-----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, DoosNPKiWxT209O0CEPfotP4ejIapOMlQjkVn7/NgDY2D3q42U0SlBpFLKigzQk1 lLyrh5Ec6RUN2LwHJQzNLA== 0000912057-01-538599.txt : 20020410 0000912057-01-538599.hdr.sgml : 20020410 ACCESSION NUMBER: 0000912057-01-538599 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20001231 FILED AS OF DATE: 20011109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ESENJAY EXPLORATION INC CENTRAL INDEX KEY: 0000901611 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 731421000 STATE OF INCORPORATION: OK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12530 FILM NUMBER: 1780830 BUSINESS ADDRESS: STREET 1: 500 N WATER STREET STREET 2: SUITE 1100 CITY: CORPUS CHRISTI STATE: TX ZIP: 78471 BUSINESS PHONE: 5128837464 MAIL ADDRESS: STREET 1: 500 DALLAS STREET STREET 2: SUITE 2920 CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: FRONTIER NATURAL GAS CORP DATE OF NAME CHANGE: 19931006 11-K 1 a2063126z11-k.txt 11-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED EFFECTIVE OCTOBER 7, 1996) For the fiscal year ended: DECEMBER 31, 2000 -------------------------------- Or [ ] TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from ________________ to ________________ Commission file number 333-49192 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: Esenjay Employee Savings Plan B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: Esenjay Exploration, Inc. 500 North Water Street Suite 1100 S. Corpus Christi, Texas 78471 REQUIRED INFORMATION The Esenjay Employee Savings Plan (the "Plan") is subject to the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). Therefore, in lieu of the requirements of Items 1-3 of Form 11-K, the financial statements and schedules prepared in accordance with financial reporting requirements of ERISA are filed herewith. ESENJAY EMPLOYEE SAVINGS PLAN AUDIT REPORT December 31, 1999 and 2000 TYSON HOPKINS CEERTIFIED PUBLIC ACCOUNTANT Oklahoma City, Oklahoma 73157 TYSON HOPKINS P.O. BOX 12127 CERTIFIED PUBLIC ACCOUNTANT OKLAHOMA CITY, OKLAHOMA 73157 405-789-3617 INDEPENDENT AUDITOR'S REPORT To: Esenjay Employee Savings Plan I have audited the accompanying statements of net assets available for benefits of Esenjay Employee Savings Plan as of December 31, 1999 and 2000 and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audits in accordance with generally accepted auditing standards. These standards require that I plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audits provided a reasonable basis for my opinion. In my opinion, the financial statements referred to above present fairly, in all material respects, the net asset available for benefits of Esenjay Employee Savings Plan as of December 31, 1999 and 2000, and the changes in its net assets available for benefits for the years then ended in conformity with generally accepted accounting principles. /s/ TYSON HOPKINS Oklahoma City, Oklahoma November 6, 2001 ESENJAY EMPLOYEE SAVINGS PLAN Statements of Net Assets Available for Benefits December 31, 1999 and 2000 ASSETS 1999 2000 ---------- ---------- Investments $ 383,369 $1,603,506 Receivables: Employer contribution 4,859 5,484 Participants contribution 9,750 11,064 ---------- ---------- 14,609 16,548 ---------- ---------- TOTAL ASSETS 397,978 $1,620,054 LIABILITIES Accounts payable -0- -0- Accrued expenses -0- -0- ---------- ---------- TOTAL LIABILITIES -0- -0- ---------- ---------- NET ASSETS AVAILABLE FOR BENEFITS $ 397,978 $1,620,054 ========== ========== See accompanying notes to financial statements 1 ESENJAY EMPLOYEE SAVINGS PLAN Years Ended December 31, 1999 and 2000
ADDITIONS 1999 2000 ----------- ----------- Dividends, interest and net change in fair market value ....... ($ 3,603) $ 489,856 Received from benefit plan of acquired company upon entrance of their employees into the plan ................... -0- 691,373 ----------- ----------- (3,603) 1,181,229 Contributions by participants and employer .................... 283,264 331,450 ----------- ----------- TOTAL ADDITIONS ........................................ 279,661 1,512,679 DEDUCTIONS Deductions from net assets: Benefit payments to participants ............................ 286,445 Administration expenses ..................................... 834 4,158 ----------- ----------- TOTAL DEDUCTIONS ....................................... 834 290,603 ----------- ----------- NET INCREASE ........................................... 278,827 1,222,076 NET ASSETS AVAILABLE FOR BENEFITS Beginning of year ............................................. 119,151 397,978 ----------- ----------- END OF YEAR ................ $ 397,978 $ 1,620,054 =========== ===========
