UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED June 30, 2017

or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Commission File No. 000-18774

SPINDLETOP OIL & GAS CO.

(Exact name of registrant as specified in its charter)

(972-644-2581)

(Registrant’s telephone number, including area code)

Indicate by check mark if the registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act. Yes [ ] No [ X ]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [ ] No [ X ]

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 Company was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [ X ] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files. Yes [ X ] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a

non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act).

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the

Exchange Act. Yes [ ] No [ X ]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes [ ] No [ ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of common, as of the latest practicable date.

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

FORM 10-Q

For the quarter ended June 30, 2017

Index to Consolidated Financial Statements and Schedules

Part I - Financial Information

Item 1. - Financial Statements

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS - (Continued)

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

SPINDLETOP OIL & GAS CO AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. BASIS OF PRESENTATION AND ORGANIZATION

The accompanying financial statements are presented in accordance with the requirements of Form 10-Q and consequently do not include all of the disclosures normally required by generally accepted accounting principles or those normally made in the Company's annual Form 10-K filing. Accordingly, the reader of this Form 10-Q may wish to refer to the Company's Form 10-K for the year ended December 31, 2016 for further information.

The consolidated financial statements presented herein include the accounts of Spindletop Oil & Gas Co., a Texas corporation ("the Company") and its wholly owned subsidiaries, Prairie Pipeline Co., a Texas corporation and Spindletop Drilling Company, a Texas corporation. All significant inter-company transactions and accounts have been eliminated.

In the opinion of management, the accompanying unaudited interim financial statements contain all material adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial condition, the results of operations and changes in cash flows of the Company and its consolidated subsidiaries for the interim periods presented. Although the Company believes that the disclosures are adequate to make the information presented not misleading, certain information and footnote disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with generally accepted accounting principles generally accepted in the United States of America, have been condensed or omitted pursuant to such rules and regulations.

Subsequent Events

Management has evaluated subsequent events through August 14, 2017, the date on which the financial statements were available to be issued.

Item 2. - Management's Discussion and Analysis of Financial Condition and

Results of Operations

WARNING CONCERNING FORWARD LOOKING STATEMENTS

The following discussion should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this report.

This Report on Form 10-Q may contain forward-looking statements within the meaning of the federal securities laws, principally, but not only, under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” We caution investors that any forward-looking statements in this report, or which management may make orally or in writing from time to time, are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “expect,” “intend,” “may,” “might,” “plan,” “estimate,” “project,” “should,” “will,” “result” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors, that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We caution you that while forward-looking statements reflect our good faith beliefs when we make them, they are not guarantees of future performance and are impacted by actual events when they occur after we make such statements. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

`

Some of the risks and uncertainties that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, among others, the factors listed and described at Item 1A “Risk Factors” in the Company’s Annual Report on Form 10-K, which investors should review. There have been no changes from the risk factors previously described in the Company’s Form 10-K for the fiscal year ended December 31, 2016 (the “Form 10-K”).

Uncertainties regarding the global economic and financial environment could lead to an extended national or global economic recession. A slowdown in economic activity caused by a recession would likely reduce national and worldwide demand for oil and natural gas and result in lower commodity prices for long periods of time. Costs of exploration, development and production have not yet adjusted to current economic conditions, or in proportion to the significant reduction in product prices. Prolonged, substantial decreases in oil and natural gas prices would likely have a material adverse effect on the Company’s business, financial condition, and results of operations, and could further limit the Company's access to liquidity and credit, and could hinder its ability to satisfy its capital requirements.

In the past several years, capital and credit markets have experienced volatility and disruption. Given the levels of market volatility and disruption, the availability of funds from those markets may diminish substantially. Further, arising from concerns about the stability of financial markets generally and the solvency of borrowers specifically, the cost of accessing the credit markets has increased as many lenders have raised interest rates, enacted tighter lending standards, or altogether ceased to provide funding to borrowers.

