UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q/A

Amendment No. 1

þ		QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2008

or

o		TRANSITION REPORT PURSUANT OT SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File No. 000-18774

SPINDLETOP OIL & GAS CO.

(Exact name of registrant as specified in its charter)

Texas (State or other jurisdiction		75-2063001 (I.R.S. Employer Identification No.)
of incorporation or organization)
12850 Spurling Rd., Suite 200, Dallas, TX		75230
(Address of principal executive offices)		(Zip Code)

(972) 644-2581
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Company was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act).

Large accelerated filer o		Accelerated filer o		Non-accelerated filer o		Smaller reporting company þ

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act. Yes o No þ

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes o No o

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common, as of the latest practicable date.

Common Stock, $0.01 par value		7,610,803
(Class)		(Outstanding at August 14, 2008)

 

 

EXPLANATORY NOTE

We are filing this Amendment No. 1 on Form 10-Q/A to the Spindletop Oil & Gas Co. Quarterly Report on Form 10-Q for the quarter ended June 30, 2008 in response to comments received by us from the Securities and Exchange Commission’s staff pursuant to its review of our Form 10-Q for the quarter ended June 30, 2008. Pursuant to the Commission’s comments, we have amended our Form 10-Q for the quarter ended June 30, 2008 to modify the language in Item 4 — Controls and Procedures to state that the Company’s disclosure controls and procedures were effective as of the end of the period covered by the report.

All other information contained in the original Form 10-Q remains unchanged. However, the entire report with all Items is included in this Form 10-Q/A for the convenience of the reader. This Amendment No. 1 on Form 10-Q/A does not reflect events occurring after the filing of our Quarterly Report on Form 10-Q on August 14, 2008 or include, or otherwise modify or update, the disclosures contained therein in any way except as expressly indicated above.

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
FORM 10-Q
For the quarter ended June 30, 2008

Index to Consolidated Financial Statements and Schedules

		Page
Part I — Financial Information:
Item 1. — Financial Statements
Consolidated Balance Sheets June 30, 2008 (Unaudited) and December 31, 2007			3-4
Consolidated Statements of Income (Unaudited) Six Months Ended June 30, 2008 and 2007 and Three Months Ended June 30, 2008 and 2007			5
Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 30, 2008 and 2007			6
Notes to Consolidated Financial Statements			7
Item 2. — Management’s Discussion and Analysis of Financial Condition and Results of Operations			7
Item 4. — Controls and Procedures			11
Part II — Other Information:
Item 1A. — Risk Factors			8
Item 5. — Other Information			11
Item 6. — Exhibits			13
Exhibit 31.1
Exhibit 31.2
Exhibit 32.1

Part I — Financial Information

Item 1. — Financial Statements

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

		As of
		June 30				December 31
		2008				2007
		(Unaudited)
ASSETS
Current Assets
Cash		$	10,263,000			$	6,325,000
Accounts receivable, trade			1,434,000				1,413,000
Total Current Assets			11,697,000				7,738,000
Property and Equipment, at cost
Oil and gas properties (full cost method)			11,215,000				11,041,000
Rental equipment			399,000				399,000
Gas gathering systems			145,000				145,000
Other property and equipment			192,000				183,000
			11,951,000				11,768,000
Accumulated depreciation and amortization			(6,227,000	)			(5,902,000	)
Total Property and Equipment, net			5,724,000				5,866,000
Real Estate Property, at cost
Land			688,000				688,000
Commercial office building			1,549,000				1,542,000
Accumulated depreciation			(251,000	)			(204,000	)
Total Real Estate Property, net			1,986,000				2,026,000
Other Assets			1,000				1,000
Total Assets		$	19,408,000			$	15,631,000

The accompanying notes are an integral part of these statements.

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS — (Continued)

		As of
		June 30				December 31
		2008				2007
		(Unaudited)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Notes payable, current portion		$	120,000			$	120,000
Accounts payable and accrued liabilities			3,114,000				2,272,000
Income tax payable			371,000				8,000
Tax savings benefit payable			97,000				97,000
Total current liabilities			3,702,000				2,497,000
Noncurrent Liabilities
Notes payable, long-term portion			1,140,000				1,200,000
Asset retirement obligation			648,000				564,000
			1,788,000				1,764,000
Deferred income tax payable			2,209,000				1,855,000
Shareholders’ Equity
Common stock, $.01 par value; 100,000,000 shares authorized; 7,677,471 shares issued and 7,610,803 shares outstanding at June 30, 2008; 7,677,471 shares issued and 7,610,803 shares outstanding at December 31, 2007			77,000				77,000
Additional paid-in capital			874,000				874,000
Treasury Stock			(32,000	)			(32,000	)
Retained earnings			10,790,000				8,596,000
Total Shareholders’ Equity			11,709,000				9,515,000
Total Liabilities and Shareholders’ Equity		$	19,408,000			$	15,631,000

The accompanying notes are an integral part of these statements.

