-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MAYjk0E33yp/EkK6p0UvdxvGEebii3Pc8UAGy6OdJAYTdM9Wj2P0ExvsdYeTJmNb BX6Gfej4u9yBD5pPsuVvdA== 0000950116-97-002002.txt : 19971106 0000950116-97-002002.hdr.sgml : 19971106 ACCESSION NUMBER: 0000950116-97-002002 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19971105 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COMSTOCK RESOURCES INC CENTRAL INDEX KEY: 0000023194 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 941667468 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-38546 FILM NUMBER: 97708080 BUSINESS ADDRESS: STREET 1: 5005 LBJ FRWY STE 1000 CITY: DALLAS STATE: TX ZIP: 75244 BUSINESS PHONE: 2147012000 MAIL ADDRESS: STREET 1: 5005 LBJ FREEWAY STREET 2: STE 1000 CITY: DALLAS STATE: TX ZIP: 75244 FORMER COMPANY: FORMER CONFORMED NAME: COMSTOCK TUNNEL & DRAINAGE CO DATE OF NAME CHANGE: 19880121 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CAMBRIDGE INVESTMENTS LTD/ CENTRAL INDEX KEY: 0001029513 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 942784624 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 600 MONTGOMERY ST STREET 2: 27TH FL CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4157810866 MAIL ADDRESS: STREET 1: 600 MONTGOMERY ST CITY: SAN FRANCISCO STATE: CA ZIP: 94111 SC 13D 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 AMENDMENT NO. 1 TO SCHEDULE 13D Under the Securities Exchange Act of 1934 COMSTOCK RESOURCES, INC. ------------------------------------------------------ (Name of Issuer) Common Stock, $0.50 Par Value ------------------------------------------------------ (Title of Class of Securities) 205768203 (CUSIP NUMBER) CAMBRIDGE INVESTMENTS, LTD. 600 Montgomery Street 27th Floor San Francisco, California 94111 Tel. No.: (415) 627-3017 ----------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) - with copies to - Michael G. Tannenbaum, Esq. Newman Tannenbaum Helpern Syracuse & Hirschtritt LLP 900 Third Avenue - 13th Floor New York, New York 10022 (212) 508-6700 October 2, 1997 and October 23, 1997 ----------------------------------------------------- (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 [ ] The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. Page 1 of 8 Pages _______________________________________________________________________________ CUSIP No. 205768203 13D _______________________________________________________________________________ 1 NAME OF REPORTING PERSONS S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Cambridge Investments, Ltd. ______________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] ______________________________________________________________________________ 3 SEC USE ONLY ______________________________________________________________________________ 4 SOURCE OF FUNDS* 00 ______________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] ______________________________________________________________________________ 6 CITIZENSHIP OR PLACE OR ORGANIZATION U.S.A. _______________________________________________________________________________ | | NUMBER OF | 7 | SOLE VOTING POWER SHARES | | BENEFICIALLY | | as of October 20, 1997, 1,565,800 shares of Common OWNED BY | | Stock (See Item 5.) EACH | | REPORTING | | as of October 23, 1997, 1,390,400 shares of Common PERSON WITH | | Stock (See Item 5.) |_____|________________________________________________________ | | | 8 | SHARED VOTING POWER | | 0 |_____|________________________________________________________ | | | 9 | SOLE DISPOSITIVE POWER | | as of October 20, 1997, 1,565,800 shares of Common | | Stock (See Item 5.) | | | | as of October 23, 1997, 1,390,400 shares of Common | | Stock (See Item 5.) |_____|_________________________________________________________ | | | 10 | SHARED DISPOSITIVE POWER | | 0 _______________|_____|_________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON as of October 20, 1997, 1,565,800 shares of Common Stock (See Item 5.) as of October 23, 1997, 1,390,400 shares of Common Stock (See Item 5.) ______________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] ______________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) as of October 20, 1997, 6.47% shares of Common Stock (See Item 5.) as of October 23, 1997, 5.75% shares of Common Stock (See Item 5.) ______________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IA ______________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT Page 2 of 8 Pages AMENDMENT NO. 1 TO ------------------ SCHEDULE 13D ------------ This Amendment No. 1 to Schedule 13D is being filed on behalf of Cambridge Investments, Ltd., a California corporation ("Cambridge" or "CIL"), registered as an investment advisor in the State of California, regarding shares of Comstock Resources, Inc. acquired on behalf of certain of its clients. The information contained in this amendment reflects activity relating to two reportable events. The first of these reportable events occurred on October 2, 1997 and resulted from Cambridge's beneficial ownership in the Issuer increasing by more than 1% over that which was previously reported. The second reportable event occurred on October 23, 1997 and resulted from Cambridge's beneficial ownership in the Issuer decreasing by more than 1% below that which it beneficially owned as of October 20, 1997. Item 1. Security and Issuer ------------------- Securities acquired: Common Stock, $0.50 par value Issuer: Comstock Resources, Inc. (the "Issuer") 5005 LBJ Freeway - Suite 1000 Dallas, TX 75244 (214) 701-2000 Item 2. Identity and Background ----------------------- There is no change in this section. Item 3. Source and Amount of Funds -------------------------- (i) October 2, 1997 Event: As of October 20, 1997, Cambridge, through Cambridge Energy, L.P. ("CELP"), Cambridge Energy Fund International Ltd. ("CEF") Cambridge Oil & Gas, L.P. ("COG"), Cambridge Oil & Gas International, Ltd. ("COG Int'l"), Palamundo, LDC ("Palamundo"), Quantum Partners, LDC ("QUE") and Cambridge (collectively, the "Funds"), has