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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
PrimeEnergy Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.10 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
74158E104
------------------------------------------------------------
(CUSIP Number)
Michael A. Varet, Esq.
Piper & Marbury L.L.P.
53 Wall Street
New York, New York 10005
(212) 858-5356
- ------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 3, 1996
--------------------------------------------------------------------
(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).
SEC 1746 (12-91)
Page 1 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104
- ------ -------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert de Rothschild
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
3 SEC USE ONLY
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
France
- ------ -------------------------------------------------------------------------
------- --------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 14,000
------- --------------------------------------------------
------- --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ----
------- --------------------------------------------------
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 14,000
------- --------------------------------------------------
------- --------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
----
------- --------------------------------------------------
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
530,361
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.0
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 2 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104
- ------ -------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Amrace Inc.
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
3 SEC USE ONLY
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware (USA)
- ------ -------------------------------------------------------------------------
------- --------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 200,000
------- --------------------------------------------------
------- --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ----
------- --------------------------------------------------
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 200,000
------- --------------------------------------------------
------- --------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
----
------- --------------------------------------------------
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
200,000
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.2
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 3 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104
- ------ -------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The American Energy Co., Inc.
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
3 SEC USE ONLY
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware (USA)
- ------ -------------------------------------------------------------------------
------- --------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 293,732
------- --------------------------------------------------
------- --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ----
------- --------------------------------------------------
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 293,732
------- --------------------------------------------------
------- --------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
----
------- --------------------------------------------------
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
293,732
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 4 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104
- ------ -------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
A. Stanley Gluck
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
3 SEC USE ONLY
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ------ -------------------------------------------------------------------------
------- --------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF ----
------- --------------------------------------------------
------- --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 22,629
------- --------------------------------------------------
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ----
------- --------------------------------------------------
------- --------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
22,629
------- --------------------------------------------------
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--0--
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
--0--
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN OO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 5 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104
- ------ -------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael A. Varet
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
3 SEC USE ONLY
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- ------ -------------------------------------------------------------------------
- ------ -------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ------ -------------------------------------------------------------------------
------- --------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF ----
------- --------------------------------------------------
------- --------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 22,629
------- --------------------------------------------------
------- --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ----
------- --------------------------------------------------
------- --------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
22,629
------- --------------------------------------------------
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--0--
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
--0--
- -------- -----------------------------------------------------------------------
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN OO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 6 of 14
<PAGE>
Item 1. Security and Issuer.
This Schedule 13-D relates to the Common Stock ($.10 par value) of
PrimeEnergy Corporation ("PEC"). PEC's principal office is located at One
Landmark Square, Stamford, Connecticut 06901.
Item 2. Identity and Background.
This Schedule is being filed on behalf of the group of PEC Common
Stock holders that consists of (i) Amrace Inc., (ii) The American Energy Co.,
Inc., (iii) Robert de Rothschild and (iv) a trust of which Mr. de Rothschild
is the current income beneficiary and Messrs. A. Stanley Gluck and Michael A.
Varet are the trustees. Each of the corporations identified in clauses (i)
and (ii), and the trust referred to in clause (iv), disclaims beneficial
ownership, and power to vote or dispose of, securities the ownership of which
is reported on by any of the others or by Mr. de Rothschild.
<TABLE>
<C> <C> <C> <C> <C>
Criminal Legal
Name and Business Address Citizenship Occupation Conviction** Proceedings***
Amrace Inc. ("Amrace") Delaware Holding No No
1013 Centre Road Company
Wilmington, Delaware 19805-1297
The American New York Holding No No
Energy Co., Inc. ("AEC") Company
c/o A. Stanley Gluck
1251 Avenue of the Americas
New York, New York 10020
Robert de Rothschild France Investor No No
51st Floor
1251 Avenue of the Americas
New York, New York 10020
A. Stanley Gluck* U.S.A. Executive No No
New Court Services Inc.
1251 Avenue of the Americas
New York, New York 10020
Michael A. Varet* U.S.A. Lawyer No No
Seventh Floor
53 Wall Street
New York, New York 10005
__________________
<FN>
* As co-trustee of a trust for the benefit of Robert de Rothschild.
** Response in this column indicates whether or not, during the last
five years, such person has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
*** Response in this column indicates whether or not, during the last
five years, such person was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as
a result of such proceeding was or is subject to a judgment, decree
or final order enjoining further violations of, or prohibiting or
mandating activities subject to, Federal or State securities laws or
finding any violation with respect to such laws.
</FN>
</TABLE>
Page 7 of 14
<PAGE>
The following information is furnished with respect to those
reporting persons which are corporations:
2.1 Amrace Inc.
2.1.1 Directors
2.1.1(a) A. Stanley Gluck
Business Address:
c/o New Court Services Inc.
1251 Avenue of the Americas
51st Floor
New York, New York 10020
Principal Occupation:
President
New Court Services Inc.
1251 Avenue of the Americas
51st Floor
New York, New York 10020
Ownership of PEC
Securities: See cover sheet for A. Stanley Gluck
Citizenship: U.S.A.
2.1.1(b) Michael A. Varet
Business Address:
c/o Piper & Marbury L.L.P.
53 Wall Street
New York, New York 10005
Page 8 of 14
<PAGE>
Principal occupation:
Lawyer
Piper & Marbury L.L.P.
53 Wall Street
New York, New York 10005
Ownership of PEC
Securities: See cover sheet for Michael A. Varet
Citizenship U.S.A.
