-----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, WFBtdjpfE8WQs+OxEWAjPT/dhUiGgf2fWDXF6tIStqSgSCZxYCJn3B7zCfS6DpLx PB48uNha+FCI0W5AEFDhTg== 0001058217-98-000011.txt : 19980506 0001058217-98-000011.hdr.sgml : 19980506 ACCESSION NUMBER: 0001058217-98-000011 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980505 SROS: NONE GROUP MEMBERS: DANE EDWARD NATHAN ET AL GROUP MEMBERS: DANE, FALB, STONE & CO., INC. GROUP MEMBERS: EDWARD NATHAN DANE GROUP MEMBERS: FIRETHORN I LIMITED PARTNERSHIP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TOREADOR ROYALTY CORP CENTRAL INDEX KEY: 0000098720 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 750991164 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-06308 FILM NUMBER: 98610075 BUSINESS ADDRESS: STREET 1: 530 PRESTON COMMONS WEST STREET 2: 8117 PRESTON ROAD CITY: DALLAS STATE: TX ZIP: 75225 BUSINESS PHONE: 2143690080 MAIL ADDRESS: STREET 1: 530 PRESTON COMMONS WEST STREET 2: 8117 PRESTON ROAD CITY: DALLAS STATE: TX ZIP: 75225 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DANE EDWARD NATHAN ET AL CENTRAL INDEX KEY: 0000944803 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 030282431 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 33 BROAD STREET CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-742-2304 MAIL ADDRESS: STREET 1: 33 BROAD STREET CITY: BOSTON STATE: MA ZIP: 02109 SC 13D/A 1 AMENDMENT NO.5 TO SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A-5 UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO.5) TOREADOR ROYALTY CORPORATION - -------------------------------------------------------------------------------- (Name of issuer) COMMON STOCK $0.15625 PAR VALUE - -------------------------------------------------------------------------------- 891041 10 5 - -------------------------------------------------------------------------------- (Cusip Number) PETER L. FALB 33 BROAD STREET BOSTON, MA 02109 Telephone: (617) 742-0666 Facsimile (617) 742-2304 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 27, 1998 - -------------------------------------------------------------------------------- (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d- 1(b)(3) or (4), check the following box [ ]. Check the following box if a fee is being paid with the statement [ ]. - -------------------------- -------------------------- CUSIP No. 891041 10 5 SCHEDULE 13D/A-5 Page 2 of 9 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Peter Lawrence Falb ###-##-#### - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS PF - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER 111,000 NUMBER OF -------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY OWNED BY 732,300 EACH -------------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON WITH: 111,000 -------------------------------------------------- 10. SHARED DISPOSITIVE POWER 732,300 - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 843,300 - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.93% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN ================================================================================ - -------------------------- -------------------------- CUSIP No. 891041 10 5 SCHEDULE 13D/A-5 Page 3 of 9 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Edward Nathan Dane ###-##-#### - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS 00 - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER 0 NUMBER OF -------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY OWNED BY 732,300 EACH -------------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON WITH: 0 -------------------------------------------------- 10. SHARED DISPOSITIVE POWER 732,300 - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 732,300 - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.71% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN ================================================================================ - -------------------------- -------------------------- CUSIP No. 891041 10 5 SCHEDULE 13D/A-5 Page 4 of 9 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Firethorn I Limited Partnership 04-3064184 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS 00 - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER 170,000 NUMBER OF -------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY OWNED BY 0 EACH -------------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON WITH: 170,000 -------------------------------------------------- 10. SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 170,000 - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.41% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN ================================================================================ - -------------------------- -------------------------- CUSIP No. 891041 10 5 SCHEDULE 13D/A-5 Page 5 of 9 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Dane, Falb, Stone & Co., Inc. 04-2622331 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ] (B) [X] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS 00 - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER 561,500 NUMBER OF -------------------------------------------------- SHARES 8. SHARED VOTING POWER BENEFICIALLY OWNED BY 800 EACH -------------------------------------------------- REPORTING 9. SOLE DISPOSITIVE POWER PERSON WITH: 561,500 -------------------------------------------------- 10. SHARED DISPOSITIVE POWER 800 - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 562,300 - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.29% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IA ================================================================================ CUSIP No. 891041 10 5 The Schedule 13D previously