Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
16 November 2016 - 7:48AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
|
NOTIFICATION OF LATE FILING
|
SEC FILE NUMBER
000-6814
|
|
(Check One):
|
¨
Form
10-K
¨
Form 20-F
¨
Form
11-K
þ
Form 10-Q
|
¨
Form
N-SAR
¨
Form N-CSR
For Period Ended:
September 30, 2016
¨
Transition Report on Form 10-K
¨
Transition Report on Form 20-F
¨
Transition Report on Form 11-K
¨
Transition Report on Form 10-Q
¨
Transition Report on Form N-SAR
For the Transition Period Ended: ___________________
|
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
|
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
PART I — REGISTRANT INFORMATION
U.S. Energy Corp.
Full Name of Registrant
Not Applicable
Former Name if Applicable
4643 S. Ulster Street, Suite 970
Address of Principal Executive Office
(Street
and Number)
Denver, Colorado 80237
City, State and Zip Code
PART II — RULES 12b-25(b) AND (c)
If the subject report could not be filed
without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed.
(Check box if appropriate)
x
|
|
(a) The reasons described
in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
(b) The subject annual
report, semi-annual report, transition report on Form 10-K, Form 20-F,11-K, Form N-SAR or Form N-CSR, or portion thereof, will
be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition
report on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and
(c) The accountant's statement
or other exhibit required by Rule 12b-25(c) has been attached if applicable.
|
PART III — NARRATIVE
State below in reasonable detail the reasons
why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR, or the transition report portion thereof, could not be filed within the prescribed
time period.
The Registrant is unable to file its Quarterly
Report on Form 10-Q for the fiscal quarter ended September 30, 2016, within the prescribed time period because the Registrant has
not been able to obtain and assimilate all information required to complete its accounting for the quarter. Accordingly, the Registrant
has not been able to complete its financial statements and other required disclosures to its Form 10-Q.
PART IV— OTHER INFORMATION
(1)
Name and telephone number of person to contact in regard to this notification
David A. Veltri
|
303
|
993-3200
|
(Name)
|
(Area Code)
|
(Telephone Number)
|
(2) Have all other periodic reports
required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during
the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer
is no, identify report(s).
x
Yes
¨
No
(3) Is it anticipated that any significant
change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements
to be included in the subject report or portion thereof?
x
Yes
¨
No
The Registrant expects to report revenues
for the quarter ended September 30, 2016 of approximately $2.0 million as compared to $2.6 million for the quarter ended September
30, 2015, a decrease of $0.6 million. This reduction in revenue was attributable to a 13% decrease in the Company’s BOE production
quantities and an 18% decrease in the average price per BOE realized during the three months ended September 30, 2016. The Registrant
expects to report a net loss for the quarter ended September 30, 2016 of approximately $0.3 million as compared to a net loss of
$23.7 million for the quarter ended September 30, 2015, a reduction of $23.4 million. This reduction in the Company’s net
loss was primarily attributable to a $21.4 million reduction in oil and gas property impairment as the Company did not have a Full
Cost Ceiling write-down for the quarter ended September 30, 2016.
The foregoing statements are based on the
Company’s current expectations as of the date of this filing and involve a number of risks and uncertainties, which may cause
actual results to differ. The risks include, but are not limited to, unexpected changes arising from the completion of quarterly
review procedures by the Company’s independent auditors.
U.S. Energy Corp.
|
(Name of Registrant as Specified in Charter)
|
has caused this notification to be signed
on its behalf by the undersigned hereunto duly authorized.
Date: November 15, 2016
|
By
|
/s/ David A. Veltri
|
|
David A. Veltri
|
|
Chief Executive Officer and Director
|
US Energy (NASDAQ:USEG)
Historical Stock Chart
From Apr 2024 to May 2024
US Energy (NASDAQ:USEG)
Historical Stock Chart
From May 2023 to May 2024