-----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, PjxnJFOq/oqnt9v51VN6YbZAYNLjJIWznsVAaIglMnGU03gldhH/3Hfu4jR4D55g 8sqprNbRiKVMf34T1XeAMA== 0000899140-07-001449.txt : 20070817 0000899140-07-001449.hdr.sgml : 20070817 20070817151807 ACCESSION NUMBER: 0000899140-07-001449 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20070817 DATE AS OF CHANGE: 20070817 GROUP MEMBERS: SOOHYUNG KIM GROUP MEMBERS: STANDARD GENERAL MASTER FUND L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENN OCTANE CORP CENTRAL INDEX KEY: 0000893813 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172] IRS NUMBER: 521790357 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-46901 FILM NUMBER: 071065072 BUSINESS ADDRESS: STREET 1: 77-530 ENFIELD LANE BLDG D CITY: PALM DESERT STATE: CA ZIP: 92211 BUSINESS PHONE: 7607729080 MAIL ADDRESS: STREET 1: 77-530 ENFIELD LANE BLDG D CITY: PALM DESERT STATE: CA ZIP: 92211 FORMER COMPANY: FORMER CONFORMED NAME: INTERNATIONAL ENERGY DEVELOPMENT CORP DATE OF NAME CHANGE: 19940302 FORMER COMPANY: FORMER CONFORMED NAME: RUSSIAN FUND DATE OF NAME CHANGE: 19940302 FORMER COMPANY: FORMER CONFORMED NAME: KALININGRAD FUND DATE OF NAME CHANGE: 19930106 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Standard General L.P. CENTRAL INDEX KEY: 0001409888 IRS NUMBER: 680645436 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 650 MADISON AVENUE, 26TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-610-9175 MAIL ADDRESS: STREET 1: 650 MADISON AVENUE, 26TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G 1 s3881036a.txt INITIAL FILING UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* Penn Octane Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.01 - -------------------------------------------------------------------------------- (Title of Class of Securities) 707573101 --------- (CUSIP Number) August 7, 2007 -------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] 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 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 ("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). Page 1 of 8 - ------------------------------ ----------------------- CUSIP No. 707573101 13G Page 2 of 8 Pages - ------------------------------ ----------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Standard General 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 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 1,401,000 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,401,000 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,401,000 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.11% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Page 2 of 8 - ------------------------------ ----------------------- CUSIP No. 707573101 13G Page 3 of 8 Pages - ------------------------------ ----------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Standard General Master Fund 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 Cayman Islands - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 1,401,000 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,401,000 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,401,000 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.11% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Page 3 of 8 - ------------------------------ ----------------------- CUSIP No. 707573101 13G Page 4 of 8 Pages - ------------------------------ ----------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Soohyung Kim - ---------- --------------------------------------------------------------------- 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 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 1,401,000 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,401,000 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,401,000 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.11% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Page 4 of 8 Item 1(a) Name of Issuer: -------------- Penn Octane Corporation Item 1(b) Address of Issuer's Principal Executive Offices: ----------------------------------------------- 77-530 Enfield Lane, Building D, Palm Desert, California 92211 Items 2(a) Name of Person Filing: --------------------- This statement is filed by: (i) Standard General L.P. ("Standard General") with respect to shares of Common Stock, par value $.01 ("Shares"), of the Issuer beneficially owned by Standard General Master Fund L.P. ("Standard General Master Fund"); (ii) Standard General Master Fund with respect to Shares beneficially owned by it; and (iii) Soohyung Kim with respect to Shares beneficially owned by Standard General and Standard General Master Fund. Standard General, Standard General Master Fund and Mr. Kim have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended. Item 2(b) Address of Principal Business Office: ------------------------------------ The address of the principal business office of (i) Standard General and Mr. Kim is 650 Madison Avenue, 26th Floor, New York, NY 10022 and (ii) Standard General Master Fund is Walkers SPV Limited, Walker House, Mary Street, George Town, Grand Cayman, Cayman Islands KY1-1002. Item 2(c) Citizenship: ----------- Standard General is a Delaware limited partnership. Standard General Master Fund is a Cayman Islands limited partnership. Mr. Kim is a United States citizen. Item 2(d) Title of Class of Securities: ---------------------------- Common Stock, par value $.01 Page 5 of 8 Item 2(e) CUSIP Number: ------------ 707573101 Item 3 Not Applicable Item 4 Ownership: --------- The percentages used herein are calculated based upon 15,386,187 Shares issued and outstanding as of May 14, 2007 according to Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 21, 2007. As of the close of business on August 16, 2007: 1. Standard General L.P. (a) Amount beneficially owned: 1,401,000 (b) Percent of class: 9.11% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,401,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,401,000 2. Standard General Master Fund L.P. (a) Amount beneficially owned: 1,401,000 (b) Percent of class: 9.11% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,401,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,401,000 3. Soohyung Kim (a) Amount beneficially owned: 1,401,000 (b) Percent of class: 9.11% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 1,401,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 1,401,000 Standard General and Mr. Kim own directly no Shares. Pursuant to an investment management agreement, Standard General has all investment and voting power with respect to the securities held by Standard General Master Fund. Mr. Kim controls Standard General. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of Standard General and Mr. Kim may be deemed to own beneficially Page 6 of 8 1,401,000 Shares (constituting approximately 9.11% of the Shares outstanding). Each of Standard General and Mr. Kim disclaim beneficial ownership of any of the securities covered by this statement. 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. [ ] 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: ------------- By signing below the signatory certifies that, to the best of his 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 7 of 8 SIGNATURE --------- 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. Dated: August 17, 2007 STANDARD GENERAL L.P. By: /s/ Scott Cohen ---------------------------------- Name: Scott Cohen Title: Authorized Person STANDARD GENERAL MASTER FUND L.P. By: /s/ Scott Cohen ---------------------------------- Name: Scott Cohen Title: Authorized Person SOOHYUNG KIM By: /s/ Scott Cohen ---------------------------------- Name: Scott Cohen Title: Authorized Person Page 8 of 8 EX-99.1 2 s3881036b.txt JOINT FILING AGREEMENT Exhibit 99.1 JOINT FILING AGREEMENT The undersigned hereby agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. Dated: August 17, 2007 STANDARD GENERAL L.P. By: /s/ Scott Cohen ---------------------------------- Name: Scott Cohen Title: Authorized Person STANDARD GENERAL MASTER FUND L.P. By: /s/ Scott Cohen ---------------------------------- Name: Scott Cohen Title: Authorized Person SOOHYUNG KIM By: /s/ Scott Cohen ---------------------------------- Name: Scott Cohen Title: Authorized Person -----END PRIVACY-ENHANCED MESSAGE-----