Due to these potential capital and credit market conditions, the Company cannot be certain that funding will be available in amounts or on terms acceptable to the Company. The Company is evaluating whether current cash balances and cash flow from operations alone would be sufficient to provide working capital to fully fund the Company's operations. Accordingly, the Company is evaluating alternatives, such as joint ventures with third parties, or sales of interest in one or more of its properties. Such transactions, if undertaken, could result in a reduction in the Company's operating interests or require the Company to relinquish the right to operate the property. There can be no assurance that any such transactions can be completed or that such transactions will satisfy the Company's operating capital requirements. If the Company is not successful in obtaining sufficient funding or completing an alternative transaction on a timely basis on terms acceptable to the Company, the Company would be required to curtail its expenditures or restructure its operations, and the Company would be unable to continue its exploration, drilling, and recompletion program, any of which would have a material adverse effect on its business, financial condition, and results of operations.

There could be adverse legislation which if passed, would significantly curtail our ability to attract investors and raise capital. Proposed changes in the Federal income tax laws which would eliminate or reduce the percentage depletion deduction and the deduction for intangible drilling and development costs for small independent producers, will significantly reduce the investment capital available to those in the industry as well as our Company. Lengthening the time to expense seismic costs will also have an adverse effect on our ability to explore and find new reserves.

Other sections of this report may also include suggested factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risks may emerge from time to time and it is not possible for management to predict all such matters; nor can we assess the impact of all such matters on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Investors should also refer to our quarterly reports on Form 10-Q for future periods and current reports on Form 8-K as we file them with the SEC, and to other materials we may furnish to the public from time to time through Forms 8-K or otherwise.

Results of Operations

Six months ended June 30, 2017 compared to six months ended June 30, 2016

Oil and gas revenues for the first six months of 2017 were $2,088,000, as compared to $1,549,000 for the same period in 2016, an increase of approximately $539,000 or 34.8%.

Natural gas revenue for the first six months of 2017 was $763,000 compared to $526,000 for the same period in 2016, an increase of approximately $237,000, or 45.06%. Natural gas sales volumes for the first six months of 2017 were approximately 261,000 mcf compared to approximately 297,000 mcf during the first six months of 2016, a decrease of approximately 36,000 mcf or 12.2%.

Average natural gas prices received were $2.88 per mcf in the first six months of 2017 as compared to $1.57 per mcf in the same time period in 2016, an increase of approximately $1.31 per mcf or 83.4%.

Oil sales for the first six months of 2017 were approximately $1,325,000 compared to approximately $1,023,000 for the first six months of 2016, an increase of approximately $302,000 or 29.5%. Oil sales volumes for the first six months of 2017 were approximately 26,300, compared to approximately 25,600 bbls during the same period in 2016, an increase of approximately 700 bbls, or 2.7%.

Average oil prices received were $46.33 per bbl in the first half of 2017 compared to $31.43 per bbl in the first half of 2016, an increase of approximately $14.90 per bbl or 47.4%.

Revenues from lease operations were $184,000 in the first six months of 2017 compared to $196,000 in the first six months of 2016, a decrease of approximately $12,000 or 6.2%. This decrease is due primarily to a decrease in field supervision charges due to some operated wells that were shut-in.

Revenues from gas gathering, compression and equipment rental for the first six months of 2017 were $64,000 compared to $69,000 for the same period in 2016, a decrease of $5,000 or 7.3%.

Real estate revenue was approximately $147,000 during the first six months of 2017 compared to $156,000 for the first six months of 2016, a decrease of approximately $9,000, or 5.8%. This decrease is due to the loss of a tenant at the Company’s corporate office building effective March, 2017.

Interest income was $71,000 during the first six months of 2017 as compared to $38,000 during the same period in 2016, an increase of approximately $33,000 or 86.8%. This increase was due to moving funds during the second half of 2016 to a bank paying higher interest rates. Interest income is derived from investments in both short-term and long-term certificates of deposit as well as money market accounts at banks.

Other revenues for the first six months of 2017 were $67,000 as compared to $241,000 for the same time period in 2016, a decrease of $174,000 or 72,2%. The reduction in 2017 is due in part to the timing of a negotiated settlement in 2016 as well as to the recognition of fees earned under a drilling venture during 2016.

Lease operating expenses in the first six months of 2017 were $681,000 as compared to $571,000 in the first six months of 2016, a net increase of $110,000, or 19.3%. Approximately $20,000 of the increase is due to operating expenses billed by third-party operators on non-operated properties. There was an approximate $2,000 decrease in expenses due to several non-operated wells that were either divested or plugged during 2016 and an increase in workovers of approximately $63,000. An increase of approximately $28,000 is due to operating expenses for new wells drilled or acquired in the last half of 2016. The remaining represents net increases and decreases on various properties due to general price fluctuations and levels of operation activity.

