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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. 2)*
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.
1251 Avenue of the Americas
New York, New York 10020-1104
(212) 835-6250
---------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
November 24, 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).
SEC 1746 (12-91)
Page 1 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104 Page 2 of 14 Pages
- ---------------------------------------------------------------------------
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 7,000
--------------------------------------------------------------
--------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ----
--------------------------------------------------------------
--------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 7,000
--------------------------------------------------------------
--------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
----
--------------------------------------------------------------
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
523,361
- ---------------------------------------------------------------------------
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |X|
- ---------------------------------------------------------------------------
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.3
- ---------------------------------------------------------------------------
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 2 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104 Page 3 of 14 Pages
- ---------------------------------------------------------------------------
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 493,732
--------------------------------------------------------------
--------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ----
--------------------------------------------------------------
--------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 493,732
--------------------------------------------------------------
--------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
----
--------------------------------------------------------------
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
493,732
- ---------------------------------------------------------------------------
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
- ---------------------------------------------------------------------------
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7
- ---------------------------------------------------------------------------
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 3 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104 Page 4 of 14 Pages
- ---------------------------------------------------------------------------
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
New York (USA)
- ---------------------------------------------------------------------------
--------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF --0--
--------------------------------------------------------------
--------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ----
--------------------------------------------------------------
--------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON --0--
--------------------------------------------------------------
--------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
----
--------------------------------------------------------------
- ---------------------------------------------------------------------------
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
CO
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 4 of 14
<PAGE>
SCHEDULE 13D
CUSIP No. 74158E104 Page 5 of 14 Pages
- ---------------------------------------------------------------------------
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
22,629
- ---------------------------------------------------------------------------
- ---------------------------------------------------------------------------
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 Page 6 of 14 Pages
- ---------------------------------------------------------------------------
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
22,629
- ---------------------------------------------------------------------------
- ---------------------------------------------------------------------------
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) Robert de
Rothschild and (iii) 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 corporation identified in clause (i),
and the trust referred to in clause (iii), disclaims beneficial
ownership, and power to vote or dispose of, securities the ownership of
which is reported on by any of the other reporting persons or by Mr. de
Rothschild.
Name and
Business Criminal Legal
Address Citizenship Occupation Conviction** Proceedings***
- -------- ----------- ---------- ---------- -----------
Amrace Inc. ("Amrace") Delaware Holding No No
1013 Centre Road Company
Wilmington, Delaware
19805-1297
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
29th Floor
1251 Avenue of the Americas
New York, New York 10020
____________________________
* 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.
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.
1251 Avenue of the Americas
New York, New York 10020
Page 8 of 14
<PAGE>
Principal occupation:
Lawyer
Piper & Marbury L.L.P.
1251 Avenue of the Americas
New York, New York 10020
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>
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
293,732 shares of PEC Common Stock now owned by Amrace were acquired by
Amrace as the result of a statutory merger between Amrace and The
American Energy Co., Inc., a New York corporation ("AEC"), effective
November 24, 1997, pursuant to which AEC was merged with and into
Amrace with Amrace as the surviving corporation. The 293,732 shares of
PEC Common Stock so acquired by Amrace from AEC were originally
acquired by AEC as a distribution from a joint venture in which it was
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.
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 493,732 -- 493,732 10.68
Robert de
Rothschild 7,000 -- 523,361** 11.32
A. Stanley***
Gluck, as Trustee -- 22,629 )
)
)
Michael A.*** )
Varet, as Trustee -- 22,629 ) 22,629**** 0.49
None of the Reporting Persons have engaged in any transactions in
PEC Common Stock in the past sixty days, except that on September 23,
1997, Mr. de Rothschild sold 7,000 shares of PEC Common Stock to PEC in
a private transaction for $9.50 per share, or an aggregate
consideration of $66,500. The filing of this Amendment No. 2 to
Schedule 13D is necessitated solely by the fact that on November 24,
1997, AEC was merged with and into Amrace, with Amrace as the surviving
corporation. As a result of the merger, AEC ceased to exist as a
separate corporation and the 293,732 shares of PEC Common Stock owned
by AEC immediately prior to the merger became the property of Amrace.
__________________________
* Based upon 4,621,309 shares of PEC Common Stock issued and
outstanding on November 12, 1997, as advised by PEC.
** Includes 493,732 shares of PEC Common Stock owned of record by
Amrace and 22,629 shares of PEC Common Stock owned of record by a
trust for Mr. de Rothschild's benefit.
*** 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 a co-trustee.
Page 12 of 14
<PAGE>
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 relationships exist among such persons: Messrs. Gluck and
Varet are co-trustees of a trust for Mr. de Rothschild's benefit which
owns (a) PEC Common Stock and (b) 33-1/3 percent of the outstanding
stock of Amrace, the balance of which stock is owned by Mr. de
Rothschild. Prior to the merger of Amrace and AEC, the shares of
outstanding stock of AEC were owned 33-1/3 percent by such trust and
the balance was owned by Mr. de Rothschild. Mr. Gluck is employed by a
subsidiary of a company in which Mr. de Rothschild and members of his
family have an indirect 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,
complete and correct.
Dated: November 24, 1997 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
