<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
AMENDMENT NO. 3
TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
GULF CANADA RESOURCES LIMITED
-----------------------------
(Name of Issuer)
COMMON STOCK, $.01 par value per share
--------------------------------------
(Title of Class of Securities)
40218L 30 5
---------------------
(CUSIP Number)
Carol A. McCoy, 2001 Third Avenue South, Birmingham, AL 35233 (205) 325-4243
------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 20, 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.
Check the following box if a fee is being paid with the statement____. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1, and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. 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).
(Continued on following page(s))
Page 1 of 7 Pages
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SCHEDULE 13D
CUSIP NO. 40218L 30 5
____________________________________________________________________________
(1) Names of Reporting Persons. . . . . . . . . . . . Torchmark Corporation
S.S. or I.R.S. Identification
Numbers of Above Persons. . . . . . . . . . . . . 63-0780404
____________________________________________________________________________
(2) Check the Appropriate Box if
a Member of a Group
(a) . . . . . . . . . . . . . . . . . . . . . . .
(b) . . . . . . . . . . . . . . . . . . . . . . .
___________________________________________________________________________
(3) SEC Use Only. . . . . . . . . . . . . . . . . . .
___________________________________________________________________________
(4) Source of Funds . . . . . . . . . . . . . . . . . 00
___________________________________________________________________________
(5) Check if Disclosure of Legal
Proceedings is Required
Pursuant to Items 2(d) or 2(e). . . . . . . . . .
___________________________________________________________________________
(6) Citizenship or Place of Organization. . . . . . . Delaware
___________________________________________________________________________
Number of (7) Sole Voting Power. . . . . . .935,157
Shares Bene- _______________________________________
ficially (8) Shared Voting Power. . . . . . . . 0
Owned by _______________________________________
Each Report- (9) Sole Dispositive Power . . . .935,157
ing Person _______________________________________
With (10) Shared Dispositive Power. . . . . 0
___________________________________________________________________________
(11) Aggregate Amount Beneficially Owned by
Each Reporting Person . . . . . . . . . . . . .935,157
____________________________________________________________________________
(12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares . . . . . . . . . . . .
____________________________________________________________________________
(13) Percent of Class Represented by
Amount in Row (11). . . . . . . . . . . . . . . . .003%
___________________________________________________________________________
(14) Type of Reporting Person. . . . . . . . . . . . . CO HC
____________________________________________________________________________
2
<PAGE>
SCHEDULE 13D
CUSIP NO. 40218L 30 5
____________________________________________________________________________
(1) Names of Reporting Persons. . .Liberty National Life Insurance Company
S.S. or I.R.S. Identification
Numbers of Above Persons. . . . . . . . . . . . . 63-0124600
____________________________________________________________________________
(2) Check the Appropriate Box if
a Member of a Group
(a) . . . . . . . . . . . . . . . . . . . . . . .
(b) . . . . . . . . . . . . . . . . . . . . . . .
___________________________________________________________________________
(3) SEC Use Only. . . . . . . . . . . . . . . . . . .
___________________________________________________________________________
(4) Source of Funds . . . . . . . . . (Not applicable (See Item 2)
___________________________________________________________________________
(5) Check if Disclosure of Legal
Proceedings is Required
Pursuant to Items 2(d) or 2(e). . . . . . . . . .
___________________________________________________________________________
(6) Citizenship or Place of Organization. . . . . . . Alabama
___________________________________________________________________________
Number of (7) Sole Voting Power. . . . . . .935,157
Shares Bene- _______________________________________
ficially (8) Shared Voting Power. . . . . . . . 0
Owned by _______________________________________
Each Report- (9) Sole Dispositive Power . . . .935,157
ing Person _______________________________________
With (10) Shared Dispositive Power. . . . . 0
___________________________________________________________________________
(11) Aggregate Amount Beneficially Owned by
Each Reporting Person . . . . . . . . . . . . .935,157
____________________________________________________________________________
(12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares . . . . . . . . . . . .
____________________________________________________________________________
(13) Percent of Class Represented by
Amount in Row (11). . . . . . . . . . . . . . . .003%
___________________________________________________________________________
(14) Type of Reporting Person. . . . . . . . . . . . CO IC
____________________________________________________________________________
3
<PAGE>
Item 1. Security and Issuer.
The Statement on Schedule 13D (the "Schedule 13D"), filed jointly on
February 6, 1995 by the persons listed on the signature pages thereto relating
to the beneficial ownership of ordinary shares (the "Ordinary Shares") of Gulf
Canada Resources Limited ("Gulf Canada"), a corporation incorporated under the
laws of Canada, and amended and supplemented by Amendment No. 1 to the Schedule
13D filed on , 1996 by Torchmark Corporation ("Torchmark") and Torch Energy
Advisors Incorporated ("Torch Energy") and Amendment No. 2 to the Schedule 13D
filed on , 1996 by Torch Energy, is hereby supplemented as set forth below by
Torchmark and its subsidiary, Liberty National Life Insurance Company
("Liberty"). Gulf Canada maintains its principal executive offices at 401 -
9/th/ Avenue SW, Calgary, Alberta T2P2H7.
Item 2. Identity and Background.
On August 20, 1997, United Investors Management Company ("UIMCO"), the
Torchmark subsidiary holding 935,157 Ordinary Shares of Gulf Canada, transferred
such 935,157 Ordinary Shares of Gulf Canada as a partial payment of a dividend
to its shareholder, Liberty National. UIMCO had previously disposed of the
warrants to purchase 7,119,396 Ordinary Shares ("Warrants") of Gulf Canada in
the period from January 7, 1997 through February 11, 1997 and no longer holds
any Gulf Canada Warrants.
This amendment is filed to reflect the transfer of Ordinary Shares and
disposition of Warrants and the cessation of beneficial ownership in excess of
5%.
Item 3. Source and Amount of Funds or Other Consideration.
Not applicable.
Item 4. Purpose of Transaction.
The Gulf Canada securities were acquired by Liberty as partial payment
of a dividend from its subsidiary, UIMCO.
(a) - (j) Not applicable.
Item 5. Interest in Securities of the Issuer.
(a)-(c) 935,157 shares .003% - Torchmark and Liberty Liberty has sole
power to vote and sole power to dispose the Ordinary Shares. Torchmark
has no power to vote or to dispose of the Ordinary Shares. Liberty
acquired its ordinary shares as a dividend payment on August 20, 1997,
within the past 60 days.
(d) Not applicable.
(e) Torchmark and Liberty ceased to be the beneficial owner of more
than 5% of the Ordinary Shares as of August 20, 1997.
4
<PAGE>
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
Not applicable.
Item 7. Material to be Filed as Exhibits
Not applicable.
5
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
TORCHMARK CORPORATION
By: /s/ Michael J. Klyce
-----------------------------------------
Michael J. Klyce
Vice President and Treasurer
LIBERTY NATIONAL LIFE INSURANCE COMPANY
By: /s/ Michael J. Klyce
-----------------------------------------
Michael J. Klyce
Treasurer
6
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EXECUTIVE OFFICERS AND DIRECTORS OF LIBERTY
(a)-(c) C. B. Hudson Chairman & CEO; Director
Anthony L. McWhorter President; Director
Vurl E. Duce Executive Vice President & Chief Agency
Officer; Director
Hillary Carnley, Jr. Senior Vice President; Director
Tony G. Brill Senior Vice President
Larry M. Hutchison Secretary & General Counsel; Director
S. Newell Cheesborough Senior Vice President
Jack A. Kelley, Jr. Senior Vice President
Address: 2001 Third Avenue South
Birmingham, Alabama 35233
(d) None.
(e) All are U.S. citizens.