Production taxes, gathering and marketing expenses in the first six months of 2017 were approximately $232,000 as compared to $226,000 for the first six months of 2016, an increase of approximately $6,000, or 2.7%.

Pipeline and rental expenses for the first six months of 2017 were $12,000 compared to $26,000 for the same time period in 2016, a decrease of $14,000, or 53.9%. This change is primarily due to repairs and maintenance expenses made in 2016.

Real estate expenses in the first six months of 2017 were approximately $63,000 compared to $71,000 during the same period in 2016, a decrease of approximately $8,000 or 11.3%. This decrease is due primarily to lower utilities, maintenance and repair expenses.

Depreciation, depletion, and amortization expenses for first six months of 2017 were $466,000 as compared to $649,000 for the same period in 2016, a decrease of $183,000, or 28.2%. $437,000 of the amount for the first six months of 2017 was for amortization of the full cost pool of capitalized costs compared to $615,000 for the same period of 2016, a decrease of $178,000 or 28.9%. The Company re-evaluated its proved oil and natural gas reserve quantities as of December 31, 2016. This re-evaluated reserve base was adjusted for the first six months as of June 30, 2017 by estimating variances in average prices of oil and natural gas that occurred during the period, adding estimated quantities of oil and natural gas reserves acquired during the period, and deducting oil and natural gas reserves that were produced or sold during the period. A depletion rate of 3.186% for the first quarter of 2017 and a depletion rate of 4.130% for the second quarter of 2017 was calculated and applied to the Company’s full cost pool of capitalized oil and natural gas properties compared to rates of 3.350% and 4.481% for the first two quarters of 2016 respectively.

Asset Retirement Obligation (“ARO”) expense for the first six months of 2017 was approximately $18,000 as compared to approximately $17,000 for the same time period in 2016, an increase of approximately $1,000 or 5.9%. This increase is due to a recalculation of the estimated present value to plug producing properties compared to the estimate made in the previous year. This recalculation was made after the Company re-evaluated its proved oil and natural gas reserves at the end of 2016.

General and administrative expenses for the first six months of 2017 were approximately $1,242,000 as compared to approximately $1,325,000 for the same time period of 2016, a decrease of approximately $83,000 or 6.3%.

Three months ended June 30, 2017 compared to three months ended June 30, 2016

Oil and natural gas revenues for the three months ended June 30, 2017 were $1,031,000, compared to $906,000 for the same time period in 2016, an increase of $125,000, or 13.8%.

Natural gas revenues for the second quarter of 2017 were $388,000 compared to $280,000 for the same period in 2016, an increase of $108,000 or 38.6%. Natural gas volumes sold for the second quarter of 2017 were approximately 135,000 mcf compared to approximately 155,000 mcf during the same period of 2016, a decrease of approximately 20,000 mcf, or 12.9%.

Average natural gas prices received were approximately $2.79 per mcf in the second quarter of 2017 as compared to approximately $1.77 per mcf during the same period in 2016, an increase of approximately $1.02 or 57.6%.

Oil sales for the second quarter of 2017 were approximately $643,000 compared to approximately $626,000 for the same period of 2016, an increase of approximately $17,000 or 2.7%. Oil volumes sold for the second quarter of 2017 were approximately 18,100 bbls compared to approximately 15,300 bbls during the same period of 2016, an increase of approximately 2,800 bbl or 18.3%.

Average oil prices received were approximately $44.42 per bbl in the second quarter of 2017 compared to $38.02 per bbl during the same period of 2016, an increase of approximately $6.40 per bbl, or 16.8%.

Revenues from lease operations for the second quarter of 2017 were approximately $93,000 compared to approximately $106,000 for the second quarter of 2016, a decrease of approximately $13,000 or 12.3%. This decrease is due to a reduction in the number of operated wells that were disposed of or that were shut-in.

Revenues from gas gathering, compression and equipment rental for the second quarter of 2017 were approximately $38,000, compared to approximately $39,000 for the same period in 2016, a decrease of approximately $1,000 or 2.6%.

