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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-Q
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For Quarter ended March 31, 2001 Commission file number 0-5426
THE WISER OIL COMPANY
A DELAWARE CORPORATION
I.R.S. Employer Identification No. 55-0522128
8115 Preston Road, Suite 400
Dallas, Texas 75225
Telephone (214) 265-0080
Former name, former address and former fiscal year, if changed since last
report. NONE
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months, and (2) has been subject to such filing requirements
for the past 90 days.
X
----- -----
Yes No
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the close of the period covered by this report.
Class Outstanding at March 31, 2001
-------------- -----------------------------
$.01 par value 9,161,133
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The Wiser Oil Company
THE WISER OIL COMPANY
PART I
FINANCIAL INFORMATION
Item 1. Financial Statements
The consolidated condensed financial statements included herein have been
prepared by the Company, without audit, pursuant to the rules and regulations of
the Securities and Exchange Commission. The financial statements reflect all
adjustments which are, in the opinion of management, necessary to fairly present
such information. Although the Company believes that the disclosures are
adequate to make the information presented not misleading, certain information
and footnote disclosures, including significant accounting policies, normally
included in financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted pursuant to such rules and
regulations. It is suggested that these condensed financial statements be read
in conjunction with the financial statements and the notes thereto included in
the Company's latest annual report on Form 10-K.
2
The Wiser Oil Company
THE WISER OIL COMPANY
CONSOLIDATED BALANCE SHEETS
(Unaudited)
March 31, December 31,
2001 2000
--------- ------------
(000's) except share data
Assets
Current Assets:
Cash and cash equivalents....................................... $ 37,511 $ 34,144
Restricted cash................................................. 3,974 992
Accounts receivable............................................. 13,250 16,621
Inventories..................................................... 417 420
Fair value of derivatives....................................... 617 --
Prepaid expenses................................................ 1,978 426
--------- ------------
Total current assets........................................ 57,747 52,603
--------- ------------
Property and Equipment, at cost:
Oil and gas properties (successful efforts method).............. 287,370 284,615
Other properties................................................ 3,933 3,964
--------- ------------
291,303 288,579
Accumulated depreciation, depletion and amortization............ (132,757) (128,211)
--------- ------------
Net property and equipment...................................... 158,546 160,368
Other Assets..................................................... 3,185 3,342
--------- ------------
$ 219,478 $ 216,313
========= ============
Liabilities and Stockholders' Equity
Current Liabilities:
Accounts payable................................................ $ 8,207 $ 14,310
Current portion of long-term debt............................... 500 500
Dividends payable............................................... -- 265
Fair value of derivatives....................................... 430 --
Accrued liabilities............................................. 4,891 2,357
--------- ------------
Total current liabilities..................................... 14,028 17,432
--------- ------------
Long-term Debt................................................... 124,618 124,600
Stockholders' Equity:
Series C convertible preferred stock - $10 par value;
1,000,000 shares authorized; 600,000 shares issued and outstanding
at $25 liquidation value per share............................. 6,000 6,000
Common stock - $.01 par value; 30,000,000 shares authorized;
shares issued - 9,337,337 at March 31, 2001 and 9,209,113
at December 31, 2000; shares outstanding - 9,161,133 at
March 31, 2001 and 9,032,909 at December 31, 2000.............. 93 92
Paid-in capital................................................. 39,117 38,568
Retained earnings............................................... 37,558 31,721
Accumulated other comprehensive income.......................... 793 629
Treasury stock; 176,204 shares, at cost......................... (2,729) (2,729)
--------- ------------
Total stockholders' equity.................................... 80,832 74,281
--------- ------------
$ 219,478 $ 216,313
========= ============
The notes to financial statements included in the Company's Annual Report
on Form 10-K for the year ended December 31, 2000 are an integral part of
these financial statements.
