United States
Securities and Exchange Commission
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Name of Issuer: Black Giant Oil Company
Title of Class of Securities: Common
Cusip Number: 092036 10 2
Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications: Stephen M. Grosberg, 330 Madison Avenue, 8th Floor,
New York, New York 10017, 212-883-7749
Date of Event which Requires Filing of this Statement: September, 1997
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Sec. 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box. [ ]
1. Stephen M. Grosberg - ###-##-####
2.
3.
4. PF
5.
6. USA
7. 2,638,375
8. 570,000
9. 2,638,375
10. 570,000
11. 3,208,375
12.
13. 13.72%
14. IN and OO
Item 1. The title and class of equity securities to which this statement
relates is "Common Stock". The name and address of the principal executive
offices of the issuer is: Black Giant Oil Company, 1301 Avenue M, Cisco,
Texas 76437
Item 2.
(a) Name: Stephen M. Grosberg
(b) Business Address: 330 Madison Avenue, 8th Floor, New York, New York
10017
(c) Present Principal Occupation: Stockbroker
(d) Stephen M. Grosberg has not been convicted in any criminal
proceedings.
(e) Stephen M. Grosberg has not been a party to a civil proceeding in the
last 5 years.
(f) Stephen M. Grosberg is a U. S. Citizen.
Item 3.
Personal Funds
Item 4.
(a) Acquisition of Shares
Item 5.
(a) The number and percent of the class of securities held directly and
beneficially is 3,208,375 shares which represents 16.2% of the amount
outstanding.
(b) Stephen M. Grosberg has sole voting power over 2,638,375 shares
and has sole dispositive power over 2,638,375 shares. Stephen M. Grosberg
has shared voting and dispositive power over an additional 570,000 shares
of the Issuer's common stock.
(c) Zero shares were disposed of in the last 60 days.
(d) Not applicable.
(e) Not applicable.
Item 6.
Not applicable.
Item 7.
None.
SIGNATURE:
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.
/S/ Stephen M. Grosberg
July 1, 1998
