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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 21, 2004
PARALLEL PETROLEUM CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware 0-13305 75-1971716
(State or other jurisdiction (Commission File (IRS Employer
of Incorporation or organization) Number) Identification No.)
1004 N. Big Spring, Suite 400, Midland, Texas 79701
(Address of Principal Executive Offices) (Zip Code)
432-684-3727
(Registrant's telephone number, including area code)
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Item 4. Changes in Registrant's Certifying Accountant.
Effective January 20, 2004, BDO Seidman, LLP was engaged as the new
independent accountant for Parallel Petroleum Corporation. The decision to
engage BDO Seidman was recommended and approved by the Audit Committee of the
Board of Directors of Parallel.
During Parallel's two fiscal years ended December 31, 2002 and December
31, 2001 and during any subsequent interim period prior to its engagement, BDO
Seidman LLP was not engaged as either the principal accountant to audit
Parallel's financial statements or as an independent accountant to audit a
significant subsidiary and on whom the principal accountant was expected to
express reliance on its report. In addition, during Parallel's two fiscal years
ended December 31, 2002 and December 31, 2001 and during any subsequent interim
period prior to engaging BDO Seidman LLP, neither Parallel, nor anyone on its
behalf consulted BDO Seidman LLP regarding (a) either the application of
accounting principles to a specified transaction, either completed or proposed,
or the type of audit opinion that might be rendered on Parallel's financial
statements, and no written report was provided to Parallel and no oral advice
was provided to Parallel by BDO Seidman LLP which was considered by Parallel in
reaching a decision as to the accounting, auditing or financial reporting
issues; and (b) there was no matter that was a subject of disagreement as
defined in paragraph 304 (a) (1) (iv) of SEC Regulation S-K and the related
instructions to said item, or a reportable event, as described in paragraph 304
(a) (1) (v) of SEC Regulation S-K.
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.
PARALLEL PETROLEUM CORPORATION
By:/s/ Larry C. Oldham
Larry C. Oldham, President and
Chief Executive Officer
Dated: January 21, 2004