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

(Unaudited)

		Six Months Ended								Three Months Ended
		June 30				June 30				June 30				June 30
		2008				2007				2008				2007
Revenues
Oil and gas revenue		$	6,389,000			$	2,976,000			$	3,272,000			$	1,851,000
Revenue from lease operations			106,000				98,000				59,000				62,000
Gas gathering, compression and Equipment rental			74,000				72 000				34,000				47,000
Real estate rental income			257,000				250,000				126,000				125,000
Interest income			97,000				156,000				23,000				71,000
Other			40,000				25,000				39,000				4,000
Total revenue			6,963,000				3,577,000				3,553,000				2,160,000
Expenses
Lease operations			1,646,000				836,000				997,000				541,000
Pipeline and rental operations			8,000				14,000				2,000				2,000
Real estate operations			143,000				102,000				77,000				36,000
Depreciation, depletion and amortization			372,000				290,000				187,000				154,000
Asset retirement obligation accretion			12,000				17,000				6,000				8,000
General and administrative			1,333,000				981,000				763,000				533,000
Interest expense			40,000				55,000				20,000				22,000
Total Expenses			3,554,000				2,295,000				2,052,000				1,296,000
Income Before Income Tax			3,409,000				1,282,000				1,501,000				864,000
Current tax provision			861,000				288,000				540,000				177,000
Deferred tax provision			354,000				264,000				(56,000	)			173,000
			1,215,000				552,000				484,000				350,000
Net Income		$	2,194,000			$	730,000			$	1,017,000			$	514,000
Earnings per Share of Common Stock
Basic and diluted		$	0.29			$	0.10			$	0.13			$	0.07
Weighted Average Shares Outstanding
Basic and diluted			7,610,803				7,599,339				7,610,803				7,599,339

The accompanying notes are an integral part of these statements.

SPINDLETOP OIL & GAS CO AND SUBSIDIARIES

(Unaudited)

		Six Months Ended
		June 30				June 30
		2008				2007
Cash Flows from Operating Activities
Net Income		$	2,194,000			$	730,000
Reconciliation of net income to net cash provided by Operating Activities
Depreciation, depletion and amortization			372,000				290,000
Employee compensation paid with treasury stock			—				11,000
Changes in prepaid expense			—				60,000
Changes in accounts receivable			(21,000	)			(6,000	)
Changes in prepaid income taxes			—				288,000
Changes in accounts payable			842,000				(495,000	)
Changes in current taxes payable			363,000				—
Changes in deferred tax payable			354,000				264,000
Changes in asset retirement obligation			84,000				6,000
Other			—				(1,000	)
Net cash provided by operating activities			4,188,000				1,147,000
Cash flows from Investing Activities
Capitalized acquisition, exploration and development costs			(174,000	)			(758,000	)
Purchase of property and equipment			(9,000	)			—
Capitalized tenant improvements			(7,000	)			(33,000	)
Net cash used for investing activities			(190,000	)			(791,000	)
Cash Flows from Financing Activities
Decrease in notes payable			(60,000	)			(60,000	)
Net cash used for Financing activities			(60,000	)			(60,000	)
Increase in cash			3,938,000				296,000
Cash at beginning of period			6,325,000				5,759,000
Cash at end of period		$	10,263,000			$	6,055,000
Interest paid in Cash		$	40,211			$	43,697
Income taxes paid		$	500,000			$	—

The accompanying notes are an integral part of these statements.

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

(Unaudited)

1. BASIS OF PRESENTATION AND ORGANIZATION

The accompanying financial statements are presented in accordance with the requirements of Form 10-Q and consequently do not include all of the disclosures normally required by generally accepted accounting principles or those normally made in the Company’s annual Form 10-K filing. Accordingly, the reader of this Form 10-Q may wish to refer to the Company’s Form 10-K for the year ended December 31, 2007 for further information.

The consolidated financial statements presented herein include the accounts of Spindletop Oil & Gas Co., a Texas corporation (“the Company”) and its wholly owned subsidiaries, Prairie Pipeline Co., a Texas corporation and Spindletop Drilling Company, a Texas Corporation. All significant inter-company transactions and accounts have been eliminated.

