<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>

<BODY>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><B>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D. C. 20549</B></FONT></P>

<BR><BR>

<H3 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>FORM 8-K</FONT></H3>
<BR>
<H2 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>CURRENT
REPORT</FONT></H2>
<BR><BR>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</FONT></P>


<P ALIGN=CENTER>Date of Report (Date of earliest event reported): January 14, 2002</P>

<BR><BR>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B><U>FORTUNE NATURAL RESOURCES CORPORATION</U></B><BR>
(Exact name of Registrant as specified in its charter)</FONT></P>

<BR>
<TABLE WIDTH=100%>
<TR>
     <TD ALIGN=CENTER WIDTH=33%><U>Delaware</U></TD><TD ALIGN=CENTER WIDTH=33%><U>1-12334</U></TD><TD ALIGN=CENTER WIDTH=33%><U>95-4114732</U></TD>
</TR>

<TR>
     <TD ALIGN=CENTER WIDTH=33%>(State or other jurisdiction<BR>of incorporation</TD>
<TD ALIGN=CENTER WIDTH=33%>(Commission<BR>File Number)</TD><TD ALIGN=CENTER WIDTH=33%>(IRS Employer<BR>Identification No.</TD>
</TR>


</TABLE>

<BR><BR>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><U>515 W. Greens Road, Suite 720,
Houston, Texas   77067</U><BR>(Address of principal executive offices)  (Zip Code)</FONT></P>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Registrant's telephone number,
including area code: (281) 872-1170<BR>Registrant's telecopier number, including area code: (281) 872-1213</FONT></P>


<BR><BR>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N/A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Former name or former address, if changed since last report)</FONT></P>


<HR>
<PAGE>

<P><FONT SIZE=3><B>Item 5. Other Items</B></FONT></P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>JANUARY 14, 2002 -
HOUSTON, TEXAS - FORTUNE NATURAL RESOURCES CORPORATION (NASDAQ OTC BB
SYMBOL: FPXA)</B> today announced that Ronald P. Nowak has joined the Company as
President and Chief Operating Officer, and Tyrone J. Fairbanks has been elevated
to Chairman and remains CEO. In addition, the Company has undertaken various
steps anticipated to decrease the Company&#146;s General &amp; Administrative
and Overhead expenses for the year 2002 by approximately 44% over the 2001
level.</P>

<P><B>Changes in Management</B></P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
senior management changes and additions are as follows:</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tyrone J. Fairbanks
becomes  Chairman and continues as Chief Executive  Officer.  Mr.  Fairbanks
will  also  be  the  Company's acting Chief Financial Officer.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ronald P. Nowak joins the
Company as President and Chief Operating Officer.  Mr. Nowak has over
23 years of professional experience in oil and gas exploration and has
served in executive positions with other publicly traded oil and gas exploration
companies.  Most recently, Mr. Nowak served as President and
Chief Operating Officer of Trans Texas Gas Corporation
(1999-2001) and President, Chief Executive Officer and Director
of 3DX Technologies, Inc. (1998-1999).  Prior to 3DX, Mr. Nowak
served as YPF/Maxus Corporation's Manager of its United States
Exploration Program.  During his exploration career, Mr. Nowak
has served in various technical positions of increasing
responsibility and management for Exxon, Amerada Hess and ARCO.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dean W. Drulias,
formerly Executive Vice President and in-house General Counsel
through December 31, 2001, will continue as a Director and Corporate Secretary
of the Company. He will also serve the Company on a contractual basis as outside
legal counsel, as needed.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J. Michael Urban,
formerly Vice President and Chief Financial Officer through
December 31, 2001, will no longer be an officer or employee of the Company.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.
Fairbanks, Chairman and CEO stated, &#147;While it is always difficult to
implement an expense reduction program that includes layoffs, especially people
of such high quality and talent like Dean and Mike, it was important to make
these choices to restructure management in order to have an opportunity to meet
our goals for the coming years.&#148; Mr. Fairbanks added, &#147;We welcome Ron,
who is an extraordinary talent and a proven hydrocarbon finder. He brings a
wealth of professional experience at all levels in the oil and gas exploration
industry, and is an effective leader of technical exploration and operating
staffs.&#148; Mr. Fairbanks concluded, &#147;Ron&#146;s technical background in
both geology and geophysics, his management experience in operations and
directing E&amp;P programs, and finally his proven impact to companies in
reserve growth are the ideal credentials for his new role to help Fortune grow
and achieve its goals.&#148;</P>

