SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE l3D
Under the Securities Exchange Act of 1934
(Amendment No. __)*
PATINA OIL & GAS CORPORATION
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
US 7032241058
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(CUSIP Number)
with a copy to:
Krista L. Ward George J. Mazin
Stark Investments Lowenstein, Sandler, Kohl,
150 West Market Street Fisher & Boylan, P.A.
Mequon, WI 53092 65 Livingston Avenue
(414) 241-1810 Roseland, New Jersey 07068
(201) 992-8700
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(Name, Address and Telephone Number
of Person Authorized to Receive
Notices and Communications)
October 30, 1996
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(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule l3G 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 [ ].
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule l3d-1(a) for other parties to whom copies are to be
sent.
*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
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).
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CUSIP NO. US 7032241058
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1) Names of Reporting Persons (S.S. or I.R.S. Identification Nos. of Above
Persons):
Michael A. Roth and Brian J. Stark (filing as joint filers pursuant to
Rule 13(d)1(f)(1))
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2) Check the Appropriate Box if a Member of a Group (See Instructions):
(a) Not
(b) Applicable
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3) SEC Use Only
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4) Source of Funds (See Instructions):WC
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e):
Not Applicable
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6) Citizenship or Place of Organization:
Wisconsin
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Number of 7) Sole Voting Power: 0
Shares Beneficially ---------------------------------------
Owned by 8) Shared Voting Power: 1,230,133*
Each Reporting ---------------------------------------
Person With: 9) Sole Dispositive Power: 0
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10) Shared Dispositive Power: 1,230,133*
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11) Aggregate Amount Beneficially Owned by Each Reporting Person:
1,230,133*
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions):
Not Applicable
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13) Percent of Class Represented by Amount in Row (11):
5.99*
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14) Type of Reporting Person (See Instructions): IN
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* Includes: 677,140 Shares beneficially owned by Reliant Trading upon the
conversion of 201,275 shares of the Issuer's preferred stock and
conversion of 92,637 of the Issuer's warrants; 237,552 Shares
beneficially owned by Shepherd Trading Limited upon the conversion of
68,451 shares of the Issuer's preferred stock and conversion of 38,770
of the Issuer's warrants; and 315,441 Shares beneficially owned by Staro
Partners upon the conversion of 93,080 shares of the Issuer's preferred
stock and conversion of 45,137 of the Issuer's warrants. See Item 2 and
Item 5 for additional details.
Item 1: Security and Issuer:
This statement relates to the Common Stock of Patina Oil & Gas Corporation
("Shares"). The issuer has principal executive offices located at 1625 Broadway,
Suite 2000, Denver, Colorado 80202.
Item 2: Identity and Background
1.
a) Name: Brian J. Stark
b) Residence or Business Address: 1500 West Market Street
Mequon, WI 53092
c) Occupation: Investment Fund Manager
Staro Asset Management, L.L.C., Stark & Roth,
Inc., Staro Partners
1500 West Market Street
Mequon, WI 53092
d) Convictions: none
e) Civil Proceedings: none
f) Citizenship: United States
2.
a) Name: Michael A. Roth
b) Residence or Business Address: 1500 West Market Street
Mequon, WI 53092
c) Occupation: Investment Fund Manager
Staro Asset Management, L.L.C.,
Stark & Roth, Inc., Staro Partners
1500 West Market Street
Mequon, WI 53092
d) Convictions: none
e) Civil Proceedings: none
f) Citizenship: United States
3.
a) Name: Staro Partners
b) State of Organization: Wisconsin
c) Principal Business: Securities Trading
d) Address of principal business: 1500 West Market Street
Mequon, WI 53092
e) Address of Principal Office: same
f) Convictions: none
g) Civil proceedings: none
4.
a) Name: Reliant Trading
b) State of Organization: Wisconsin
c) Principal Business: Securities Trading
d) Address of principal business: 1500 West Market Street
Mequon, WI 53092
e) Address of Principal Office: same
f) Convictions: none
g) Civil proceedings: none
5.
a) Name: Shepherd Trading Limited
b) State of Organization: British Virgin Islands
c) Principal Business: Securities Trading
Address of principal business: c/o International Fund
Administration, Ltd.