3
The Wiser Oil Company
THE WISER OIL COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
For the Three Months
Ended March 31,
------------------
2001 2000
------- -------
(000's except per share data)
Revenues:
Oil and gas sales......................... $23,829 $14,678
Interest income........................... 540 297
Other..................................... 130 190
------- -------
24,499 15,165
------- -------
Costs and Expenses:
Production and operating.................. 6,890 5,279
Depreciation, depletion and amortization.. 4,191 3,802
Exploration............................... 2,246 1,456
General and administrative................ 1,918 1,702
Interest expense.......................... 3,158 3,168
------- -------
18,403 15,407
------- -------
Earnings (Loss) Before Income Taxes.......... 6,096 (242)
------- -------
Net Income (Loss)............................ 6,096 (242)
Preferred Stock Dividends.................... (259) --
------- -------
Net Income (Loss) Available to Common Stock.. $ 5,837 $ (242)
======= =======
Weighted Average Outstanding Shares:
Basic....................................... 9,081 8,952
======= =======
Diluted..................................... 12,753 8,952
======= =======
Earnings (Loss) Per Share:
Basic...................................... $ 0.64 $ (0.03)
======= =======
Diluted.................................... $ 0.48 $ (0.03)
======= =======
The notes to financial statements included in the Company's Annual Report
on Form 10-K for the year ended December 31, 2000 are an integral part of
these financial statements.
4
The Wiser Oil Company
THE WISER OIL COMPANY
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
For the Three Months Ended March 31, 2001
Shares Amount
------ --------
Series C convertible preferred stock, (000's)
- -------------------------------------
$10.00 par value
----------------
Balance at beginning and end of period.................. 600 $ 6,000
===== --------
Common stock, $0.01 par value:
- ------------------------------
Balance at beginning of period.......................... 9,209 92
Issuance of common stock................................ 128 1
----- --------
Balance at end of period................................ 9,337 93
----- --------
Paid-in capital:
- ----------------
Balance at beginning of period.......................... 38,568
Issuance of common stock................................ 549
--------
Balance at end of period................................ 39,117
--------
Retained earnings:
- ------------------
Balance at beginning of period.......................... 31,721
Net income.............................................. 6,096
Dividends on preferred stock............................ (259)
--------
Balance at end of period................................ 37,558
--------
Accumulated other comprehensive income:
- ---------------------------------------
Balance at beginning of period.......................... 629
Foreign currency translation
adjustment............................................ (23)
Net change in derivative fair value:
Cumulative effect of accounting change................. (3,083)
Change in derivative fair value........................ 1,704
Reclassification adjustments - contract settlements.... 1,566
--------
Balance at end of period................................ 793
--------
Treasury stock:
- ---------------
Balance at beginning and end of period.................. (176) (2,729)
----- --------
Total Stockholders' Equity............................... 9,161 $80,832
===== ========
Net income............................................... $ 6,096
Foreign currency translation
adjustment............................................ (23)
Net change in derivative fair value:
Cumulative effect of accounting change................. (3,083)
Change in derivative fair value........................ 1,704
Reclassification adjustments - contract settlements 1,566
--------
Comprehensive Income..................................... $ 6,260
========
The notes to financial statements included in the Company's Annual Report
on Form 10-K for the year ended December 31, 2000 are an integral part of
these financial statements.
5
The Wiser Oil Company
THE WISER OIL COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
For the Three Months
Ended March 31,
--------------------
2001 2000
-------- --------
(000's)
Cash Flows From Operating Activities:
Net Income (Loss)............................................. $ 6,096 $ (242)
Adjustments to reconcile net income to operating cash flows:
Depreciation, depletion and amortization.................... 4,191 3,802
Property sales gains........................................ -- (11)
Foreign currency translation................................ (23) 3
Property impairments and abandonments....................... 962 151
Amortization of other assets................................ 169 169
Other Changes:
Restricted cash........................................... (2,982) (2,983)
Accounts receivable....................................... 3,371 (1,469)
Inventories............................................... 3 (1)
Prepaid expenses.......................................... (1,552) (546)
Other assets.............................................. 7 (252)
Accounts payable.......................................... (6,103) (598)
Accrued liabilities....................................... 2,534 2,713
Deferred benefits cost.................................... -- (14)
-------- --------
Operating Cash Flows................................... 6,673 722
-------- --------
Cash Flows From Investing Activities:
Capital expenditures.......................................... (3,331) (6,671)
Proceeds from sales of property and equipment................. -- 11
-------- --------
Investing Cash Flows................................... (3,331) (6,660)
-------- --------
Cash Flows From Financing Activities:
Common stock issued........................................... 25 --
-------- --------
Investing Cash Flows................................... 25 --
-------- --------
Net Increase (Decrease) In Cash.................................. 3,367 (5,938)
Cash and Cash Equivalents, beginning of period................... 34,144 21,447
-------- --------
Cash and Cash Equivalents, end of period......................... $37,511 $15,509
======== ========
The notes to financial statements included in the Company's Annual Report
on Form 10-K for the year ended December 31, 2000 are an integral part of
these financial statements.