<HR>

<PAGE>

<P><B>Reductions to General &amp; Administrative and Overhead Expense
and Guidance</B></P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortune
has implemented a plan to attempt to reduce General &amp; Administrative and
Overhead Expenses by 44% in 2002 over 2001 levels. The Company anticipates
reporting that its total G&amp;A and overhead expenses for 2001 were
approximately $1.25 million. The Company believes that amount can be reduced to
approximately $700,000 in 2002. A major portion of those reductions took effect
at January 1, 2002 and other reductions are anticipated over the course of the
year if and as needed.</P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>FORTUNE
NATURAL RESOURCES CORPORATION</B> is an independent oil and gas exploration and
production company with its principal properties located onshore and offshore
Louisiana and Texas. Certain statements in this news release regarding future
expectations and plans may be regarded as &#147;forward looking statements&#148;
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. They are subject to various risks, such
as operating hazards, drilling risks, and other uncertainties inherent in the
business of exploring for, developing and producing oil and gas which may be
beyond Fortune&#146;s control. For a discussion of the contingencies and
uncertainties affecting future events and forward-looking statements, see
Fortune&#146;s most recent Annual Report on Form 10-KSB, as well as other
filings with the Securities and Exchange Commission. There can be no assurance
that Fortune will be successful in meeting its expectations.</P>

<P ALIGN=CENTER><B>************</B></P>
<P ALIGN=RIGHT>Company Contact:  Tyrone J. Fairbanks<BR>
Chairman and CEO<BR>(281)  872-1170</P>


<HR>

<PAGE>

<P ALIGN=LEFT><B>Item 7.  Financial Statements and Exhibits</B></P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</P>

<HR>

<PAGE>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B><U>SIGNATURE</U></B></FONT></P>

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>


<TABLE WIDTH=100%>
<TR>
     <TD WIDTH=50%> </TD><TD WIDTH=50%><B>FORTUNE NATURAL RESOURCES CORPORATION</B><BR><BR><BR><BR></TD>
</TR>
</TABLE>

<TABLE WIDTH=100%>
<TR>
     <TD WIDTH=50%> </TD><TD WIDTH=50%>By:&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Ronald P. Nowak</U><BR></TD>
</TR>

<TR>
     <TD WIDTH=50%> </TD><TD WIDTH=50%>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;Ronald P. Nowak<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Operating Officer</TD>
</TR>
</TABLE>



