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| FORM 3 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Sundance Assets, L.P.
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(Last) (First) (Middle)
1400 Smith Street
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(Street)
Houston TX 77002
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year) 12/23/98
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3. IRS Identification Number of Reporting Person if an Entity
(Voluntary)
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4. Issuer Name and Ticker or Trading Symbol Crown Energy Corporation (CROE)
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] Officer [X] 10% Owner [ ] Other
(give title below) (specify below)
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6. If Amendment, Date of Original (Month/Day/Year) N/A
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7. Individual or Joint Group Filing (Check Applicable Line)
____ Form Filed by One Reporting Person
X
____ Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securities Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
None
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</TABLE>
* If this Form is filed by more than one Reporting Person, See Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
Page 1 of 3
SEC 1473 (8-92)
(Print or Type Responses)
FORM 3 (continued)
TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of In-
Security (Instr. 4) cisable and Underlying Derivative Security or Form of direct Bene-
Expiration (Instr. 4) Exercise Derivative ficial
Date Price Security: Ownership
(Month/Day/ of Direct (D) (Instr. 5)
Year) Derivative or In-
----------------------------------------------------- Security direct (I)
Date Expira- Amount or (Instr. 5)
Exer- tion Title Number of
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
Series A Preferred Stock Immed. N/A Common Stock 4,285,000 $1.17 D(1) (1)
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Common Stock Purchase Warrant 11/04/02 11/03/07 Common Stock 925,771 $0.002 D(2) (2)
(2)
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</TABLE>
*Explanation of Responses:
(1) These securities are owned directly by Sundance Assets, L.P. ("Sundance").
These securities were previously owned directly by Enron Capital & Trade
Resources Corp. ("ECT") as indicated in the Form 3-Initial Statement of
Beneficial Ownership filed by ECT and Enron Corp. ("Enron") as a "group" on
November 12, 1997. These securities were contributed to Sundance on December
23, 1998 as part of the internal reorganization of the merchant asset
portfolio of Enron. This transaction was exempt from Section 16 pursuant to
Rule 16a-13. Sundance is a member of a "group" with ECT and Enron for
purposes of Section 13(d) of the Exchange Act. This Form is also filed by
Enron and ECT, which may be considered to have indirect ownership of these
securities. Enron and ECT disclaim beneficial ownership of these securities.
(2) These securities are owned directly by ECT and represent the maximum number
of shares that could be acquired. The Common Stock Purchase Warrant is
exercisable for a number of shares of common stock equal to up to 8% of the
outstanding shares of common stock at the time of issuance, subject to
limitations based on the financial performance of the Issuer. Due to its
ownership in ECT, Enron may be considered to have indirect ownership of
these securities. Enron disclaims beneficial ownership of these securities.
Sundance Assets, L.P.
/s/ Peggy B. Menchaca January 7, 1999
---------------------- ---------------
Peggy B. Menchaca Date
**Signature of Reporting Person
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Page 2 of 3
<PAGE>
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
JOINT FILER INFORMATION
Name: Enron Capital & Trade Resources Corp.
Address: 1400 Smith Street
Houston, Texas 77002
Designated Filer: Sundance Assets, L.P.
Issuer & Ticker Symbol: Crown Energy Corporation (CROE)
Date of Event Requiring
Statement: 12/23/98
Signature of Reporting
Person: /s/ Peggy B. Menchaca
-------------------------------
Peggy B. Menchaca
Name: Enron Corp.
Address: 1400 Smith Street
Houston, Texas 77002
Designated Filer: Sundance Assets, L.P.
Issuer & Ticker Symbol: Crown Energy Corporation (CROE)
Date of Event Requiring
Statement: 12/23/98
Signature of Reporting
Person: /s/ Peggy B. Menchaca
-------------------------------
Peggy B. Menchaca
Page 3 of 3
SEC 1473 (8-92)
