Item 5. Other Events. On June 1, 2000, the company announced that it was delisted from the OTC Bulletin Board ("Bulletin Board"), effective June 1, 2000, because its Annual Report on Form 10-K for the fiscal year ended December 31, 1999, and its Report on Form 10-Q for the fiscal quarter ended March 31, 2000, have not been filed with the U.S. Securities and Exchange Commission ("SEC"). The company plans to reapply for listing on the Bulletin Board as soon as it is in compliance with its SEC filings. In the interim, the company expects its Common Stock to continue to trade in the Pink Sheets. 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. XCL LTD. June 7, 2000 /s/ Lisha C. Falk _________________________ By:_______________________________ Date Name: Lisha C. Falk Title: Corporate Secretary