SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G*
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. 1)*
Gastar Exploration Ltd.
(Name of Issuer)
Common Shares
(Title of Class of Securities)
367299104
(CUSIP Number)
December 31, 2007
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
(Page 1 of 19 Pages)
----------
*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 the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934 ("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).
CUSIP No. 367299104 13G Page 2 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
The Ospraie Portfolio Ltd.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 9,154,050 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.40%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
CO
--------------------------------------------------------------------------------
CUSIP No. 367299104 13G Page 3 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ospraie Special Opportunities Master Holdings Ltd.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 9,154,050 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.40%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
CO
--------------------------------------------------------------------------------
CUSIP No. 367299104 13G Page 4 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ospraie Management, LLC
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 18,308,100 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
18,308,100 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,308,100 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.79%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
OO
--------------------------------------------------------------------------------
CUSIP No. 367299104 13G Page 5 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ospraie Holding I, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 18,308,100 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
18,308,100 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,308,100 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.79%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
PN
--------------------------------------------------------------------------------
CUSIP No. 367299104 13G Page 6 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ospraie Management, Inc.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 18,308,100 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
18,308,100 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,308,100 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.79%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
CO
--------------------------------------------------------------------------------
CUSIP No. 367299104 13G Page 7 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ospraie Advisors, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 9,154,050 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.40%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
PN
--------------------------------------------------------------------------------
CUSIP No. 367299104 13G Page 8 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ospraie Advisors, LLC
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 9,154,050 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.40%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
OO
--------------------------------------------------------------------------------
CUSIP No. 367299104 13G Page 9 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Dwight Anderson
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 18,308,100 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
18,308,100 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,308,100 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.79%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
IN
--------------------------------------------------------------------------------
CUSIP No. 367299104 13G Page 10 of 19 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
John Duryea
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** (a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 9,154,050 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,154,050 shares of Common Stock
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES** |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.40%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON**
IN
--------------------------------------------------------------------------------
Page 11 of 19 Pages
Item 1(a). Name of Issuer:
The name of the issuer is Gastar Exploration Ltd. (the "Company")
Item 1(b). Address of Issuer's Principal Executive Offices:
The Company's principal executive offices are located at 1331 Lanver
Street, Suite 1080, Houston, Texas 77010
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) The Ospraie Portfolio Ltd., a Cayman Islands exempted company
("Portfolio"), with respect to the shares of Common Stock held
by it;
(ii) Ospraie Special Opportunities Master Holdings Ltd. a Cayman
Islands exempted company ("Master Holdings"), with respect to
the shares of Common Stock held by it;
(iii) Ospraie Management, LLC, a Delaware limited liability company
("Investment Manager"), which serves (a) as investment manager
to Portfolio, and (b) as managing member of Advisors LLC (as
defined below) with respect to the Common Shares directly
owned by Portfolio and Master Holdings;
(iv) Ospraie Holding I, L.P., a Delaware limited partnership
("Ospraie Holding"), which serves as the managing member of
Investment Manager, with respect to the Common Shares directly
owned by Portfolio and Master Holdings;
(v) Ospraie Management, Inc., a Delaware corporation ("Ospraie
Management"), which serves as the general partner of Ospraie
Holding, with respect to the Common Shares directly owned by
Portfolio and Master Holdings;
(vi) Ospraie Advisors, L.P., a Delaware limited partnership
("Advisors LP"), which serves as the investment manager to
Master Holdings with respect to the Common Shares directly
owned by Master Holdings;
(vii) Ospraie Advisors, LLC, a Delaware limited liability company
("Advisors LLC"), which serves as the general partner of
Advisors LP, with respect to the Common Shares directly owned
by Master Holdings;
(viii) Dwight Anderson ("Mr. Anderson"), the president and sole
shareholder of Ospraie Management; with respect to the shares
of Common Stock directly owned by Portfolio and Master
Holdings; and
(ix) John Duryea ("Mr. Duryea"), a portfolio manager of Advisors
LP, with respect to the Common Shares held by Master Holdings.
Page 12 of 19 Pages
The foregoing persons are hereinafter sometimes collectively
referred to as the "Reporting Persons." Any disclosures herein with respect to
persons other than the Reporting Persons are made on information and belief
after making inquiry to the appropriate party.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the business office of each of the Reporting Persons other
than Portfolio and Master Holdings is 320 Park Avenue, 27th Floor, New York, New
York 10022, U.S.A. The address of the office of Portfolio and Master Holdings is
c/o M&C Corporate Services Limited, PO Box 309 GT, Ugland House, South Church
Street, George Town, Grand Cayman, Cayman Islands.
Item 2(c). Citizenship:
Portfolio is a Cayman Islands exempted company. Master Holdings is a
Cayman Islands exempted company. Investment Manager is a limited liability
company organized under the laws of the State of Delaware. Ospraie Holding is a
limited partnership organized under the laws of the State of Delaware. Ospraie
Management is a corporation organized under the laws of the State of Delaware.
Advisors LP is a limited partnership organized under the laws of the State of
Delaware. Advisors LLC is a limited liability company organized under the laws
of the State of Delaware. Mr. Anderson is a United States citizen. Mr. Duryea is
a United States citizen.
Item 2(d). Title of Class of Securities:
Common Shares.
Item 2(e). CUSIP Number:
367299104
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [ ] Investment Adviser in accordance with Rule
13d-1 (b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with 13d-1 (b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance
with Rule 13d-1 (b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
Page 13 of 19 Pages
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940,
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check the box.[X]
Item 4. Ownership.
The percentages used herein are calculated based upon 208,203,570 shares
of Common Stock outstanding, as reported in the Company's Quarterly Report on
Form 10-Q for the period ended September 30, 2007.