6
The Wiser Oil Company
THE WISER OIL COMPANY
Notes to Financial Statements
Note 1. Hedging Activities
As of May 14, 2001 the Company's hedging arrangements were as follows:
Crude Oil: Daily Volume Price per Bbl
---------- --------------- ----------------------------
April 1, 2001 to June 30, 2001 1,750 Bbls $28.10
July 1, 2001 to September 30, 2001 1,750 Bbls $28.63
April 1, 2001 to June 30, 2001 1,000 Bbls (1) $25.00 floor, $32.00 ceiling
July 1, 2001 to September 30, 2001 1,000 Bbls (1) $25.00 floor, $30.46 ceiling
October 1, 2001 to December 31, 2001 1,000 Bbls (1) $25.00 floor, $30.41 ceiling
Natural Gas: Daily Volume Price per MMBTU
------------ --------------- ----------------------------
April 1, 2001 to December 31, 2001 10,000 MMBTU (1) $4.00 floor, $6.10 ceiling
(1) These are "collar" hedges whereby the Company will receive the actual
market price if the actual market price is between the floor price and
the ceiling price. If the actual market price is below or above the
floor or ceiling prices, the price received by the Company will be
limited to the floor price or ceiling price, respectively.
During the first quarter of 2001, oil and gas sales were reduced $1.6
million from the Company's hedging activities. Based on March 31, 2001 NYMEX
futures prices, the fair value of the Company's hedging arrangements at March
31, 2001 was a gain of $0.2 million. A 10% increase in both the oil price and
the gas price would increase this loss by $1.6 million and a 10% decrease in
both the oil price and the gas price would decrease this loss by $1.5 million.
Note 2. Summary of Guaranties of 9 1/2% Senior Subordinated Notes
In May 1997, the Company issued $125 million aggregate principal amount of
its 9 1/2% Senior Subordinated Notes due 2007 pursuant to an offering exempt
from registration under the Securities Act of 1933. The notes are unsecured
obligations of the Company, subordinated in right of payment to all existing and
any future senior indebtedness of the Company. The notes rank pari passu with
any future senior subordinated indebtedness and senior to any future junior
subordinated indebtedness of the Company. The notes are fully and
unconditionally guaranteed, jointly and severally, on an unsecured, senior
subordinated basis by certain wholly owned subsidiaries of the Company (the
"Subsidiary Guarantors"). At the time of the initial issuance of the notes,
Wiser Oil Delaware, Inc., The Wiser Marketing Company, Wiser Delaware LLC,
T.W.O.C., Inc. and The Wiser Oil Company of Canada were the Subsidiary
Guarantors (the "Initial Subsidiary Guarantors"). Except for five wholly owned
subsidiaries that are inconsequential to the Company on a consolidated basis,
the Initial Subsidiary Guarantors comprise all of the Company's direct and
indirect subsidiaries.
Sections 13 and 15(d) of the Securities Exchange Act of 1934 require
presentation of the following unaudited summarized financial information of the
Subsidiary Guarantors. The Company has not presented separate financial
statements and other disclosures concerning each Subsidiary Guarantor because
management has determined that they are not material to investors. There are no
significant contractual restrictions on distributions from each of the
Subsidiary Guarantors to the Company.
