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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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) June 29, 2007
CONTANGO OIL & GAS COMPANY
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE 001-16317 95-4079863
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3700 BUFFALO SPEEDWAY, SUITE 960
HOUSTON, TEXAS 77098
(Address of principal executive offices)
(713) 960-1901
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On June 29, 2007, Kenneth R. Peak, Chairman and CEO of Contango Oil & Gas
Company (the "Company"), approved the bonus amounts for the fiscal year ended
June 30, 2007 and increased the annual base salary for the following executive
officers of the Company:
Name of Officer Fiscal Year 2007 Bonus New Annual Salary Effective Date
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Marc Duncan $ 350,000 $ 250,000 July 1, 2007
Lesia Bautina $ 300,000 $ 250,000 July 1, 2007
Sergio Castro $ 125,000 $ 200,000 July 1, 2007
The officers shown above include individuals who will be listed as named
executive officers in the Company's proxy statement to be filed in connection
with its 2007 annual meeting of stockholders. In addition, on June 29, 2007, the
Company's Board of Directors approved Mr. Peak's bonus amount for the fiscal
year ended June 30, 2007 at $800,000. Mr. Peak's annual salary for fiscal year
2008 will remain at $150,000.
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 hereunto duly authorized.
CONTANGO OIL & GAS COMPANY
Date: July 6, 2007 By: /s/ KENNETH R. PEAK
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Kenneth R. Peak
Chairman and Chief Executive Officer
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