48 Par-La Ville Road, Suite 464
Hamilton, HM 11 Bermuda
d) Address of Principal Office: same
e) Convictions: none
f) Civil proceedings: none
Item 3: Source and Amount of Funds or Other Consideration
All funds used by Reliant Trading to purchase Shares acquired by
Reliant Trading, upon conversion of the Issuer's preferred stock and warrants,
were obtained from the capital contributed by the limited partners of Stark
Investments, L.P. and general margin financing to Reliant Trading from brokers.
The amount of funds used in making the purchases was $4,715,520. The funds used
by Shepherd Trading Limited to purchase the Shares acquired by Shepherd Trading
Limited, upon conversion of the Issuer's preferred stock and warrants, were
obtained from the capital contributed by the shareholders of Shepherd Fund
Limited. The amount of funds used in making the purchase was $1,569,416. All
funds used by Staro Partners to purchase Shares acquired by Staro Partners, upon
conversion of the Issuer's preferred stock and warrants, were obtained from the
assets of Staro Partners. The amount of funds used in making the purchase was
$2,407,717.
Item 4: Purpose of Transaction
The acquisition of the Shares by Reliant Trading, by Shepherd Trading
Limited and by Staro Partners are solely for investment purposes. Further
acquisitions, sales or short sales of securities of the issuer may be made for
investment purposes, however, neither reporting person has present plans or
intentions which relate to or would result in any of the transactions required
to be described in Item 4 of Schedule 13D.
Item 5: Interest in Securities of the Issuer
Based upon the information contained in Patina Oil & Gas Corporation's
quarterly report on Form 10-Q for the quarterly period ending September 30,
1996, there were issued and outstanding 19,295,832 Shares. Messrs. Stark and
Roth beneficially own 1,230,133 Shares or 5.99% of the Shares. 677,140 of such
Shares are held by Reliant Trading. Messrs. Stark and Roth have shared power to
vote or direct the vote and shared power to dispose or direct the disposition of
the 677,140 Shares by virtue of their position as members of STARO ASSET
MANAGEMENT, L.L.C., the managing partner of Reliant Trading. 237,552 Shares are
held by Shepherd Trading Limited. Messrs. Stark and Roth have shared power to
vote or direct the vote and shared power to dispose or direct the disposition of
the 237,552 Shares by virtue of their position as investment manager of Shepherd
Trading Limited. 315,441 of such Shares are held by Staro Partners. Messrs.
Stark and Roth have shared power to vote or direct the vote and shared power to
dispose or direct the disposition of the 315,441 Shares by virtue of their
position as the partners of Staro Partners.
The following Table details the transactions by Reliant Trading,
Shepherd Trading Limited and Staro Partners in Patina Oil & Gas Corporation's
preferred stock and warrants during the past 60 days:
Shepherd Trading Limited
Date Quantity Price Transaction Type
7/23/96 1,385 24.00 Open Mkt. Purchase
8/15/96 1,712 24.77 Open Mkt. Purchase
8/29/96 233 24.25 Open Mkt. Purchase
9/4/96 1,667 25.12 Open Mkt. Sale
9/4/96 222 25.00 Open Mkt. Purchase
9/5/96 1,000 25.12 Open Mkt. Purchase
9/12/96 200 25.12 Open Mkt. Purchase
9/13/96 1,900 25.50 Open Mkt. Purchase
9/13/96 2,762 7.37 Open Mkt. Sale
9/13/96 1,641 7.25 Open Mkt. Sale
9/17/96 667 25.25 Open Mkt. Purchase