7
The Wiser Oil Company
THE WISER OIL COMPANY
Notes to Financial Statements (continued)
Condensed Income Statement for the Wiser Oil Subsidiary Consolidation
Quarter Ended March 31, 2001 (Parent) Guarantors Adjustments Total
---------- ----------- ------------- ---------
(000's)
Revenues:
Oil and gas sales $16,646 $7,183 $ - $23,829
Other 357 313 - 670
------- ------ ------ -------
Total revenues 17,003 7,496 - 24,499
------- ------ ------ -------
Costs and Expenses:
Production and operating 5,865 1,025 - 6,890
DD&A and impairments 2,517 1,674 - 4,191
Exploration 1,664 582 - 2,246
General and administrative 1,421 497 - 1,918
Interest expense 3,158 - - 3,158
------- ------ ------ -------
Total Expenses 14,625 3,778 - 18,403
------- ------ ------ -------
Income (Loss) Before Taxes 2,378 3,718 - 6,096
------- ------ ------ -------
Net Income (Loss) $ 2,378 $3,718 $ - $ 6,096
======= ====== ====== =======
Condensed Income Statement for the
Quarter Ended March 31, 2000
Revenues:
Oil and gas sales $ 9,413 $5,265 $ - $14,678
Other 458 29 - 487
------- ------ ------ -------
Total revenues 9,871 5,294 - 15,165
------- ------ ------ -------
Costs and Expenses:
Production and operating 4,374 905 - 5,279
DD&A and impairments 2,328 1,474 - 3,802
Exploration 109 1,347 - 1,456
General and administrative 1,315 387 - 1,702
Interest expense 3,168 - - 3,168
------- ------ ------ -------
Total Expenses 11,294 4,113 - 15,407
------- ------ ------ -------
Income (Loss) Before Taxes (1,423) 1,181 - (242)
------- ------ ------ -------
Net Income (Loss) $(1,423) $1,181 $ - $ (242)
======= ====== ====== =======
8
The Wiser Oil Company
THE WISER OIL COMPANY
Notes to Financial Statements (continued)
Condensed Statement of Cash Flows for Wiser Oil Subsidiary Consolidation
The Quarter Ended March 31, 2001 (Parent) Guarantors Adjustments Total
---------- ----------- ------------- ---------
(000's)
Cash Flows From Operating Activities:
Net income (loss) $ 2,378 $ 3,718 $ - $ 6,096
Add back reconciling items 3,287 2,012 - 5,299
Other changes (2,106) (2,616) - (4,722)
------- ------- ------ -------
Operating Cash Flows 3,559 3,114 - 6,673
------- ------- ------ -------
Cash Flows From Investing Activities:
Capital expenditures (2,561) (770) - (3,331)
Proceeds from property sales - - - -
------- ------- ------ -------
Investing Cash Flows (2,561) (770) - (3,331)
------- ------- ------ -------
Cash Flows From Financing Activities:
Intercompany transfers 4,000 (4,000) - -
Common stock issued 25 - - 25
------- ------- ------ -------
Financing Cash Flows 4,025 (4,000) - 25
------- ------- ------ -------
Net Increase (Decrease) in Cash 5,023 (1,656) - 3,367
Cash and Cash Equivalents, beginning of period 29,518 4,626 - 34,144
------- ------- ------ -------
Cash and Cash Equivalents, end of period $34,541 $ 2,970 $ - $37,511
======= ======= ====== =======
Condensed Statement of Cash Flows for
The Quarter Ended March 31, 2000
Cash Flows From Operating Activities:
Net income (loss) $(1,423) $ 1,181 $ - $ (242)
Add back reconciling items 2,616 1,498 - 4,114
Other changes (2,955) (195) - (3,150)
------- ------- ------ -------
Operating Cash Flows (1,762) 2,484 - 722
------- ------- ------ -------
Cash Flows From Investing Activities:
Capital expenditures (2,811) (3,860) - (6,671)
Proceeds from property sales - 11 - 11
------- ------- ------ -------
Investing Cash Flows (2,811) (3,849) - (6,660)
------- ------- ------ -------
Cash Flows From Financing Activities:
Intercompany transfers - - - -
Common stock issued, net of costs - - - -
------- ------- ------ -------
Financing Cash Flows - - - -
------- ------- ------ -------
Net Increase (Decrease) in Cash (4,573) (1,365) - (5,938)
Cash and Cash Equivalents, beginning of period 18,773 2,674 - 21,447
------- ------- ------ -------
Cash and Cash Equivalents, end of period $14,200 $ 1,309 $ - $15,509
======= ======= ====== =======
9
The Wiser Oil Company
THE WISER OIL COMPANY
Notes to Financial Statements (continued)
Condensed Balance Sheets Wiser Oil Subsidiary Consolidation
March 31, 2001 (Parent) Guarantors Adjustments Total
---------- ---------- ------------ -------------
Assets:
Current assets $ 51,170 $ 6,577 $ - $ 57,747
Net property and equipment 114,815 43,731 - 158,546
Other assets 50,810 - (47,625) 3,185
-------- ------- -------- --------
Total Assets $216,795 $50,308 $(47,625) $219,478
