United States
Securities and Exchange Commission
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)
Name of Issuer: Marcum Natural Gas Services, Inc.
Title of Class of Securities: Common Stock
CUSIP Number: 566323101
CUSIP No. 566323101 Page 2 of 4 Pages
1. Name of Reporting Person Alphi Investment Management Company
IRS No. 36-3588013
2. Check the appropriate box if a member of a group
3. SEC Use Only
4. Citizenship or Place of Organization Illinois
5. Sole Voting Power 942,700
6. Shared Voting Power 0
7. Sole Dispositive Power 942,700
8. Shared Dispositive Power 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person 942,700
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row 9 7.7%
12. Type of Reporting Person CO
CUSIP No. 566323101 Page 3 of 4 Pages
Item 1(a). Name of Issuer
This Amendment No. 3 to the Schedule 13G relates to the Shares of Common
Stock of Marcum Natural Gas Services, Inc. (the "Shares" and the "Company"
respectively).
Item 1(b). Address of Issuer's Principal Executive Offices
The executive offices of the Company are located at 1675 Broadway,
Suite 2200, Denver, Colorado 80202.
Item 2(a). Name of Person Filing
This Amendment No. 2 to the Schedule 13G is being filed on behalf of Alphi
Investment Management Company ("AIMCO"), an Illinois corporation.
Item 2(b). Address of Principal Business Office
The principal business offices of AIMCO are located at 155 Pfingsten Road,
Suite 360, Deerfield, IL 60015.
Item 2(c). Citizenship
U.S.A.
Item 2(d). Title of Class of Securities
Common Stock
Item 2(e). CUSIP Number
566323101
Item 3. Type of Person
Corporation, passive investor
Item 4. Ownership
(a) Amount Beneficially Owned: 942,700
(b) Percent of Class: 7.7%
(c) Number of shares as to which person has:
(1) sole power to vote or to direct the vote: 942,700
(2) shared power to vote or to direct the vote: 0
(3) sole power to dispose or to direct the disposition of: 942,700
(4) shared power to dispose or to direct the disposition of: 0
CUSIP No. 566323101 Page 4 of 4 Pages
Item 5. Ownership of Five Percent or less of a Class
Not applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Alphi Fund L.P. ("Alphi"), a Delaware limited partnership is the
beneficial owner of 942,700 Shares, which is 7.7% of the
12,311,288 Shares of the Company deemed to be outstanding as of
December 31, 1997. AIMCO, in its capacity as general partner of
Alphi, has the sole power to vote and sole power to dispose of
942,700 Shares owned by Alphi. Individual limited partners of
Alphi (but not the principals of AIMCO) may own Shares which are
not included in the aggregate number of Shares reported in
Item 4 above.
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, I certify that, to the best of my 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 purpose or effect.
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.
February 17, 1998
Date
Philip R. Smith
Signature
Philip R. Smith/Secretary
Name/Title
