SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1
SCHEDULE 13D
Under the Securities Exchange Act of 1934
EAGLE GEOPHYSICAL, INC.
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(Name of Issuer)
Common Stock, $0.01 Par Value
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(Title of Class of Securities)
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269524104
(CUSIP NUMBER)
CAMBRIDGE INVESTMENTS, LTD.
600 Montgomery Street
43rd Floor
San Francisco, California 94111
Tel. No.: (415) 781-0866
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- with copies to -
Michael G. Tannenbaum, Esq.
Newman Tannenbaum Helpern Syracuse & Hirschtritt LLP
900 Third Avenue - 13th Floor
New York, New York 10022
(212) 508-6700
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December 10. 1997 and December 12, 1997
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G 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 [ ]
The information required in 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, as amended ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act.
Page 1 of 8 Pages
<PAGE>
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CUSIP No. 269524104 13D
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Cambridge Investments, Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
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6 CITIZEN OR PLACE OR ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY As of December 10, 1997, 688,950 Shares of Common Stock
OWNED BY (See Item 5)
EACH
REPORTING As of December 12, 1997, 588,050 shares of Common Stock
PERSON WITH (See Item 5)
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8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
As of December 10, 1997, 688,950 shares of Common Stock
(See Item 5.)
As of December 12, 1997, 588,050 shares of Common Stock
(See Item 5.)
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
588,050 shares of Common Stock (See Item 5.)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
Page 2 of 8 Pages
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
As of December 10, 1997, 8.11% of Common Stock (See Item 5)
As of December 12, 1997, 6.92% of Common Stock (See Item 5)
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14 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 3 of 8 Pages
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AMENDMENT NO. 1 TO
SCHEDULE 13D
This Amendment No. 1 to Schedule 13D is being filed on behalf
of Cambridge Investments, Ltd., a California corporation ("Cambridge" or "CIL"),
registered as an investment advisor in the State of California, regarding shares
of Eagle Geophysical, Inc.
acquired on behalf of certain of its clients.
Item 1. Security and Issuer
Securities acquired: Common Stock, $0.01 par value
Issuer: Eagle Geophysical, Inc. (the "Issuer")
50 Briar Hollow Lane
6th Floor, West
Houston, TX 77027
(713) 627-1990
Item 2. Identity and Background
There is no change in this section.
Item 3. Source and Amount of Funds
(a) As of December 10, 1997, Cambridge, through Cambridge
Energy, L.P. ("CELP"), Cambridge Energy Fund International Ltd. ("CEF")
Cambridge Oil & Gas, L.P. ("COG"), Cambridge Oil & Gas International, Ltd. ("COG
Int'l"), and Quantum Partners, LDC ("QUE") (collectively, the "Funds"), has
invested approximately $12,523,700.56 in Common Stock of the Issuer as described
in Item 5 below. CELP, CEF, COG, COG Int'l., and QUE have invested approximately
$3,678,247.05, $8,021,742.36, $533,020.25, $290,689.90, and $1,137,908.53,
respectively. The source of these funds was the respective working capital of
each of the Funds.
(b) As of December 12, 1997, Cambridge, through Cambridge
Energy, L.P. ("CELP"), Cambridge Energy Fund International Ltd. ("CEF")
Cambridge Oil & Gas, L.P. ("COG"), Cambridge Oil & Gas International, Ltd. ("COG
Int'l"), and Quantum Partners, LDC ("QUE") (collectively, the "Funds"), has
invested approximately $11,615,382.18 in Common Stock of the Issuer as described
in Item 5 below. CELP, CEF, COG, COG Int'l., and QUE have invested approximately
$3,678,247.05, $5,975,516.45, $533,020.25, $290,689.90, and $1,137,908.53,
respectively. The source of these funds was the respective working capital of
each of the Funds.
Page 4 of 8 Pages
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Item 4. Purpose of the Transaction
There is no change in this section.
