Harbinger Group Inc.
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SEC Filings

10-K
HRG GROUP, INC. filed this Form 10-K on 12/29/1994
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<PAGE>
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED)
 
NOTE 13. RELATED PARTY TRANSACTIONS--(CONTINUED)
 
  During 1994 and 1993, Zapata received $104,000 and $31,000, respectively,
from Norex associated with an administrative services arrangement pursuant to
which Zapata provided office space and certain administrative services to
Norex. See Note 6 for additional transactions with Norex.
 
NOTE 14. OIL AND GAS OPERATIONS (UNAUDITED)
 
  The following information concerning Zapata's oil and gas operations has been
prepared in accordance with Statement of Financial Accounting Standards No. 69,
"Disclosures about Oil and Gas Producing Activities," ("SFAS No. 69") and
applicable Securities and Exchange Commission (the "SEC") regulations.
 
  The information concerning capitalized costs of oil and gas properties, costs
incurred in property acquisition, exploration and development, and operating
results from oil and gas producing activities is taken from Zapata's accounting
records with the exception of income taxes. Income tax provisions are
calculated using statutory tax rates and reflect permanent differences and tax
credits and allowances relating to oil and gas operations that are reflected in
the Company's consolidated income tax provision for each period. The pretax
income from oil and gas producing activities does not agree with the oil and
gas operations operating income in the industry segment information in Note 15
due to the exclusion of certain nonoperating expenses from the information
shown as required by SFAS No. 69.
 
                  CAPITALIZED COSTS OF OIL AND GAS PROPERTIES
 

<TABLE>
<CAPTION>
                                                         UNITED
                                                         STATES  BOLIVIA  TOTAL
                                                         ------- ------- -------
                                                             (IN THOUSANDS)
<S>                                                      <C>     <C>     <C>
1994
Capitalized costs
 Evaluated properties................................... $74,872 $2,195  $77,067
Accumulated depreciation, depletion and amortization....  60,794     55   60,849
                                                         ------- ------  -------
Net capitalized costs................................... $14,078 $2,140  $16,218
                                                         ======= ======  =======
1993
Capitalized costs
 Evaluated properties................................... $65,274         $65,274
Accumulated depreciation, depletion and amortization....  27,078          27,078
                                                         -------         -------
Net capitalized costs................................... $38,196         $38,196
                                                         =======         =======
</TABLE>

 
 
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