U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 4
[ __ ] Check this box if no longer subject to Section 16. Form
4 or Form 5 obligations may continue. See Instruction 1(b).
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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
Calaway John E.
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(Last) (First) (Middle)
Texaco Heritage Plaza, 1111 Bagby, Suite 2100
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(Street)
Houston Texas 77002
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(City) (State) (Zip)
Edge Petroleum Corporation (EPEX)
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2. Issuer Name and Ticker or Trading Symbol
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3. I.R.S. Identification Number of Reporting Person, if an entity
(Voluntary)
August 1998
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4. Statement for Month/Year
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5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director ______ 10% Owner
------
X Officer (give title below) ______ Other (specify below)
------
Chief Executive Officer
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<TABLE>
<CAPTION>
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
Security action action Code or Disposed of (D) Securities Form: Indirect
(Instr. 3) Date (Instr. 8) (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial
-------------- ------------------------- Owned at or Indirect (I) Ownership
End of (Instr. 4) (Instr. 4)
Month
(Instr. 3 and
4)
(Month/
Date/ (A) or
Year) Code V Amount (D) Price
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 7/17/98 S 2,824 D (1)
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
Common Stock 8/18/98 S 8,100 D 9.00
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
Common Stock 8/19/98 S 1,900 D 9.00
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
Common Stock 8/20/98 S 1,200 D 9.00
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
Common Stock 8/21/98 S 8,800 D 9.00
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
Common Stock 8/21/98 S 4,000 D 9.50
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- -------------------------
Common Stock 8/21/98 S 12,000 D 9.625
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
Common Stock 8/24/98 S 6,400 D 9.00 88,422 D
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
79,604 (2) I By Calaway Partners
- ------------- -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
314,944 I By Calaway Oil & Gas Cp.
- ------------ -------- ------ ---- ------- --- ------ ---------------- ------------- ------------------------
</TABLE>
(1) Exchange for personal property consisting of works of art having an
estimated market value of approximately $30,000.
(2) The reporting person disclaims beneficial ownership of these securities
except to the extent of his pecuniary interest, if any, therein. These
securities are held by Calaway partners, and the Partnership Agreement for
Calaway Partners (the "Partnership Agreement") includes provisions
specifying each partner's share of profits, net cash flow and capital
account of Calaway Partners. The Partnership Agreement was included as an
exhibit to John E. Calaway's Schedule 13D, dated March 13, 1997, as filed
with the Securities and Exchange Commission.
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).
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<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
Table II -- Derivative Securities Acquired, Disposed
of, or Beneficially Owned (e.g., puts, calls,
warrants, options, convertible securities)
2. Conversion or
Exercise 3. Transaction 5. Number of Derivative 6. Date Exercisable
1. Title of Derivative Price of Date 4. Transaction Securities Acquired and Expiration
Security Derivative (Month/Day/ Code (A) or Disposed of Date (Month/Day/
(Instr. 3) Security Year) (Instr. 8) (D) (Instr. 3, 4, and 5) Year)
-------------- -------------------------- --------------------
Date
Exer- Expiration
Code V (A) (D) cisable Date
<S> <C> <C> <C> <C> <C> <C> < C > <C>
(3)
-------------------- ---------------- -------------- ------ ------ ----------- -------------- -------- ----------
</TABLE>
(3) Excludes option grant previously reported.
<TABLE>
<CAPTION>
7. Title and Amount of 8. Price of Derivative 9. Number of Derivative 10. Ownership Form 11. Nature of Indirect
Underlying Securities Security (Instr. 5) Securities Beneficially of Derivative Beneficial
(Instr. 3 and 4) Owned at End of Month Security: Ownership (Instr.
- ------------------------ (Instr. 4) Direct (D) or
Indirect(I)
(Instr.4)
Amount or
Number of
Title Shares
<S> <C> <C> <C> <C> <C>
- --------- --------- --------------------- ------------------------ ---------------- ------------------
</TABLE>
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<PAGE>
Explanation of Responses:
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ John E. Calaway 09-09-98
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** Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for Procedure.
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