In the opinion of management, the accompanying unaudited interim financial statements contain all material adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial condition, the results of operations and changes in cash flows of the Company and its consolidated subsidiaries for the interim periods presented. Although the Company believes that the disclosures are adequate to make the information presented not misleading, certain information and footnote disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with generally accepted accounting principles generally accepted in the United States of America, have been condensed or omitted pursuant to such rules and regulations.

Item 2. — Management’s Discussion and Analysis of Financial Condition and Results of Operations

WARNING CONCERNING FORWARD LOOKING STATEMENTS

The following discussion should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this report.

This Report on Form 10-Q may contain forward-looking statements within the meaning of the federal securities laws, principally, but not only, under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” We caution investors that any forward-looking statements in this report, or which management may make orally or in writing from time to time, are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “expect,” “intend,” “may,” “might,” “plan,” “estimate,” “project,” “should,” “will,” “result” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We caution you that while forward-looking statements reflect our good faith beliefs when we make them, they are not guarantees of future performance and are impacted by actual events when they occur after we make such statements. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

Some of the risks and uncertainties that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, among others, the factors listed and described at Item 1A “Risk Factors” in the Company’s Annual Report on Form 10-K, which investors should review. There have been no changes from the risk factors previously described in the Company’s Form 10-K for the fiscal year ended December 31, 2007 (the “Form 10-K”).

Other sections of this report may also include suggested factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risks may emerge from time to time and it is not possible for management to predict all such matters; nor can we assess the impact of all such matters on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Investors should also refer to our quarterly reports on Form 10-Q for future periods and current reports on Form 8-K as we file them with the SEC, and to other materials we may furnish to the public from time to time through Forms 8-K or otherwise.

Results of Operations

Six months ended June 30, 2008 compared to six months ended June 30, 2007

Oil and gas revenues for the first half of 2008 were $6,389,000, an increase of $3,413,000 over revenues from the same period in 2007.

Natural gas revenues for the first six months of 2008 were $5,197,000 compared to $2,284,000 for the same period in 2007, an increase of $2,913,000, or 128%. Natural gas volumes for the first half of 2008 were approximately 679,000 mcf compared to approximately 349,000 mcf during the first half of 2007, an increase of approximately 330,000 mcf, or 95 %. This increase was due to the addition of five new Barnett Shale wells that started producing gas during the third quarter of 2007 through the first half of 2008.

Average natural gas prices received were $8.84 per mcf in the first half of 2008 as compared to $6.55 per mcf in the first half of 2007, an increase of approximately 35%.

Oil sales for the first six months of 2008 were approximately $1,192,000 compared to approximately $692,000 in the first six months of 2007, an increase of approximately $500,000 or 72%. Oil volumes for the first six months of 2008 were approximately 13,000 bbls compared to approximately 12,000 bbls during the first six months of 2007, an increase of approximately 1,000 bbls, or 8%.

Average oil prices received were $96.55 per bbl in the first half of 2008 compared to $56.68 per bbl in the first half of 2007, an increase of approximately 70%.

Interest income for the first half of 2008 was $97,000 as compared with $156,000 for the same period in 2007, a decrease of $59,000. The amount of cash invested in certificates of deposit compared to the previous year was not as large, and interest rates for certificates of deposit reinvested during 2008 were generally lower than those in 2007.

Lease operations in the first half of 2008 were $1,646,000 as compared to $836,000 for the same period in 2007, an increase of approximately $810,000, or 97%. Approximately $345,000 of this increase is attributable to several new Barnett Shale horizontal gas wells located in Parker County, Texas which were placed into production subsequent to the first half of 2007. Another $110,000 of the increase was due to remedial activity on our Titus County, Texas wells in 2008 to return several shut-in wells to production. The remaining net increase in operating expenses is due to the overall increase for oil field services, equipment, and labor as well as additional remedial repair projects that are in addition to normal operating expenses.

Depreciation, depletion, and amortization for the first half of 2008 was $372,000 as compared to $290,000 for the same period in 2007, an increase of $82,000, or 28%. The company re-evaluated its proved oil and gas reserve quantities as of December 31, 2007, and increased its depletion rate for 2008 to 5.883% of the total capitalized cost of oil and gas properties (the “full cost pot”), as compared to a rate of 5.041% used at December 31, 2006 and the first three quarters in 2007. In addition, the undepleted amount of the full cost pot increased from approximately $8,275,000 at the end of the second quarter of 2007, to approximately $10,566,000 at the end of the second quarter of 2008. The increased basis of the full cost pot and the increased depletion rate resulted in the increased depreciation, depletion, and amortization amount.