invested approximately $16,860,833.44 in Common Stock of the Issuer as described in Item 5 below. CELP, CEF, COG, COG Int'l., Palamundo, QUE and Cambridge have invested approximately $3,610,255.47 $3,367,198.46, $1,038,790.25, $725,892.50, $113,109.75, $3,334,510.60 and $2,059,116.41, respectively. The source of these funds was the respective working capital of each of the Funds. JRT may be deemed to have invested directly and indirectly approximately $2,611,960.06 in Common Stock of the Issuer as described in Item 5 below. (ii) October 23, 1997 Event: As of October 23, 1997, Cambridge, through Cambridge Energy, L.P. ("CELP"), Cambridge Energy Fund International Ltd. ("CEF") Cambridge Oil & Gas, L.P. ("COG"), Cambridge Oil & Gas International, Ltd. ("COG Int'l"), Palamundo, LDC ("Palamundo"), and Quantum Partners, LDC ("QUE") (collectively, the "Funds"), has invested approximately $14,949,048 in Common Stock of the Page 3 of 8 Pages Issuer as described in Item 5 below. CELP, CEF, COG, COG Int'l., Palamundo, QUE and Cambridge have invested approximately $4,891,740.30, $4,648,682.80, $1,038,790.25, $725,892.50, $113,109.75, $3,334,510.60 and $0, respectively. The source of these funds was the respective working capital of each of the Funds. JRT may be deemed to have invested directly and indirectly approximately $196,320.75 in Common Stock of the Issuer as described in Item 5 below. Item 4. Purpose of the Transaction -------------------------- There is no change in this section. Item 5. Interest in Securities of the Issuer ------------------------------------ (a)(i) October 2, 1997 Event: As of October 20, 1997, Cambridge is the beneficial owner of 1,565,800 shares of Common Stock, or 6.47% shares of the shares outstanding. Of the 1,565,800 shares of Common Stock described above, (i) 402,900 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of CELP; (ii) 337,366 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of CEF; (iii) 83,200 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of COG; (iv) 60,650 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of COG Int'l.; (v) 10,784 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of Palamundo; (vi) 273,500 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of QUE; and (vii) 169,800 are deemed beneficially owned by Cambridge in its capacity as investment advisor for its institutional account. JRT, directly and indirectly, may be deemed the beneficial owner of 227,600 shares of Common Stock or, in the aggregate, 0.9% of the shares outstanding. (a)(ii) October 23, 1997 Event: As of October 23, 1997, Cambridge is the beneficial owner of 1,390,400 shares of Common Stock, or 5.75% shares of the shares outstanding. Of the 1,390,400 shares of Common Stock described above, (i) 498,900 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of CELP; (ii) 433,366 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of CEF; (iii) 83,200 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of COG; (iv) 60,650 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of COG Int'l.; (v) 10,784 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of Palamundo; and (vi) 273,500 are deemed beneficially owned by Cambridge in its capacity as investment advisor for the institutional account of QUE. JRT, directly and indirectly, may be deemed the beneficial owner of 30,000 shares of Common Stock or, in the aggregate, 0.1% of the shares outstanding. Page 4 of 8 Pages The number of shares beneficially owned by Cambridge, and the percentage of outstanding shares represented thereby, have been computed in accordance with Rule 13d-3 under the Act. The percentage of ownership of Cambridge on October 20, 1997 and October 23, 1997 is based on 24,199,785 outstanding shares of Common Stock as reported in the Issuer's Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on August 11, 1997. (b) Cambridge has the sole power to vote and dispose of the shares of Common Stock held for the institutional accounts of CELP, CEF, COG, COG Int'l., Palamundo, QUE and Cambridge, respectively. As of October 20, 1997, JRT has the sole power to vote and dispose of the 227,600 shares of Common Stock held by him directly or through an entity established for the benefit of his family. As of October 23, 1997, JRT has the sole power to vote and dispose of the 30,000 shares of Common Stock held by him directly or through an entity established for the benefit of his family. (c) The transactions in the Issuer's securities by Cambridge since the last filing are listed as Annex A attached hereto and made apart hereof. (d) The Funds, respectively, and the entity established for the benefit of JRT's family have the right to participate in the receipt of dividends from, or proceeds from the sale of securities held on behalf of such funds. (e) Not Applicable. Item 6. Contracts, Arrangement, Understandings or Relationships with ------------------------------------------------------------ Respect to Securities of the Issuer ----------------------------------- There is no change in this section. Item 7. Material to be Filed as Exhibits -------------------------------- There is no change in this section. Page 5 of 8 Pages CRK ---
