-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TFpCpe26Y7PCy2EgvqOsVmL7cF9cIJ6ZnQjwdFVPc8AIwhGXQPOZZXLt6Qtd9/pl 9evUuq8gq3omjpuRZwOGdg== 0000950134-06-012863.txt : 20060707 0000950134-06-012863.hdr.sgml : 20060707 20060707165039 ACCESSION NUMBER: 0000950134-06-012863 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060707 DATE AS OF CHANGE: 20060707 GROUP MEMBERS: ANDREW MORRIS GROUP MEMBERS: CHASM LAKE MANAGEMENT SERVICES LLC GROUP MEMBERS: PERSISTENCY PRIVATE EQUITY LIMITED SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CANARGO ENERGY CORP CENTRAL INDEX KEY: 0000310316 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 910881481 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-37625 FILM NUMBER: 06951783 BUSINESS ADDRESS: STREET 1: P.O. BOX 291 STREET 2: ST. PETER PORT CITY: GUERNSEY, C.I. STATE: X0 ZIP: GY1 3RR BUSINESS PHONE: 44 1481 729980 MAIL ADDRESS: STREET 1: P.O. BOX 291 STREET 2: ST. PETER PORT CITY: GUERNSEY, C.I. STATE: X0 ZIP: GY1 3RR FORMER COMPANY: FORMER CONFORMED NAME: FOUNTAIN OIL INC DATE OF NAME CHANGE: 19950119 FORMER COMPANY: FORMER CONFORMED NAME: ELECTROMAGNETIC OIL RECOVERY INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ORS CORP /OK/ DATE OF NAME CHANGE: 19910515 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PERSISTENCY CENTRAL INDEX KEY: 0001309425 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: P.O. BOX 309 CITY: GEORGE TOWN STATE: E9 ZIP: 00000 BUSINESS PHONE: 212-582-3276 MAIL ADDRESS: STREET 1: P.O. BOX 309 CITY: GEORGE TOWN STATE: E9 ZIP: 00000 SC 13G 1 f21981sc13g.htm SCHEDULE 13G sc13g
 

     
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. )*

CanArgo Energy Corp.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
137225108
(CUSIP Number)
June 28, 2006
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     þ Rule 13d-1(c)

     o Rule 13d-1(d)

* 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 the purpose 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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 
 

 

                     
CUSIP No.
  
137225108 
   Page  
2 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS:
Persistency
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   þ
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Cayman Islands, B. W. I.
       
  5   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   18,901,400
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    18,901,400
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  18,901,400
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  8.1%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  CO

2

 

                     
CUSIP No.
  
137225108 
   Page  
3 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS:
Persistency Private Equity Limited
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   þ
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Gibraltar
       
  5   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   500,000
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    500,000
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  500,000
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  0.2%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  OO

3

 

                     
CUSIP No.
  
137225108 
   Page  
4 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS:
Chasm Lake Management Services, LLC d/b/a Persistency Capital
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   þ
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Delaware
       
  5   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   19,401,400
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    19,401,400
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  19,401,400
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  8.3%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  OO

4

 

                     
CUSIP No.
  
137225108 
   Page  
5 
   of   
10 

 

           
1   NAMES OF REPORTING PERSONS:
Andrew Morris
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
   
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   þ
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  United Kingdom
       
  5   SOLE VOTING POWER:
     
NUMBER OF   32,500
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   19,401,400
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   32,500
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    19,401,400
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  19,433,900
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  8.3%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN

5

 

                     
CUSIP No.
  
137225108 
   Page  
6 
   of   
10 
     
Item 1(a).   Name of Issuer:
 
    CanArgo Energy Corp.
 
     
 
Item 1(b).   Address of Issuer’s Principal Executive Offices:
 
PO Box 291
St Peter Port
Guernsey, C.I. XOGV13RR
 
     
 
Item 2(a).   Name of Persons Filing:
 
Persistency
Persistency Private Equity Limited
Chasm Lake Management Services, LLC d/b/a Persistency Capital
Andrew Morris
 
     
 
Item 2(b).   Address of Principal Business Office or, if None, Residence:
 
Persistency
PO Box 309
George Town
Cayman Islands
British West Indies
 
Persistency Private Equity Limited
57/63 Line Wall Road
Gibraltar
 
Persistency Capital
850 7th Avenue, Suite 701
New York, New York 10019
 
Andrew Morris
c/o Persistency Capital
850 7th Avenue, Suite 701
New York, New York 10019
 
     
 
Item 2(c).   Citizenship:
 
Persistency — George Town, Cayman Islands B.W.I.
 