General and administrative costs for the first half of 2008 were $1,333,000 compared to $981,000 for the same period in 2007, an increase of $352,000 or 36%. This increase is due mainly to payroll costs and associated employee benefit costs. Personnel costs and benefits accounted for $993,000 of the total general and administrative cost in 2008 compared to $656,000 in 2007, an increase of $337,000 or 51%. This was due to the addition of several full-time employees during 2008 and the last half of 2007.

Interest expense was approximately $40,000 for the first half of 2008 compared to approximately $55,000 for the same period in 2007, a decrease of approximately $15,000. This is due to the continued reduction of the principal amount of the loan on the building as interest on the note is calculated and paid based on the unpaid balance of the loan.

Three months ended June 30, 2008 compared to three months ended June 30, 2007

Oil and gas revenues for the three months ended June 30, 2008 were $3,272,000, an increase of $1,421,000 over revenues of $1,851,000 from the same period in 2007.

Natural gas revenues for the second quarter of 2008 were $2,549,000 compared to $1,460,000 for the same period in 2007, an increase of $1,089,000, or 75%. Natural gas volumes for the second quarter of 2008 were approximately 312,000 mcf compared to approximately 202,000 mcf during the same period of 2007, an increase of approximately 110,000 mcf, or 54%. This increase was due primarily to the addition of five new Barnett Shale wells that started producing during the third quarter of 2007 through the first half of 2008.

Average natural gas prices received were $10.20 per mcf in the second quarter of 2008 as compared to $6.75 per mcf in same period of 2007, an increase of approximately 51%.

Oil sales for the second quarter of 2008 were approximately $723,000 compared to approximately $391,000 for the same period of 2007, an increase of approximately $332,000 or 85%. Oil volumes for the second quarter of 2008 were approximately 6,500 bbls compared to a similar production of approximately 6,500 bbls during the same period of 2007.

Average oil prices received were $110.26 per bbl in the second quarter of 2008 compared to $59.48 per bbl in the same period of 2007, an increase of approximately 85%.

Interest income for the second quarter of 2008 was $23,000 as compared with $71,000 for the same period in 2007, a decrease of $48,000. The amount of cash invested in certificates of deposit compared to the previous year was not as large, and interest rates for certificates of deposit reinvested during 2008 were generally lower than those in 2007.

Lease operations in the second quarter of 2008 were $997,000 as compared to $541,000 for the same period in 2007, an increase of approximately $456,000, or 84%. Approximately $181,000 of this increase is attributable to several new Barnett Shale horizontal gas wells located in Parker County, Texas which were placed into production subsequent to the first half of 2007. Another $87,000 of the increase was due to remedial activity on our Titus County, Texas wells in 2008 to return several shut-in wells to production. The remaining net increase in operating expenses is due to the overall increase for oil field services, equipment, and labor as well as additional remedial repair projects that are in addition to normal operating expenses.

Depreciation, depletion, and amortization for the second quarter of 2008 was $187,000 as compared to $154,000 for the same period in 2007, an increase of $33,000, or 21%. The company re-evaluated its proved oil and gas reserve quantities as of December 31, 2007, and increased its depletion rate for 2008 to 5.883% of the total capitalized cost of oil and gas properties (the “full cost pot”), as compared to a rate of 5.041% used at December 31, 2006 and the first three quarters in 2007. In addition, the undepleted amount of the full cost pot increased from approximately $8,275,000 at the end of the second quarter of 2007, to approximately $10,566,000 at the end of the second quarter of 2008. The increased basis of the full cost pot and the increased depletion rate resulted in the increased depreciation, depletion, and amortization amount.

General and administrative costs for the second quarter of 2008 were $763,000 compared to $533,000 for the same period in 2007, an increase of $230,000 or 43%. This increase is due mainly to payroll costs and associated employee benefit costs. Personnel costs and benefits accounted for $550,000 of the total general and administrative costs during the second quarter of 2008 compared to $330,000 in 2007, an increase of $220,000 or 67%. This was due to the addition of several full-time employees during 2008 and the last half of 2007.

Financial Condition and Liquidity

The Company’s operating capital needs, as well as its capital spending program are generally funded from cash flow generated by operations. Because future cash flow is subject to a number of variables, such as the level of production and the sales price of oil and natural gas, the Company can provide no assurance that its operations will provide cash sufficient to maintain current levels of capital spending. Accordingly, the Company may be required to seek additional financing from third parties in order to fund its exploration and development programs.

