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OMB Number: 3235-0145
Expires: December 31, 1997
Estimated average burden
hours per response........14.90
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)
PEASE OIL & GAS CO.
-----------------------------------------
(Name of Issuer)
COMMON STOCK
-----------------------------------------
(Title of Class of Securities)
705019701
-----------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing 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.)
*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 the
disclosures provided in a prior cover page.
The information required in 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 1745 (2-95) PAGE 1 OF 12
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CUSIP NO. 705019701 13G PAGE 2 OF 12 PAGES
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- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
(A) KAIM NON-TRADITIONAL, L.P. - 95-4486379
(B) RICHARD A. KAYNE - ###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
(A) IS A CALIFORNIA LIMITED PARTNERSHIP
(B) IS A U.S. CITIZEN
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
(A) 0
NUMBER OF (B) 0
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY (A) 7,933,733
EACH (B) 7,933,733
REPORTING --------------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER
(A) 0
(B) 0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
(A) 7,933,733
(B) 7,933,733
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
(A) 7,933,733
(B) 7,933,733
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
(A) 82.45%
(B) 82.45%
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12 TYPE OF REPORTING PERSON*
(A) IA
(B) IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 2 OF 12
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CUSIP NO. 705019701 13G PAGE 3 OF 12 PAGES
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- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ARBCO ASSOCIATES, L.P. - 95-3214739
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA LIMITED PARTNERSHIP
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 2,600,400
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,600,400
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
2,600,400
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
27.02%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 3 OF 12
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CUSIP NO. 705019701 13G PAGE 4 OF 12 PAGES
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
KAYNE, ANDERSON NON-TRADITIONAL INVESTMENTS, L.P. - 95-4198602
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA LIMITED PARTNERSHIP
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 2,400,000
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,400,000
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
2,400,000
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.94%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 4 OF 12
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CUSIP NO. 705019701 13G PAGE 5 OF 12 PAGES
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- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OFFENSE GROUP ASSOCIATES, L.P. - 95-4111006
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA LIMITED PARTNERSHIP
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 800,000
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
800,000
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
800,000
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.31%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 5 OF 12
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CUSIP NO. 705019701 13G PAGE 6 OF 12 PAGES
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OPPORTUNITY ASSOCIATES, L.P. - 95-4276878
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA LIMITED PARTNERSHIP
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 2,133,333
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,133,333
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON*
2,133,333
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
22.17%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 6 OF 12
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United States
Securities and Exchange Commission
SCHEDULE 13G
*********************
Item 1. (a) Issuer: Pease Oil & Gas Co.
(b) Address: 751 Horizon Court, Suite 203
Grand Junction, CO 81506
Item 2. (a) Filing Persons: KAIM Non-Traditional, L.P. Richard A. Kayne
(b) Addresses: 1800 Avenue of the Stars, 1800 Avenue of the
2nd Floor Stars, 2nd Floor
Los Angeles, CA 90067 Los Angeles, CA 90067
(c) Citizenship: KAIM Non-Traditional, L.P. is a California limited
partnership
Richard A. Kayne is a U.S. Citizen
(d) Title of Class
of Services: Common Stock
(e) Cusip Number: 705019701
Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b),
check whether the person filing is a:
(e) KAIM Non-Traditional, L.P., is an investment adviser registered
under section 203 of the Investment Advisers Act of 1940
Item 4. Ownership
(a) Amount Beneficially Owned:
KAIM Non-Traditional, L.P.
o Four investment limited partnerships 7,933,733*
(b) Percent of Class: 82.45%
* Shares which may be acquired upon conversion of preferred stock based on the
conversion ratio at April 30, 1998. The conversion ratio fluctuates with the
price of the common stock. The conversion rights are subject to the issuers
right to buy back the preferred stock for cash at a specified price at any time.
Page 7 of 12
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United States
Securities and Exchange Commission
SCHEDULE 13G
AMENDMENT NO. 4
Pease Oil & Gas Co. (Issuer)
**************************
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the
date hereof the reporting persons have ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following [ ].
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable
Item 9. Notice of Dissolution of Group
Not applicable
Item 10. Certification
By signing below we certify that, to the best of our knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purposes or effect.
Page 8 of 12
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United States
Securities and Exchange Commission
SCHEDULE 13G, AMENDMENT NO. 4
Pease Oil & Gas Co. (Issuer)
**************************
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
May 7, 1999
- --------------------------------------
Date
/s/ RICHARD A. KAYNE
- --------------------------------------
Richard A. Kayne
KAIM NON-TRADITIONAL, L.P.
By: Kayne Anderson Investment Management, Inc.
By: /s/ DAVID J. SHLADOVSKY
--------------------------------
David J. Shladovsky, Secretary
Page 9 of 12
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JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(f)(1)
This agreement is made pursuant to Rule 13d-1(f)(1) under the Securities
Exchange Act of 1934 (the "Act") by and between the parties listed below, each
referred to herein as a "Joint Filer." The Joint Filers agree that a statement
of beneficial ownership as required by Section 13(d) of the Act and the Rules
thereunder may be filed on each of their behalf on Schedule 13D or Schedule 13G,
as appropriate, and that said joint filing may thereafter be amended by further
joint filings. The Joint Filers state that they each satisfy the requirements
for making a joint filing under Rule 13d-1.
May 7, 1999
- --------------------------------------
Date
/s/ RICHARD A. KAYNE
- --------------------------------------
Richard A. Kayne
KAIM NON-TRADITIONAL, L.P.
By: Kayne Anderson Investment Management, Inc.
By: /s/ DAVID J. SHLADOVSKY
--------------------------------
David J. Shladovsky, Secretary
Page 10 of 12
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United States
Securities and Exchange Commission
SCHEDULE 13G, AMENDMENT NO. 4
(cover page)
Pease Oil & Gas Co. (Issuer)
**************************
Box 9. The reported shares are owned by four investment limited partnerships
managed, with discretion to purchase or sell securities, by KAIM
Non-Traditional, L.P., a registered investment adviser.
KAIM Non-Traditional, L.P. is the sole or managing general partner of
the limited partnerships. Richard A. Kayne is the controlling
shareholder of the corporate owner of Kayne Anderson Investment
Management, Inc., the sole general partner of KAIM Non-Traditional,
L.P. Mr. Kayne is also a limited partner of each of the limited
partnerships. KAIM Non-Traditional, L.P. disclaims beneficial ownership
of the shares reported, except those shares attributable to it by
virtue of its general partner interests in the limited partnerships.
Mr. Kayne disclaims beneficial ownership of the shares reported, except
those shares held by him or attributable to him by virtue of his
limited partnership interests in the limited partnerships and by virtue
of his indirect interest in the interest of KAIM Non-Traditional, L.P.
in the limited partnerships.
Page 11 of 12
<PAGE> 12
UNDERTAKING
The undersigned agree jointly to file the attached Statement of Beneficial
Ownership on Schedule 13G with the U.S. Securities Exchange Commission and Pease
Oil & Gas Co.
Dated: May 7, 1999
/s/ RICHARD A. KAYNE
- --------------------------------------
Richard A. Kayne
KAIM NON-TRADITIONAL, L.P.
By: Kayne Anderson Investment Management, Inc.
By: /s/ DAVID J. SHLADOVSKY
--------------------------------
David J. Shladovsky, Secretary
Page 12 of 12