========================================================================================================================== DATE TRANS SHARES PRICE ACCOUNT (A/D) ($) - -------------------------------------------------------------------------------------------------------------------------- 09/05/97 A 14,800 12.25 CEF - -------------------------------------------------------------------------------------------------------------------------- 09/05/97 A 15,200 12.25 CELP - -------------------------------------------------------------------------------------------------------------------------- 09/05/97 A 4,000 12.25 COG - -------------------------------------------------------------------------------------------------------------------------- 09/05/97 A 800 12.25 COGI - -------------------------------------------------------------------------------------------------------------------------- 09/05/97 A 4,800 12.25 JRT* - -------------------------------------------------------------------------------------------------------------------------- 09/05/97 A 800 12.25 PAL - -------------------------------------------------------------------------------------------------------------------------- 09/05/97 A 4,400 12.25 QUE - -------------------------------------------------------------------------------------------------------------------------- 09/24/97 D (51,500) 11.6432 JRT* - -------------------------------------------------------------------------------------------------------------------------- 09/25/97 D (8,300) 11.8025 JRT* - -------------------------------------------------------------------------------------------------------------------------- 10/01/97 D (4,800) 11.8125 CEF - -------------------------------------------------------------------------------------------------------------------------- 10/01/97 D (4,900) 11.8125 CELP - -------------------------------------------------------------------------------------------------------------------------- 10/01/97 A 2,900 11.8125 COG - -------------------------------------------------------------------------------------------------------------------------- 10/01/97 A 9,000 11.8125 COGI - -------------------------------------------------------------------------------------------------------------------------- 10/01/97 A 11,300 12.083 JRT* - -------------------------------------------------------------------------------------------------------------------------- 10/01/97 A 11,000 12.083 JRT* - -------------------------------------------------------------------------------------------------------------------------- 10/01/97 D (200) 11.8125 PAL - -------------------------------------------------------------------------------------------------------------------------- 10/01/97 D (2,000) 11.8125 QUE - -------------------------------------------------------------------------------------------------------------------------- 10/02/97 D (12,750) 12.375 CEF - -------------------------------------------------------------------------------------------------------------------------- 10/02/97 D (12,600) 12.375 CELP - -------------------------------------------------------------------------------------------------------------------------- 10/02/97 A 123,500 12.5 CIL - -------------------------------------------------------------------------------------------------------------------------- 10/02/97 A 30,000 12.375 COGI - -------------------------------------------------------------------------------------------------------------------------- 10/02/97 A 120,000 12.5 JRT* - -------------------------------------------------------------------------------------------------------------------------- 10/02/97 A 50,000 12.5 JRT* - -------------------------------------------------------------------------------------------------------------------------- 10/02/97 D (1,050) 12.375 PAL - -------------------------------------------------------------------------------------------------------------------------- 10/02/97 D (3,600) 12.375 QUE - -------------------------------------------------------------------------------------------------------------------------- 10/06/97 D (10,000) 13.25 CEF - --------------------------------------------------------------------------------------------------------------------------
Page 6 of 8 Pages
======================================================================================================================== DATE TRANS SHARES PRICE ACCOUNT (A/D) ($) - ------------------------------------------------------------------------------------------------------------------------ 10/06/97 D (10,000) 13.25 CELP - ------------------------------------------------------------------------------------------------------------------------ 10/06/97 A 60,000 13.3844 QUE - ------------------------------------------------------------------------------------------------------------------------ 10/06/97 A 10,000 13.25 QUE - ------------------------------------------------------------------------------------------------------------------------ 10/07/97 A 25,000 13.5 QUE - ------------------------------------------------------------------------------------------------------------------------ 10/09/97 A 21,500 12.9971 QUE - ------------------------------------------------------------------------------------------------------------------------ 10/20/97 D (61,000) 12.9547 JRT* - ------------------------------------------------------------------------------------------------------------------------ 10/21/97 D (50,000) 13.25 JRT* - ------------------------------------------------------------------------------------------------------------------------ 10/21/97 D (20,000) 13.1875 JRT* - ------------------------------------------------------------------------------------------------------------------------ 10/22/97 D (127,600) 13.4156 JRT* - ------------------------------------------------------------------------------------------------------------------------ 10/23/97 A 96,000 13.3488 CEF - ------------------------------------------------------------------------------------------------------------------------ 10/23/97 A 96,000 13.3488 CELP - ------------------------------------------------------------------------------------------------------------------------ 10/23/97 D (169,800) 13.375 CIL ========================================================================================================================
* These transactions relate to shares held by JRT and any entity established for the benefit of his family. Page 7 of 8 Pages Signatures - ---------- After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: November 3, 1997 CAMBRIDGE INVESTMENTS, LTD. By: /s/ Jocelyn E. Weingart ----------------------- Jocelyn E. Weingart, Vice President Page 8 of 8 Pages -----END PRIVACY-ENHANCED MESSAGE-----