Notes to Financial Statements 2 NOTE 1 - DESCRIPTION OF PLAN The following description of the Esenjay Exploration, Inc. ("Company") 401(K) Employee Savings Plan ("Plan") provides only general information. Participants should refer to the Plan Agreement for a more complete description of the Plan's provisions. GENERAL - The plan is a defined contribution plan covering all employees who have completed at least six months of service and are age twenty-one or older. It is subject to the provisions of the Employee Retirement Income Security Act (ERISA). CONTRIBUTIONS - Participants are permitted to make elective contributions in any amount from 1% up to 10% of their compensation. Participants have the option to direct the investment of their personal contributions and their share of the company's contributions among alternate investment options offered by the plan. The company contributes and allocates to each participant's account an amount equal to the amount withheld from their compensation pursuant to their savings agreement. The company's matching contribution is invested directly in it's common stock. PARTICIPANT ACCOUNTS - Each participant has a separate account. The account is credited with their contributions and allocation of (a) the company's contribution (b) investment earnings and (c ) increases in fair market value of the fund since the last valuation date. It is charged with its allocated share or administrative expenses and decreases in fair market value. The benefit to which a participant is entitled is the benefit that can be provided from the participants vested account. VESTING - Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the company's contribution portion of their accounts plus earnings thereon is based on years of service. A participant is 100% vested after five years of credited service. PAYMENT OF BENEFIT - A participant may elect to receive either lump sum or installment payments, as soon as administratively feasible, following the date of which a distribution is requested or otherwise payable. FORFEITURES - These accounts are applied to offset administrative expenses of the plan. 3 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ESTIMATES - The preparation of financial statements in conformity with generally accepted accounting principles require the plan administrator to make estimates and assumptions that may affect certain reported amounts and disclosures. Accordingly, actual results may differ from those estimates. INVESTMENT VALUATION AND INCOME RECOGNITION - the plan's investments are stated at fair value. Quoted market prices are used to value its investments. Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date. NOTE 3 - INVESTMENTS The following presents investments at December 31, 1999 and 2000 that represents 5% or more of the plan's net assets. 1999 2000 --------- -------- Fidelity Money Market Fund, 44,795 units and 322,828 units $ 44,795 $322,828 Esenjay Common Stock 135,478 shares and 153,548 shares $254,021 $719,756 T. Rowe Price Mid-Cap Growth Fund 3,222 units $127,814 Vanguard Index 500 Fund 1,003 units $122,187 AIM Blue Chip Fund 6,528 units $102,884 NOTE 4 - TAX STATUS The Internal Revenue Service has determined and informed the Company by a letter dated June 16, 1995 that the Plan and related trust are designed in accordance with the Internal Revenue Code. Although the Plan was amended on October 1, 1998, the Company believes that the Plan is in compliance with the determination letter and with all applicable requirements of the Internal Revenue Code. 4 CONSENT OF INDEPENDENT AUDITOR I consent to the incorporation by reference of my report dated November 6, 2001, relating to statements of net assets available for plan benefits of the Esenjay Employee Savings Plan at December 31, 1999 and 2000 and the related statements of changes in net assets available for plan benefits for the years ended December 31, 1999 and 2000, which report appears in the December 31, 2000 annual report for Form 11-K of the Esenjay Employee Savings Plan. /s/ TYSON HOPKINS - --------------------------------------- Tyson Hopkins Certified Public Accountant Oklahoma City, Oklahoma November 8, 2001 5 SIGNATURES THE PLAN: Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. Esenjay Employee Savings Plan Date: NOVEMBER 9, 2001 /s/ DAVID B. CHRISTOFFERSON ------------------ ------------------------------------ David B. Christofferson Senior Vice President, General Counsel, Chief Financial Officer and Esenjay Employee Savings Plan Administrative Committee Member 6 -----END PRIVACY-ENHANCED MESSAGE-----