<PAGE> OMB Number 3235-0287
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FORM 4
/ / Check this box if no longer
subject to Section 16. Form 4 or
Form 5 obligations may continue.
See Instruction 1(b).
U.S. 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, Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
1. Name and Address of Reporting Person *
<< Westcliff Capital Management, LLC >>
(Last) (First) (Middle)
<< 200 Seventh Avenue, Suite 105, Santa Cruz, CA 95062 >>
(Street), (City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
<< Huntway Refining Company (HWY) >>
3. IRS or Social Security Number of Reporting Person (Voluntary) ________
4. Statement for Month/Year
<< 12-99 >>
5. If Amendment, Date of Original (Month/Year) ___________
6. Relationship of reporting person to issuer
(Check all applicable)
<< ____ Director XXX 10% Owner >>
____ Officer (give ____ Other (specify
title below) below)
______________________
7. Individual or Joint/Group Filing (Check Applicable line)
<< XXX Form filed by one Reporting Person >>
____ Form filed by More than One Reporting Person
<PAGE>
FORM 4 (continued) Page 2 of 4 Pages
Table I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
1. Title of Security (Instr. 3)
<< Common Stock >>
2. Transaction Date (Month/Day/Year)
<< 12-31-99 >>
3. Transaction Code (Instr. 8)
Code V
<< J(1) ____ >>
4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
Amount (A) or (D) Price
<< 91,636 D N/A >>
<< 91,636 A N/A >>
5. Amount of Securities Beneficially Owned at End of Month
(Inst. 3 and 4)
<< 472,267>>
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
<< I >>
7. Nature of Indirect Beneficial Ownership (Inst. 4)
<< As General Partner of Limited Partnership>>
___________________________________________________________________________
Reminder: Report on a separate line for each class of
securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person,
see Instruction 4(b)(v). SEC 1474 (3-99)
<PAGE>
FORM 4 (continued) Page 3 of 4 Pages
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)
______________
4. Transaction Code (Instr. 8)
Code ______ V ______
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
(A) _____________ (D) ______________
6. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
____________________ ________________________
7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
Title __________________________ Amount or Number of Shares ________
8. Price of Derivative Security (Instr. 5)
_______________
9. Number of derivative Securities Beneficially Owned at End of Month
(Instr. 4)
_______________
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
__________________
11. Nature of Indirect Beneficial Ownership (Inst. 4)
_____________________________________________________________________
___________________________________________________________________________
<PAGE>
FORM 4 (continued) Page 4 of 4 Pages
Explanation of Responses:
<< The reporting person has only a pro rata interest in the securities
reported and disclaims beneficial ownership of the securities reported
except to the extent of the reporting person's pecuniary interest. >>
<<(1) An investment limited partnership of which the Reporting Person is
general partner distributed 91,636 shares of common stock to certain of its
limited partners, who then contributed such common stock to another
investment limited partnership of which the Reporting Person also is
general partner. The total number of shares of common stock indirectly
beneficially owned by the Reporting Person therefore remains unchanged.
Westcliff Capital Management, LLC
/s/ Richard S. Spencer, III
By: Richard S. Spencer III, Manager 01-7-00
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute
Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection
of information contained in this form are not required to respond
unless the form displays a currently valid OMB Number.
ETR\3804\008\1080660.01
