SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 1 OF 12
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D-A
Under the Securities Exchange Act of 1934
(Amendment No. 1)
-----------
BLUE DOLPHIN ENERGY COMPANY
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
095395 20 8
---------------------------------------------
(CUSIP Number)
N.L. Stevens, III, 1000 Louisiana,
Suite 3400, Houston, Texas 77002 (713) 276-5500
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
November 30, 2004
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 2 OF 12
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1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(entities only)
Barrett L. Webster
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS (see instructions)
N/A
--------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
NUMBER OF -0-
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 2,744,034
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON -0-
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,744,034
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (see instructions)
IN
--------------------------------------------------------------------------------
SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 3 OF 12
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
F. Gardner Parker
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS (see instructions) See Item 3
--------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 483,328
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 2,744,034
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 483,328
WITH -----------------------------------------------------
10.SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,227,362
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
32.6%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (see instructions)
IN
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SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 4 OF 12
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Columbus Petroleum Limited, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS (see instructions)
N/A
--------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Panama
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7. SOLE VOTING POWER
NUMBER OF -0-
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 911,7121
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 911,712
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 911,712
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.2%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (see instructions)
CO
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SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 5 OF 12
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Ivar Siem
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS (see instructions)
N/A
--------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Norway
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7. SOLE VOTING POWER
NUMBER OF -0-
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 918,2642
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 918,264
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
918,264
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.3%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (see instructions)
IN
--------------------------------------------------------------------------------
SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 6 OF 12
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Harris A. Kaffie
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS (see instructions)
N/A
--------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF -0-
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 723,4363
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 723,436
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
723,436
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.3%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (see instructions)
IN
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SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 7 OF 12
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Michael S. Chadwick
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS (see instructions) See Item 3
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5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 141,667
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 14,0804
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 155,747
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
155,747
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (see instructions)
IN
--------------------------------------------------------------------------------
SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 8 OF 12
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
James M. Trimble
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS (see instructions)
N/A
--------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 57,142
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 14,5805
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 71,722
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
71,722
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (see instructions)
IN
--------------------------------------------------------------------------------
SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 9 OF 12
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1. NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Michael J. Jacobson
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS (see instructions)
N/A
--------------------------------------------------------------------------------
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF -0-
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 161,9626
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 161,962
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
161,962
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON (see instructions)
IN
--------------------------------------------------------------------------------
SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 10 OF 12
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Item 1. Security and Issuer.
-------------------
This Amendment No. 1 to Schedule 13D (this "Filing") is filed by the
undersigned to amend and supplement the Schedule 13D, dated as of October 6,
2004 (the "Original 13D"). The Original 13D related to the common stock, $0.01
par value ("Common Stock"), of Blue Dolphin Energy Company, a Delaware
corporation (the "Company"), which has its principal executive offices located
at 801 Travis, Suite 2100, Houston, Texas 77002. This Filing reports, inter
alia, the Investors' acquisition of additional warrants to purchase Common
Stock. Capitalized terms used herein and not otherwise defined shall have the
meaning set forth in the Original 13D.
Item 2. Identity and Background.
-----------------------
1(b) of Item 2 of the Original 13D is amended and restated in its
entirety to read as follows:
"1000 Louisiana, Suite 1500, Houston, Texas 77002-5007"
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
Item 3 of the Original 13D is amended by adding the following paragraph
after the first paragraph:
"Funds for Messrs. Parker and Chadwick's respective share of the Bridge
Loan (as defined herein) and funds for their purchase of warrants to
purchase Common Stock came from their own personal resources,
respectively. Further, any funds needed for any anticipated exercise of
the warrants issued to or purchased by Messrs. Parker or Chadwick are
expected to come from their own personal resources."
Item 4. Purpose of Transaction.
----------------------
Item 4 of the Original 13D is amended and restated in its entirety to
read as follows:
"On September 8, 2004, the Company, on the one hand, and numerous
investors (collectively, the "Investors"), on the other hand, signed a
Note and Warrant Purchase Agreement ("Agreement") whereby the Investors
agreed to provide a total of $750,000 worth of individual promissory
notes to Company. The Agreement also authorized the sale and issuance
of 1,250,000 warrants to purchase shares of Common Stock to the
Investors (the "Initial Warrants"). Pursuant to the Agreement, Mr.