======== ======= ======== ========
Liabilities and Stockholders' Equity:
Current liabilities $ 11,345 $ 2,683 $ - $ 14,028
Long-term debt 124,618 - - 124,618
Stockholders' equity 80,832 47,625 (47,625) 80,832
-------- ------- -------- --------
Total Liabilities and Stockholders' Equity $216,795 $50,308 $(47,625) $219,478
======== ======= ======== ========
Condensed Balance Sheets
December 31, 2000
Assets:
Current assets $ 41,737 $10,866 $ - $ 52,603
Net property and equipment 115,372 44,996 - 160,368
Other assets 51,273 - (47,931) 3,342
-------- ------- -------- --------
Total Assets $208,382 $55,862 $(47,931) $216,313
======== ======= ======== ========
Liabilities and Stockholders' Equity:
Current liabilities $ 9,501 $ 7,931 $ - $ 17,432
Long-term debt 124,600 - - 124,600
Stockholders' equity 74,281 47,931 (47,931) 74,281
-------- ------- -------- --------
Total Liabilities and Stockholders' Equity $208,382 $55,862 $(47,931) $216,313
======== ======= ======== ========
See other notes to financial statements included in the Company's Annual
Report on Form 10-K for the year ended December 31, 2000.
10
The Wiser Oil Company
THE WISER OIL COMPANY
Note 3. Net Income per Common Share
Basic net income per common share is computed based on the weighted average
shares of common stock outstanding. Net income per share computations to
reconcile basic and diluted net income consist of the following (in thousands,
except per share data):
For the Quarter
Ended March 31,
---------------------
2001 2000
--------- ---------
Net income (loss) available to common stock............. $ 5,837 $ (242)
Plus, Income impact of assumed conversions
Dividends on preferred stock.......................... 259 -
-------- --------
Net income (loss) available to common plus
assumed conversions................................... $ 6,096 $ (242)
======== ========
Basic weighted average shares........................... 9,081 8,952
Effect of dilutive securities:
Convertible preferred stock........................... 3,529 -
Warrants.............................................. 140 -
Stock options......................................... 3 -
-------- --------
Diluted weighted average shares......................... 12,753 8,952
======== ========
Net Income (Loss) per Share:
Basic................................................. $ 0.64 $ (0.03)
Diluted............................................... 0.48 (0.03)
Note 4. Subsequent Event
On May 4, 2001, the Company entered into an agreement with the shareholders
of Invasion Energy Inc. ("Invasion") to acquire Invasion for an aggregate
purchase price of $55.0 million Canadian dollars ("C$"). Wiser will acquire all
of the outstanding common shares of Invasion for C$33.0 million cash and assume
net indebtedness of C$22.0 million. Invasion is a privately-held oil and gas
company based in Calgary that has been operating primarily in the Wolverine and
Bison Lake fields located approximately 275 miles northwest of Edmonton,
Alberta. Invasion is currently producing approximately 15,400 Mcf per day of gas
(before royalties) from 70 active wells producing from multiple zones at depths
averaging less than 1,300 feet. Invasion operates and has a 100% working
interest in virtually all of the properties. In addition, Invasion has a 95%
working interest in approximately 235,000 acres of undeveloped leases
surrounding the producing wells. The transaction is expected to close by May 31,
2001.
11
The Wiser Oil Company
THE WISER OIL COMPANY
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations
Comparison of Quarters Ended March 31, 2001 and March 31, 2000
Revenues for the first quarter of 2001 increased $9.3 million or 62% from
the first quarter of 2000, due to significantly higher oil and gas prices
received in the first quarter of 2001. Oil sales for the first quarter of 2001
were $1.9 million higher than the first quarter of 2000 as the average price
received for oil sales in the first quarter of 2001 was $26.53 per barrel, up
$2.99 per barrel or 13% from the first quarter of 2000. Net oil production for
the first quarter of 2001 was 394,000 barrels, up 32,000 barrels or 9% from
362,000 barrels in the first quarter of 2000. Canadian oil production in the
first quarter of 2001 was approximately 32,000 barrels higher than the first
quarter of 2000 due primarily to increased oil production from the Evi field.
