8-K

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): July 8, 2003

Commission File Number: 0-7914

BASIC EARTH SCIENCE SYSTEMS, INC.

(Exact name of registrant as specified in its charter)

Delaware	84-0592823
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)

1801 Broadway, Suite 620 Denver, Colorado	80202-3835
(Address of principal executive offices)	(Zip Code)

(303) 296-3076

(Registrant telephone including area code)

Item 5. Other Events and Regulation FD Disclosure

On July 10, 2003, Basic Earth Science Systems, Inc. (the Company) announced that Legent Resources Corporation, its wholly-owned Canadian subsidiary, sold its interest in the Wildwood 191/05-06-007-1W2M well in Canada to an unrelated third party for $187,000 Cdn. A copy of the Company’s press release concerning this matter is attached as Exhibit 99.1 hereto and is incorporated herein by this reference.

Item 7. Exhibits

(C) Exhibits.

Exhibit No.	Description
99.1	Press Release dated July 10, 2003

SIGNATURE

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.

		BASIC EARTH SCIENCE SYSTEMS, INC.
Date: July 10, 2003	By:	/s/    Ray Singleton
		Ray Singleton, President

EX-99.1

Exhibit 99.1

NEWS RELEASE

For Immediate Release

Contact: Ray Singleton

(303) 296-3076

Basic Earth Announces Sale of Canadian Asset

Denver, Colorado, July 10, 2003—Basic Earth Science Systems, Inc. (Basic) (OTCBB:BSIC) reported today that Legent Resources Corporation (Legent), its wholly-owned Canadian subsidiary, has sold its interest in the Wildwood 191/05-06-007-1W2M, along with other leasehold rights in the immediate area, to an unrelated third party for $187,500 Cdn. Basic previously disclosed in its most recent Form 10-KSB that it had granted Crescent Point Energy, Ltd (Crescent) the right to develop its shallower Mississippian age formations at its Manor prospect in T7N, R1W2 and R2W2, Saskatchewan and that Crescent had subsequently established production on that grant. Legent had a 0.83 percent overriding royalty interest in this well and the right to increase its interest to an approximate 3.3% working interest once Crescent recovered its initial investment. Legent received an average of approximately $2,500 Cdn monthly in net sales revenue from the first three months of production.

“We are pleased to report the proceeds from the sale of this minor interest,” explained Ray Singleton, the company’s president. “We have always viewed the shallower Mississippian age formations as secondary to our primary target, the Red River formation. This sale represents not only a substantial recapture of Legent’s total Canadian investment, but also provides a welcomed source of cash flow from Legent’s ventures to fund its future plans.”

Basic is an oil and gas exploration and production company with primary operations in both the Canadian and U.S. portions of the Williston basin, south Texas and Colorado. Basic is traded on the “over-the-counter – bulletin board” under the symbol BSIC.

Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as “if,” “potential,” “possible,” “should,” “would,” “may,” “will,” “anticipate,” “estimate,” “intend” or “continue,” or comparable words. In addition, all statements other than statements of historical facts that address activities that Basic intends, expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Basic, particularly the Company’s Annual Report on Form 10-KSB for the Fiscal Year Ended March 31, 2003, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management.