content: <PAGE> 
                  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):
  
                          November 20, 1996
  
  
  
                     WASATCH PHARMACEUTICAL, INC.
                     ----------------------------
        (Exact name of registrant as specified in its charter)
  
  
            UTAH                      2-35700                 84-0854009
  ---------------------------- -----------------------  --------------------
  (State or other jurisdiction (Commission File Number) (IRS Employer ID No.)
   of incorporation)
  
  
  
               714 East 7200 South, Midvale, Utah 84047
                     ----------------------------------------
               (Address of principal executive office)
  
  
  
  Registrant's telephone number, including area code: (801) 566-9688
                                                      --------------
  
                                 N/A
     ------------------------------------------------------------
    (Former name or former address, if changed since last report)
  
  
  
  
  
  
  
  
  
  
  <PAGE>
  <PAGE>
            ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS
  
  
  Summary
  
       On November 20, 1996, Wasatch Pharmaceutical, a Utah corporation (the
  "Company"), entered into agreement (the "Agreement") with Mountaineer Gas
  Transmission, Inc., a Nevada corporation, registered to do business in West
  Virginia ("Mountaineer"), wherein the Company has acquired a 25% working
  interest in 50 gases wells located in Pleasants, Wood, and Ritchie Counties,
  West Virginia.  In connection with the acquisition of the working interest,
  the Company issued to Mountaineer 2,000,000 shares of its restricted common
  stock valued at $2.50 per share, the bid price for the Company's common stock
  at November 22, 1996, as quoted on the NASD's OTC Bulletin Board.  The 50
  wells were originally drilled during the early 1980's and are operated by
  Mountaineer.  Mountaineer will continue to serve as the operator of the wells
  and has represented to the Company that it has scheduled the wells for rework
  in an effort to enhance what production currently exists.  The agreement
  specifically provides that the Company's costs for associated rework and
  production expenses will be credited against future revenues derived from gas
  production.
  
       The Company has entered into this agreement with Mountaineer in an
  effort to enhance its cash flows because management is of the belief that
  through the proposed rework program outlined by Mountaineer, sufficient
  revenue from gas production will be derived to assist the Company in funding
  the expansion of its skin care clinics and increased marketing of its products
  and services.
  <PAGE>
  <PAGE>
  
  ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS, AND EXHIBITS
  
  
  (b)(1)  Pro Forma Financial Statements. 
  
       The pro forma financial statements required be to filed pursuant to this
  subsection will be supplied when available, but not later than 60 days from
  the date of this filing.
  
  (c)(1)  Exhibits.  The following exhibits are included as part of this report:
  
              SEC
  Exhibit     Reference
  Number      Number      Title of Document                        Location
  -------     ---------   -----------------                        --------
   10.01        10        Agreement between Mountaineer Gas
                          Transmission, Inc. and Wasatch
                          Pharmaceutical, Inc., dated November
                          20, 1996                                 This filing
  
   10.02        10        Assignments of working interest to
                          Wells                                    This filing
  
   10.03        10        Operating Agreement between Mountaineer
                          Gas Transmission, Inc. and Wasatch
                          Pharmaceutical, Inc., dated November
                          20, 1996                                 This filing
  
  
  
  
  
                              SIGNATURES
  
       Pursuant to the requirements of the Securities Exchange Act of 1934, as
  amended, the Registrant has duly caused this report to be signed on its behalf
  by the undersigned hereunder duly authorized.
  
                                            WASATCH PHARMACEUTICAL, INC.     
  