Gas sales for the first quarter of 2000 were $7.5 million higher than the first
quarter of 2000 due primarily to higher realized prices. The average price
received for gas sales during the first quarter of 2001 was $5.83 per mcf, an
increase of $3.61 per mcf or 163% from the first quarter of 2000. Gas production
for the first quarter of 2001 was 2,142 MMCF, down 100 MMCF or 4% from the first
quarter of 2000. Oil and gas sales were reduced by $1.6 million in the first
quarter of 2001 and by $1.4 million in the first quarter of 2000 from the
Company's hedging activities.
Production and operating expense for the first quarter of 2001 increased
$1.3 million, or 31% from the first quarter of 2000. Higher oil and gas prices
led to increased production taxes in the first quarter of 2001 which were $1.0
million higher than the first quarter of 2000. Production and operating expense
at the Maljamar field in the first quarter of 2001 was $0.4 million higher than
the first quarter of 2000. On a BOE basis, production and operating expense
during the first quarter of 2001 increased to $8.77 per BOE or 32% from $6.65
per BOE during the first quarter of 2000. Depreciation, depletion and
amortization ("DD&A") for the first quarter of 2001 increased $0.4 million or
10% from the first quarter of 2000. The increase was primarily from Canadian
operations. Exploration expense for the first quarter of 2001 was $2.2 million,
up $0.8 million from the first quarter of 2000 due to increased exploration
activity in the U.S. General and administrative expense in the first quarter of
2001 was $1.9 million, up $0.2 million from the first quarter of 2000 due
primarily to fees and expenses associated with potential acquisitions. Interest
expense in the first quarter of 2001 was $3.2 million, unchanged from the first
quarter of 2000. The Company had a net operating loss carryforward for Federal
income tax purposes of $18.6 million at December 31, 2000. The tax benefits of
carryforwards are recorded as an asset to the extent that management assesses
the future utilization of such carryforwards as "more likely than not." When the
future utilization of some portion of the carryforwards is determined not to be
"more likely than not," a valuation allowance is provided to reduce the recorded
tax benefits from such assets. At March 31, 2001, a valuation allowance was
provided to reduce deferred tax assets to an amount equal to deferred tax
liabilities. Accordingly, no income tax expense was recognized in the first
quarter of 2001, and income tax benefits were recognized in 2000 only to the
extent of the Company's existing deferred income tax liability.
The Company realized net income available for common stock of $5.8 million
and basic net earnings per share of $0.64 in the first quarter of 2001 compared
to a net loss of $0.2 million and net loss per share of $0.03 during the first
quarter of 2000.
Operating cash flows during the first quarter of 2001 were $6.7 million, up
$6.0 million from the first quarter of 2000. Higher oil and gas sales increased
cash flows from operations by $9.2 million while changes in working capital
decreased cash flows from operations by $4.7 million. Capital expenditures
during the first quarter of 2001 were $3.3 million, down $3.4 million from $6.7
million in the first quarter of 2000. The Company's capital and exploration
budget for 2001 is approximately $36 million. On a cash basis, the Company paid
$0.01 million in interest expense in the first quarter of 2001 and no income
taxes were paid in the first quarter of 2001.
12
The Wiser Oil Company
THE WISER OIL COMPANY
PART II - OTHER INFORMATION
Item 3. Quantitative and Qualitative Disclosures About Market Risk
See Note 1 "Hedging Activities".
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
--------
The information required by this Item 6 (a) is set forth in the Index
to Exhibits accompanying this quarterly report and is incorporated
herein by reference.
(b) Reports on Form 8-K
-------------------
None
13
The Wiser Oil Company
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 thereunto duly authorized.
THE WISER OIL COMPANY
-------------------------------------------
(Registrant)
Date: May 14, 2001 /s/ George K. Hickox, Jr.
-------------------------------------------
George K. Hickox, Jr.
Chairman, Chief Executive Officer
and Director (Principal Executive
Officer)
Date: May 14, 2001 /s/ Richard S. Davis
-------------------------------------------
Richard S. Davis
Vice President of Finance
(Principal Financial and
Accounting Officer)
14
The Wiser Oil Company
THE WISER OIL COMPANY
Index to Exhibits
Exhibit
Number Exhibit
- ------ -------
None
+ Filed herewith.
15