<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
FORELAND CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
345458301
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(CUSIP Number)
Russell J. Bruemmer
Wilmer, Cutler & Pickering
2445 M Street, N.W.
Washington, D.C. 20037
(202) 663-6000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
October 1, 1999
- --------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 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).
(Continued on following pages)
<PAGE> 2
SCHEDULE 13D
<TABLE>
<CAPTION>
- ------------------------------------- ----------------------------------------
CUSIP NO. 345458301 PAGE 2 OF 6 PAGES
- ------------------------------------- ----------------------------------------
<S> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Energy Income Fund, L.P.
- ------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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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
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7 SOLE VOTING POWER
0
--------------------------------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 2,083,333
BENEFICIALLY
OWNED BY --------------------------------------------------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH
--------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,083,333
- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,083,333
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.7%
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14 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
*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> 3
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------- ----------------------------------------
CUSIP NO. 345458301 PAGE 3 OF 6 PAGES
- ---------------------------------- ----------------------------------------
<S> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EIF General Partner, L.L.C.
- ------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
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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
- ------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
--------------------------------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 2,083,333
BENEFICIALLY
OWNED BY --------------------------------------------------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH
--------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,083,333
- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,083,333
- ------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.7%
- ------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
*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
SCHEDULE 13D
<TABLE>
<CAPTION>
- ------------------------------------- ----------------------------------------
CUSIP NO. 345458301 PAGE 4 OF 6 PAGES
- ------------------------------------- ----------------------------------------
<S> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert D. Gershen
- ------------------------------------------------------------------------------------------------------------------------
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
- ------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
--------------------------------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 2,083,333
BENEFICIALLY
OWNED BY --------------------------------------------------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH
--------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,083,333
- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,083,333
- ------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.7%
- ------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
*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> 5
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------------- ----------------------------------------
CUSIP NO. 345458301 PAGE 5 OF 6 PAGES
- ---------------------------------------- ----------------------------------------
<S> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
George W. Siguler
- ------------------------------------------------------------------------------------------------------------------------
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
- ------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
--------------------------------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES 2,083,333
BENEFICIALLY
OWNED BY --------------------------------------------------------------------------------------------------------
EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH
--------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,083,333
- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,083,333
- ------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.7%
- ------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
*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> 6
SCHEDULE 13D (CONTINUED) PAGE 6 OF 6 PAGES
This Amendment No. 3 to Schedule 13D is filed by and on behalf of
Energy Income Fund, L.P. ("EIF"), EIF General Partner, L.L.C. ("EIF General
Partner"), Robert D. Gershen ("Gershen"), and George W. Siguler ("Siguler")
(collectively, the "Reporting Persons") and relates to the common stock, $.01
par value ("Common Stock"), of Foreland Corporation (the "Issuer"). This
Amendment No. 3 amends the initial statement on Schedule 13D dated January 15,
1998 (the "Initial Statement") as amended on November 30, 1998 and March 8,
1999. Capitalized terms used herein but not defined herein shall have the
meanings ascribed to them in the Initial Statement.
Item 4 is hereby amended and supplemented as follows:
Item 4. Purpose of Transaction.
The reference to 18.1% in the first paragraph of Item 4 is hereby
amended to read 17.7%. This change is the result of an increase in the number
of outstanding shares of Common Stock since the date of Amendment No. 2.
The following paragraph is added after the last paragraph of Item 4:
EIF has entered into negotiations with the Issuer to restructure debt
financing EIF has provided to the Issuer. The Issuer is currently in default
under the terms of this debt financing and is seeking a restructuring to avoid
foreclosure by EIF. In connection with these negotiations, EIF is considering
and has proposed transactions that could result in EIF's obtaining control of
the Issuer. Any such transactions may include, in satisfaction of certain
portions of debt owed to EIF, the issuance to EIF of additional equity of the
Issuer in the form of convertible preferred stock, a change in the Board of
Directors of the Issuer including replacement of current directors of the Board
with additional directors designated by EIF, a change in the terms (including
the exercise price) of existing securities held by EIF, a change in the number
of authorized shares of Common Stock, a reverse stock split of the Common Stock,
or other transactions. There can be no assurance that any such transactions will
occur, or that such transactions may not involve other elements not identified
above. If such transactions do not occur, EIF is considering exercising its
foreclosure rights under the debt financing. Upon foreclosure, EIF would gain
control of a material amount of the assets of the Issuer and its subsidiaries.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: October 21, 1999
ENERGY INCOME FUND, L.P.
By: EIF General Partner, L.L.C.
By: /s/ ROBERT D. GERSHEN
------------------------------
Robert D. Gershen
Managing Director
EIF GENERAL PARTNER, L.L.C.
By: /s/ ROBERT D. GERSHEN
------------------------------
Robert D. Gershen
Managing Director
/s/ ROBERT D. GERSHEN
------------------------------
Robert D. Gershen
/s/ GEORGE W. SIGULER
------------------------------
George W. Siguler
