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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.....)*
Great Eastern Energy and Development Corporation
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(Name of Issuer)
Common
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(Title of Class of Securities)
390323 - 10 - 3
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(CUSIP Number)
Ivan M. Diamond, Greenebaum Doll & McDonald PLLC, 3300 National City Tower,
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Louisville, KY 40202
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
August 11, 1997
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(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 [ ].
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).
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CUSIP No. 390323 - 10 - 3
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1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Above Persons
William T. Young, SS# ###-##-####
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
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(b)
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3) SEC Use Only
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4) Source of Funds (See Instructions) 00
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5) Check 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 U.S. Citizenship
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Number of (7) Sole Voting Power 0
Shares Bene- --------------------------------------------------------
ficially (8) Shared Voting Power
Owned by --------------------------------------------------------
Each Report- (9) Sole Dispositive Power 0
ing Person --------------------------------------------------------
With (10) Shared Dispositive Power
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11) Aggregate Amount Beneficially Owned by Each Reporting Person 0
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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13) Percent of Class Represented by Amount in Row (11) 0
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14) Type of Reporting Person See Instructions) IN
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[Schedule 13D cover page amended in Release No. 34-37692 ([Paragraph]85,845),
effective October 7, 1996,61 F.R. 49957.]
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SCHEDULE 13D
Item 1. Security and Issuer
This statement relates to the common stock of Great Eastern Energy and
Development Corporation (the "Corporation"), which is located at 5990 Greenwood
Plaza Boulevard, Suite 127, Greenwood Village, Colorado 80111-4708.
Item 2. Identity and Background
(a) Name: William T. Young
(b) Resident or business address
The address of the reporting person is P.O. Box 1110, Lexington,
Kentucky 40589.
(c) Present principal occupation or employment and the name, principal
business and address of corporations in which such employment is
conducted:
The reporting person is the Chairman of the Board of W.T. Young Storage
Co., which is located at P.O. Box 1110, Lexington, Kentucky 40589.
W.T. Young Storage is engaged in public warehousing, trucking, real
estate development and thoroughbred horse breeding and racing.
(d) The reporting person has not, during the past five years, been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) The reporting person has not, during the last five years, been a part
to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding been subject to a
judgment, decree of final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
(f) Citizenship:
The reporting person is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration:
Not applicable. The reporting person is disposing of securities.
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Item 4. Purpose of Transaction:
The reporting person has disposed of all of his 5,642,000 shares of the
Corporation's common stock. Those shares represented 29.2% of that
class of securities. The reporting person's shares of the Corporation's
common stock were disposed of pursuant to the tender offer of Caprito
Gas Corporation, a Texas corporation ("Caprito") on Form 14D-1 filed
July 11, 1997. On August 11, 1997, the tender offer was consummated.
Pursuant to the 14D-1, Caprito proposes to follow its successful tender
offer with a cash-out merger of the Corporation with Caprito or an
affiliate of Caprito. This second transaction affecting the non-
tendering shareholders will enable Caprito to obtain 100% of the
outstanding common stock of Great Eastern Energy and Development
Corporation. Following the merger, the sole director of the Corporation
will be Kevin O. Butler, the sole stockholder of Caprito.
Item 5. Interest in Securities of the Issuer:
(a) See Item 11 of the cover page.
(b) See Item 7 through 10 of cover page.
(c) Not applicable.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, such
securities.
(e) August 11, 1997
Item 6. Contracts, Arrangements, Understanding or Relationships With Respect to
Securities of the Issuer:
Not applicable.
Item 7. Material to be Filed as Exhibits:
Not applicable.
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.
Date: August 22, 1997 /s/ William T. Young
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Signature
William T. Young
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Name/Title
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