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OMB APPROVAL
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OMB Number 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
CARONE DEMETRIE D.
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(Last) (First) (Middle)
9819 South Richmond Avenue
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(Street)
Tulsa Oklahoma 74137
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
9/1/95
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3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
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4. Issuer Name and Ticker or Trading Symbol
United States Exploration, Inc. ("USXP")
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5 Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ x ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
<PAGE>
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Common Stock $.0001 par value 407,805 I See 1 below
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Common Stock $.0001 par value 45,000 D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 7. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock $.0001
Options 9/1/95 8/31/97 par value per share 360,000 $.75 D (2)
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Common Stock $.0001
Options 9/1/95 8/31/97 par value per share 120,000 $.55 D (3)
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</TABLE>
Explanation of Responses:
(1) Includes 407,805 shares of common stock of the issuer held by Five Star
Petroleum Inc. of which the reporting person has control as a result of his
pro-rata ownership of Five Star Petroleum, Inc.
(2) Includes options to purchase 360,000 shares of common stock of the issuer
under the terms and conditions of that certain Consulting Agreement dated
9/1/95.
(3) Includes options to purchase 120,000 shares of Common Stock of the issuer
under the terms and conditions of that certain Consulting Agreement dated
9/1/95.
/S/ DEMETRIE D. CARONE 9-3-96
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.