<PAGE>
/------------------------------/
/ OMB APPROVAL /
/------------------------------/
/ OMB Number: 3235-0287 /
/ Expires: December 31, 2001 /
/ Estimated average burden /
/ hours per response...... 0.5 /
/------------------------------/
+--------+
| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[X] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
--------------------------------------------------------------------------------
1. Name and Address of Reporting Person*
Cambrian Capital Partners, L.P.
--------------------------------------------------------------------------------
(Last) (First) (Middle)
Two Houston Center, 909 Fannin, Suite 3150
--------------------------------------------------------------------------------
(Street)
Houston Texas 77010
--------------------------------------------------------------------------------
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Pan Western Energy Corporation (PWEC)
-------------------------------------
3. I.R.S. Identification Number of Reporting Person, if an entity
(voluntary) 76-0504672
--------------
4. Statement for Month/Year September 2000
---------------------------------------------------
5. If Amendment, Date of Original (Month/Year)
---------------------------------
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
Director Officer X 10% Owner Other
--- --- --- ---
(give title below) (specify below)
----------------------------------------------------------------
7. 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
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
---------------------------------------------------
Code V (A) (D)
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Common Stock Warrant (right to buy) $2.00 09/28/00 H(1) 200,000
-----------------------------------------------------------------------------------------------------------------------------
Common Stock Warrant (right to buy) $2.00 09/28/00 H(1) 200,000
-----------------------------------------------------------------------------------------------------------------------------
Common Stock Warrant (right to buy) $7.00 09/28/00 P(1) 70,000
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Security: ficial
(Instr. ficially Direct (D) Owner-
-------------------------------------------- 5) Owned or ship
Date Expira- Amount or at End Indirect (I) (Instr.
Exer- tion Title Number of of (Instr. 4) 4)
cisable Date Shares Month
(Instr. 4)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Immed. 06/30/03 Common Stock 200,000 (2) 0 D
------------------------------------------------------------------------------------------------------------------------------------
Immed. 06/30/03 Common Stock 200,000 (2) 0 D
------------------------------------------------------------------------------------------------------------------------------------
Immed. 06/30/03 Common Stock 70,000 (2) 70,000 D
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
(1) The warrant for 70,000 shares was issued in consideration for the
cancellation of the two warrants for 200,000 shares each.
(2) Each warrant for 200,000 shares was issued as additional consideration for
a loan made to Pan Western Energy Corporation and the warrant for 70,000 shares
was issued in consideration for the cancellation of such warrants.
Cambrian Capital Partners, L.P.
By: Cambrian Capital Corporation
its general partner
/s/ Raymond O. Weems 10/06/00
----------------------------------- -----------------
Raymond O. Weems, Managing Director Date
**Signature of Reporting Person
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If this form is filed by more than one reporting person, see
Instruction 4(b)(v).
** 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 provided 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 OBM Page 2
Number. SEC 1474(7-96)