UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SEC FILE NUMBER
Form 12b-25 0-7261
NOTIFICATION OF LATE FILING CUSIP NUMBER
159420 20 7
(Check One): |_|Form 10-K |_|Form 20-F |_|Form 11-K |X|Form 10-Q |_|Form N-SAR
For Period Ended: March 31, 2002
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[ ] 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: _______________________________________________
Reac Instructions (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
lf the notification relates to a portion of the filing checked above, identify
the item (s) to which the notification relates:
PART I - - REGISTRANT INFORMATION
Chaparral Resources, Inc.
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Full Name of Registrant
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Former Name if Applicable
16945 Northchase Drive, Suite 1620
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Address of Principal Executive Office (Street and Number)
Houston, TX 77060
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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)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
[ X ] (b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, 11-K, or Form N-SAR, or portion thereof,
will be filed on or before the fifteenth calendar day following
the prescribed due date; or the subject quarterly report of
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 the Form 10-K, l l-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period, (Attach Extra Sheets if Needed)
See attached.
PART IV - - OTHER INFORMATION
(l) Name and telephone number of person to contact in regard to this
notification
Michael B. Young 281 877-7100
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or l5(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 statement to be included in the subject report or portion thereof?
Yes |_| No
If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.
See attached.
Chaparral Resources, Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date May 15, 2002 By /s/ Michael B. Young
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Treasurer & Controller
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal criminal
violations (See 18 U. S. C. 1001).
ATTACHMENT PAGE TO FORM 12b-25
CHAPARRAL RESOURCES, INC.
PART III - NARRATIVE
Registrant owns an interest in oil and gas properties in a foreign country
through a subsidiary, which had a 50% interest in a foreign entity that owns the
interest in the oil and gas properties as of March 31, 2002. The Registrant has
been advised that delays have been encountered in obtaining certain information
that may affect the completion of the financial information for such entities.
Therefore, the Registrant is unable to obtain all of the required financial
information for the three months ended March 31, 2002, in order for the
Registrant's Quarterly Report on Form 10-Q to be filed within the prescribed
time period.
PART IV - OTHER INFORMATION
(3) Registrant will report a net loss between $2.9 million and $3.0 million
for the three months ended March 31, 2002, and reported a net loss of $4.22
million for the three months ended March 31, 2001. The decrease in the loss was
primarily due to the impact of the adoption of SFAS 133, Accounting for
Derivative Instruments and Hedging Activities during the quarter ended March 31,
2001, net of a decrease in equity income from investment during the quarter
ended March 31, 2002. The decrease of equity income from investment is primarily
attributable to lower oil prices obtained on the sale of crude oil by the
Registrant's equity investee during the current period compared to the quarter
ended March 31, 2001.