Real estate revenue was approximately $73,000 during the second quarter of 2017 compared to $78,000 for the same time period of 2016, a decrease of approximately $5,000 or 6.4%. This decrease is due to the loss of a tenant at the Company’s corporate office building effective March 31, 2017.

Interest income for the second quarter of 2017 was approximately $43,000 as compared with approximately $20,000 for the same period in 2016, an increase of approximately $23,000 or 115.0%. This increase was due to moving funds during the second half of 2016 to a bank paying higher interest rates. Interest income is derived from investments in both short-term and long-term certificates of deposit as well as money market accounts at banks.

Other revenues for second quarter of 2017 were approximately $49,000 as compared with approximately $207,000 for the same period in 2016, a decrease of approximately $158,000 or 76.3%. The reduction in 2017 is due in part to the timing of a negotiated settlement in 2016 as well as to the recognition of fees earned under a drilling venture during 2016.

Lease operating expenses in the second quarter of 2017 were $362,000 as compared to $324,000 in the second quarter of 2016, a net increase of approximately $38,000, or 11.7%.  Approximately $12,000 of the increase is due to operating expenses billed by third-party operators on non-operated properties. There was an approximate $1,000 decrease in expenses due to several wells that were either divested or plugged during 2016. There was an increase in workovers of approximately $44,000 and an increase of approximately $12,000 due to new wells drilled or acquired during the second half of 2016. Approximately $29,000 represents net decreases on various properties due to general price fluctuations and levels of operation activity.

Production taxes, gathering, transportation and marketing expenses for the second quarter of 2017 were approximately $108,000 as compared to $126,000 during the second quarter of 2016, a net decrease of approximately $18,000 or 14.3%.

Pipeline and rental expenses for the second quarter of 2017 were $10,000 compared to $16,000 for the same time period in 2016, a decrease of $6,000 or 37.5%. This change is primarily due to repairs and maintenance expenses made in 2016.

Real estate expenses during the second quarter 2017 were approximately $31,000 compared to approximately $32,000 for the same period in 2016, a decrease of approximately $1,000 or 3.1%.

Depreciation, depletion, and amortization expenses for the second quarter of 2017 were $261,000 as compared to $396,000 for the same period in 2016, a decrease of $135,000, or 34.1%. $247,000 of the amount for the second quarter of 2017 was for amortization of the full cost pool of capitalized costs compared to $379,000 for the second quarter of 2016, a decrease of $132,000 or 34.8%. The Company re-evaluated its proved oil and natural gas reserve quantities as of December 31, 2016. This re-evaluated reserve base was adjusted for the first six months as of June 30, 2017 by estimating variances in average prices of oil and natural gas that occurred during the period, adding estimated quantities of oil and natural gas reserves acquired during the period, and deducting oil and natural gas reserves that were produced or sold during the period. A depletion rate of 3.186% for the first quarter of 2017 and a depletion rate of 4.130% for the second quarter of 2017 was calculated and applied to the Company’s full cost pool of capitalized oil and natural gas properties compared to rates of 3.350% and 4.481% for the first two quarters of 2016 respectively.

Asset Retirement Obligation (“ARO”) expense for the second quarter of 2017 was approximately $9,000 as compared to approximately $8,000 for the same time period in 2016, an increase of approximately $1,000 or 12.5%. This increase is due to a recalculation of the estimated present value to plug producing properties compared to the estimate made in the previous year. This recalculation was made after the Company re-evaluated its proved oil and natural gas reserves at the end of 2016.

General and administrative expenses for the second quarter of 2017 were $661,000 compared to $638,000 for the same period in 2016, an increase of approximately $23,000 or 3.6%.

Financial Condition and Liquidity

The Company's operating capital needs, as well as its capital spending program are generally funded from cash flow generated by operations. Because future cash flow is subject to a number of variables, such as the level of production and the sales price of oil and natural gas, the Company can provide no assurance that its operations will provide cash sufficient to maintain current levels of capital spending. Accordingly, the Company may be required to seek additional financing from third parties in order to fund its exploration and development programs.