Parker purchased 41,663 ("Parker Initial Warrants") and Mr. Chadwick
purchased 20,834 of the 1,250,000 warrants ("Chadwick Initial
Warrants").
On the same date, the Investors, Columbus and Messrs. Siem, Kaffie,
Chadwick, Trimble and Jacobson (each a "Shareholder," and collectively
the "Shareholders") entered into a shareholders agreement and granted
Messrs. Webster and Parker, and each of them individually, a proxy
pursuant to the provisions of the general corporation law of the State
of Delaware, with full power of substitution and resubstitution, to
vote or act by written consent with respect to the Shareholder Shares
(as defined below), only to accomplish the purpose and agreements as
set forth in Section 1 of the Shareholder Voting Agreement (see Exhibit
1) ("Shareholder Agreement').
Section 1 of the Shareholder Agreement provides, inter alia, that the
Shareholders' proxy will be used to approve (i) the issuance of
additional warrants on the terms and conditions provided in the
Agreement, (ii) the issuance of the Director Warrants (as defined in
the Shareholder Agreement), (iii) the amendment and restatement of the
Company's certificate of incorporation, and (iv) the election of
Messrs. Parker and Benz to the Company's Board of Directors.
As of September 8, 2004, the Shareholders were the beneficial owners of
2,744,034 shares of Company's Common Stock ("Shareholder Shares"), as
described below:
SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 11 OF 12
----------------------- --------------------
Columbus Petroleum Limited, Inc. 911,712
Ivar Siem 918,264
Harris A. Kaffie 723,436
Michael S. Chadwick 14,080
James M. Trimble 14,580
Michael J. Jacobson 161,962
---------
TOTAL 2,744,034
On November 11, 2004, pursuant to the Agreement, the Company's
stockholders held a special meeting ("Special Meeting"), and inter
alia, approved the sale and issuance of 1,550,000 additional warrants
to purchase shares of Common Stock to the Investors. At the Special
Meeting, the Company's stockholders also granted warrants to acquire
100,000 shares of Common Stock to Messrs. Laurence Benz, Chadwick
("Chadwick Director Warrants"), and Parker ("Parker Director
Warrants"), respectively (collectively, the "Director Warrants").
On November 30, 2004, the Investors purchased 1,550,000 additional
warrants to purchase shares of Common Stock (the "Additional
Warrants"). On the same date, Mr. Parker purchased 341,665 and Mr.
Chadwick purchased 20,833 of the Additional Warrants ("Chadwick
Additional Warrants").
Pursuant to the terms of the proxy, Messrs. Parker and Webster will
only have the authority to vote for the election of Messrs. Parker and
Benz, individually, to the Board of Directors of the Company, at the
next meeting of the Company's stockholders that occurs, within eighteen
(18) months of September 8, 2004, where the election of directors will
be voted upon."
Item 5. Interest in Securities of the Issuer.
------------------------------------
Item 5 of the Original 13D is amended and restated in its entirety to
read as follows:
"(a) Mr. Webster is deemed to beneficially own 2,744,034 shares of
Common Stock, which represents 27.7% of the outstanding Common Stock of
the Company.
Mr. Parker is deemed to beneficially own 3,227,362 shares of Common
Stock, which represents 32.6% of the outstanding Common Stock of the
Company.
Columbus is deemed to beneficially own 911,712 shares of Common Stock,
which represents 9.2% of the outstanding Common Stock of the Company.
Mr. Siem is deemed to beneficially own 918,264 shares of Common Stock,
which represents 9.3% of the outstanding Common Stock of the Company.
Mr. Kaffie is deemed to beneficially own 723,436 shares of Common
Stock, which represents 7.3% of the outstanding Common Stock of the
Company.
