<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
Texoil, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
882906 20 9
- --------------------------------------------------------------------------------
(CUSIP Number)
Paul E. McCollam
c/o Resource Investors Management Company
600 Travis, Suite 6875
Houston, Texas 77002
(713) 229-8800
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 31, 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 [ ].
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).
<PAGE> 2
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 882906 20 9 PAGE 2 OF 20 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Resource Investors Management Company Limited Partnership 06-1148341
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 10,540,301
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,540,301
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,540,301 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE> 3
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 882906 20 9 PAGE 3 OF 20 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
RIMCO Associates, Inc. 06-1144208
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 10,540,301
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,540,301
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,540,301 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE> 4
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 882906 20 9 PAGE 4 OF 20 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
RIMCO Partners, L.P. 06-1208375
- --------------------------------------------------------------------------------
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 4,045,142
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
4,045,142
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,045,142 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE> 5
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 882906 20 9 PAGE 5 OF 20 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
RIMCO Partners, L.P. II 06-1264592
- --------------------------------------------------------------------------------
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,802,713
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
2,802,713
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,802,713 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE> 6
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 882906 20 9 PAGE 6 OF 20 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
RIMCO Partners, L.P. III 06-1291935
- --------------------------------------------------------------------------------
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,133,407
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
1,133,407
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,133,407 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE> 7
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 882906 20 9 PAGE 7 OF 20 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
RIMCO Partners, L.P. IV 06-1327489
- --------------------------------------------------------------------------------
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,550,039
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
2,550,039
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,550,039 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE> 8
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 882906 20 9 PAGE 8 OF 20 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Roy V. Hood
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK 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
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 10,540,301
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,540,301
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,540,301 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 9
SCHEDULE 13D
- --------------------- ------------------
CUSIP NO. 882906 20 9 PAGE 9 OF 20 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Paul E. McCollam
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK 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
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 10,540,301
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,540,301
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,540,301 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 10
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 882906 20 9 PAGE 10 OF 20 PAGES
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Stephen F. Oakes
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK 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
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 10,540,301
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,540,301
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,540,301 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 11
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 882906 20 9 PAGE 11 OF 20 PAGES
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
David R. Whitney
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK 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
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 10,540,301
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,540,301
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,540,301 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 12
SCHEDULE 13D
- --------------------- -------------------
CUSIP NO. 882906 20 9 PAGE 12 OF 20 PAGES
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
John B. Parsons
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK 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
0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 10,540,301
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
10,540,301
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,540,301 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 13
Page 13 of 20 Pages
This Amendment No. 3 on Schedule 13D/A ("Amendment No. 3") to the
Statement on Schedule 13D (as amended by Amendment Nos. 1 and 2 on Schedule
13D/A) ("Schedule 13D") is filed on behalf of each of RIMCO Partners, L.P.,
RIMCO Partners, L.P. II, RIMCO Partners, L.P. III, RIMCO Partners, L.P. IV,
Resource Investors Management Company Limited Partnership, RIMCO Associates,
Inc., Roy V. Hood, Paul E. McCollam, Stephen F. Oakes, David R. Whitney and
John B. Parsons (the "Reporting Persons").
This Amendment No. 3 is filed to reflect the closing of certain
transactions previously reported in Amendment No. 2 to the Schedule 13D,
including the exchange of 10% Senior Secured Exchangeable General Obligation
Notes for 4,826,017 shares of common stock of the Company, par value $.01 per
share (the "Common Stock"), the termination of the Senior Secured Exchangeable
General Obligation Notes and the acquisition of $10,000,000 aggregate principal
amount 7.875% Convertible Subordinated General Obligation Notes of Texoil, Inc.
(the "Company"). The Convertible Notes (as defined below) are convertible for
Common Stock as described below. See the summary in Item 3 below for the number
of shares of Common Stock deemed to be beneficially owned by the Reporting
Persons upon full conversion of the Convertible Notes.
Unless otherwise indicated, each capitalized term used but not
otherwise defined herein shall have the meaning assigned to such term in the
Schedule 13D.
Item 1. Security and Issuer: No change to this Item.