  
  Date:     December 13, 1996                  /s/ David K. Giles
                                            -----------------------------------
                                            David K. Giles, Secretary
metadata_documents: [{"type": "8-K", "sequence": "1", "description": "CURRENT REPORT ON FORM 8-K", "secsgml_size_bytes": 4656}]
metadata_filer: {"company-data": {"conformed-name": "WASATCH PHARMACEUTICAL INC", "cik": "0000037848", "assigned-sic": "3652", "irs-number": "840854009", "state-of-incorporation": "DE", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "002-35700", "film-number": "96680897"}, "business-address": {"street1": "714 E 7200 S", "city": "MIDVALE", "state": "UT", "zip": "84108", "phone": "8015669688"}, "mail-address": {"street1": "714 EAST 7200 SOUTH", "city": "MIDVALE", "state": "UT", "zip": "84108"}, "former-company": [{"former-conformed-name": "CERON RESOURCES CORPORATION", "date-changed": "19920703"}, {"former-conformed-name": "CERON RESOURCES CORP", "date-changed": "19820111"}, {"former-conformed-name": "FOLIO ONE PRODUCTIONS LTD", "date-changed": "19820103"}]}
text: 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):
  
                          November 20, 1996
  
                     WASATCH PHARMACEUTICAL, INC.
                     ----------------------------
        (Exact name of registrant as specified in its charter)
  
            UTAH                      2-35700                 84-0854009
  ---------------------------- -----------------------  --------------------
  (State or other jurisdiction (Commission File Number) (IRS Employer ID No.)
   of incorporation)
  
               714 East 7200 South, Midvale, Utah 84047
                     ----------------------------------------
               (Address of principal executive office)
  
  Registrant's telephone number, including area code: (801) 566-9688
                                                      --------------
  
                                 N/A
     ------------------------------------------------------------
    (Former name or former address, if changed since last report)
  ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS
  
  Summary
  
       On November 20, 1996, Wasatch Pharmaceutical, a Utah corporation (the
  "Company"), entered into agreement (the "Agreement") with Mountaineer Gas
  Transmission, Inc., a Nevada corporation, registered to do business in West
  Virginia ("Mountaineer"), wherein the Company has acquired a 25% working
  interest in 50 gases wells located in Pleasants, Wood, and Ritchie Counties,
  West Virginia.  In connection with the acquisition of the working interest,
  the Company issued to Mountaineer 2,000,000 shares of its restricted common
  stock valued at $2.50 per share, the bid price for the Company's common stock
  at November 22, 1996, as quoted on the NASD's OTC Bulletin Board.  The 50
  wells were originally drilled during the early 1980's and are operated by
  Mountaineer.  Mountaineer will continue to serve as the operator of the wells
  and has represented to the Company that it has scheduled the wells for rework
  in an effort to enhance what production currently exists.  The agreement
  specifically provides that the Company's costs for associated rework and
  production expenses will be credited against future revenues derived from gas
  production.
  
       The Company has entered into this agreement with Mountaineer in an
  effort to enhance its cash flows because management is of the belief that
  through the proposed rework program outlined by Mountaineer, sufficient
  revenue from gas production will be derived to assist the Company in funding
  the expansion of its skin care clinics and increased marketing of its products
  and services.
  ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS, AND EXHIBITS
  
  (b)(1)  Pro Forma Financial Statements. 
  
       The pro forma financial statements required be to filed pursuant to this
  subsection will be supplied when available, but not later than 60 days from
  the date of this filing.
  
  (c)(1)  Exhibits.  The following exhibits are included as part of this report:
  
              SEC
  Exhibit     Reference
  Number      Number      Title of Document                        Location
  -------     ---------   -----------------                        --------
   10.01        10        Agreement between Mountaineer Gas
                          Transmission, Inc. and Wasatch
                          Pharmaceutical, Inc., dated November
                          20, 1996                                 This filing
  
   10.02        10        Assignments of working interest to
                          Wells                                    This filing
  
   10.03        10        Operating Agreement between Mountaineer
                          Gas Transmission, Inc. and Wasatch
                          Pharmaceutical, Inc., dated November
                          20, 1996                                 This filing
  
                              SIGNATURES
  
       Pursuant to the requirements of the Securities Exchange Act of 1934, as
  amended, the Registrant has duly caused this report to be signed on its behalf
  by the undersigned hereunder duly authorized.
  
                                            WASATCH PHARMACEUTICAL, INC.     
  
  Date:     December 13, 1996                  /s/ David K. Giles
                                            -----------------------------------
                                            David K. Giles, Secretary