U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Petro Union, Inc.
(Name of Issuer)
Common Stock, No Par Value
(Title of Class of Securities)
716456306
(Cusip Number)
Richard D. Wedel, Petro Union, Inc.,
123 Main Street, Suite 300, Evansville, Indiana 47708
(918) 743-4744
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
9/9/97
(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 [ ].
* 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.
CUSIP No. 716456306
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1. Name of Reporting Persons S.S. or I.R.S. Identification
Numbers of Above persons:
Richard D. Wedel
2. Check the appropriate box if a Member of a Group
(See Instructions)
a.
b.
3. SEC Use Only:
4. Source of Funds (See Instructions)
00
5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e):
6. Citizenship or Place of Organization:
USA
Number of Shares Beneficially Owned by Each Reporting Persons
With:
7. Sole Voting Power:
55,889
8. Shared Voting Power:
1,639
9. Sole Dispositive Power:
55,889
10. Shared Dispositive Power:
1,639
11. Aggregate Amount Beneficially Owned by each Reporting
Person:
57,528
12. Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions):
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13. Percent of Class Represented by Amount in Row (11):
5.8%
14. Type of Reporting Person (See Instructions):
IN
<PAGE>
Item 1. Security and Issuer
This statement relates to the common stock, no par value
of Petro Union, Inc. ("Common Stock"), the Issuer, whose address
and principal offices are located at 575 Madison Ave., Suite
1006, New York, NY 10022.
Item 2. Identity and Background
(a) Name: Richard D. Wedel
(b) Business Address: 123 Main Street, Suite 300,
Evansville, Indiana 47708.
(c) Principal occupation: Chief Operating Officer of
Horizontal Ventures, Inc., whose principal occupation is
horizontal drilling.
(d) The filing person has not been convicted in any
criminal proceeding during the last five years.
(e) The filing person has not been a party in the last five
years to any civil proceeding, of a judicial or administrative
body of competent jurisdiction, which resulted in a judgment or
decree, or final order enjoining him, her or it from future
violations of, or prohibiting or mandating activities subject to
federal or state securities laws, or which found any violation
with respect to such laws.
(f) Citizenship: USA.
Item 3. Source and Amount of Funds or Other Consideration
See Item 5.(a).
Item 4. Purpose of Transaction
See Item 5(a).
Item 5. Interest in Securities of the Issuer
(a) The Reporting Person held 3,350,450 shares of $.125 per
value common stock prior to confirmation of the Issuer's Plan of
Reorganization ("Plan") by the Bankruptcy Court of the Southern
District of Indiana. The Reporting Person's spouse held 80,000
of such shares. The Reporting Person's son held 30,000 shares.
The Reporting Person held in trust for his son 200,000 shares.
The Reporting Person's spouse held in trust for his son 50,000
shares. The foregoing shares were converted on a basis of one
share for 220 shares into the no par value common stock shown in
this report. In addition, the Reporting Person acquired 39,330
<PAGE>
shares pursuant to the Plan for services rendered to the Issuer
during bankruptcy and 1,329 shares pursuant to the Plan in
satisfaction of debt.
(b) 57,528
(c) N/A.
(d) N/A.
(e) N/A.
Item 6. Contract, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer
Under paragraph 8 of the Employment Agreement by and between
the Issuer and Richard Wedel dated September 9, 1997, Mr. Wedel
will receive 30,000 shares of the no par value common stock of
the Issuer on September 9, 2000.
Item 7. Material to be Filed as Exhibits
A. Executive Employment Agreement by and between Petro
Union, Inc. and Richard Wedel dated September 9, 1997.
Incorporated by reference to 8-K for event that occurred August
28, 1997 as Exhibit 10.2.
SIGNATURES
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.
Date: October 16, 1997 By:
Richard D. Wedel
