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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
________________________________________________________________________________
1. Name and Address of Reporting Person*
Coughlin Paul J
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(Last) (First) (Middle)
c/o CoMac Partners, L.P. 1 Greenwich Office Park
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(Street)
Greenwich CT 06831
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
August 1, 2000
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
________________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
Southern Mineral Corporation (SMOP.OB)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
________________________________________________________________________________
6. If Amendment, Date of Original (Month/Day/Year)
________________________________________________________________________________
7. Individual or Joint/Group 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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<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>
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</TABLE>
(Over)
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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 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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6.875% Convertible 8/29/00 N/A Common Stock, par 659,814 N/A (8) I (2)(3)
subordinated Debentures(1) (1) value $0.01
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6.875% Convertible 8/29/00 N/A Common Stock, par 883,433 N/A (8) I (2)(4)
subordinated Debentures(1) (1) value $0.01
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6.875% Convertible 8/29/00 N/A Common Stock, par 105,138 N/A (8) I (2)(5)
subordinated Debentures(1) (1) value $0.01
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6.875% Convertible 8/29/00 N/A Common Stock, par 1,840 N/A (8) I (2)(6)
subordinated Debentures(1) (1) value $0.01
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6.875% Convertible 8/29/00 N/A Common Stock, par 69,018 N/A (8) I (7)
subordinated Debentures(1) (1) value $0.01
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Reminder: report on a separate line for each class of securities beneficially owned directly or indirectly.
Explanation of Responses:
See Attachment
</TABLE>
/s/ Paul J. Coughlin 8/10/00
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**Signature of Reporting Person Date
* If the form is filed by more than one reporting person, see Instruction
5(b)(v).
** 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.
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Attachment to Form 3
Joint Filer Information
Name: Christopher M. Mackey
Address: 1 Greenwich Office Park
Greenwich, CT 06831
Designated Filer: Paul J. Coughlin
Issuer & Ticker Symbol: Southern Mineral Corporation (SMOP.OB)
Date of Event
Requiring Statement: August 1, 2000
Signature:
By: /s/ Christopher M. Mackey
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Joint Filer Information
Name: CoMac Advisers, Inc.
Address: 1 Greenwich Office Park
3rd Floor
Greenwich, CT 06831
Designated Filer: Paul J. Coughlin
Issuer & Ticker Symbol: Southern Mineral Corporation (SMOP.OB)
Date of Event
Requiring Statement: August 1, 2000
Signature:
COMAC ADVISERS, INC.
By: /s/ Paul J. Coughlin
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Name: Paul J. Coughlin
Title: Authorized Signatory
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Footnotes
Designated Filer: Paul J. Coughlin
Issuer and Ticker Symbol: Southern Mineral Corporation (SMOP.OB)
Date of Event
Requiring Statement: August 1, 2000
Footnotes
1. On August 1, 2000, the Plan of Reorganization (the "Plan") of
Southern Mineral Corporation (the "Company") became effective (the
"Effective Date"). Pursuant to the Plan, Common Stock will be
issued to the holders of the Company's 6.875% Convertible
Subordinated Debentures within 20 business days of the Effective
Date. In connection therewith, Common Shares ("Shares") of the
Company are expected to be issued to Carol Ann Coughlin (Mr.
Coughlin's spouse) and CoMac Partners, L.P., a Delaware limited
partnership, CoMac Endowment Fund, L.P., a Delaware limited
partnership, CoMac International N.V., a Netherlands Antilles
corporation and CoMac Opportunities Fund, L.P., a Delaware limited
partnership (collectively, the "Funds") in respect of the 6.875%
Convertible Subordinated Debentures held by Ms. Coughlin and the
Funds. See Notes (2)-- (7). Mr. Coughlin was also appointed to the
Company's Board of Directors pursuant to the Plan.
2. Shares held by the Funds. See Notes (3)-- (7). Messrs. Coughlin
and Mackey are executive officers, directors and shareholders of
CoMac Advisers, Inc., a Delaware corporation ("Advisers Inc."),
which is the sole general partner of CoMac Associates, L.P., a
Delaware limited partnership ("Advisers LP"). Advisers LP is the
sole general partner of CoMac Partners, L.P. Advisers Inc. is the
sole general partner of CoMac Opportunities Fund, L.P. and CoMac
Endowment Fund, L.P. Messrs. Coughlin and Mackey are members of
the supervisor board of directors of CoMac International, N.V. and
are executive officers, directors and shareholders of CMS
Advisers, Inc., a Delaware corporation, the investment adviser to
CoMac International N.V. Pursuant to Instruction 5(iv) to Form 3,
the entire amount of the securities held by the Funds are
reported. Mr. Mackey, Mr. Coughlin and Advisers Inc. each disclaim
beneficial ownership of such securities, except to the extent of
their respective actual pecuniary interest in such securities.
3. Shares held directly by CoMac Partners, L.P. See Note 2 above.
4. Shares held directly by CoMac Endowment Fund, L.P. See Note 2
above.
5. Shares held directly by CoMac International N.V. See Note 2 above.
6. Shares held directly by CoMac Opportunities Fund, L.P. See Note 2
above.
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Footnotes (continued)
Designated Filer: Paul J. Coughlin
Issuer and Ticker Symbol: Southern Mineral Corporation (SMOP.OB)
Date of Event
Requiring Statement: August 1, 2000
Footnotes (continued)
7. Shares held directly by Mr. Coughlin's spouse. Mr. Mackey, Mr.
Coughlin and Advisers Inc. each disclaim beneficial ownership of
such securities, except to the extent of their respective actual
pecuniary interest in such securities.
8. Shares to be issued pursuant to the Plan in exchange for
previously existing debt.
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