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U.S. SECURITIES AND EXCHANGE COMMISSION
FORM 3 WASHINGTON, DC 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
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<S> <C> <C> <C>
1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or Trading
(A) CPN Sheridan, Inc. Statement Symbol
(B) Calpine Corporation (Month/Day/Year) SHERIDAN ENERGY, INC. (SHDN)
_____________________________________ ____________________________________
(Last) (First) (Middle) 8/25/99 5. Relationship of Reporting Person 6. If Amendment,
to Issuer (Check all applicable) Date of Original
________________________ __ Director X_ 10% Owner (Month/Day/Year)
50 West San Fernando Street 3. IRS Identification __ Officer (give __ Other (specify
_____________________________________ Number of Reporting title below)
(Street) Person, if an Entity below)
(Voluntary)
(A) 77-0521272
(B) 77-0498817
San Jose, California 95113 7. Individual or
_____________________________________ Joint/Group
(City) (State) (Zip) Filing (Check
applicable line)
__ Form filed by
One Reporting
Person
_X Form filed by
More than One
Reporting
Person
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TABLE I --NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect
(Instr. 4) Beneficially Owned Form: Direct Beneficial Ownership
(Instr. 4) (D) or Indirect (Instr. 4)
(I) (Instr. 5)
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* If the 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)
(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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1. Title of 2. Date Exercisable 3. Title and Amount of 4. Conversion or 5. Ownership 6. Nature of
Derivative and Expiration Date Securities Underlying Exercise Price Form of Indirect
Security (Month/Day/Year) Derivative Security of Derivative Derivative Beneficial
(Instr. 4) (Instr. 4) Security Security: Ownership
Amount or Direct (D) (Instr. 5)
Date Expiration Number of or Indirect
Exercisable Date Title Shares (I) (Instr. 5)
<S> <C> <C> <C> <C> <C> <C> <C>
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Stock Option* 8/25/99 # Common Stock, par 4,067,537 $5.50 I By CPN
value $0.01 per Sheridan Inc.
share
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Explanation of Responses:
* CPN Sheridan Inc. ("Merger Subsidiary"), a wholly-owned subsidiary of
Calpine Corporation ("Parent"), has the right to purchase from certain
stockholders of Sheridan Energy, Inc. (the "Company"), subject to
certain conditions, for $5.50 per share subject to adjustment (i) up to
3,492,537 shares of common stock of the Company, (ii) up to an
additional 425,000 shares issuable under outstanding stock options and
(iii) options up to an additional 150,000 shares issuable upon exercise
of outstanding warrants pursuant to the Stockholder Agreement, dated as
of August 25, 1999. The Stockholder Agreement and the Agreement and
Plan of Merger have been filed as Exhibits 99(c)(2) and 99(c)(1),
respectively, to the Tender Offer Statement 14D-1 of Parent and Merger
Subsidiary, dated August 31, 1999, with respect to the Shares of the
Company.
# The option is exercisable from August 25, 1999 until 20 business days
after the termination of the Agreement and Plan of Merger.
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C.. 78ff(a).
SIGNATURES ON ATTACHED PAGE SEE ATTACHED PAGE
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** Signature of Reporting Person Date
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient,
See Instruction 6 for procedure.
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Signatures of Reporting Persons
Date: September 3, 1999 CPN Sheridan, Inc.
By: /s/ Ann B. Curtis
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Name: Ann B. Curtis
Title: Vice President, Chief
Financial Officer and Secretary
Date: September 3, 1999 Calpine Corporation
By: /s/ Ann B. Curtis
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Name: Ann B. Curtis
Title: Executive Vice President
