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)
January 30, 2007 (January 24, 2007)
Blue Dolphin Energy Company
(Exact name of registrant as specified in its charter)
Delaware 0-15905 73-1268729
(State or other jurisdiction (Commission file number) (I.R.S. Employer
of incorporation) Identification No.)
801 Travis, Suite 2100, Houston, Texas 77002
(Address of principal executive offices) (Zip code)
(713) 227-7660
(Registrant's telephone number, including area code)
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:
|_| Written communication 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))
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
On January 24, 2007, Ivar Siem, Chairman and Chief Executive Officer,
Michael J. Jacobson, President, and Gregory W. Starks, Vice President, Treasurer
and Secretary, entered into the company's standard form of Indemnification
Agreement. On January 25, 2007, the following members of the company's Board of
Directors, Laurence N. Benz, Michael S. Chadwick and Erik Ostbye, entered into
the company's standard form of Indemnification Agreement. On January 26, 2007,
John N. Goodpasture and Harris A. Kaffie, members of the company's Board of
Directors, entered into the company's standard form of Indemnification
Agreement. These agreements do not increase the extent or scope of
indemnification provided to directors and executive officers under the company's
Amended and Restated Certificate of Incorporation or Amended and Restated
Bylaws. These agreements provide for indemnification of each director and
executive officer for expenses, judgments, fines and settlement amounts incurred
by them in certain circumstances and upon certain conditions. These agreements
also establish procedures and other agreements pertaining to such obligations of
the company and include other provisions that the company believes are
customary. The foregoing description of the Indemnification Agreements is
qualified in its entirety by reference to the text of the form of
Indemnification Agreement, which was filed as Exhibit 99.1 to the company's
Current Report on Form 8-K filed with the Securities and Exchange Commission on
November 17, 2006, and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
99.1 Form of Indemnification Agreement. (Incorporated by reference
from Blue Dolphin Energy Company's Current Report on Form 8-K
filed on November 17, 2006.)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Date: January 30, 2007
BLUE DOLPHIN ENERGY COMPANY
By: /s/ GREGORY W. STARKS
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Gregory W. Starks
Vice President, Treasurer, Secretary