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SECURITIES AND EXCHANGE COMMISSION

 

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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):

 

MARCH 5, 2003

 

BETA OIL & GAS, INC.

(Exact name of registrant as specified in its charter)

 

Nevada		333-68381		86-0876964
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

 

6120 S. Yale, Suite 813, Tulsa, OK		74136
(Address of principal executive offices)		(Zip Code)

 

(918) 495-1011

(Registrant’s telephone number, including area code)

 

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Item 5.    OTHER EVENTS.

 

On March 5, 2003, the Company announced its financial results for the year ended and the three months ended December 31, 2002. These results included a fourth quarter non-cash, full cost ceiling impairment charge primarily due to a reclassification of the estimated oil and gas reserves attributable to the Company’s Jackson County, Texas properties. A copy of the press release announcing these results is included as an exhibit to this report and incorporated herein by reference.

 

Item 7.    FINANCIAL STATEMENTS AND EXHIBITS

 

99.1

Press Release dated March 5, 2003.

 

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 who is duly authorized.

 

 

						BETA OIL & GAS, INC.
Date:  March 7, 2003						By:		/s/    Joseph L. Burnett
						Joseph L. Burnett Chief Financial Officer and Principal Accounting Officer

 

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