UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A-5
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.5)
TOREADOR ROYALTY CORPORATION
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(Name of issuer)
COMMON STOCK $0.15625 PAR VALUE
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891041 10 5
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(Cusip Number)
PETER L. FALB
33 BROAD STREET
BOSTON, MA 02109
Telephone: (617) 742-0666
Facsimile (617) 742-2304
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
April 27, 1998
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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(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ].
<PAGE>
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CUSIP No. 891041 10 5 SCHEDULE 13D/A-5 Page 2 of 9 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Peter Lawrence Falb ###-##-####
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
PF
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7. SOLE VOTING POWER
111,000
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 732,300
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 111,000
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
732,300
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
843,300
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.93%
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14. TYPE OF REPORTING PERSON
IN
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<PAGE>
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CUSIP No. 891041 10 5 SCHEDULE 13D/A-5 Page 3 of 9 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Edward Nathan Dane ###-##-####
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
00
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 732,300
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
732,300
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
732,300
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.71%
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14. TYPE OF REPORTING PERSON
IN
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<PAGE>
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CUSIP No. 891041 10 5 SCHEDULE 13D/A-5 Page 4 of 9 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Firethorn I Limited Partnership 04-3064184
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
00
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
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7. SOLE VOTING POWER
170,000
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 170,000
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
170,000
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.41%
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14. TYPE OF REPORTING PERSON
PN
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<PAGE>
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CUSIP No. 891041 10 5 SCHEDULE 13D/A-5 Page 5 of 9 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Dane, Falb, Stone & Co., Inc. 04-2622331
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
00
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
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7. SOLE VOTING POWER
561,500
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 800
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 561,500
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
800
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
562,300
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.29%
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14. TYPE OF REPORTING PERSON
IA
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<PAGE>
CUSIP No. 891041 10 5
The Schedule 13D previously filed by the undersigned (the "Reporting
Persons") with respect to the Common Stock, $.15625 par value, of Toreador
Royalty Corporation (the "issuer") is hereby amended as follows:
Item 3 is amended and restated to read in its entirely as follows:
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER
CONSIDERATION:
As to 562,300 shares, portfolio funds of investment
advisees of Dane, Falb, Stone & Co., Inc.
Item 4 is hereby supplemented as follows:
ITEM 4 PURPOSE OF TRANSACTION:
(a) Item 4 is hereby supplemented, as follows:
All the shares were purchased and are being held for
investment purposes. Increases in the percentages
reported herein from those previously reported were
caused in some part by a decrease in the number of
shares outstanding. Ownership of the shares is as
follows:
(i) Investment advisory clients of Dane, Falb,
Stone & Co., Inc. ("DFS"), an investment adviser
registered under the Investment Advisers Act of
1940, hold 562,300 shares. Of those shares, DFS
has sole voting and dispositive power with
respect to 561,500 shares and shared voting and
dispositive power with respect to 800 shares.
Peter L. Falb and Edward Nathan Dane are the
principals and sole stockholders of DFS and to
the extent that DFS has the power to vote and
dispose of the shares held by its investment
advisory clients, they share such power. The
acquisition of such 562,300 shares was made in
the ordinary course of business and not with the
purpose nor with the effect of changing or
influencing the control of the issuer nor in
connection with or as a participant in any
transaction having such purpose or effect. The
beneficial ownership by DFS of such shares has
properly been reported on Schedule 13G.
(ii) Mr. Falb owns 111,000 shares directly or
indirectly through family members.
Page 6 of 9 Pages
<PAGE>
CUSIP No. 891041 10 5
(iii) Mr. Dane does not own any shares directly
or indirectly through family members or
otherwise.
(iv) Firethorn I Limited Partnership ("Firethorn
I") is a private investment partnership which
directly owns 170,000 shares.