Item 4. - Controls and Procedures

(a) As of the end of the period covered by this report, Spindletop Oil & Gas Co. carried out an evaluation, under the supervision and with the participation of the Company's management, including the Company's Principal Executive Officer and Principal Financial and Accounting Officer, of the effectiveness of the design and operation of the Company's disclosure controls and procedures pursuant to Exchange Act Rule 13a-15 and 15d-15. Based upon the evaluation, the Company's Principal Executive Officer and Principal Financial and Accounting Officer concluded that the Company's disclosure controls and procedures were effective as of the end of the period covered by the report.

(b) There have been no changes in the Company's internal controls over financial reporting during the quarter ended June 30, 2017 that have materially affected, or are reasonably likely to materially affect the Company's internal controls over financial reporting.

Part II – Other Information

Item 5. – Other Information

Oklahoma

During the 2^nd Quarter of 2017, the Company completed the divestiture of its non-operated interest in the Sweetin #1-12 well along with associated leasehold acreage in Pittsburg County, Oklahoma.

During the 2^nd Quarter of 2017, the Company divested its non-operated interest in the Crowley #1-30 well and its interest in the Peters #1-30 well along with associated leasehold acreage located in Canadian County, Oklahoma. The Company is pursuing Section 1031-Like Kind Exchange treatment for the proceeds from this transaction and has not calculated the income tax implications of the divestiture.

Montana

During the 2^nd Quarter of 2017, the Company completed the divestiture of its non-operated interests in the Hage #44-20, Consolidated State 42-20, and Consolidated State 1 SWD wells along with associated leasehold acreage located in Roosevelt County, Montana.

North Dakota

During the 2^nd Quarter of 2017, the Company completed the divestiture of its non-operated interest in the East Rough Rider (Madison) Unit along with associated leasehold acreage, in McKenzie County, North Dakota.

Item 6. - Exhibits

The following exhibits are filed herewith or incorporated by reference as indicated.

3.1 (a) Amended Articles of Incorporation of Spindletop Oil & Gas Co. (Incorporated by reference to Exhibit 3.1 to the General Form for Registration of Securities on Form 10, filed with the Commission on August 14, 1990)

31.1 * Certification pursuant to Rules 13a-14 and 15d under the

Securities Exchange Act of 1934.

31.2 * Certification pursuant to Rules 13a-14 and 15d under the

Securities Exchange Act of 1934.

32.1 * Certification pursuant to 18 U.S.C. Section 1350.

____________________________

* filed herewith

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 thereunto duly authorized.

SPINDLETOP OIL & GAS CO.

(Registrant)

Date: August 14, 2017 By: /s/ Chris G. Mazzini

Chris G. Mazzini

President, Principal Executive Officer

Date: August 14, 2017 By: /s/ Michelle H. Mazzini

Michelle H. Mazzini

Vice President, Secretary

Date: August 14, 2017 By: /s/ Robert E. Corbin

Robert E. Corbin

Controller, Principal Financial and

Accounting Officer

Exhibit 31.1

CERTIFICATION

I, Chris G. Mazzini, certify that:

1.       I have reviewed this report on Form 10-Q of Spindletop Oil & Gas Co.;

2.       Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.       Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.       The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13-15(e) and 15d-15e) and have internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

5.       The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

Dated: August 14, 2017

/s/ Chris G. Mazzini

CHRIS G. MAZZINI

President, Principal Executive Officer

Exhibit 31.2

CERTIFICATION

I, Robert E. Corbin, certify that:

1.       I have reviewed this report on Form 10-Q of Spindletop Oil & Gas Co.;

2.       Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.       Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.       The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13-15(e) and 15d-15e) and have internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

5.       The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

Dated: August 14, 2017

/s/ Robert E. Corbin

ROBERT E. CORBIN

Controller, Principal Financial and

Accounting Officer

Exhibit 32.1

Certification Pursuant to 18 U.S.C. Section 1350

As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report of Spindletop Oil & Gas Co. (the “Company”), on Form 10-Q for the quarter ended June 30, 2017 as filed with the Securities Exchange Commission on the date hereof (the “Report”), the undersigned Principal Executive Officer and Principal Financial and Accounting Officer of the Company, do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

Dated: August 14, 2017

/s/ Chris G. Mazzini

CHRIS G. MAZZINI

President, Principal Executive Officer

/s/ Robert E. Corbin

ROBERT E. CORBIN

Controller, Principal Financial and

Accounting Officer