-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, POOMScMzQrglXPQXxeaPiBSiWHjeNpvOfhcqJcOx/NrC4LBlPn85u0xE5Qt6zFe6 MPPpk0xPS/HjrbdDwBJEmQ== 0001021408-01-506513.txt : 20010911 0001021408-01-506513.hdr.sgml : 20010911 ACCESSION NUMBER: 0001021408-01-506513 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010905 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20010910 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLAINS RESOURCES INC CENTRAL INDEX KEY: 0000350426 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172] IRS NUMBER: 132898764 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10454 FILM NUMBER: 1734452 BUSINESS ADDRESS: STREET 1: 500 DALLAS STREET 2: STE 700 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7136541414 MAIL ADDRESS: STREET 1: 1600 SMITH STREET STREET 2: SUITE 1500 CITY: HOUSTON STATE: TX ZIP: 77002 8-K 1 d8k.txt FORM 8-K FOR THE PERIOD ENDING 9/6/2001 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) September 5, 2001 ----------------- PLAINS RESOURCES INC. --------------------- (Exact name of registrant as specified in its charter) Delaware 13-2898764 --------- ---------- (State of other jurisdiction of (I.R.S. Employer incorporation) Identification No.) 0-9808 ------ (Commission File Number) 500 Dallas Street, Suite 700 Houston, Texas 77002 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (713) 654-1414. -------------- Item 5. Other Events. On September 5, 2001, Plains Holdings Inc. (fka Plains All American Inc.)(the "Company"), a wholly owned subsidiary of Plains Resources Inc. (the "Registrant"), completed the sale of an additional 2% ownership interest in the general partner of Plains All American Pipeline, L.P. ("PAA") to PAA Management, L.P. ("PAA Management") pursuant to the exercise of an option granted by the Company to PAA Management in connection with the Registrant's recent strategic restructuring, which was consummated on June 8, 2001. The Registrant issued a press release to report this sale, which is included as an exhibit to this report. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. 99.1 Press Release issued by the Registrant on September 6, 2001. 2 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. PLAINS RESOURCES INC. Date: September 7, 2001 /s/ Cynthia A. Feeback ------------------------ Cynthia A. Feeback Vice President - Accounting & Treasurer 3 INDEX TO EXHIBITS ----------------- No. Exhibit - -- ------- 99.1 Press Release issued by the Registrant on September 6, 2001. EX-99.1 3 dex991.txt 9/6/2001 PRESS RELEASE Exhibit 99.1 Contact: Paul H. Prince, Jr. Senior Financial Analyst (713) 654-1414 or (800) 934-6083 FOR IMMEDIATE RELEASE - --------------------- PLAINS RESOURCES ANNOUNCES 2% SALE OF THE GENERAL PARTNER OF PLAINS ALL AMERICAN - -------------------------------------------------------------------------------- PIPELINE, L.P. TO EXECUTIVE MANAGEMENT -------------------------------------- Houston, Texas - September 6, 2001 - Plains Resources Inc. (AMEX:PLX) today announced that it has closed the sale of an additional 2% ownership interest in the general partner of Plains All American Pipeline, L.P. (NYSE:PAA) ("PAA") to executive management of PAA. This sale was made pursuant to the exercise of the previously announced option granted to executive management of PAA in connection with the recent strategic restructuring on June 8, 2001, and was on terms identical to the terms of the strategic restructuring transaction. As a result of the sale, Plains' ownership interest in the general partner of PAA decreased from 46% to 44%. Mr. James C. Flores, Chairman and CEO of Plains Resources Inc. commented, "the exercise of this option by Greg Armstrong and his executive management team indicates their confidence in the future of PAA and the closing of the transaction demonstrates the commitment of Plains Resources to, and its confidence in, the management team at PAA and further aligns the interests of management with shareholders of both PAA and PLX." Plains is an independent energy company engaged in the exploration, acquisition, development and exploitation of crude oil and natural gas. Through its ownership in Plains All American Pipeline, L.P., Plains has interests in the midstream activities of marketing, gathering, transportation, terminalling and storage of crude oil. Plains is headquartered in Houston, Texas. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among other things, economic conditions, oil and gas price volatility, uncertainties inherent in the exploration for and development and production of oil and gas and in estimating reserves, regulatory changes and other factors discussed in Plains Resources' filings with the Securities and Exchange Commission. # # # -----END PRIVACY-ENHANCED MESSAGE-----