Annual Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 11-K Annual Report of an Employee Stock Purchase, 14 69K
Savings or Similar Plan
2: EX-23.1 Consent of Experts or Counsel 1 5K
11-K — Annual Report of an Employee Stock Purchase, Savings or Similar Plan
Document Table of Contents
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________________________
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [FEE REQUIRED]
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from to
COMMISSION FILE NUMBER: 1-11675
Full title of the plan and the address of the plan, if different from that of
the issuer named below:
TRITON EXPLORATION SERVICES, INC.
401(K) SAVINGS PLAN
Name of issuer of the securities held pursuant to the plan and the address of
its principal executive office:
TRITON ENERGY LIMITED
CALEDONIAN HOUSE
MARY STREET
P.O. BOX 1043
GEORGE TOWN, GRAND CAYMAN
CAYMAN ISLANDS
Required Information
---------------------
(a) Financial Statements.
See "Index to Financial Statements" on page F-1.
(b) Exhibit.
The following document is an exhibit to this Form 11-K:
Exhibit
Number Document
------ --------
23.1
Consent of Price Waterhouse LLP, filed herewith.
TRITON EXPLORATION SERVICES, INC. 401(K) SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS
AND SUPPLEMENTAL SCHEDULES
[Download Table]
Page
----
Financial statements:
Report of Independent Accountants F-2
Statement of Net Assets Available for Benefits, with Fund Information at
December 31, 1997 F-3
Statement of Net Assets Available for Benefits, with Fund Information at
December 31, 1996 F-4
Statement of Changes in Net Assets Available for Benefits,
with Fund Information for the Year Ended December 31, 1997 F-5
Notes to Financial Statements F-6
Supplemental schedules:
Schedule I - Investments at December 31, 1997 F-10
Schedule II - Transactions in Excess of 5% of the
Fair Market Value of the Plan Assets for
the Year Ended December 31, 1997 F-11
REPORT OF INDEPENDENT ACCOUNTANTS
To the Participants and Administrator
of the Triton Exploration Services, Inc. 401(k) Savings Plan
In our opinion, the accompanying statements of net assets available for
benefits, with fund information, and the related statement of changes in net
assets available for benefits, with fund information, present fairly, in all
material respects, the net assets available for benefits of the Triton
Exploration Services, Inc. 401(k) Savings Plan at December 31, 1997 and 1996,
and the changes in net assets available for benefits for the year ended
December 31, 1997, in conformity with generally accepted accounting
principles. These financial statements are the responsibility of the plan's
management; our responsibility is to express an opinion on these financial
statements based on our audits. We conducted our audits of these statements
in accordance with generally accepted auditing standards which require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and
significant estimates made by management, and evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for the opinion expressed above.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The additional information included in
schedules I and II is presented for purposes of additional analysis and is not
a required part of the basic financial statements but is additional
information required by ERISA. The Fund Information in the statement of net
assets available for benefits and the statement of changes in net assets
available for benefits is presented for purposes of additional analysis rather
than to present the net assets available for plan benefits and changes in net
assets available for benefits of each fund. Schedules I and II and the Fund
Information have been subjected to the auditing procedures applied in the
audits of the basic financial statements and, in our opinion, are fairly
stated in all material respects in relation to the basic financial statements
taken as a whole.
PRICE WATERHOUSE LLP
Dallas, Texas
June 26, 1998
TRITON EXPLORATION SERVICES, INC.