Persistency Private Equity Limited — Gibraltar
 
Chasm Lake Management Services, LLC, d/b/a Persistency Capital — Delaware
 
Andrew Morris — United Kingdom
 
     
 
Item 2(d).   Title of Class of Securities:
 
Common Stock
 
     
 
Item 2(e).   CUSIP Number: 137225108
 
     

6

 

                     
CUSIP No.
  
137225108 
   Page  
7 
   of   
10 
     
Item 3.   If this statement is filed pursuant to §240.13d-1(b) or §240.13d-2(b) or (c), check whether the person filing is a:
 
        (a)   o Broker or dealer registered under section 15 of the Act (15 U.S.C.78o).
 
        (b)   o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
 
        (c)   o Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
 
        (d)   o Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
 
        (e)   o An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E).
 
        (f)   o An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F).
 
        (g)   o A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).
 
        (h)   o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
 
        (i)   o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).
 
        (j)   o Group, in accordance with §240.13d-1(b)(1)(ii)(J).
 
Item 4.   Ownership.
 
    A) Amount beneficially owned:
 
Persistency — 18,901,400 shares
Persistency Private Equity Limited — 500,000 shares
Chasm Lake Management Services, LLC d/b/a Persistency Capital — 19,401,400 shares
Andrew Morris — 19,433,900 shares
 
B) Percent of class:
 
Persistency — 8.1%
Persistency Private Equity Limited — 0.2%
Chasm Lake Management Services, LLC d/b/a Persistency Capital — 8.3%
Andrew Morris — 8.3%
 
C) Number of shares as to which the person has:
 
Persistency
 
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 18,901,400
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 18,901,400
 
Persistency Private Equity Limited
 
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 500,000
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 500,000
 
Chasm Lake Management Services, LLC d/b/a Persistency Capital
 
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 19,401,400
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 19,401,400
 
Andrew Morris
 
(i) Sole power to vote or to direct the vote: 32,500

7

 

                     
CUSIP No.
  
137225108 
   Page  
8 
   of   
10 
     
    (ii) Shared power to vote or to direct the vote: 19,401,400
(iii) Sole power to dispose or to direct the disposition of: 32,500
(iv) Shared power to dispose or to direct the disposition of: 19,401,400
 
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 five percent of the class of securities, check the following: o
 
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.
 
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.
 
Not Applicable

8

 

                     
CUSIP No.
  
137225108 
   Page  
9 
   of   
10 
SIGNATURES
     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. I hereby agree that this statement shall be filed jointly on behalf of each of the undersigned pursuant to the Joint Filing Agreement attached hereto as Exhibit 1.
Dated: July 7, 2006
         
  Persistency
 
 		  
  By:   /s/ Andrew J. Morris  
    Name:   Andrew J. Morris  
    Title:   Director  
 
 
  Persistency Private Equity Limited
 
 		  
  By:   /s/ Andrew J. Morris  
    Name:   Andrew J. Morris  
    Title:   Authorized Signatory  
 
 
  Chasm Lake Management Services LLC
d/b/a Persistency Capital
 
 		  
  By:   /s/ Andrew J. Morris  
    Name:   Andrew J. Morris  
    Title:   Managing Director  
 
 
  Andrew Morris
 
 		  
  By:   /s/ Andrew J. Morris  
    Andrew J. Morris    

9

 

                     
CUSIP No.
  
137225108 
   Page  
10 
   of   
10 
         
EXHIBIT 1
JOINT FILING AGREEMENT
     Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree to file a joint statement containing the information required by Schedule 13G with respect to the beneficial ownership by each of the undersigned of shares of Common Stock of CanArgo Energy Corp.
     This agreement may be executed in any number of counterparts, each of which shall be deemed an original.
     EXECUTED this 7th day of July, 2006.
         
  Persistency
 
 		  
  By:   /s/ Andrew J. Morris  
    Name:   Andrew J. Morris  
    Title:   Director  
 
 
  Persistency Private Equity Limited
 
 		  
  By:   /s/ Andrew J. Morris  
    Name:   Andrew J. Morris  
    Title:   Authorized Signatory  
 
 
  Chasm Lake Management Services LLC
d/b/a Persistency Capital
 
 		  
  By:   /s/ Andrew J. Morris  
    Name:   Andrew J. Morris  
    Title:   Managing Director  
 
 
  Andrew Morris
 
 		  
  By:   /s/ Andrew J. Morris  
    Andrew J. Morris  

10

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