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 31, 2002
PANGEA PETROLEUM CORPORATION
(Exact name of Registrant as specified in its Charter)
Colorado 0-30503 76-0635938
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
5850 San Felipe, Suite 500, Houston, Texas 77057
Address of principal executive offices) (Zip Code)
(713) 706-6350
(Registrant's telephone number, including area code)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On May 31, 2002, we were part of a multi-party settlement of a dispute,
pursuant to which we exchanged all of our shares of our former subsidiary,
Pangea Services, Inc., for all of the shares of Enatomy, Inc.("Enatomy"), a
private Texas corporation. Enatomy, which presently has no operations, was
recently formed, has no liabilities and its assets included cash (in the
approximate amount of $75,000 as of May 31, 2002), free-trading securities (with
an aggregate book value of $235,000 on Enatomy's books) and approximately 5.5
million shares of our own common stock. We may cancel these shares at a later
date.
Pangea Services, Inc. assets consisted of its ownership in WorldLink USA,
LLC, which had a book value of $125,000.
In addition, as part of the settlement, we were released from liability on
certain promissory notes which totaled approximately $185,000.
ITEM 5. OTHER EVENTS
On June 7, 2002, we will move our corporate offices to 5850 San Felipe,
Suite 500 Houston, Texas 77057. Our new phone number is 713-706-6350 and our new
facsimile number is 713-706-6351. Our website is www.pangeapetroleum.info.
FORWARD LOOKING STATEMENTS
This Form 8-K contains "forward-looking statements" that are subject to
risks and uncertainties within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are made on the basis of management's views
and assumptions regarding future events and business performance as of the time
the statements are made. Actual results may differ materially from those
expressed or implied. Such differences may result from actions taken by the
company prior to its current fiscal year end, as well as from developments
beyond the company's control, including changes in global economic conditions
that may, among other things, affect the company's performance anticipated
acquisitions or future business. In addition, changes in domestic competitive
and economic conditions may also affect performance of all significant company
businesses.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements
If required, the financial statements required by this item will be filed
no later than August 14, 2002.
(b) Exhibits
Exhibit 10.1 Settlement Agreement
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants have duly caused this report to be signed on their behalf by the
undersigned hereunto duly authorized.
Dated: June 7, 2002 Pangea Petroleum Corporation
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By: /s/ Charles B. Pollock
Charles B. Pollock,
Chief Executive Officer and President
Exhibit 10.1 Settlement Agreement