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UNITED STATES
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) October 2, 2007
CONTANGO OIL & GAS COMPANY
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE 001-16317 95-4079863
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3700 BUFFALO SPEEDWAY, SUITE 960
HOUSTON, TEXAS 77098
(Address of principal executive offices)
(713) 960-1901
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
October 2, 2007 - HOUSTON, TX - Contango Oil & Gas Company (AMEX:MCF)
announced a successful well at its Mary Rose prospect located in Louisiana state
waters at State Lease No. 18640. The Mary Rose #1 well is located approximately
six miles off the coast of Louisiana and was drilled by Contango Operators, Inc.
("COI"), a wholly-owned subsidiary of the Company.
As of June 30, 2007, proved reserves from our Dutch and Mary Rose prospects
were 226 billion cubic feet equivalent ("Bcfe") (65 Bcfe net to Contango). As of
October 2, 2007, proved reserves from our Dutch and Mary Rose prospects were 380
Bcfe (109 Bcfe net to Contango), a 68% increase, as estimated by the Company's
independent third party engineer. As of June 30, 2007, probable reserves from
our Dutch and Mary Rose prospects were 205 Bcfe (59 Bcfe net to Contango). As of
October 2, 2007, probable reserves from our Dutch and Mary Rose prospects were
220 Bcfe (63 Bcfe net to Contango), a 7% increase, also as estimated by the
Company's independent third party engineer. Total proved reserves plus probable
reserves were 431 Bcfe at June 30, 2007 (124 Bcfe net to Contango), and 600 Bcfe
at October 2, 2007 (173 Bcfe net to Contango), a 39% increase.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit No. Description of Document
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99.1 Press release dated October 2, 2007
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.
CONTANGO OIL & GAS COMPANY
Date: October 5, 2007 By: /s/ KENNETH R. PEAK
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Kenneth R. Peak
Chairman and Chief Executive Officer