2.1.2 Executive Officers
2.1.2(a) A. Stanley Gluck - President (See 2.1.1(a) above)
2.1.2(b) Michael A. Varet - Vice President (See 2.1.1 (b)
above)
2.1.3 Control Person
Robert de Rothschild
Business Address:
51st Floor
1251 Avenue of the Americas
New York, New York 10020
Principal Occupation: Private Investor
Ownership of PEC
Securities: See cover sheet for Robert de Rothschild
Citizenship: France
Page 9 of 14
<PAGE>
2.2 The American Energy Co., Inc.
2.2.1 Directors
2.2.1(a) A. Stanley Gluck (See 2.1.1(a) above)
2.2.1(b) Michael A. Varet (See 2.1.1(b) above)
2.2.2 Executive Officers
2.2.2(a) A. Stanley Gluck - President and Treasurer
(See 2.1.1(a) above)
2.2.2(b) Michael A. Varet - Vice President and Secretary
(See 2.1.1(b) above)
2.2.3 Control Person
Robert de Rothschild
(See 2.1.3 above)
Other Matters. None of Messrs. de Rothschild, Gluck, or
Varet has during the past five years (a) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors), or (b)
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to
a judgment, decree or final order enjoining further violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
Item 3. Source of Funds.
All PEC Common Stock owned by the Reporting Persons was acquired by
purchase utilizing, in the case of Robert de Rothschild his personal funds;
in the case of the previously mentioned trust of which Messrs. Gluck
and Varet are co-trustees, funds constituting the principal of the trust; and,
in the case of Amrace, working capital, except that the 293,732 shares of PEC
Common Stock owned by AEC were acquired by AEC as a distribution from a joint
venture in which it is a participant. No borrowed funds have been used by any
of the Reporting Persons to acquire PEC Common Stock.
Page 10 of 14
<PAGE>
Item 4. Purpose of Transaction.
The purpose of the Reporting Persons in acquiring the PEC Common Stock
is to hold the stock for investment. Although the Reporting Persons may
develop other plans or proposals in the future, at present they have no plans
or proposals which relate to or would result in:
(a) The acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of the issuer
or of any of its subsidiaries;
(d) Any change in the present board of directors or management of
the issuer, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend
policy of the issuer;
(f) any other material change in the issuer's business or corporate
structure, including but not limited to, if the issuer is a registered closed-
end investment company, any plans or proposals to make any changes in its
investment policy for which a vote is required by Section 13 of the Investment
Company Act of 1940;
(g) Changes in the issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the acquisition of
control of the issuer by any person;
(h) Causing a class of securities of the issuer to be delisted from
a national securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities association;
(i) A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act; or
(j) Any action similar to any of those enumerated above.
Page 11 of 14
<PAGE>
Item 5. Interest in Securities of the Issuer.
<TABLE>
<C> <C> <C> <C> <C>
Shares Shares Total Total
with Sole with Shared Number Percent
Name of Voting and Voting and of of
Reporting Dispositive Dispositive Shares Class
Person Power Power Owned Owned*
Amrace 200,000 -- 200,000 4.16
AEC 293,732 -- 293,732 6.11
Robert de
Rothschild 14,000 -- 14,000 11.03
A. Stanley**
Gluck, as trustee -- 22,629 )
)
)
Michael A.** )
Varet, as trustee -- 22,629 ) 22,629*** 0
__________________
<FN>
* Based upon 4,806,399 shares of PEC Common Stock issued and outstanding
on June 1, 1996, as advised by PEC.
** Disclaims beneficial ownership of the reported shares.
*** Alfred Hartmann who was reported on the original Schedule 13D as a
co-trustee with Messrs. Gluck and Varet has resigned and no longer
serves as trustee.
</FN>
</TABLE>
None of the Reporting Persons have engaged in any transactions in PEC
Common Stock in the past sixty days. The filing of this Amendment No. 1 to
Schedule 13D is necessitated solely by the fact that the Reporting Persons's
percentage ownership of PEC's Common Stock has increased by virtue of the
purchase by PEC from persons unrelated to the reporting persons of certain
shares of its Common Stock, thereby reducing the number of shares of Common
Stock outstanding and increasing the percentage ownership by the Reporting
Persons.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
There are no contracts, arrangements or understandings among the
Reporting Persons listed in Item 2 either among themselves or with other
persons with respect to any securities of the issuer. The following relation-
ships exist among such persons: Messrs. Gluck and Varet are co-trustees of a
trust for Mr. de Rothschild's benefit which owns PEC Common Stock and 33-1/3
percent of the outstanding stock of each of Amrace and AEC, the balance of
which stock is owned by Mr. de Rothschild.
Page 12 of 14
<PAGE>
Mr. Gluck is employed by a subsidiary of a company in which Mr. de Rothschild
has an interest. Because of such relationships the Reporting Persons may be
deemed to constitute a group.
Item 7. Material to be Filed as Exhibits.
None.
Page 13 of 14
<PAGE>
Signature
After reasonable inquiry and to the best of our knowledge and belief,
the members of the group on behalf of which this Report is filed certify that
the information set forth in this statement is true and correct.
Dated: June 3, 1996 AMRACE INC.
By: /s/ A. Stanley Gluck
A. Stanley Gluck, President
THE AMERICAN ENERGY CO., INC.
By: /s/ A. Stanley Gluck
A. Stanley Gluck, President
/s/ A. Stanley Gluck
Robert de Rothschild
By: A. Stanley Gluck,
Attorney-in-Fact
/s/ A. Stanley Gluck
A. Stanley Gluck
/s/ Michael A. Varet
Michael A. Varet
Page 14 of 14
<PAGE>