401(K) SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
DECEMBER 31, 1997
[Enlarge/Download Table]
FUND INFORMATION
-------------------------------------------------------------------------------------------
LARGE LARGE SMALL
GOVERNMENT LONG TERM CAPITALIZATION CAPITALIZATION CAPITALIZATION
MONEY BOND VALUE EQUITY GROWTH GROWTH
FUND FUND FUND* FUND* FUND
---------------- --------- --------------- -------------- --------------
Assets
Investments, at fair value
Triton Energy Limited ordinary shares $ --- $ --- $ --- $ --- $ ---
International equity investments fund --- --- --- --- ---
Large capitalization value equity fund --- --- 1,356,836 --- ---
Large capitalization growth fund --- --- --- 1,644,776 ---
Small capitalization growth fund --- --- --- --- 186,905
Government money fund 225,598 --- --- --- ---
Long term bond fund --- 433,025 --- --- ---
Participant loans --- --- --- --- ---
Cash and equivalents 379 632 1,852 1,835 552
---------------- ---------- --------------- --------------- ---------------
Total investments 225,977 433,657 1,358,688 1,646,611 187,457
---------------- ---------- --------------- --------------- ---------------
Receivables
Employer's contributions 1,277 2,495 9,956 13,107 3,899
Participants' contributions 1,588 3,362 13,729 17,576 5,909
Other 1,258 --- --- --- 575
---------------- ---------- --------------- --------------- ---------------
Total receivables 4,123 5,857 23,685 30,683 10,383
---------------- ---------- --------------- --------------- ---------------
Total assets 230,100 439,514 1,382,373 1,677,294 197,840
Liabilities
Accounts payable --- 292 651 326 ---
---------------- ---------- --------------- --------------- ---------------
Net assets available for plan benefits $ 230,100 $ 439,222 $ 1,381,722 $ 1,676,968 $ 197,840
================ ========== =============== =============== ===============
FUND INFORMATION
------------------------------
INTERNATIONAL
EQUITY TRITON
INVESTMENTS STOCK PARTICIPANT CASH AND
FUND* FUND* LOANS EQUIVALENTS TOTAL
-------------- ----------- ----------- ----------- -----------
Assets
Investments, at fair value
Triton Energy Limited ordinary shares $ --- $4,026,084 $ --- $ --- $4,026,084
International equity investments fund 594,026 --- --- --- 594,026
Large capitalization value equity fund --- --- --- --- 1,356,836
Large capitalization growth fund --- --- --- --- 1,644,776
Small capitalization growth fund --- --- --- --- 186,905
Government money fund --- --- --- --- 225,598
Long term bond fund --- --- --- --- 433,025
Participant loans --- --- 377,451 --- 377,451
Cash and equivalents 1,292 3,997 --- 114,494 125,033
-------------- ----------- ----------- ------------ -----------
Total investments 595,318 4,030,081 377,451 114,494 8,969,734
-------------- ----------- ----------- ------------ -----------
Receivables
Employer's contributions 4,503 11,619 --- (46,856) ---
Participants' contributions 6,723 14,883 --- (63,770) ---
Other 25 2,262 --- (2,635) 1,485
-------------- ----------- ---------- ------------ -----------
Total receivables 11,251 28,764 --- (113,261) 1,485
-------------- ----------- ---------- ------------ -----------
Total assets 606,569 4,058,845 377,451 1,233 8,971,219
Liabilities
Accounts payable --- --- --- 1,233 2,502
-------------- ----------- ---------- ------------ -----------
Net assets available for plan benefits $ 606,569 $4,058,845 $ 377,451 $ --- $8,968,717
============== =========== ========== ============ ===========
* Denotes an investment representing 5% or more of net assets available for benefits.
See accompanying notes to financial statements.
TRITON EXPLORATION SERVICES, INC.
401(K) SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
DECEMBER 31, 1996
[Enlarge/Download Table]
FUND INFORMATION
-------------------------------------------------------------------------------------------
LARGE LARGE SMALL
GOVERNMENT LONG TERM CAPITALIZATION CAPITALIZATION CAPITALIZATION
MONEY BOND VALUE EQUITY GROWTH VALUE EQUITY
FUND FUND FUND* FUND* FUND
---------------- --------- --------------- -------------- --------------
Assets
Investments, at fair value
Triton Energy Limited ordinary shares $ --- $ --- $ --- $ --- $ ---
International equity investments fund --- --- --- --- ---
Large capitalization value equity fund --- --- 834,419 --- ---
Large capitalization growth fund --- --- --- 1,134,577 ---
Small capitalization value equity fund --- --- --- --- 71,071
Government money fund 146,388 --- --- --- ---
Long term bond fund --- 202,186 --- --- ---
Participant loans --- --- --- --- ---
Cash and equivalents 524 366 1,101 1,226 117
---------------- ---------- --------------- --------------- ---------------
Total investments 146,912 202,552 835,520 1,135,803 71,188
---------------- ---------- --------------- --------------- ---------------
Receivables
