SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* EDELMAN THOMAS J (Last) (First) (Middle) 1625 BROADWAY, SUITE 2000 (Street) DENVER CO 80202 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol PATINA OIL & GAS CORP [ POG ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Chairman of the Board & CEO
	3. Date of Earliest Transaction (Month/Day/Year) 10/07/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/07/2003		M		39,400	A	$2.52	467,427	D
Common Stock	10/07/2003		S		39,400	D	$39.3398	428,027	D
Common Stock								139,075	I	401K
Common Stock(1)								1,314,693	I	Deferred Comp. Plan
Common Stock(1)								35,938	I	by Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	$2.52	10/07/2003		M			39,400	04/12/2000	04/12/2004	Common Stock	39,400	$2.52	300,000	D
Incentive Stock Option (right to buy)(2)	$14.47							02/21/2002	02/21/2006	Common Stock	6,909		6,909	D
Incentive Stock Option (right to buy)(2)	$16.49							02/19/2003	02/19/2007	Common Stock	6,063		6,063	D
Incentive Stock Option (right to buy)(2)	$27.18							03/07/2004	03/07/2008	Common Stock	3,679		3,679	D
Non-Qualified Stock Option (right to buy)(2)	$5.88							02/18/2001	02/18/2005	Common Stock	166,275		166,275	D
Non-Qualified Stock Option (right to buy)(2)	$14.47							02/21/2002	02/21/2006	Common Stock	185,278		185,278	D
Non-Qualified Stock Option (right to buy)(2)	$16.49							02/19/2003	02/19/2007	Common Stock	228,313		228,313	D
Non-Qualified Stock Option (right to buy)(2)	$27.18							03/07/2004	03/07/2008	Common Stock	226,321		226,321	D

Explanation of Responses:

1. See remarks below if applicable.

2. See remarks below if applicable.

Remarks:

Table II Column 6 - Exercisable Date: The exercisable dates listed on the form 4 are the first exercisable date from the grant date. The following options were issued with the following grants dates and vested 30% at the end of the first year from grant date, an additional 30% at the end of the second year from grant date and an additional 40% at the end of the third year from the date of grant: 300,000 non-qualified stock options with an exercise price of $2.52 per share were granted on 4/12/99 and are currently exercisable; 166,275 non-qualified stock options with an exercise price of $5.88 per share were granted on 2/18/00 and are currently exercisable; 6,909 incentive stock options and 185,278 non-qualified stock options with an exercise price of $14.47 per share were granted on 2/21/01 with 115,312 of the non-qualified options currently exercisable; 6,063 incentive stock options and 228,313 non-qualified stock options with an exercise price of $16.49 per share were granted on 2/19/02 with 70,312 non-qualified options currently exercisable; 3,679 incentive stock options and 226,321 non-qualified stock options with an exercise price of $27.18 per share were granted on 3/7/03 with none being currently exercisable. Table II Column 8 - Price of Derivative Security: Price of derivative security is zero for stock options on date of grant.

	/s/ Thomas J. Edelman	10/07/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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