Item 2. Identity and Background: No change to this Item.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is hereby deleted in its entirety and replaced with the following:
RIMCO I, RIMCO II, RIMCO III and RIMCO IV (the "Limited Partnerships")
entered into a Note Purchase Agreement between the Company and the Limited
Partnerships on December 31, 1997 (the "Note Purchase Agreement"), to acquire
$10,000,000 of 7.875% Convertible Subordinated General Obligation Notes (the
"Convertible Notes"). The Convertible Notes have been fully funded and, pursuant
to the Note Purchase Agreement, each of the Limited Partnerships has the right
to convert the outstanding principal balance of its Convertible Notes at a
conversion rate of $1.75 per share, subject to adjustment, for shares of Common
Stock of the Company.
On December 31, 1997, the Company entered into an Agreement and Plan
of Merger with Cliffwood Oil & Gas Corp., a Texas corporation ("Cliffwood"),
whereby a newly formed subsidiary of the Company merged into Cliffwood with
Cliffwood as the surviving entity (the "Merger"). As consideration for the
Merger, the stockholders of Cliffwood received 6.74 shares of Common Stock for
each share of outstanding Cliffwood Class A and Class B common stock. In
connection with the Merger, and pursuant to the Amended and Restated Stock
Ownership and Registration Rights Agreement dated as of December 31, 1997,
between the Company and the Limited Partnerships, $4,500,000 of fully funded
Senior Secured Exchangeable General Obligation Notes held by the Limited
Partnerships were exchanged for 4,826,017 shares (4,750,000 shares representing
principal and 76,017 shares representing accrued and unpaid interest) of Common
Stock (the "Exchange"), and the $5,000,000 in aggregate of Senior Secured
General Obligation Notes of the Company held by the Limited Partnerships was
paid in full.
Pursuant to the Note Purchase Agreement and the Exchange, assuming the
conversion of the Convertible Notes at a conversion price of $1.75 per share
(subject to anti-dilution adjustment), the Limited Partnerships have received,
or have the right to receive, the number of shares of Common Stock set forth
below:
<PAGE> 14
Page 14 of 20 Pages
<TABLE>
<CAPTION>
Convertible Note Shares Received in Total Shares Received
Purchaser Purchase Amount the Exchange or to be Received
- ----------------------------- ----------------------------- ----------------------------- -----------------------
<S> <C> <C> <C>
RIMCO I $ 4,730,000 1,351,285 4,054,142
RIMCO II 2,540,000 1,351,285 2,802,713
RIMCO III 970,000 579,122 1,133,407
RIMCO IV 1,760,000 1,544,325 2,550,039
-------------- --------- ---------
Total $ 10,000,000 4,826,017 10,540,301
</TABLE>
The funds for the purchase of the Convertible Notes were provided for
out of working capital of the Limited Partnerships.
Item 4. Purpose of Transaction:
Item 4 is hereby deleted in its entirety and replaced with the following:
The shares of Common Stock the Limited Partnerships received in the
Exchange were acquired for general investment purposes. The Convertible Notes
were acquired for purposes of investment for the accounts of the respective
Limited Partnerships and have been fully funded. The outstanding principal
amounts of the Convertible Notes are convertible at any time prior to the close
of business on December 31, 1999. Based on an ongoing evaluation of the
business, prospects and financial condition of the Company, the market for and
price of the Common Stock, other investment opportunities available to the
Reporting Persons, offers to purchase shares of Common Stock, general economic
conditions and other future developments, the Reporting Persons may decide to
convert the Convertible Notes, or sell or seek the sale of all or part of the
Convertible Notes or the beneficial holdings of the Common Stock held by the
respective Limited Partnerships. In connection with the purchase of the
Convertible Notes, the Limited Partnerships were given the right to designate
one person to be a member of the Company's Board of Directors.
In accordance with the Note Purchase Agreement, the proceeds of the
Convertible Notes will be used to retire $6,050,000 of historical indebtedness
of the Company and Cliffwood. The remainder of the proceeds will be applied for
general working capital purposes. The Convertible Notes mature on December 31,
1999, unless the Limited Partnerships elect to extend the maturity date in
accordance with the Note Purchase Agreement.