Item 5. Interest in Securities of the Issuer
(a)(i) As of December 10, 1997 Cambridge is the beneficial
owner of 688,950 shares of Common Stock, or 8.11% of the shares outstanding. Of
the 688,950 shares of Common Stock described above, (i) 180,650 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of CELP; (ii) 410,750 are deemed beneficially owned by
Cambridge in its capacity as investment advisor for the institutional account of
CEF; (iii) 27,100 are deemed beneficially owned by Cambridge in its capacity as
investment advisor for the institutional account of COG; (iv) 14,500 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of COG Int'l.; and (v) 55,950 are deemed beneficially
owned by Cambridge in its capacity as investment advisor for the institutional
account of QUE.
(a)(ii) As of December 12, 1997 Cambridge is the beneficial
owner of 588,050 shares of Common Stock, or 6.92% shares of the shares
outstanding. Of the 588,050 shares of Common Stock described above, (i) 180,650
are deemed beneficially owned by Cambridge in its capacity as investment advisor
for the institutional account of CELP; (ii) 309,850 are deemed beneficially
owned by Cambridge in its capacity as investment advisor for the institutional
account of CEF; (iii) 27,100 are deemed beneficially owned by Cambridge in its
capacity as investment advisor for the institutional account of COG; (iv) 14,500
are deemed beneficially owned by Cambridge in its capacity as investment advisor
for the institutional account of COG Int'l.; and (v) 55,950 are deemed
beneficially owned by Cambridge in its capacity as investment advisor for the
institutional account of QUE.
The number of shares beneficially owned by Cambridge, and the
percentage of outstanding shares represented thereby, have been computed in
accordance with Rule 13d-3 under the Act. The percentage of ownership of
Cambridge on December 10, 1997 and December 12, 1997 is based on 8,489,000
outstanding shares of Common Stock as reported in the Issuer's 10-Q for the
quarter ended September 30, 1997.
(b) Cambridge has the sole power to vote and dispose of the
shares of Common Stock held for the institutional accounts of CELP, CEF, COG,
COG Int'l. and QUE.
(c) The transactions in the Issuer's securities by Cambridge
over the last sixty (60) days are listed as Annex A attached hereto and made
apart hereof.
(d) The Funds have the right to participate in the receipt of
dividends from, or proceeds from the sale of, securities held on behalf of such
funds.
(e) Not Applicable.
Page 5 of 8 Pages
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Item 6. Contracts, Arrangement, Understandings or Relationships with
Respect to Securities of the Issuer
There is no change in this section.
Item 7. Material to be Filed as Exhibits
There is no change in this section.
Page 6 of 8 Pages
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<TABLE>
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EGEO
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<S> <C> <C> <C> <C>
DATE ACCOUNT TRANS SHARES PRICE
(A/D) ($)
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11/14/97 PAL D 8,850 19.625
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11/14/97 QUE D 3100 19.62
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12/04/97 CIL A 1000 16.52
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12/04/97 CIL D 1000 16.99
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12/04/97 CIL A 1000 16.52
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12/05/97 CEF D 11500 16.26
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12/05/97 CEF D 1000 16.86
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12/05/97 CELP D 2350 16.26
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12/05/97 CELP D 1650 16.26
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12/05/97 CIL D 1000 16.25
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12/05/97 QUE D 1400 16.25
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12/08/97 CEF D 20000 17.16
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12/09/97 CEF D 1200 16.69
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12/09/97 CEF D 10000 16.75
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12/09/97 CELP D 3000 16.75
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12/09/97 QUE D 2000 16.74
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12/10/97 CEF D 5000 16.62
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12/10/97 CEF D 7100 15.76
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12/10/97 CELP D 3000 15.75
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12/10/97 QUE D 900 15.74
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12/11/97 CEF D 50000 15.75
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12/11/97 CEF D 900 15.44
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12/12/97 CEF D 35150 15.5
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12/12/97 CEF D 14850 15.5
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</TABLE>
Page 7 of 8 Pages
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Signatures
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: January 16, 1998
CAMBRIDGE INVESTMENTS, LTD.
By: /s/Jocelyn E. Weingart,
Vice President
Page 8 of 8 Pages
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