(b) Mr. Falb, on April 27, 1998, sent a letter to Mr. John Mark
McLaughlin, Chairman, Toreador Royalty Corporation, the text of
which was as follows:
Dear Sir,
Apparently, ethical standards of good faith business
dealing are different in Dallas and in Boston. Our
opposition to any transaction was made crystal clear
to you. Your press release of April 27 does not
mention the fact that major [shareholders] vigorously
oppose your action and will take any and all steps
necessary to prevent further disregard for the
shareholder's interest.
As a substantial shareholder of Toreador Royalty, I
demand that you provide the following items to me and
to my Delaware attorney:
Mr. Jesse Finkelstein
Richards, Layton & Finger
One Rodney Square
Wilmington, DE 19801
(A similar demand with additional requirements will
shortly be sent from the registered [shareholders]:
Karen F. Falb, Trustee, the Hilary Bell Falb 1983
Trust and Karen F. Falb, Trustee, the Alison Forslund
Falb 1985 Trust);
1) CURRENT Shareholder's List;
2) All expense records of officers and
directors and justification for same for the past
nine years (particularly, Mr. Vig's travel, club and
entertainment expenses);
3) A list of all suppliers, vendors,
geologists, partners, etc. dealt with by Toreador
during the past nine years and a statement of the
relationships (if any) with directors and officers of
Toreador;
4) Business plans and budgets for the
past nine years together with the Board's criteria
for evaluating management performance;
5) All material relating to the
private placement of shares at a substantial discount
with
Page 7 of 9 Pages
<PAGE>
CUSIP No. 891041 10 5
particular emphasis on the rationale for such a
dilution of shareholder value;
6) All material relating to drilling,
leasing activity in Arkansas with particular emphasis
on the COMPLETE details of ALL LOSSES deriving from
such activity;
7) All material relating to
negotiations with third parties (e.g. Union Pacific
Resources) regarding the "Red Cave" formation;
8) All employment contracts and a
statement of the basis for compensation, benefits,
etc.
The stewardship of public company is a SERIOUS
FIDUCIARY DUTY. As a substantial shareholder, I must
insist that the Board and Management properly meet
their obligation to the shareholders.
Sincerely,
ITEM 5 IS AMENDED AND RESTATED TO READ IN ITS ENTIRETY AS
FOLLOWS:
<TABLE>
<CAPTION>
ITEM 5(A) SHARES
BENEFICIALLY PERCENTAGE
OWNED OF CLASS
------------ ----------
<S> <C> <C>
Peter L. Falb 843,300 16.93%
Edward Nathan Dane 732,300 14.71%
Dane, Falb, Stone & Co. Inc. 562,300 11.29%
Firethorn I Limited Partnership 170,000 3.41%
</TABLE>
ITEM 5(B)
<TABLE>
<CAPTION>
SOLE SHARED SOLE SHARES
VOTING VOTING DISPOSITIVE DISPOSITIVE
POWER POWER POWER POWER
------ ------ ----------- -----------
<S> <C> <C> <C> <C>
Peter L. Falb 111,000 732,300 111,000 732,300
Edward Nathan Dane -- 732,300 -- 732,300
Dane, Falb, Stone & Co., Inc. 561,500 800 562,300 800
Firethorn I Limited Partnership 170,000 -- 170,000 --
</TABLE>
Page 8 of 9 Pages
<PAGE>
CUSIP No. 891041 10 5
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.
<TABLE>
<CAPTION>
<S> <C>
May 1, 1998 /s/ Peter L. Falb
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May 1, 1998 /s/ Edward Nathan Dane
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DANE, FALB, STONE & CO., INC.
May 1, 1998 By: /s/ Peter L. Falb, Treasurer
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May 1, 1998 By: /s/ Edward Nathan Dane, President
------------------------------------
FIRETHORN I LIMITED PARTNERSHIP
By: FIRETHORN II LIMITED PARTNERSHIP,
its general partner
By: EAGLEROCK CORPORATION, its
general partner
May 1, 1998 By: /s/ Peter L. Falb, Treasurer
------------------------------------
May 1, 1998 By: /s/ Edward Nathan Dane, President
------------------------------------
</TABLE>
Page 9 of 9 Pages