Employer's contributions 1,502 1,741 7,846 10,602 2,290
Participants' contributions 1,915 2,365 10,329 13,977 3,378
Other 1,767 --- --- --- ---
---------------- ---------- --------------- --------------- ---------------
Total receivables 5,184 4,106 18,175 24,579 5,668
---------------- ---------- --------------- --------------- ---------------
Total assets 152,096 206,658 853,695 1,160,382 76,856
Liabilities
Accounts payable --- --- --- --- ---
---------------- ---------- --------------- --------------- ---------------
Net assets available for plan benefits $ 152,096 $ 206,658 $ 853,695 $ 1,160,382 $ 76,856
================ ========== =============== =============== ===============
FUND INFORMATION
------------------------------
INTERNATIONAL
EQUITY TRITON
INVESTMENTS STOCK PARTICIPANT CASH AND
FUND* FUND* LOANS EQUIVALENTS TOTAL
-------------- ----------- ----------- ----------- -----------
Assets
Investments, at fair value
Triton Energy Limited ordinary shares $ --- $6,224,781 $ --- $ --- $6,224,781
International equity investments fund 564,775 --- --- --- 564,775
Large capitalization value equity fund --- --- --- --- 834,419
Large capitalization growth fund --- --- --- --- 1,134,577
Small capitalization value equity fund --- --- --- --- 71,071
Government money fund --- --- --- --- 146,388
Long term bond fund --- --- --- --- 202,186
Participant loans --- --- 298,541 --- 298,541
Cash and equivalents 929 12,545 --- 102,540 119,348
-------------- ----------- ----------- ------------ -----------
Total investments 565,704 6,237,326 298,541 102,540 9,596,086
-------------- ----------- ----------- ------------ -----------
Receivables
Employer's contributions 4,079 11,830 --- (39,890) ---
Participants' contributions 5,765 16,159 --- (53,888) ---
Other --- 2,529 --- (4,296) ---
-------------- ----------- ---------- ------------ -----------
Total receivables 9,844 30,518 --- (98,074) ---
-------------- ----------- ---------- ------------ -----------
Total assets 575,548 6,267,844 298,541 4,466 9,596,086
Liabilities
Accounts payable --- --- --- 4,466 4,466
-------------- ----------- ---------- ------------ -----------
Net assets available for plan benefits $ 575,548 $6,267,844 $ 298,541 $ --- $9,591,620
============== =========== ========== ============ ===========
* Denotes an investment representing 5% or more of net assets available for benefits.
See accompanying notes to financial statements.
TRITON EXPLORATION SERVICES, INC.
401(K) SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND
INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1997
[Enlarge/Download Table]
FUND INFORMATION
-----------------------------------------------------------------------------------
LARGE LARGE SMALL
GOVERNMENT LONG TERM CAPITALIZATION CAPITALIZATION CAPITALIZATION
MONEY BOND VALUE EQUITY GROWTH GROWTH
FUND FUND FUND FUND FUND
-------------- ------------ ---------------- -------------- ---------------
Additions to net assets attributed to:
Net appreciation (depreciation) in
fair value $ --- $ 15,850 $ 55,043 $ 233,780 $ 13,671
Dividends 8,697 16,115 234,528 111,781 12,048
Interest and other 510 393 570 1,690 296
-------------- ------------ ---------------- -------------- ---------------
Total investment income (loss) 9,207 32,358 290,141 347,251 26,015
---------------- ---------- -------------- ------------- ---------------
Contributions
Participants 94,256 52,329 187,869 245,807 87,036
Employer 19,484 23,313 114,914 154,951 50,205
-------------- ------------ ---------------- -------------- ---------------
Total contributions 113,740 75,642 302,783 400,758 137,241
-------------- ------------ ---------------- -------------- ---------------
Loans to participants --- --- --- --- ---
Participant loan payments 7,015 5,312 20,148 19,975 3,559
-------------- ------------ ---------------- -------------- ---------------
Total additions 129,962 113,312 613,072 767,984 166,815
-------------- ------------ ---------------- -------------- ---------------
Deductions from net assets attributed to:
Benefits paid 19,556 18,149 25,205 62,203 3,087
Loans to participants 17,583 5,965 45,038 35,334 1,859
Participant loan payments --- --- --- --- ---
Miscellaneous (2,544) --- --- --- ---
-------------- ------------ ---------------- -------------- ---------------
Total deductions 34,595 24,114 70,243 97,537 4,946
-------------- ------------ ---------------- -------------- ---------------
Net increase (decrease) prior to
interfund transfers 95,367 89,198 542,829 670,447 161,869
Interfund transfers (17,363) 143,366 (14,802) (153,861) (40,885)
-------------- ------------ ---------------- -------------- ---------------
Net increase (decrease) 78,004 232,564 528,027 516,586 120,984
Net assets available for plan benefits:
Beginning of year 152,096 206,658 853,695 1,160,382 76,856
-------------- ------------ ---------------- -------------- ---------------