Under the terms of the Note Purchase Agreement, indebtedness
outstanding under the Convertible Notes is convertible, in whole or in part,
for Common Stock of the Company at $1.75 per share, subject to anti-dilution
adjustments. The Company can require the Limited Partnerships to convert the
Convertible Notes if the average trading price of the Common Stock for any
consecutive 20-day trading period is 130% of the conversion price. On December
31, 1999, the Limited Partnerships must convert the Convertible Notes into
Common Stock of the Company if Cash Availability (as defined in the Note
Purchase Agreement) is less than the sum of the outstanding principal and
interest due on the Convertible Notes. The conversion price at such time will
depend on the 20-day average price of the Common Stock on such date. The
Convertible Notes are subordinate to certain Cliffwood indebtedness.
Other than as described in this Item 4, as of the date hereof, none
of the Reporting Persons has any plans or proposals that relate to or would
result in any of the actions listed in subparagraphs (a) - (j) of the
instructions to Item 4 of Schedule 13D with respect to the Company as the
issuer.
<PAGE> 15
Page 15 of 20 Pages
Item 5. Interest in Securities of the Issuer:
Item 5 is hereby deleted in its entirety and replaced with the following:
(a) - (b)
<TABLE>
<CAPTION>
Number of
Shares Shared Shared Sole Sole
Beneficially Voting Investment Voting Investment
Name Owned * Power* Power* Power * Power* Percent*
- ---------------------- ------------------ ----------------- ----------------- ------- --------------- --------
<S> <C> <C> <C> <C> <C> <C>
Associates 10,540,301 10,540,301 10,540,301 0 0 25.0
RIMCO 10,540,301 10,540,301 10,540,301 0 0 25.0
RIMCO I 4,054,142 4,054,142 4,054,142 0 0 10.3
RIMCO II 2,802,713 2,802,713 2,802,713 0 0 7.4
RIMCO III 1,133,407 1,133,407 1,133,408 0 0 3.1
RIMCO IV 2,550,039 2,550,039 2,550,039 0 0 6.8
Roy V. Hood 10,540,301 10,540,301 10,540,301 0 0 25.0
Paul E. McCollam 10,540,301 10,540,301 10,540,301 0 0 25.0
David R. Whitney 10,540,301 10,540,301 10,540,301 0 0 25.0
John B. Parsons 10,540,301 10,540,301 10,540,301 0 0 25.0
Stephen F. Oakes 10,540,301 10,540,301 10,540,301 0 0 25.0
</TABLE>
- ---------------
* Assumes the conversion of the Convertible Notes for shares of Common Stock
at a conversion price of $1.75 per share.
(c) No transactions by any of the reporting persons other than
those transactions identified in Item 3 have taken place since the most recent
filing on Schedule 13D.
(d)-(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer
RIMCO is the managing general partner of RIMCO I, RIMCO II, RIMCO III
and RIMCO IV. RIMCO has a 1.00% interest (on a profit basis) in the portfolio
securities held by RIMCO I, RIMCO II, RIMCO III and RIMCO IV, each of which is
a Delaware limited partnership engaged in the business of making investments in
the energy sector of the natural resource industry.
Associates is the managing general partner of RIMCO and the managing
general partner of RIMCO I, RIMCO II, RIMCO III and RIMCO IV. Associates has a
55% interest (on a profit basis) in RIMCO, which, as indicated above, has a
1.00% interest (on a profit basis) in the portfolio securities held by RIMCO I,
RIMCO II, RIMCO III and RIMCO IV. RIMCO I is the record owner of 1,351,285
shares of Common Stock acquired in the Exchange and the record owner of
Convertible Notes convertible for 2,702,857 shares of Common Stock, which is a
total of 10.4% of the outstanding Common Stock of the Company. RIMCO II is the
record owner of 1,351,285 shares of Common Stock acquired in the Exchange and
the record owner of Convertible Notes convertible for 1,451,428 shares of
Common Stock, which is a total of 7.4% of the outstanding Common Stock of the
Company. RIMCO III is the record owner of 579,122 shares of Common Stock
acquired in the Exchange and the record owner of Convertible Notes convertible
into 554,285 shares of Common Stock, which is a total of 3.1% of the
outstanding Common Stock of the Company. RIMCO IV is the record owner of
1,544,325 shares of Common Stock acquired in the Exchange and the record owner
<PAGE> 16
Page 16 of 20 Pages
of Convertible Notes convertible into 1,005,714 shares of Common Stock, which
is a total of 6.8% of the outstanding Common Stock of the Company.