10/4/96 944 7.37 Open Mkt. Sale
10/17/96 1,011 1.37 Open Mkt. Purchase
10/18/96 197 1.37 Open Mkt. Purchase
10/29/96 93,800 8.12 Open Mkt. Purchase
10/29/96 64,600 28.25 Open Mkt. Sale
10/30/96 93,800 8.00 Open Mkt. Sale
10/30/96 47,300 27.62 Open Mkt. Purchase
10/30/96 17,300 27.75 Open Mkt. Purchase
10/30/96 1,923 27.50 Open Mkt. Purchase
10/30/96 1,257 1.37 Open Mkt. Purchase
11/5/96 2,219 1.25 Open Mkt. Purchase
11/6/96 986 8.12 Open Mkt. Sale
11/8/96 19,899 1.50 Open Mkt. Purchase
11/11/96 1,989 8.50 Open Mkt. Sale
11/13/96 199 8.62 Open Mkt. Sale
11/15/96 1,887 28.25 Open Mkt. Purchase
Reliant Trading
Date Quantity Price Transaction Type
7/1/96 100 23.00 Open Mkt. Purchase
7/22/96 685 24.25 Open Mkt. Purchase
7/23/96 3,015 24.00 Open Mkt. Purchase
8/15/96 5,190 24.77 Open Mkt. Purchase
8/29/96 735 24.25 Open Mkt. Purchase
9/4/96 1,667 25.12 Open Mkt. Sale
9/4/96 674 25.00 Open Mkt. Purchase
9/5/96 1,000 25.12 Open Mkt. Purchase
9/12/96 200 25.12 Open Mkt. Purchase
9/13/96 1,900 25.50 Open Mkt. Purchase
9/13/96 8,381 7.37 Open Mkt. Sale
9/13/96 5,588 7.25 Open Mkt. Sale
9/17/96 667 25.25 Open Mkt. Purchase
10/4/96 2,781 7.37 Open Mkt. Sale
10/17/96 2,044 1.37 Open Mkt. Purchase
10/18/96 399 1.37 Open Mkt. Purchase
10/21/96 100 27.62 Open Mkt. Purchase
10/29/96 2,000 28.00 Open Mkt. Purchase
10/30/96 5,505 27.50 Open Mkt. Purchase
10/30/96 2,543 1.37 Open Mkt. Purchase
11/5/96 4,487 1.25 Open Mkt. Purchase
11/6/96 1,994 8.12 Open Mkt. Sale
11/8/96 54,475 1.50 Open Mkt. Purchase
11/11/96 5,448 8.50 Open Mkt. Sale
11/13/96 545 8.62 Open Mkt. Sale
11/15/96 5,547 28.25 Open Mkt. Purchase
Staro Partners
Date Quantity Price Transaction Type
7/22/96 315 24.25 Open Mkt. Purchase
8/15/96 2,343 24.77 Open Mkt. Purchase
8/29/96 332 24.25 Open Mkt. Purchase
9/4/96 1,666 25.12 Open Mkt. Sale
9/4/96 304 25.00 Open Mkt. Purchase
9/5/96 1,000 25.12 Open Mkt. Purchase
9/12/96 200 25.12 Open Mkt. Purchase
9/13/96 1,900 25.50 Open Mkt. Purchase
9/13/96 3,857 7.37 Open Mkt. Sale
9/13/96 2,571 7.25 Open Mkt. Sale
9/17/96/ 666 25.25 Open Mkt. Purchase
10/4/96 1,275 7.37 Open Mkt. Sale
10/17/96 1,045 1.37 Open Mkt. Purchase
10/18/96 204 1.37 Open Mkt. Purchase
10/30/96 2,572 27.50 Open Mkt. Purchase
10/30/96 1,300 1.37 Open Mkt. Purchase
11/5/96 2,294 1.25 Open Mkt. Purchase
11/6/96 1,020 8.12 Open Mkt. Sale
11/8/96 25,626 1.50 Open Mkt. Purchase
11/11/96 2,563 8.50 Open Mkt. Sale
11/13/96 256 8.62 Open Mkt. Sale
11/15/96 2,566 28.25 Open Mkt. Purchase
No other entity controlled by the reporting persons has traded Patina Oil &
Gas Corporation shares within the past 60 days.
Item 6: Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
See Item 2.
Item 7: Material to be filed as exhibits.
Exhibit 1: Agreement as to joint filing.
<PAGE>
EXHIBIT 1
AGREEMENT AS TO JOINT FILING
Dated December 2, 1996
The undersigned hereby agree that the Schedule 13D with respect to Patina
Oil & Gas Corporation dated as of the date hereof is filed on behalf of each of
the undersigned jointly pursuant to Rule 13d-1(f)(1).
/s/Brian J. Stark
Brian J. Stark
/s/Michael A. Roth
Michael A. Roth
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned hereby certifies that the information set forth in this
statement is true, complete and correct.
December 2, 1996
/s/Brian J. Stark
Brian J. Stark
/s/ Michael A. Roth
Michael A. Roth
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