End of year $ 230,100 $ 439,222 $ 1,381,722 $ 1,676,968 $ 197,840
============== ============ ================ ============== ===============
FUND INFORMATION
------------------------------------
INTERNATIONAL
EQUITY TRITON
INVESTMENTS STOCK PARTICIPANT
FUND FUND LOANS TOTAL
--------------- ------------ ----------- -----------
Additions to net assets attributed to:
Net appreciation (depreciation) in
fair value $ (8,156) $(2,588,671) $ --- $(2,278,483)
Dividends 6,759 --- --- 389,928
Interest and other 764 --- 32,915 37,138
--------------- ------------ ----------- ------------
Total investment income (loss) (633) (2,588,671) 32,915 (1,851,417)
--------------- ------------ ----------- ------------
Contributions
Participants 113,739 284,065 --- 1,065,101
Employer 83,280 197,097 --- 643,244
--------------- ------------ ----------- ------------
Total contributions 197,019 481,162 --- 1,708,345
--------------- ------------ ----------- ------------
Loans to participants --- --- 171,317 171,317
Participant loan payments 14,063 50,843 --- 120,915
--------------- ------------ ----------- ------------
Total additions 210,449 (2,056,666) 204,232 149,160
--------------- ------------ ----------- ------------
Deductions from net assets attributed to:
Benefits paid 13,992 335,776 4,407 482,375
Loans to participants 13,463 52,075 --- 171,317
Participant loan payments --- --- 120,915 120,915
Miscellaneous --- --- --- (2,544)
--------------- ------------ ----------- ------------
Total deductions 27,455 387,851 125,322 772,063
--------------- ------------ ----------- ------------
Net increase (decrease) prior to
interfund transfers 182,994 (2,444,517) 78,910 (622,903)
Interfund transfers (151,973) 235,518 --- ---
--------------- ------------ ----------- ------------
Net increase (decrease) 31,021 (2,208,999) 78,910 (622,903)
Net assets available for plan benefits:
Beginning of year 575,548 6,267,844 298,541 9,591,620
--------------- ------------ ----------- ------------
End of year $ 606,569 $ 4,058,845 $ 377,451 $ 8,968,717
=============== ============ ============ ============
See accompanying notes to financial statements.
TRITON EXPLORATION SERVICES, INC.
401(K) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1. DESCRIPTION OF THE PLAN
The following description of the Triton Exploration Services, Inc. 40l(k)
Savings Plan (the "Plan") provides only general information. Participants
should refer to the Plan documents for a more complete description of the Plan
provisions.
GENERAL
The Plan, as amended and restated January 1, 1994, is a successor to the
Triton Energy Corporation Employee Stock Ownership Plan ("ESOP") which was
originally effective as of May 31, 1976. All assets of the ESOP were
transferred to the Plan at January 1, 1994 at current value. Effective
January 1, 1997, the Plan's sponsorship changed from Triton Energy Corporation
to Triton Exploration Services, Inc. and the Plan name changed from the Triton
Energy Corporation 401(k) Savings Plan to the Triton Exploration Services,
Inc. 401(k) Savings Plan. The Plan is a defined contribution plan covering
all employees of Triton Exploration Services, Inc. (the "Company") and
employees of affiliated companies adopting the Plan. The Plan is subject to
the provisions of the Employee Retirement Income Security Act of 1974
("ERISA").
The Plan covers all employee classifications except leased and temporary
employees and members of a legally recognized collective bargaining unit who
are not expressly granted permission to participate. Employees are
automatically enrolled on January 1st, April 1st, July 1st or October 1st
which coincides with or next follows an employee's employment commencement
date.
The Plan is administered by an administrative committee appointed by the Board
of Directors of the Company. The Plan's investments are held by a trust fund
administered by SBS Trust Company.
2. ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The accompanying financial statements have been prepared on the accrual basis
of accounting. The trustee holds and manages the funds and distributes cash
and stock to the Plan participants.
The assets of the Government Money Fund, Long Term Bond Fund, Large
Capitalization Value Equity Fund, Large Capitalization Growth Fund, Small
Capitalization Growth Fund and International Equity Investments Fund are
invested in separate funds managed by independent registered investment
advisors.
VALUATION OF INVESTMENTS
Investments are valued at current value based on quoted market prices except
for loans which are valued at cost which approximates fair value. Net
appreciation or depreciation of investments as reported in the statement of
changes in net assets available for plan benefits is calculated based on a
revalued cost method basis as required under ERISA guidelines.
