<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2) *
CE FRANKLIN LTD.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, No Par Value Per Share
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(Title of Class of Securities)
125151100
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(CUSIP Number)
Gilbert H. Davis, Esq.
Sims Moss Kline & Davis LLP
400 Northpark Town Center, Suite 310
1000 Abernathy Road, N.E.
Atlanta, Georgia 30328
(770) 481-7210
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
February 19, 1999
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(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(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box [ ].
1
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SCHEDULE 13D
CUSIP NO. 125151100
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NAME OF REPORTING PERSON:
1
Thomas E. Claugus
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
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SOURCE OF FUNDS: PF, OO
4
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION: United States
6
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SOLE VOTING POWER: 170,300
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER: 1,330,700
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER: 170,300
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER: 1,330,700
10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,501,000
11
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.1%
13
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TYPE OF REPORTING PERSON: IN
14
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2
<PAGE>
SCHEDULE 13D
CUSIP NO. 125151100
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Bay Resource Partners, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS: WC, OO
4
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
6
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SOLE VOTING POWER: NONE
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER: 685,400
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER: NONE
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER: 685,400
10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 685,400
11
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.1%
13
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON: PN
14
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3
<PAGE>
SCHEDULE 13D
CUSIP NO. 125151100
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON:
1
Bay Resource Partners Offshore Fund, Ltd.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS: WC, OO
4
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION: Cayman Islands
6
- ------------------------------------------------------------------------------
SOLE VOTING POWER: NONE
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER: 345,300
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER: NONE
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER: 345,300
10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 345,300
11
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 2.1%
13
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON: CO
14
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4
<PAGE>
SCHEDULE 13D
CUSIP NO. 125151100
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON:
1
GMT, Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS: WC, OO
4
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
6
- ------------------------------------------------------------------------------
SOLE VOTING POWER: NONE
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER: 300,000
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER: NONE
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER: 300,000
10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 300,000
11
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.8%
13
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TYPE OF REPORTING PERSON: CO
14
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5
<PAGE>
Item 1. Security and Issuer.
Pursuant to Rule 13d-2(a) of Regulation 13D-G of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the "Act"),
the undersigned hereby amend their Schedule 13D Statement dated January 10, 1999
as previously amended pursuant to its Amendment No. 1 dated February 23, 1999
relating to the common stock, no par value, of CE FRANKLIN LTD. (the "Company")
(such initial Schedule 13D as previously amended shall hereinafter be referred
to as the "Statement"). Unless otherwise indicated, all defined terms used in
this Amendment No. 2 to the Statement (this "Amendment") shall have the same
meanings as those set forth in the Statement. There has been no material change
in the information included in the Statement except as regards the information
contained in Item 5 of the Statement, which is supplemented as set forth below.
Item 5. Interest in Securities of the Issuer.
As the result of additional purchases of Company stock by the parties
filing this Amendment, Mr. Claugus may now be deemed to be the beneficial owner
of a total of 1,501,000 shares of the Company stock, representing approximately
9.1% of the issued and outstanding shares of the Company, under the rules and
regulations of the Securities and Exchange Commission. Of these shares, 685,400
shares (approximately 4.1% of outstanding shares) are owned directly by Bay
Onshore, 345,300 shares (approximately 2.1% of outstanding shares) are owned
directly by Bay Offshore; 300,000 shares (approximately 1.8% of outstanding
shares) are owned directly by GMT, Inc., and 170,300 shares (approximately 1.0%
of outstanding shares) are owned by Mr. Claugus in his regular and individual
retirement accounts. Mr. Claugus currently has sole power to direct the voting
and disposition of all shares held by the Claugus Group.
The percentages of outstanding shares of the Company stock set out in the
preceding paragraph are computed based on a total of 16,550,509 outstanding
shares of Company stock as previously indicated by a Company representative.
During the past 60 days, the parties filing this Statement have engaged in
the following transactions in shares of the Company stock in addition to those
disclosed in the original Statement:
<TABLE>
<CAPTION>
No. Of Shares Price
Date Party Purchased/(Sold) Per Share
- ----------- ----------------- ---------------- ---------
<S> <C> <C> <C>
02/16/99 Bay Onshore 50,000 $1.6555
02/03/99 Bay Offshore 50,000 $ 1.77
02/16/99 Bay Offshore 50,000 $1.6555
02/16/99 GMT, Inc. 20,000 $1.6555
02/16/99 Thomas E. Claugus 10,000 $1.6555
02/19/99 Thomas E. Claugus 25,000 $ 1.52
</TABLE>
Each of the above transactions was effected on the open market through The
Toronto Stock Exchange or American Stock Exchange. No other person listed in
response to Item 2 above owns beneficially any shares of the Company stock
except as set forth herein.
6
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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: February 23, 1999 /s/ Thomas E. Claugus
----------------------------------------------
Thomas E. Claugus
BAY RESOURCE PARTNERS, L.P.
By: GMT Capital Corp., General Partner
Date: February 23, 1999 By: /s/ Thomas E. Claugus
-------------------------------------------
Thomas E. Claugus, President
BAY RESOURCE PARTNERS OFFSHORE, LTD.
Date: February 23, 1999 By: /s/ Thomas E. Claugus
-------------------------------------------
Thomas E. Claugus, Director
GMT, INC.
Date: February 23, 1999 By: /s/ Thomas E. Claugus
-------------------------------------------
Thomas E. Claugus, President
7