filed by the undersigned (the "Reporting Persons") with respect to the Common Stock, $.15625 par value, of Toreador Royalty Corporation (the "issuer") is hereby amended as follows: Item 3 is amended and restated to read in its entirely as follows: ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION: As to 562,300 shares, portfolio funds of investment advisees of Dane, Falb, Stone & Co., Inc. Item 4 is hereby supplemented as follows: ITEM 4 PURPOSE OF TRANSACTION: (a) Item 4 is hereby supplemented, as follows: All the shares were purchased and are being held for investment purposes. Increases in the percentages reported herein from those previously reported were caused in some part by a decrease in the number of shares outstanding. Ownership of the shares is as follows: (i) Investment advisory clients of Dane, Falb, Stone & Co., Inc. ("DFS"), an investment adviser registered under the Investment Advisers Act of 1940, hold 562,300 shares. Of those shares, DFS has sole voting and dispositive power with respect to 561,500 shares and shared voting and dispositive power with respect to 800 shares. Peter L. Falb and Edward Nathan Dane are the principals and sole stockholders of DFS and to the extent that DFS has the power to vote and dispose of the shares held by its investment advisory clients, they share such power. The acquisition of such 562,300 shares was made in the ordinary course of business and not with the purpose nor with the effect of changing or influencing the control of the issuer nor in connection with or as a participant in any transaction having such purpose or effect. The beneficial ownership by DFS of such shares has properly been reported on Schedule 13G. (ii) Mr. Falb owns 111,000 shares directly or indirectly through family members. Page 6 of 9 Pages CUSIP No. 891041 10 5 (iii) Mr. Dane does not own any shares directly or indirectly through family members or otherwise. (iv) Firethorn I Limited Partnership ("Firethorn I") is a private investment partnership which directly owns 170,000 shares. (b) Mr. Falb, on April 27, 1998, sent a letter to Mr. John Mark McLaughlin, Chairman, Toreador Royalty Corporation, the text of which was as follows: Dear Sir, Apparently, ethical standards of good faith business dealing are different in Dallas and in Boston. Our opposition to any transaction was made crystal clear to you. Your press release of April 27 does not mention the fact that major [shareholders] vigorously oppose your action and will take any and all steps necessary to prevent further disregard for the shareholder's interest. As a substantial shareholder of Toreador Royalty, I demand that you provide the following items to me and to my Delaware attorney: Mr. Jesse Finkelstein Richards, Layton & Finger One Rodney Square Wilmington, DE 19801 (A similar demand with additional requirements will shortly be sent from the registered [shareholders]: Karen F. Falb, Trustee, the Hilary Bell Falb 1983 Trust and Karen F. Falb, Trustee, the Alison Forslund Falb 1985 Trust); 1) CURRENT Shareholder's List; 2) All expense records of officers and directors and justification for same for the past nine years (particularly, Mr. Vig's travel, club and entertainment expenses); 3) A list of all suppliers, vendors, geologists, partners, etc. dealt with by Toreador during the past nine years and a statement of the relationships (if any) with directors and officers of Toreador; 4) Business plans and budgets for the past nine years together with the Board's criteria for evaluating management performance; 5) All material relating to the private placement of shares at a substantial discount with Page 7 of 9 Pages CUSIP No. 891041 10 5 particular emphasis on the rationale for such a dilution of shareholder value; 6) All material relating to drilling, leasing activity in Arkansas with particular emphasis on the COMPLETE details of ALL LOSSES deriving from such activity; 7) All material relating to negotiations with third parties (e.g. Union Pacific Resources) regarding the "Red Cave" formation; 8) All employment contracts and a statement of the basis for compensation, benefits, etc. The stewardship of public company is a SERIOUS FIDUCIARY DUTY. As a substantial shareholder, I must insist that the Board and Management properly meet their obligation to the shareholders. Sincerely, ITEM 5 IS AMENDED AND RESTATED TO READ IN ITS ENTIRETY AS FOLLOWS:
ITEM 5(A) SHARES BENEFICIALLY PERCENTAGE OWNED OF CLASS ------------ ---------- Peter L. Falb 843,300 16.93% Edward Nathan Dane 732,300 14.71% Dane, Falb, Stone & Co. Inc. 562,300 11.29% Firethorn I Limited Partnership 170,000 3.41%
ITEM 5(B)
SOLE SHARED SOLE SHARES VOTING VOTING DISPOSITIVE DISPOSITIVE POWER POWER POWER POWER ------ ------ ----------- ----------- Peter L. Falb 111,000 732,300 111,000 732,300 Edward Nathan Dane -- 732,300 -- 732,300 Dane, Falb, Stone & Co., Inc. 561,500 800 562,300 800 Firethorn I Limited Partnership 170,000 -- 170,000 --
Page 8 of 9 Pages CUSIP No. 891041 10 5 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.
May 1, 1998 /s/ Peter L. Falb ---------------------------------------- May 1, 1998 /s/ Edward Nathan Dane ---------------------------------------- DANE, FALB, STONE & CO., INC. May 1, 1998 By: /s/ Peter L. Falb, Treasurer ------------------------------------ May 1, 1998 By: /s/ Edward Nathan Dane, President ------------------------------------ FIRETHORN I LIMITED PARTNERSHIP By: FIRETHORN II LIMITED PARTNERSHIP, its general partner By: EAGLEROCK CORPORATION, its general partner May 1, 1998 By: /s/ Peter L. Falb, Treasurer ------------------------------------ May 1, 1998 By: /s/ Edward Nathan Dane, President ------------------------------------
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