Roy V. Hood, Paul E. McCollam, David R. Whitney and Stephen F. Oakes
are managing directors of RIMCO. Mr. Hood is a shareholder and President and a
director of Associates. Mr. McCollam is a shareholder and Vice President,
Secretary and Treasurer and a director of Associates. Mr. Whitney is
shareholder and a Vice President and a director of Associates. Mr. Parsons is a
shareholder and a director of Associates.
Under a Stock Ownership and Registration Rights Agreement dated as of
September 6, 1996, as amended and restated as of December 31, 1997, the Company
has granted the Limited Partnerships certain demand and "piggy back"
registration rights to register under the Securities Act of 1933 any offer of
Common Stock held by the Limited Partnerships, as well as securities (if any)
issued with respect thereto, including the shares of Common Stock issuable upon
conversion of the Convertible Notes. The Stock Ownership and Registration
Rights Agreement provides for indemnification of the Limited Partnerships by
the Company and indemnification of the Company by the Limited Partnerships
under certain circumstances related to such registration rights.
The conversion price and number of shares of Common Stock issuable
upon conversion of the Convertible Notes are subject to adjustment upon certain
events such as a reverse stock split or reclassification, merger or liquidation
of the Company or issuances of Common Stock at a price less than the conversion
price.
Item 7. Material to be Filed as Exhibits
A. Agreement for Joint Filing on Behalf of Each Reporting Person.
B. Form of 7.857% Convertible Subordinated General Obligation Note
(filed as Exhibit 5.2 to the Current Report on Form 8-K of
Texoil, Inc. dated December 31, 1997 and incorporated herein by
reference).
C. Note Purchase Agreement (filed as Exhibit 5.1 to the Current
Report on Form 8-K of Texoil, Inc. dated December 31, 1997 and
incorporated herein by reference).
D. Amended and Restated Stock Ownership and Registration Rights
Agreement (filed as Exhibit 5.5 to the Current Report on Form
8-K of Texoil, Inc. dated December 31, 1997 and incorporated
herein by reference).
E. Powers of Attorney (filed as Exhibit E to the Schedule 13D
filed September 19, 1996, and incorporated herein by
reference).
<PAGE> 17
Page 17 of 20 Pages
SIGNATURES
After reasonable inquiry and to the best of the knowledge and belief
of each of the following reporting persons, each reporting person certifies
that the information set forth in this statement is true, complete and correct.
Date: January 16, 1998
Signature: Resource Investors Management Company Limited
Partnership
By: RIMCO Associates, Inc.,
Its General Partner
By: /s/ Roy V. Hood
---------------------------------------
Name: Roy V. Hood
Title: President
Date: January 16, 1998
Signature: RIMCO Associates, Inc.
By: /s/ Roy V. Hood
---------------------------------------
Name: Roy V. Hood
Title: President
Date: January 16, 1998
Signature: RIMCO Partners, L.P.
