Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ZARUBA JEFFREY C
  2. Issuer Name and Ticker or Trading Symbol
SPINNAKER EXPLORATION CO [SKE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP, Treasurer and Asst. Secr.
(Last)
(First)
(Middle)
1200 SMITH STREET, SUITE 800
3. Date of Earliest Transaction (Month/Day/Year)
12/13/2005
(Street)

HOUSTON, TX 77002
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/13/2005   D   1,500 D $ 65.5 (1) 0 D  
Common Stock 12/13/2005   D   1,281 D $ 65.5 (1) 0 I By 401(k) Plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 15.63 12/13/2005   D     18,500   (2) 08/10/2009 Common Stock 18,500 $ 49.87 0 D  
Employee Stock Option (right to buy) $ 16.13 12/13/2005   D     5,000   (3) 02/28/2010 Common Stock 5,000 $ 49.37 0 D  
Employee Stock Option (right to buy) $ 38.56 12/13/2005   D     7,175   (4) 01/11/2011 Common Stock 7,175 $ 26.94 0 D  
Employee Stock Option (right to buy) $ 37.55 12/13/2005   D     10,325   (5) 05/08/2011 Common Stock 10,325 $ 27.95 0 D  
Employee Stock Option (right to buy) $ 37.73 12/13/2005   D     10,000   (6) 02/12/2012 Common Stock 10,000 $ 27.77 0 D  
Employee Stock Option (right to buy) $ 22.89 12/13/2005   D     25,000   (7) 05/06/2008 Common Stock 25,000 $ 42.61 0 D  
Employee Stock Option (right to buy) $ 37.08 12/13/2005   D     20,000   (8) 02/13/2009 Common Stock 20,000 $ 28.42 0 D  
Employee Stock Option (right to buy) $ 34.05 12/13/2005   D     8,000   (9) 05/06/2012 Common Stock 8,000 $ 31.45 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ZARUBA JEFFREY C
1200 SMITH STREET
SUITE 800
HOUSTON, TX 77002
      VP, Treasurer and Asst. Secr.  

Signatures

 Jeffrey C. Zaruba   12/15/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The shares were disposed of pursuant to the merger agreement between the issuer and Norsk Hydro ASA in exchange for merger consideration of $65.50 per share.
(2) Options became 100% vested on August 10, 2003 and were canceled in the merger in exchange for a cash payment of $922,687.50, representing the difference between the exercise price of the option and merger consideration of $65.50. The reporting person had previously transferred an employee stock option to purchase 18,500 shares of SKE common stock to his ex-wife pursuant to a qualified domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.
(3) Options became 100% vested on February 28, 2004 and were canceled in the merger in exchange for a cash payment of $246,875.00, representing the difference between the exercise price of the option and merger consideration of $65.50. The reporting person had previously transferred an employee stock option to purchase 5,000 shares of SKE common stock to his ex-wife pursuant to a qualified domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.
(4) Options became 100% vested on January 11, 2005 and were canceled in the merger in exchange for a cash payment of $193,276.56, representing the difference between the exercise price of the option and merger consideration of $65.50. The reporting person had previously transferred an employee stock option to purchase 7,175 shares of SKE common stock to his ex-wife pursuant to a qualified domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.
(5) Options became 100% vested on May 8, 2005 and were canceled in the merger in exchange for a cash payment of $288,583.75, representing the difference between the exercise price of the option and merger consideration of $65.50. The reporting person had previously transferred an employee stock option to purchase 10,325 shares of SKE common stock to his ex-wife pursuant to a qualified domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.
(6) Options vested 20% on February 12, 2002, the grant date, and vested in 20% increments on each anniversary of the grant date and were canceled in the merger in exchange for a cash payment of $277,700.00, representing the difference between the exercise price of the option and merger consideration of $65.50. The reporting person had previously transferred an employee stock option to purchase 10,000 shares of SKE common stock to his ex-wife pursuant to a qualified domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.
(7) Options vested 20% on May 6, 2003, the grant date, and vested in 20% increments on each anniversary of the grant date and were canceled in the merger in exchange for a cash payment of $1,065,250.00, representing the difference between the exercise price of the option and merger consideration of $65.50.
(8) Options vested 20% on February 13, 2004, the grant date, and vested in 20% increments on each anniversary of the grant date and were canceled in the merger in exchange for a cash payment of $568,400.00, representing the difference between the exercise price of the option and merger consideration of $65.50.
(9) Options vested 20% on May 6, 2005, the grant date, and were canceled in the merger in exchange for a cash payment of $251,600.00, representing the difference between the exercise price of the option and merger consideration of $65.50.

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