U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
Barry W. Blank
1661 E. Camelback, Suite 201
Phoenix, AZ 85016
2. Date of Event Requiring Statement (Month/Day/Year)
March 1, 1999
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Fortune Natural Resources Corporation FPX
5. Relationship of Reporting Person to issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below)
( ) Other (specify below)
6. If Amendment, Date of Original (Month/Day/Year)
<TABLE>
<CAPTION>
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TABLE I - Non-Derivative Securities Beneficially Owned
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1. Title of Security |2. Amount of Securities | 3. Ownership Form: | 4. Nature of Indirect Beneficial Ownership
(Instr. 4) | Beneficially Owned | Direct (D) or Indirect (I) | (Instr. 5)
| (Instr. 4) | (Instr. 5) |
- ------------------------ -------------------------- --------------------------- ---------------------------------------------------
<S> <C> <C> <C>
Common Stock 204,300 D
</TABLE>
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
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TABLE II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of |2. Date Exercisable |3. Title and Amount of Securities |4. Conversion |5. Ownership |6. Nature of Indirect |
Derivative | and Expiration | Underlying Derivative Security | or Exercise | Form of | Beneficial Ownership |
Security | Date | (Instr. 4) | Price of | Deritave | (Instr.5) |
(Instr. 4) | (Month/Day/Year) | | Derivative | Security: | |
| | | Security | Direct (D) | |
| Date Expira- | Amount or | | or Indirect | |
| Exer- tion | Number of | | (I) | |
| cisable Date | Title Shares | | (Instr. 5) | |
- ---------------- -------------------- ---------------------------------- --------------- ---------------- -------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Private Warrants 6/27/95 3/01/02 Common Stock 100,000 $2.03* D
Private Warrants 6/27/95 3/01/02 Common Stock 100,000 $2.03* D
Private Warrants 12/1/97 11/30/02 Common Stock 17,917 $3.60 D
Private Warrants 9/29/99 3/01/02 Common Stock 104,937 $2.61 D
Private Warrants 9/29/99 3/01/02 Common Stock 757,850 $2.61 D
Private Warrants 3/19/99 3/18/02 Common Stock 666,667 $1.00 D
Private Warrants 3/01/00 3/01/03 Common Stock 11,500 $1.50 D
Private Warrants 3/01/00 3/01/03 Common Stock 11,500 $2.25 D
Private Warrants 3/01/00 3/01/03 Common Stock 14,375 $1.50 D
Private Warrants 3/01/00 3/01/03 Common Stock 14,375 $2.25 D
12% Convert. Notes 5/01/99 12/31/07 Common Stock 666,667 $0.75 D
</TABLE>
Explanation of Responses:
*Price subject to redetermination based on anti-dilution provisions.
SIGNATURE OF REPORTING PERSON
/s/ Barry W. Blank
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DATE
March 26, 2000
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
