Spindletop Oil & Gas Co. (SPND)

[dizzydon]

Some historical background on the company...

this section no longer appears in the companies filings

.......from 2002 10-K filed 3/31/2003........

______________________ BACKGROUND_____________________________

The Company is a Texas Corporation. The Company was previously known as Prairie States Energy Co. ("PSE"). On July 13, 1990, Spindletop Oil & Gas Co., a Utah Corporation, ("SOG UTAH") merged into PSE, and the name of PSE was changed to Spindletop Oil & Gas Co., the Company herein.

The Company was originally incorporated in Colorado as Mid-America Drilling & Exploration, Inc., on August 9, 1978 as a wholly owned subsidiary of Mid-America Petroleum, Inc.("MAP"). The principal business of the Company at that time was contract drilling of oil and gas wells. The initial public offering of the Company occurred by prospectus dated December 13, 1979. In
January 1981, the shares of the Company owned by MAP were distributed as a dividend to the shareholders of MAP. The Company's name was changed to Prairie States Exploration, Inc. on March 15, 1983.
Prairie States Exploration, Inc. became insolvent in late 1983, and filed for protection under Chapter 11 of the Bankruptcy Code on December 14, 1983.
Prairie States Exploration, Inc. was successfully reorganized under Chapter 11 of the Bankruptcy Code, and the Bankruptcy Court approved the plan of reorganization on September 9, 1985. Pursuant to the Plan, the Company merged into a wholly owned subsidiary, Prairie States Energy Co., a Texas Corporation.

The Plan of Reorganization was proposed and funded by Paul E. Cash.

Since the reorganization, the Company has engaged in the general oil and gas
business, including exploration, development, and production of oil and gas,
the rental of oilfield production equipment and the ownership and construction
and operation of pipelines for the gathering and marketing of natural gas. SOG
Utah was incorporated on August 15, 1975 as Main Street Equities, Inc., a Utah
corporation. SOG Utah sold 5,000,000 shares of common stock in a public
offering in 1976. Until 1981, the business of the company consisted of minor
real estate operations. In October 1981 the name was changed to Aledo Oil and
Gas Company, and in January 1983 the name was changed to Spindletop Oil & Gas
Co.

The name "Spindletop" has been used by Paul E. Cash since 1975 in conjunction
with several previous oil and gas businesses in which he was engaged.
On July 13, 1990, SOG Utah was merged into PSE, and the name of the surviving
company was changed to Spindletop Oil & Gas Co., a Texas corporation. In the
merger, each shareholder of PSE received one-half share of the common stock of
the surviving company, for each share of PSE owned prior to the merger. Each
shareholder of SOG Utah received one and one-half shares of the common stock
of the surviving company, for each share of SOG Utah owned prior to the merger.
After the merger, the Company had 44,922,564 shares of common stock
outstanding, 32,255,195 of which were owned by the shareholders of PSE and
12,667,369 by shareholders of SOG Utah. Shares issued to the former
shareholders of SOG Utah have not been registered with the Securities and
Exchange Commission but according to Rule 144-K these shares would
automatically become free trading three years from date of issuance.
The Company's management believes that all shares issued to the former shareholders of SOG Utah are now free trading in accordance with Rule 144-K.
On January 31, 1997, the Company effected a one for six reverse stock split.
The Company reduced the authorized common shares from 150,000,000 to
100,000,000 and increased the par value from $.001 to $.01 per share.

On December 1, 1999, Giant Energy Corp. purchased controlling interest in Spindletop Oil & Gas Co. Giant purchased 5,860,889 shares of the Registrant's outstanding Common Stock and as of December 31, 2002 owns 77.3 percent of the Registrant's 7,582,471 shares of outstanding Common Stock.
Chris Mazzini,President and Chairman of the Board of the Registrant, is sole owner of Giant.
____________________________________________________________________________________________________

.......current insider ownership...............


Chris Mazzini and Michelle Mazzini ... 5,900,543 (1) 77%
12850 Spurling Rd., Suite 200 Dallas, Texas 75230

All officers&directors,as a group .....5,900,543


West Coast Asset Management, Inc. .. 703,000 9%
West Coast Opportunity Fund, LLC
1205 Coast Village Road
Montecito, California 93108

(1) Chris Mazzini directly owns 39,654 shares (1%). Giant Energy Corp. directly owns 5,860,889 shares (76%).
Chris Mazzini owns 100% of the common stock of Giant Energy Corp.

............ and Paul E. Cash.....
Common Stock 265,036 (3.47%) as of 01/29/2008
(he'd had 308,478 shares but sold 43,442 between 12/15/2006 and 7/23/2007)

...add these up and you get 6,868,579,or 90% of the 7,630,803 current outstanding
_________________________________________________________________________________________________________

here's something from West Coast Asset Management's ownership registration which may not mean a thing............

ITEM 4. Purpose of Transaction.

The Reporting Persons originally acquired all of the shares of common stock reported herein for investment purposes.

As an investor in the Issuer, the Reporting Persons have had from time to time general discussions with representatives of the Issuer, and with representatives of third parties, regarding various matters related to Issuer’s business and operations. Some of these discussions have included brief and cursory discussions of hypothetical strategic alternatives designed to maximize shareholder value.

The Reporting Persons intend to engage in communications with one or more stockholders, officers, or directors of the Issuer, and/or other third parties, regarding the Issuer’s operations and strategic direction. These communications may include ideas that, if effected, would result in, among other things: (i) the Reporting Persons acquiring additional shares of common stock, or disposing of any or all of their shares of common stock; (ii) an extraordinary corporate transaction, such as a merger, sale, reorganization, or liquidation involving the Issuer; (iii) a material change to Issuer’s present capitalization or dividend policy; (iv) any other material change in the Issuer’s business or corporate structure; (v) soliciting proxies or consents, to be used at either the Issuer’s regular annual meeting of shareholders, or at a special meeting of shareholders, or otherwise, with respect to the matters described above; (vi) seeking alone or with others to acquire control of the Issuer through a merger, proxy solicitation, tender offer, exchange offer or otherwise; and/or (vii) taking such other actions with respect to the Issuer as the Reporting Persons may from time to time determine.

Based on such discussions and upon the Reporting Persons’ continuous evaluation and review of Issuer, and other factors, the Reporting Persons will continue to consider various alternative courses of action and will in the future take such actions with respect to their investment in the Issuer as they deem appropriate in light of the circumstances existing from time to time.

Although the Reporting Persons expect to undertake one or more of the actions described above, there exists no agreement between the Reporting Persons of the kind described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Except to the extent that the foregoing discussions may be deemed a plan or proposal, none of the Reporting Persons has any plans or proposals that relate to or would result in any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.