Spindletop Oil & Gas Co. (SPND)

[10 bagger]

SPND.. $1.66.. This is a table pounder..

When filing for the NT 10K SPND was asked several questions which it had to answer with the late filing.. Usually Late filings are of little interest because they almost alway's are the prelude to bad or sloppy bookkeeping with not such good results..

In this case earnings as they as super conservative should be above $1,650,000.00 EPS of over $0.21 per share vrs. $0.06 the prior year.. Cash flow of $2,960.000.00 is equal to $0.387 or almost twice the previous years cash flow of $0.195.. Cash should increase to to over $9,000,000.00 or $1.18 vrs $0.82 for the previous year..

On cash flow I would evaluate SPND at 6 times or $2.32 and if you add the cash of $1.18 you get $3.48.. Last on SPND was $1.66 so I can see at least a double from here W/O any undue risk.. If 4'th qtr. results were ther the same in the next 4 Qtrs I see the value of SPND being $5.32..

Net income for the period ended December 31, 2011 is anticipated to increase as compared with the same period in 2010. In 2010 we reported a net income of $447,000, however we anticipate that net income for the period ended December 31, 2011 will be in the area of approximately $1,500,000 - $1,750,000.

This estimated increase is due primarily to an increase in total oil and gas revenues from approximately $6,302,000 in 2010 to approximately $8,000,000 in 2011.

From the NT 10K...
Spindletop Oil & Gas Co. is unable to file its quarterly report on Form 10-K for the period ended December 31, 2011, without unreasonable effort and expense due to the late receipt of information required from consolidated subsidiaries.

PART IV - OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this notification.

Chris G. Mazzini 972 644-2581

(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

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.

Net income for the period ended December 31, 2011 is anticipated to increase as compared with the same period in 2010. In 2010 we reported a net income of $447,000, however we anticipate that net income for the period ended December 31, 2011 will be in the area of approximately $1,500,000 - $1,750,000.

This estimated increase is due primarily to an increase in total oil and gas revenues from approximately $6,302,000 in 2010 to approximately $8,000,000 in 2011.


March 30, 2012
By: /s/ Chris G. Mazzini
Chris G. Mazzini

President, Principal Executive Officer