Item 4. — Controls and Procedures

(a) As of the end of the period covered by this report, Spindletop Oil & Gas Co. carried out an evaluation, under the supervision and with the participation of the Company’s management, including the Company’s Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures pursuant to Exchange Act Rule 13a-15 and 15d-15. Based upon the evaluation, the Company’s Principal Executive Officer and Principal Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of the end of the period covered by the report.

(b) There have been no changes in the Company’s internal controls over financial reporting during the quarter ended June 30, 2008 that have materially affected, or are reasonably likely to materially affect the Company’s internal controls over financial reporting.

Part II — Other Information

Item 5. — Other Information

Joint Drilling Development of North Texas Barnett Shale Leasehold

During the fourth quarter of 2007, the Company drilled two wells under its joint Barnett Shale horizontal drilling development program with an unrelated third party. The Buxton G.U. #1H well is located on our Weatherford W. Block and the Fuller G.U. #1 well is located on our Weatherford SW Block. The Buxton G.U. #1H well was drilled to a measured depth of 8,850 ft and began production of natural gas on June 3, 2008. The well is currently producing gas at an average rate of 350 mcfgpd. The Company owns a 50% working interest in this well.

The Fuller G.U. #1H well was drilled to a measured depth of 9,076 ft. and was completed in the Barnett Shale. The well was fractured and it is believed that the fracture stimulation communicated with the underlying Ellenburger Formation based on the large volume of high chloride water flowed back and tested. The well is currently shut-in awaiting further work. The Company owns a 50% working interest in this well.

During the first quarter of 2008, the McKeon G.U. #1H well, located on our Peaster, SW Block in the northwest quarter of Parker County, Texas was drilled to a measured depth of 9,329 feet and cased. Production of natural gas began on June 13, 2008. The well has produced approximately 43,711 mcfg through July 30 and is currently producing gas at an average rate of approximately 400 mcfgpd. The Company owns a 50% working interest in this well.

West Texas

In the second quarter of 2008, the Company initiated a recompletion on one of its existing wells in Ward County, Texas on its Pyote Block. The Company is attempting to deepen its University “K” well to a depth of approximately 14,500’. The Company worked on this well for a period of four months during the second and third quarters of 2008. The primary objective could not be reached due to the Company’s inability to remove or drill through unexpected oilfield tools that were encountered deep in the wellbore. The Company recompleted the well in some shallower secondary objectives. The well was recently placed back into production and is currently being test pumped. The Company owns a 100% working interest in this well.

Item 6. — Exhibits

The following exhibits are filed herewith or incorporated by reference as indicated.

Exhibit
Designation				Exhibit Description
	3.1	(a)		Amended Articles of Incorporation of Spindletop Oil & Gas Co. (Incorporated by reference to Exhibit 3.1 to the General Form for Registration of Securities on Form 10, filed with the Commission on August 14, 1990).
	3.2			Bylaws of Spindletop Oil & Gas Co. (Incorporated by reference to Exhibit 3.2 to the General Form for Registration of Securities on Form 10, filed with the Commission on August 14, 1990).
	31.1	*		Certification pursuant to Rules 13a-14 and 15d under the Securities Exchange Act of 1934.
	31.2	*		Certification pursuant to Rules 13a-14 and 15d under the Securities Exchange Act of 1934.
	32.1	*		Certification pursuant to 18 U.S.C. Section 1350.

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 thereunto duly authorized.

		SPINDLETOP OIL & GAS CO.
		(Registrant)
Date: November 20, 2008		By:		/s/ Chris G. Mazzini   Chris G. Mazzini
				President, Chief Executive Officer
Date: November 20, 2008		By:		/s/ Michelle H. Mazzini   Michelle H. Mazzini
				Vice President, Secretary
Date: November 20, 2008		By:		/s/ Robert E. Corbin   Robert E. Corbin
				Controller, Principal Financial Officer

Exhibit Index

Exhibit
Designation				Exhibit Description
	3.1	(a)		Amended Articles of Incorporation of Spindletop Oil & Gas Co. (Incorporated by reference to Exhibit 3.1 to the General Form for Registration of Securities on Form 10, filed with the Commission on August 14, 1990).
	3.2			Bylaws of Spindletop Oil & Gas Co. (Incorporated by reference to Exhibit 3.2 to the General Form for Registration of Securities on Form 10, filed with the Commission on August 14, 1990).
	31.1	*		Certification pursuant to Rules 13a-14 and 15d under the Securities Exchange Act of 1934.
	31.2	*		Certification pursuant to Rules 13a-14 and 15d under the Securities Exchange Act of 1934.
	32.1	*		Certification pursuant to 18 U.S.C. Section 1350.