THE USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities, disclosure of
contingent assets and liabilities at the date of the financial statements and
reported amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates.
INTERFUND TRANSFERS
Participants may change their percentage contributions and fund allocations
once per calendar quarter.
FORFEITURES
A participant forfeits any non-vested employer contributions upon termination
of employment for reasons other than retirement, death or disability.
Forfeitures are utilized to reduce the Company's matching contributions and
were $69,884 for 1997 and $21,511 for 1996.
PARTICIPANT LOANS
Loans outstanding aggregated $377,451 and $298,541 at December 31, 1997 and
1996, respectively, and bear interest at prime (8.5% at December 31, 1997)
plus two percent.
A participant may obtain a loan from all of his/her accounts. The maximum
amount that can be borrowed is equal to 50% of the participant's vested
account balance up to a maximum of $50,000. Participants may borrow general
purpose loans with payment terms up to five years and primary residence loans
with payment terms up to 15 years. Both the principal and interest portions
of the repayments are allocated by current election.
EXPENSES
Costs and expenses incurred in administering the Plan, excluding certain fees
and expenses of the trustee and investment manager, are borne by the Company.
3. PLAN PARTICIPATION AND WITHDRAWALS
There were approximately 163 participants contributing to the Plan at December
31, 1997 (165 at December 31, 1996). A participating employee may invest his
contributions in multiples of five percent in one or more of the following
active funds: Government Money Fund, Long Term Bond Fund, Large Capitalization
Value Equity Fund, Large Capitalization Growth Fund, Small Capitalization
Growth Fund, International Equity Investments Fund and the Triton Stock Fund.
A participant may contribute up to 12% of his/her compensation subject to the
annual deferral limit. The Company contributes an amount equal to a
participant's contribution, limited to a maximum of six percent of the
participant's base pay.
Participating employees receive a lump sum payment of all vested contributions
upon retirement, disability, death or termination. Also, participating
employees may make a hardship withdrawal from their participant accounts,
rollover accounts and their vested employer contributed accounts.
4. VESTED INTEREST IN PLAN EQUITY
Plan participants are vested at all times in their employee contributed
accounts. Vesting of employer contributions to a participant's account occurs
at a rate of 20% per year, with full vesting achieved upon five years of
service. In the event of retirement, death or disability, the participant
immediately becomes fully vested. In addition, in the event the Plan is
terminated or partially terminated, employer contributions are discontinued,
or a subsidiary of the Company terminates its participation in the Plan, the
affected participants' employer contributed accounts will become fully vested.
Net assets available for Plan benefits at December 31, 1997 and 1996 included
vested amounts of $651,333 and $289,664, respectively, attributable to
separated employees.
5. PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate
the Plan subject to the provisions of ERISA. In the event of Plan
termination, participants become fully vested in their accounts.
6. INCOME TAX STATUS
Management believes that the Plan is qualified under Section 401(a) of the
Internal Revenue Code and therefore, the Plan is exempt from taxation under
Section 501. The Internal Revenue Service granted a favorable letter of
determination to the Plan as amended on December 5, 1994. Generally,
contributions to a qualified plan are deductible by the Company when made,
earnings of the trust are tax exempt and participants are not taxed on their
benefits until withdrawn from the Plan.
Management is unaware of any variations in the operation of the Plan from the
terms of the Plan documents as amended. The Plan has complied with the
fidelity bonding requirement of ERISA.
TRITON EXPLORATION SERVICES, INC.
