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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) May 20, 1997
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SOUTHERN MINERAL CORPORATION
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(Exact name of registrant as specified in charter)
Nevada
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(State or other jurisdiction of incorporation)
0-8043 36-2068676
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(Commission File Number) (IRS Employer Identification No.)
500 Dallas Street, Suite 2800, Houston, Texas 77002-4708
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 658-9444
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(Former name or former address, if changed since last report.)
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Item 2. Acquisition or Disposition of Assets
On May 20, 1997, Southern Mineral Corporation (the "Company") purchased
from Mario Garcia and Dolores E. Garcia, ( "the Sellers"), the outstanding
capital stock of BEC Energy, Inc. ("BEC") . The purchase price was $10,640,000.
BEC's only assets consist of working interests in fourteen oil and gas wells
located in the Big Escambia Creek Field in Big Escambia, Alabama.
The Company financed the acquisition with a $10,600,000 advance under
the Company's credit facility with Compass Bank-Houston.
This summary is qualified in its entirety by the May 20, 1997 Purchase
and Sale Agreement between the Company and Sellers filed as an exhibit to this
Form 8-K. The May 20, 1997 News Release of the Company concerning the subject
transactions is attached hereto as an exhibit and incorporated herein by
reference.
Item 7. Financial Statements and Exhibits
(a) Financial Statements of Businesses Acquired.
At the time of filing this Form 8-K, it is
impractical for Registrant to provide the required financial
statements for acquired businesses. Registrant will file the
required financial statements as an amendment to this Form 8-K
as soon as practicable, but not later than August 4, 1997.
(b) Pro Forma Financial Information.
At the time of filing this Form 8-K, it is
impracticable for Registrant to provide the required pro forma
financial information. Registrant will file the required pro
forma financial information as an amendment to this Form 8-K
as soon as practicable, but not later than August 4, 1997.
(c) Exhibits.
2.1 Purchase and Sale Agreement, dated as of May 20,
1997, by and among Mario Garcia and Delores E. Garcia
and Southern Mineral Corporation (filed herewith
without the Schedules and Exhibits thereto which will
be provided to the Commission upon request).
99 News Release of Southern Mineral Corporation dated
May 20, 1997 (filed herewith).
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
May 21, 1997 Southern Mineral Corporation
By: /s/ James H Price
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James H. Price
Vice President-Finance
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EXHIBIT INDEX
2.1 Purchase and Sale Agreement, dated as of May 20,
1997, by and among Mario Garcia and Delores E. Garcia
and Southern Mineral Corporation (filed herewith
without the Schedules and Exhibits thereto which will
be provided to the Commission upon request).
99 News Release of Southern Mineral Corporation dated
May 20, 1997 (filed herewith).