corp. 1,225 10,642
Qualcomm, Inc. 3 247
Rambus, Inc. 40 1,445
Research Frontiers, Inc. 2,700 47,250
RSL Communications A 1,100 187
Savvis Communications Corp. 1,000 875
Shuffle Master, Inc. 1,200 19,050
Spinnaker Exploration Co. 250 10,625
Sprint PCS Group 90 1,839
Starbase Corp. New 700 1,641
Sun Microsystems, Inc. 1,500 41,812
Superconductor Technologies 100 362
Tegal Corp. 200 325
Texas Instruments, Inc. 400 18,962
Titan Corp. 600 9,750
Tollgrade Communications, Inc. 250 9,125
Tri Valley Corp. 1,250 2,031
Triquint Semiconductor 100 4,369
Tyco International 1,401 77,742
Tycom 1,900 42,512
Universal Display Corp. 200 1,437
- 13 -
SCHEDULE I
Page 6 of 6
HS RESOURCES, INC.
------------------
401(k) & PROFIT SHARING PLAN
----------------------------
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
----------------------------------------
AS OF DECEMBER 31, 2000
-----------------------
Identity of Issue, Number of
Borrower, Lessor or Shares or Current
Similar Party Description of Investments Principal Value Value
- ------------------------ -------------------------------------------- ----------------- -----------
The Charles Schwab Verizon Communications 125 $ 6,266
Trust Company: Verticalnet, Inc. 1,000 6,656
Vishay Intertechnology 300 4,538
Wal-Mart Stores, Inc. 200 10,625
Williams Co., Inc. 101 4,037
Williams Communications Group 2,000 23,500
Winstar Communications, Inc. 45 526
Xerox Corp. 200 925
----------
Total common stock 1,095,222
----------
Participant loans - interest rates
ranging from 9.0% - 11.50% 380,065
----------
Total investments $17,984,640
==========
- 14 -
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, HS
Resources, Inc. (as Plan Administrator) has duly caused this annual report to be
signed on its behalf by the undersigned thereunto duly authorized.
HS RESOURCES, INC. 401(k) & PROFIT SHARING PLAN
By: HS RESOURCES, INC.,
Plan Administrator
By: /s/ ANNETTE M. MONTOYA
--------------------------------------------
Name: Annette M. Montoya
Title: Vice President-Human Resources,
Accounting & Administration
DATED: June 22, 2001
EXHIBIT INDEX
Exhibit
Number Description of Exhibits
- ------- -----------------------
23.1 Consent of Independent Public Accountants