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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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AMENDMENT NO. 1
TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
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MAXX PETROLEUM LTD.
(Name of Issuer)
COMMON SHARES
(Title of Class of Securities)
57777D20
(CUSIP Number)
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MARK PHIPPS
CANFUND VE MANAGEMENT LTD.
SUITE 530, 400 5TH AVENUE S.W.
CALGARY, ALBERTA T2P 0L6
TEL. NO.: (403)
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
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NOVEMBER 23, 2000
(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(e), 1(f) or 1(g), check the following box.|_|
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-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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57777D20 PAGE 2 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CanFund VE Management Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Alberta
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7 SOLE VOTING POWER
NUMBER OF 2,534,700
SHARES --------------------------------------------
BENEFICIALLY OWNED 8 SHARE VOTING POWER
BY EACH REPORTING
PERSON -0-
WITH --------------------------------------------
9 SOLE DISPOSITIVE POWER
2,534,700
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,534,700
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.06%
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14 TYPE OF REPORTING PERSON
CO
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57777D20 PAGE 3 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CanFund VE Investors, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Alberta
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7 SOLE VOTING POWER
NUMBER OF 2,534,700
SHARES --------------------------------------------
BENEFICIALLY OWNED 8 SHARE VOTING POWER
BY EACH REPORTING
PERSON -0-
WITH --------------------------------------------
9 SOLE DISPOSITIVE POWER
2,534,700
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,534,700
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.06%
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14 TYPE OF REPORTING PERSON
PN
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57777D20 PAGE 4 OF 7 PAGES
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Item 1. SECURITY AND ISSUER.
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This Amendment No. 1 to Schedule 13D is filed by the
undersigned to amend and supplement the Schedule 13D, dated as of October 16,
2000 ("Original 13D") with respect to the Common Shares (the "Common Shares") of
Maxx Petroleum Ltd., an Alberta corporation (the "Company"). The address of the
principal executive offices of the Company is Suite 900, 606 4th Street SW,
Calgary, Alberta T2P 1T1.
Item 2. IDENTITY AND BACKGROUND.
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Unchanged.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
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In November 2000, the Reporting Persons purchased an
additional 1,429,100 Common Shares through The Toronto Stock Exchange. The
Reporting Persons used working capital to purchase the Common Shares.
Item 4. PURPOSE OF TRANSACTION.
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The Reporting Persons acquired the Common Shares for
investment purposes and the Reporting Persons hold the Common Shares for
investment purposes. The Reporting Persons reviews and analyzes on a continuing
basis its investments, including the Common Shares, in order to determine
whether shareholder value is better served by holding those investments,
disposing of or monetizing those investments or approaching management and/or
the board of directors of such company to seek changes to maximize long-term
shareholder value for its shareholders. As part of this review, the Reporting
Persons are
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57777D20 PAGE 5 OF 7 PAGES
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currently considering all of its options, including without limitation, whether
the Reporting Persons should:
(i) continue to hold all of its Common Shares;
(ii) acquire additional Common Shares;
(iii) dispose of some or all of the Common Shares owned by them;
(iv) approach management and/or the board of directors of the Company to
encourage alternative transactions for maximizing shareholder value;
(v) solicit proxies from significant shareholders of the Company to obtain
sufficient votes to replace the majority of the board of directors of
the Company; or
(vi) any combination of the foregoing.
If the Reporting Persons were to pursue one of the transactions described in
clauses (ii) through (vi) above, it is possible that one or more of the
consequences listed in paragraphs (a) - (j) of Item 4 of Schedule 13D could
occur.
CanFund has requisitioned a meeting of the shareholders of the
Company with the intent, should CanFund have sufficient shareholder support, to
replace the majority of the board of directors of the Company. In conjunction
with this, CanFund is actively soliciting proxies from significant shareholders
to obtain a majority of the votes. This solicitation is pursuant to a regulatory
exemption that CanFund received from the Alberta Securities Commission. In
addition, CanFund is continuing to have discussions with the management and the
board of directors of the Company with respect to the composition of the board
of directors of the Company.
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57777D20 PAGE 6 OF 7 PAGES
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Item 5. INTEREST IN SECURITIES OF THE ISSUER.
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Item 5 is hereby amended and restated in its entirety as
follows:
(a) As of the date hereof, CanFund and Investors each
owns of record no Common Shares and 2,534,700 Common Shares, respectively, or
0.0% and 16.06%, respectively, of the Company's issued and outstanding Common
Shares.
(b) Each of the Reporting Persons has the sole power to
direct the vote and the sole power to direct the disposition of the 2,534,700
Common Shares that may be deemed to be owned beneficially by each of them.
(c) On November 20, 2000, the Reporting Persons sold an
aggregate of 14,800 Common Shares through The Toronto Stock Exchange, at a net
price per share of Cdn.$5.07, for an aggregate net sale price of Cdn.$74,744.44.
On November 23, 2000, the Reporting Persons acquired an aggregate of 1,429,100
Common Shares through The Toronto Stock Exchange, at a net price per share of
Cdn.$5.25, for an aggregate net purchase price of Cdn.$7,502,775.00.
(d) No person other than the persons listed is known to
have the right to receive or the power to direct the receipt of dividends from,
or the proceeds from the sale of, any securities owned by any member of the
group.
(e) Not Applicable.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIP WITH
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RESPECT TO THE SECURITIES OF THE ISSUER.
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Not Applicable.
Item 7. MATERIALS TO BE FILED AS EXHIBITS.
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Not Applicable.
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57777D20 PAGE 7 OF 7 PAGES
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated as of November 27, 2000.
CANFUND VE MANAGEMENT LTD.
By: /s/ Mark Phipps
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Name: Mark Phipps
Title: Vice President
CANFUND VE INVESTORS, L.P.
By: /s/ Mark Phipps
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Name: Mark Phipps
Title: Vice President
