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BOGO ENERGY CORP. PLANS $15 MILLION IPO

 OKLAHOMA CITY, Okla., Oct. 29 /PRNewswire/ -- Bogo Energy Corp., an independent oil and gas company headquartered in Oklahoma City, announced today that it has filed a registration statement with the Securities and Exchange Commission relating to a $15 million initial public offering to be underwritten by a group of underwriters led by Paulson Investment Co. Inc., an investment banking firm based in Portland, Ore.
 The Unit offering will consist of an aggregate of 1,000,000 shares of convertible preferred stock, 500,000 shares of common stock (300,000 of which are being sold by a selling stockholder) and 1,250,000 common stock purchase warrants.
 The preferred stock is expected to have a liquidation preference of $12 per share and an annual cumulative dividend rate of $1.50 per share. The preferred stock is expected to be convertible at the option of the holder into two shares of common stock and will automatically convert into common stock when the preferred stock has traded for at least $15.60 for at least 10 days.
 The common stock purchase warrants will be exercisable for five years and are expected to have an exercise price of $9.00 per common share. Each Unit, expected to be offered at a price of $60.00 per Unit, will consist of four shares of preferred stock, two shares of common stock and five warrants.
 The specific terms and prices of the Units and the preferred stock and warrants will be finalized when the Offering is made, which is anticipated to occur before the end of 1993, after a registration statement filed with the Securities and Exchange Commission becomes effective.
 Richard D. Bogert, formerly chief executive officer of Bogert Oil Co., is the principal stockholder and is the chief executive officer of Bogo Energy. Bogo Energy engages in oil and gas exploitation and development primarily in northwest Oklahoma.
 The registration statement has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities laws of any such state.
 A preliminary prospectus relating to the prospectus relating to the proposed Offering may be obtained from Paulson Investment Co. Inc., 811 S.W. Front Ave., Suite 200, Portland, OR 97204, telephone: 503-243-6000.
 For additional information, contact: Stephen E. Merrill, Bogo Energy Corp., Suite 1400, 1601 N.W. Expressway, Oklahoma City, OK 73118; 405-840-1067.
 -0- 10/29/93
 /CONTACT: Carl Thompson, CEO of Carl Thompson Associates Inc., 303-494-5472/


CO: Bogo Energy Corp. ST: Oklahoma IN: OIL SU: OFR

MF-EH -- LA020 -- 8511 10/29/93 12:20 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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