UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ________)*
AMERAC ENERGY CORPORATION
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- -------------------------------------------------------------------------------
(Title of Class of Securities)
023517105
- -------------------------------------------------------------------------------
(CUSIP Number)
Jeffery B. Robinson, President, Amerac Energy Corporation
700 Louisiana, Suite 3330, Houston, Texas 77002-2730
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
January 15, 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 X. (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 persons'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 requirement 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)
SCHEDULE 13D
CUSIP No. 023517105 Page 2 of 6 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Powell Resources, Inc. EI# 73-1258775
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) __
(b) __
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
Oklahoma Corporation
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY 8 SHARES VOTING POWER
OWNED BY
EACH 2,017,152
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
10 SHARED DISPOSITIVE POWER
2,017,152
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,017,152
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* __
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.44%
14 TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
CUSIP No. 023517105 Page 3 of 6 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Virgil Lee Powell SS# ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) __
(b) __
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
United States of America
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY 8 SHARES VOTING POWER
OWNED BY
EACH 2,017,152
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
10 SHARED DISPOSITIVE POWER
2,017,152
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,017,152
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* __
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.44%
14 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
Page 4 of 6
Item 1: Security and Issuer
The securities to which this Schedule 13D relates are shares of the
Common Stock (the "Common Stock") of Amerac Energy Corporation ("Amerac"). The
address of Amerac's principal executive office is 700 Louisiana, Suite 3330,
Houston, Texas 77002-2730.
Item 2: Identity or Background
(a-c) The principal business of Powell Resources, Inc. ("Powell
Resources), an Oklahoma corporation, is oil and gas investments.
The principal address of Powell Resources is 3030 N.W. Expressway,
Suite 1602, Oklahoma City, Oklahoma 73112.
The following table sets forth certain information as to the
executive officers and directors of Powell Resources, including their business
addresses and principal business occupations. There are no other controlling
persons of Powell Resources.
Position with Powell Resources and
Name Principal Business Occupation
---- ----------------------------------
Virgil Lee Powell President and Director; President of
3030 N.W. Expressway, Suite 1602 Powell Resources and Manager of
Oklahoma City, OK 73112 various other oil and gas companies.
Michael Lee Powell Vice President and Director; Chief
3030 N.W. Expressway, Suite 1602 Geologist for Powell Resources and
Oklahoma City, OK 73112 various other oil and gas companies.
Miriam Powell Secretary and Director; Secretary of
3030 N.W. Expressway, Suite 1602 Powell Resources
Oklahoma City, OK 73112
(d) Neither Powell Resources nor any of the persons named in the above
table have been convicted during the last five year in any
criminal proceeding (excluding traffic violations and other
similar misdemeanors)
(e) Neither Powell Resources nor any of the persons named in the above
table have been a party during the last five years 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 future violations
of, or prohibiting or mandating activities subject to, federal or
state securities laws, or finding any violations with respect to
such laws.
(f) All of the persons in the above table are United States citizens.
Page 5 of 6
Item 3: Source and Amount of Funds or Other Consideration
The common stock was acquired by Powell Resources in exchange for oil and
gas assets that were transferred to the Issuer as a part of an acquisition
transaction.
Item 4: Purpose of Translation
Powell Resources acquired the Common Stock for long term investment
purposes. Powell Resources has no plans at this time for the acquisition of
any additional common stock or to undertake any of the other actions described
in Item 4.
Item 5: Interest in Securities of the Issuer
(a) Powell Resources acquired 2,017,152 shares of the Common Stock
(approximately 8.44% of the total outstanding shares of Common
Stock). Virgil Lee Powell is also deemed to be a beneficial
owner of all the shares owned by Powell Resources due to his 90%
ownership of Powell Resources.
(b) Powell Resources and Virgil Lee Powell are deemed to have the
shared powers to vote and dispose of all 2,017,152 shares of the
Common Stock.
(c) No transactions other than the one being reported on this Schedule
13D.
(d) No other persons have the rights to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of,
the shares of the Common Stock described in this report.
(e) Not applicable.
Item 6: Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
There are not contracts, arrangements, understandings or relationships
among the persons named in Item 2 and between such persons and any person with
respect to any securities of Amerac.
Item 7: Material to be Filed as Exhibits
There is no material that is required to be filed as an exhibit to
this Schedule 13D.
Page 6 of 6
Signature:
After reasonable inquiry and to the best of my knowledge or belief, I
certify that the information set forth in this Statement is true, complete and
correct.
Powell Resources, Inc.
January 24, 1996 By: /s/V. Lee Powell
Date ----------------
V. Lee Powell, President
/s/V. Lee Powell
----------------
V. Lee Powell