Mr. Chadwick is deemed to beneficially own 155,747 shares of Common
Stock, which represents 1.6% of the outstanding Common Stock of the
Company.
Mr. Trimble is deemed to beneficially own 71,722 shares of Common
Stock, which represents 0.7% of the outstanding Common Stock of the
Company.
SCHEDULE 13D-A
CUSIP NO. 095395 20 8 PAGE 12 OF 12
----------------------- --------------------
Mr. Jacobson is deemed to beneficially own 161,962 shares of Common
Stock, which represents 1.6% of the outstanding Common Stock of the
Company.
The percentage calculations are based upon 9,913,689 shares of Common
Stock outstanding, which includes the 6,813,689 shares of Common Stock
outstanding as of November 10, 2004, as stated in the Company's most
recent Form 10-Q that was filed on November 12, 2004, the 1,250,000
Initial Warrants, the 1,550,000 Additional Warrants and the 300,000
Director Warrants.
(b) Messrs. Webster and Parker each have the power to vote the
Shareholder Shares, which equal 2,744,034 shares of Common Stock, but
only with respect to accomplish the purpose and agreements set forth in
Section 1 of the Shareholder Agreement (see Exhibit 1). Each
Shareholder retains sole dispositive power and other rights with
respect to the voting of these 2,744,034 shares. Mr. Parker has sole
voting and dispositive power over the Parker Initial Warrants, Parker
Additional Warrants, and Parker Director Warrants, upon exercise of
such warrants, and Mr. Chadwick has sole voting and dispositive power
over the Chadwick Initial Warrants, Chadwick Additional Warrants, and
Chadwick Director Warrants, upon exercise of such warrants.
(c) See Item 4 above.
(d) Each Shareholder has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, their
respective share of the 2,744,034 shares of Common Stock of the Company
of which Messrs. Webster and Parker are beneficial owners. Mr. Parker
has the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the Parker Initial
Warrants, Parker Additional Warrants, and Parker Director Warrants,
upon exercise of such warrants. Mr. Chadwick has the right to receive
or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the Chadwick Initial Warrants, Chadwick Additional
Warrants, and Chadwick Director Warrants, upon exercise of such
warrants.
(e) Not applicable."
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
-----------------------------------------------------------------------
Unchanged.
Item 7. Material to be Filed as Exhibits
--------------------------------
Unchanged.
SIGNATURE PAGE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: December 10, 2004 /s/ Barrett L. Webster
--------------------------------
Barrett L. Webster
Dated: December 10, 2004 /s/ F. Gardner Parker
--------------------------------
F. Gardner Parker
Dated: December 10, 2004 COLUMBUS PETROLEUM LIMITED, INC.
By: /s/ Michael Delouche
--------------------------
Name: Michael Delouche
--------------------------
Title: Authorized Signatory
--------------------------
Dated: December 10, 2004 /s/ Ivar Siem
------------------------------------
Ivar Siem
Dated: December 10, 2004 /s/ Harris A. Kaffie
------------------------------------
Harris A. Kaffie
Dated: December 10, 2004 /s/ Michael S. Chadwick
------------------------------------
Michael S. Chadwick
Dated: December 10, 2004 /s/ James M. Trimble
------------------------------------
James M. Trimble
Dated: December 10, 2004 /s/ Michael J. Jacobson
------------------------------------
Michael J. Jacobson
--------
1 Pursuant to the Shareholder Agreement (as defined below), these shares are
subject to voting rights by others on certain matters (as described below). 2
Pursuant to the Shareholder Agreement (as defined below), these shares are
subject to voting rights by others on certain matters (as described below).
3 Pursuant to the Shareholder Agreement (as defined below), these shares are
subject to voting rights by others on certain matters (as described below). 4
Pursuant to the Shareholder Agreement (as defined below), these shares are
subject to voting rights by others on certain matters (as described below).
5 Pursuant to the Shareholder Agreement (as defined below), these shares are
subject to voting rights by others on certain matters (as described below). 6
Pursuant to the Shareholder Agreement (as defined below), these shares are
subject to voting rights by others on certain matters (as described below).