401(K) SAVINGS PLAN
ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSE
SCHEDULE I
INVESTMENTS AT DECEMBER 31, 1997
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IDENTITY OF ISSUE, BORROWER, LESSOR OR SIMILAR PARTY NUMBER OF CURRENT
DESCRIPTION OF INVESTMENT SHARES COST VALUE (a)
------------------------------------------------------------------- --------- ---------- ----------
TRITON STOCK FUND (b)
-------------------------------------------------------------------
Triton Energy Limited ordinary shares 137,887 $2,634,297 $4,026,084
========== ==========
INTERNATIONAL EQUITY INVESTMENTS FUND
-------------------------------------------------------------------
Consulting Group Capital Markets Fund 59,522 $631,369 $594,026
========== ==========
LARGE CAPITALIZATION VALUE EQUITY FUND
-------------------------------------------------------------------
Consulting Group Capital Markets Fund 102,122 $1,254,929 $1,356,836
========== ==========
LARGE CAPITALIZATION GROWTH FUND
-------------------------------------------------------------------
Consulting Group Capital Markets Fund 96,732 $1,345,488 $1,644,776
========== ==========
SMALL CAPITALIZATION GROWTH FUND
-------------------------------------------------------------------
Consulting Group Capital Markets Fund 11,046 $213,095 $186,905
========== ==========
GOVERNMENT MONEY FUND
-------------------------------------------------------------------
Consulting Group Capital Markets Fund 225,598 $230,100 $225,598
========== ==========
LONG TERM BOND FUND
-------------------------------------------------------------------
Consulting Group Capital Markets Fund 49,682 $422,054 $433,025
========== ==========
CASH EQUIVALENTS
-------------------------------------------------------------------
Reserve Deposit Account (RDA VI) $125,033 $125,033
========== ==========
PARTICIPANT LOANS
-------------------------------------------------------------------
Participant Notes Receivable Due January 15, 1998
1998, through
August 15, 2012 at
8% - 11% $ 377,451 $ 377,451
========== ==========
(a) Current value represents closing prices at December 31, 1997.
(b) Party-in-interest
TRITON EXPLORATION SERVICES, INC.
401(K) SAVINGS PLAN
ITEM 27D - SCHEDULE OF REPORTABLE TRANSACTIONS
SCHEDULE II
TRANSACTIONS IN EXCESS OF 5% OF THE FAIR MARKET VALUE
OF THE PLAN ASSETS FOR THE YEAR ENDED DECEMBER 31, 1997
[Enlarge/Download Table]
AGGREGATE AGGREGATE EXPENSE
IDENTITY OF PARTY INVOLVED PURCHASE SELLING LEASE INCURRED WITH
DESCRIPTION OF ASSET PRICE PRICE RENTAL TRANSACTION
----------------------------------------- --------- --------- ------ -------------
TRITON STOCK FUND
-----------------------------------------
Triton Energy Limited ordinary shares (a) $ 853,629 $ 448,088 $ --- $ 5,308
========== ========== ====== ===========
LARGE CAPITALIZATION VALUE EQUITY FUND
-----------------------------------------
Consulting Group Capital Markets Fund $ 677,717 $ 210,290 $ --- $ ---
========== ========== ====== ===========
LARGE CAPITALIZATION GROWTH FUND
-----------------------------------------
Consulting Group Capital Markets Fund $ 580,075 $ 303,599 $ --- $ ---
========== ========== ====== ===========
CASH EQUIVALENTS
-----------------------------------------
Reserve Deposit Account (RDA VI) $2,519,789 $2,514,210 $ --- $ ---
========== ========== ====== ===========
CURRENT VALUE
OF ASSET ON NUMBER OF
IDENTITY OF PARTY INVOLVED COST TRANSACTION TRANSACTIONS NET
----------------------
DESCRIPTION OF ASSET OF ASSET DATE PURCHASES SALES GAIN
----------------------------------------- ------------ -------------- ------------- ----- ---------
TRITON STOCK FUND
-----------------------------------------
Triton Energy Limited ordinary shares (a) $ 191,351 $ 448,088 52 29 $ 251,429
============ ============== =========
LARGE CAPITALIZATION VALUE EQUITY FUND
-----------------------------------------
Consulting Group Capital Markets Fund $ 159,330 $ 210,290 115 47 $ 50,960
============ ============== =========
LARGE CAPITALIZATION GROWTH FUND
-----------------------------------------
Consulting Group Capital Markets Fund $ 231,421 $ 303,599 116 56 $ 72,178
============ ============== =========
CASH EQUIVALENTS
-----------------------------------------
Reserve Deposit Account (RDA VI) $ 2,514,210 $ 2,514,210 94 113 $ ---
============ ============== =========
(a) Party-in-interest
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the employee benefit plan) have duly
caused this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
TRITON EXPLORATION SERVICES, INC.
401(k) Savings Plan
Date: June 26, 1998 /s/ Robert B. Holland, III
-----------------------------
Robert B. Holland, III
Senior Vice President and
Secretary
EXHIBIT INDEX
The following document is an exhibit to this Form 11-K:
Exhibit
Number Document
------- --------
23.1 Consent of Price Waterhouse LLP, filed herewith.
Dates Referenced Herein and Documents Incorporated by Reference
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