By: Resource Investors Management Company
Limited Partnership,
Its General Partner
By: RIMCO Associates, Inc.,
Its General Partner
By: /s/ Roy V. Hood
---------------------------------------
Name: Roy V. Hood
Title: President
Date: January 16, 1998
Signature: RIMCO Partners, L.P. II
By: Resource Investors Management Company
Limited Partnership,
Its General Partner
By: RIMCO Associates, Inc.,
Its General Partner
By: /s/ Roy V. Hood
---------------------------------------
Name: Roy V. Hood
Title: President
<PAGE> 18
Page 18 of 20 Pages
Date: January 16, 1998
Signature: RIMCO Partners, L.P. III
By: Resource Investors Management Company
Limited Partnership,
Its General Partner
By: RIMCO Associates, Inc.,
Its General Partner
By: /s/ Roy V. Hood
---------------------------------------
Name: Roy V. Hood
Title: President
Date: January 16, 1998
Signature: RIMCO Partners, L.P. IV
By: Resource Investors Management Company
Limited Partnership,
Its General Partner
By: RIMCO Associates, Inc.,
Its General Partner
By: /s/ Roy V. Hood
---------------------------------------
Name: Roy V. Hood
Title: President
Date: January 16, 1998
Signature: /s/ Roy V. Hood
----------------------------------------------
Roy V. Hood
Date: January 16, 1998
Signature: Paul E. McCollam *
----------------------------------------------
Paul E. McCollam
Date: January 16, 1998
Signature: David R. Whitney *
----------------------------------------------
David R. Whitney
Date: January 16, 1998
Signature: Stephen F. Oakes *
----------------------------------------------
Stephen F. Oakes
Date: January 16, 1998
Signature: John B. Parsons *
----------------------------------------------
John B. Parsons
By: * /s/ Roy V. Hood
--------------------------
Attorney-in-Fact
<PAGE> 19
EXHIBIT INDEX
<TABLE>
<S> <C> <C>
Item 7. Material to be Filed as Exhibits
A. Agreement for Joint Filing on Behalf of Each Reporting Person.
B. Form of 7.857% Convertible Subordinated General Obligation Note
(filed as Exhibit 5.2 to the Current Report on Form 8-K of
Texoil, Inc. dated December 31, 1997 and incorporated herein by
reference).
C. Note Purchase Agreement (filed as Exhibit 5.1 to the Current
Report on Form 8-K of Texoil, Inc. dated December 31, 1997 and
incorporated herein by reference).
D. Amended and Restated Stock Ownership and Registration Rights
Agreement (filed as Exhibit 5.5 to the Current Report on Form
8-K of Texoil, Inc. dated December 31, 1997 and incorporated
herein by reference).
E. Powers of Attorney (filed as Exhibit E to the Schedule 13D
filed September 19, 1996, and incorporated herein by
reference).
</TABLE>
<PAGE> 1
Page 19 of 20 Pages
Exhibit A
AGREEMENT
Pursuant to Rule 13d-1(f) under the Securities Exchange Act of 1934,
each of the undersigned hereby agrees to the filing of this Statement on
Schedule 13D/A on its behalf.
This agreement may be signed in one or more counterparts.
Resource Investors Management Company Limited
Partnership
By: RIMCO Associates, Inc.,
Its General Partner
Date: January 16, 1998 By: /s/ Roy V. Hood
----------------------------------------
Name: Roy V. Hood
Title: President
RIMCO Associates, Inc.
Date: January 16, 1998 By: /s/ Roy V. Hood
----------------------------------------
Name: Roy V. Hood
Title: President
RIMCO Partners, L.P.
By: Resource Investors Management Company
Limited Partnership,
Its General Partner
By: RIMCO Associates, Inc.,
Its General Partner
Date: January 16, 1998 By: /s/ Roy V. Hood
----------------------------------------
Name: Roy V. Hood
Title: President
RIMCO Partners, L.P. II
By: Resource Investors Management Company
Limited Partnership,
Its General Partner
By: RIMCO Associates, Inc.,
Its General Partner
Date: January 16, 1998 By: /s/ Roy V. Hood
----------------------------------------
Name: Roy V. Hood
Title: President
<PAGE> 2
Page 20 of 20 Pages
RIMCO Partners, L.P. III
By: Resource Investors Management Company
Limited Partnership,
Its General Partner
By: RIMCO Associates, Inc.,
Its General Partner
Date: January 16, 1998 By: /s/ Roy V. Hood
----------------------------------------
Name: Roy V. Hood
Title: President
RIMCO Partners, L.P. IV
By: Resource Investors Management Company
Limited Partnership,
Its General Partner
By: RIMCO Associates, Inc.,
Its General Partner
Date: January 16, 1998 By: /s/ Roy V. Hood
----------------------------------------
Name: Roy V. Hood
Title: President
Date: January 16, 1998 /s/ Roy V. Hood
----------------------------------------------
Roy V. Hood
Date: January 16, 1998 Paul E. McCollam *
----------------------------------------------
Paul E. McCollam
Date: January 16, 1998 David R. Whitney *
----------------------------------------------
David R. Whitney
Date: January 16, 1998 Stephen F. Oakes *
----------------------------------------------
Stephen F. Oakes
Date: January 16, 1998 John B. Parsons *
----------------------------------------------
John B. Parsons
By: * /s/ Roy V. Hood
-------------------------
Attorney-in-Fact