<P ALIGN=LEFT>Date:&nbsp;&nbsp;&nbsp;January 14, 2002</P>

</BODY>
</HTML>
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Form 8-K
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 14, 2002
FORTUNE NATURAL RESOURCES CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware
1-12334
95-4114732
(State or other jurisdiction
of incorporation
(Commission
File Number)
(IRS Employer
Identification No.
515 W. Greens Road, Suite 720,
Houston, Texas   77067
(Address of principal executive offices)  (Zip Code)
Registrant's telephone number,
including area code: (281) 872-1170
Registrant's telecopier number, including area code: (281) 872-1213
N/A
(Former name or former address, if changed since last report)
Item 5. Other Items
JANUARY 14, 2002 -
HOUSTON, TEXAS - FORTUNE NATURAL RESOURCES CORPORATION (NASDAQ OTC BB
SYMBOL: FPXA)
today announced that Ronald P. Nowak has joined the Company as
President and Chief Operating Officer, and Tyrone J. Fairbanks has been elevated
to Chairman and remains CEO. In addition, the Company has undertaken various
steps anticipated to decrease the Company's General & Administrative
and Overhead expenses for the year 2002 by approximately 44% over the 2001
level.
Changes in Management
The
senior management changes and additions are as follows:
Tyrone J. Fairbanks
becomes  Chairman and continues as Chief Executive  Officer.  Mr.  Fairbanks
will  also  be  the  Company's acting Chief Financial Officer.
Ronald P. Nowak joins the
Company as President and Chief Operating Officer.  Mr. Nowak has over
23 years of professional experience in oil and gas exploration and has
served in executive positions with other publicly traded oil and gas exploration
companies.  Most recently, Mr. Nowak served as President and
Chief Operating Officer of Trans Texas Gas Corporation
(1999-2001) and President, Chief Executive Officer and Director
of 3DX Technologies, Inc. (1998-1999).  Prior to 3DX, Mr. Nowak
served as YPF/Maxus Corporation's Manager of its United States
Exploration Program.  During his exploration career, Mr. Nowak
has served in various technical positions of increasing
responsibility and management for Exxon, Amerada Hess and ARCO.
Dean W. Drulias,
formerly Executive Vice President and in-house General Counsel
through December 31, 2001, will continue as a Director and Corporate Secretary
of the Company. He will also serve the Company on a contractual basis as outside
legal counsel, as needed.
J. Michael Urban,
formerly Vice President and Chief Financial Officer through
December 31, 2001, will no longer be an officer or employee of the Company.
Mr.
Fairbanks, Chairman and CEO stated, "While it is always difficult to
implement an expense reduction program that includes layoffs, especially people
of such high quality and talent like Dean and Mike, it was important to make
these choices to restructure management in order to have an opportunity to meet
our goals for the coming years." Mr. Fairbanks added, "We welcome Ron,
who is an extraordinary talent and a proven hydrocarbon finder. He brings a
wealth of professional experience at all levels in the oil and gas exploration
industry, and is an effective leader of technical exploration and operating
staffs." Mr. Fairbanks concluded, "Ron's technical background in
both geology and geophysics, his management experience in operations and
directing E&P programs, and finally his proven impact to companies in
reserve growth are the ideal credentials for his new role to help Fortune grow
and achieve its goals."
Reductions to General & Administrative and Overhead Expense
and Guidance
Fortune
has implemented a plan to attempt to reduce General & Administrative and
Overhead Expenses by 44% in 2002 over 2001 levels. The Company anticipates
reporting that its total G&A and overhead expenses for 2001 were
approximately $1.25 million. The Company believes that amount can be reduced to
approximately $700,000 in 2002. A major portion of those reductions took effect
at January 1, 2002 and other reductions are anticipated over the course of the
year if and as needed.
FORTUNE
NATURAL RESOURCES CORPORATION
is an independent oil and gas exploration and
production company with its principal properties located onshore and offshore
Louisiana and Texas. Certain statements in this news release regarding future
expectations and plans may be regarded as "forward looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. They are subject to various risks, such
as operating hazards, drilling risks, and other uncertainties inherent in the
business of exploring for, developing and producing oil and gas which may be
beyond Fortune's control. For a discussion of the contingencies and
uncertainties affecting future events and forward-looking statements, see
Fortune's most recent Annual Report on Form 10-KSB, as well as other
filings with the Securities and Exchange Commission. There can be no assurance
that Fortune will be successful in meeting its expectations.
************
Company Contact:  Tyrone J. Fairbanks
Chairman and CEO
(281)  872-1170
Item 7.  Financial Statements and Exhibits
None
SIGNATURE
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.
FORTUNE NATURAL RESOURCES CORPORATION
By:
/s/ Ronald P. Nowak
Ronald P. Nowak
President and Chief Operating Officer
Date:   January 14, 2002