A. The Ospraie Portfolio Ltd.
(a) Amount beneficially owned: 9,154,050 shares of Common Stock
(b) Percent of Class: 4.40%.
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote: 0
(ii) shared power to vote or direct the vote: 9,154,050
shares of Common Stock
(iii) sole power to dispose or direct the disposition: 0
(iv) shared power to dispose or direct the
disposition: 9,154,050 shares of Common Stock.
B. Ospraie Special Opportunities Master Holdings, Ltd.
(a) Amount beneficially owned: 9,154,050 shares of Common Stock
(b) Percent of Class: 4.40%.
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote: 0
(ii) shared power to vote or direct the vote: 9,154,050
shares of Common Stock
(iii) sole power to dispose or direct the disposition: 0
(iv) shared power to dispose or direct the disposition:
9,154,050 shares of Common Stock.
Page 14 of 19 Pages
C. Ospraie Management, LLC
(a) Amount beneficially owned: 18,308,100 shares of Common Stock
(b) Percent of class: 8.79%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 18,308,100
shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
18,308,100 shares of Common Stock.
D. Ospraie Holding I, L.P.
(a) Amount beneficially owned: 18,308,100 shares of Common Stock
(b) Percent of class: 8.79%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 18,308,100
shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
18,308,100 shares of Common Stock.
E. Ospraie Management, Inc.
(a) Amount beneficially owned: 18,308,100 shares of Common Stock
(b) Percent of class: 8.79%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 18,308,100
shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 0
18,308,100 shares of Common Stock.
F. Ospraie Advisors, L.P.
(a) Amount beneficially owned: 9,154,050 shares of Common Stock
(b) Percent of class: 4.40%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 9,154,050
shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
9,154,050 shares of Common Stock.
Page 15 of 19 Pages
G. Ospraie Advisors, LLC
(a) Amount beneficially owned: 9,154,050 shares of Common Stock
(b) Percent of class: 4.40%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 9,154,050
shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 0
9,154,050 shares of Common Stock.
H. Dwight Anderson
(a) Amount beneficially owned: 18,308,100 shares of Common Stock
(b) Percent of class: 8.79%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 18,308,100
shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
18,308,100 shares of Common Stock.
I. John Duryea
(a) Amount beneficially owned: 9,154,050 shares of Common Stock
(b) Percent of class: 4.40%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 9,154,050
shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
9,154,050 shares of Common Stock.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than 5
percent of the class of securities, check the following [ ]
Page 16 of 19 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control Person.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Each of the Reporting Persons hereby makes the following certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
Page 17 of 19 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: February 14, 2008
OSPRAIE MANAGEMENT, LLC
By: Ospraie Holding I, L.P.,
its Managing Member
By: Ospraie Management, Inc.,
its General Partner
By: /s/ Kirk Rule
--------------------------
Kirk Rule
Authorized Signatory
OSPRAIE HOLDING I, L.P.
By: Ospraie Management, Inc.,
its General Partner
By: /s/ Kirk Rule
--------------------------
Kirk Rule
Authorized Signatory
OSPRAIE MANAGEMENT, INC.,
By: /s/ Kirk Rule
--------------------------
Kirk Rule
Authorized Signatory
OSPRAIE ADVISORS, L.P.
By: Ospraie Advisors, LLC,
its General Partner
By: Ospraie Management, LLC,
its Managing Member
By: Ospraie Holding I, L.P.,
its Managing Member
By: Ospraie Management, Inc.,
its General Partner
By: /s/ Kirk Rule
--------------------------
Kirk Rule
Authorized Signatory
Page 18 of 19 Pages
OSPRAIE ADVISORS, LLC
By: Ospraie Management, LLC,
its Managing Member
By: Ospraie Holding I, L.P.,
its Managing Member
By: Ospraie Management, Inc.,
its General Partner
By: /s/ Kirk Rule
--------------------------
Kirk Rule
Authorized Signatory
THE OSPRAIE PORTFOLIO LTD.
By: Ospraie Management, LLC,
its Investment Manager
By: Ospraie Holding I, L.P.,
its Managing Member
By: Ospraie Management, Inc.,
its General Partner
By: /s/ Kirk Rule
--------------------------
Kirk Rule
Authorized Signatory
OSPRAIE SPECIAL OPPORTUNITIES MASTER
HOLDINGS LTD.
By: Ospraie Advisors L.P.,
its Investment Manager
By: Ospraie Advisors, LLC,
its General Partner
By: Ospraie Management, LLC,
its Managing Member
By: Ospraie Holding I, L.P.,
its Managing Member
By: Ospraie Management, Inc.,
its General Partner
By: /s/ Kirk Rule
--------------------------
Kirk Rule
Authorized Signatory
Page 19 of 19 Pages
DWIGHT ANDERSON
By: /s/ Kirk Rule
--------------------------
Kirk Rule, Attorney-in-fact
JOHN DURYEA
By: /s/ Kirk Rule
--------------------------
Kirk Rule, Attorney-in-fact
EXHIBIT INDEX
Exhibit 99.1 - Joint Filing Agreement
Exhibit 99.2 - Power of Attorney, dated December 13, 2006, granted by Dwight
Anderson in favor of Kirk Rule, Eric Vincent and Michael
Fischer (incorporated by reference to Exhibit 99.1 of the
Schedule 13G filed by the reporting persons (other than
Portfolio and Master Holdings) on December 14, 2006 with
respect to Gastar Exploration Ltd.).
Exhibit 99.2 - Power of Attorney, dated December 13, 2006, granted by John
Duryea in favor of Kirk Rule, Eric Vincent and Michael Fischer
(incorporated by reference to Exhibit 99.2 of the Schedule 13G
filed by the reporting persons (other than Portfolio and
Master Holdings) on December 14, 2006 with respect to Gastar
Exploration Ltd.).