UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

 

(Mark One)

 

 

For the quarterly period ended January 31, 2008

 

 

For the transition period from                            to                          

 

Commission File Number:   0-8877

 

CREDO PETROLEUM CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

303-297-2200

(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 registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes x    No o

 

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

 

 

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

 

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

 

Date		Class		Outstanding
Mar.10, 2008		Common stock, $.10 par value		9,295,000

 

 

CREDO PETROLEUM CORPORATION AND SUBSIDIARIES

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Quarterly Report on Form 10-Q For the Period Ended January 31, 2008

 

TABLE OF CONTENTS

 

	PART I - FINANCIAL INFORMATION	Page No.
Item 1	Financial Statements
Consolidated Balance Sheets
As of January 31, 2008 (Unaudited) and October 31, 2007		3
Consolidated Statements of Operations
For the Three Months Ended January 31, 2008 and 2007 (Unaudited)		4
Consolidated Statements of Cash Flows
For the Three Months Ended January 31, 2008 and 2007 (Unaudited)		5
Notes to Consolidated Financial Statements (Unaudited)		6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	19
Item 4.	Controls and Procedures	19
	PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	19
Item 1A.	Risk Factors	19
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	19
Item 3.	Defaults Upon Senior Securities	20
Item 4.	Submission of Matters to a Vote of Security Holders	20
Item 5.	Other Information	20
Item 6.	Exhibits	20
Signatures		21

 

The terms “CREDO”, “Company”, “we”, “our”, and “us” refer to CREDO Petroleum Corporation and its subsidiaries unless the context suggests otherwise.

 

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