-----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, KxMIu7ddg24GSVRccWheRtkVzp+qhjkeifPw8aK7vL74sgbVBFS+jyibZ1thZyYf +/6HqcWwVEMFVoHH2WSh6w== 0000933259-96-000027.txt : 19960604 0000933259-96-000027.hdr.sgml : 19960604 ACCESSION NUMBER: 0000933259-96-000027 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19960603 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PRIMEENERGY CORP CENTRAL INDEX KEY: 0000056868 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 840637348 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-19766 FILM NUMBER: 96576256 BUSINESS ADDRESS: STREET 1: ONE LANDMARK SQ CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2033585700 MAIL ADDRESS: STREET 1: ONE LANDMARK SQ CITY: STAMFORD STATE: CT ZIP: 06901 FORMER COMPANY: FORMER CONFORMED NAME: KRM PETROLEUM CORP DATE OF NAME CHANGE: 19900614 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VARET MICHAEL A CENTRAL INDEX KEY: 0001015882 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1251 AVENUE OF THE AMERICAS 51ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2124033500 MAIL ADDRESS: STREET 1: 1251 AVENUE OF THE AMERICAS 51ST FL CITY: NEW YORK STATE: NY ZIP: 10020 SC 13D/A 1 AMENDMENT NO. 1 TO SCHEDULE 13D - ------------------------------ OMB APPROVAL - ------------------------------ - ------------------------------ OMB Number: 3235-0145 Expires: December 31, 1997 Estimated average burden hours per form 14.90 - ------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1)* PrimeEnergy Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.10 par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 74158E104 ------------------------------------------------------------ (CUSIP Number) Michael A. Varet, Esq. Piper & Marbury L.L.P. 53 Wall Street New York, New York 10005 (212) 858-5356 - ------------------------------------------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 3, 1996 -------------------------------------------------------------------- (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 |_|. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on 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 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SEC 1746 (12-91) Page 1 of 14 SCHEDULE 13D CUSIP No. 74158E104 - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Robert de Rothschild - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION France - ------ ------------------------------------------------------------------------- ------- -------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 14,000 ------- -------------------------------------------------- ------- -------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY ---- ------- -------------------------------------------------- ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 14,000 ------- -------------------------------------------------- ------- -------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER ---- ------- -------------------------------------------------- - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 530,361 - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |X| - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.0 - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Page 2 of 14 SCHEDULE 13D CUSIP No. 74158E104 - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Amrace Inc. - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (USA) - ------ ------------------------------------------------------------------------- ------- -------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 200,000 ------- -------------------------------------------------- ------- -------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY ---- ------- -------------------------------------------------- ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 200,000 ------- -------------------------------------------------- ------- -------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER ---- ------- -------------------------------------------------- - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 200,000 - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.2 - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Page 3 of 14 SCHEDULE 13D CUSIP No. 74158E104 - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The American Energy Co., Inc. - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware (USA) - ------ ------------------------------------------------------------------------- ------- -------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 293,732 ------- -------------------------------------------------- ------- -------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY ---- ------- -------------------------------------------------- ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 293,732 ------- -------------------------------------------------- ------- -------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER ---- ------- -------------------------------------------------- - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 293,732 - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.1 - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Page 4 of 14 SCHEDULE 13D CUSIP No. 74158E104 - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON A. Stanley Gluck - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------ ------------------------------------------------------------------------- ------- -------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF ---- ------- -------------------------------------------------- ------- -------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 22,629 ------- -------------------------------------------------- ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON ---- ------- -------------------------------------------------- ------- -------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 22,629 ------- -------------------------------------------------- - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON --0-- - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) --0-- - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN OO - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Page 5 of 14 SCHEDULE 13D CUSIP No. 74158E104 - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Michael A. Varet - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - ------ ------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------ ------------------------------------------------------------------------- ------- -------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF ---- ------- -------------------------------------------------- ------- -------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY OWNED BY 22,629 ------- -------------------------------------------------- ------- -------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON ---- ------- -------------------------------------------------- ------- -------------------------------------------------- WITH 10 SHARED DISPOSITIVE POWER 22,629 ------- -------------------------------------------------- - -------- ----------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON --0-- - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) --0-- - -------- ----------------------------------------------------------------------- - -------- ----------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN OO - -------- ----------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Page 6 of 14 Item 1. Security and Issuer. This Schedule 13-D relates to the Common Stock ($.10 par value) of PrimeEnergy Corporation ("PEC"). PEC's principal office is located at One Landmark Square, Stamford, Connecticut 06901. Item 2. Identity and Background. This Schedule is being filed on behalf of the group of PEC Common Stock holders that consists of (i) Amrace Inc., (ii) The American Energy Co., Inc., (iii) Robert de Rothschild and (iv) a trust of which Mr. de Rothschild is the current income beneficiary and Messrs. A. Stanley Gluck and Michael A. Varet are the trustees. Each of the corporations identified in clauses (i) and (ii), and the trust referred to in clause (iv), disclaims beneficial ownership, and power to vote or dispose of, securities the ownership of which is reported on by any of the others or by Mr. de Rothschild. Criminal Legal Name and Business Address Citizenship Occupation Conviction** Proceedings*** Amrace Inc. ("Amrace") Delaware Holding No No 1013 Centre Road Company Wilmington, Delaware 19805-1297 The American New York Holding No No Energy Co., Inc. ("AEC") Company c/o A. Stanley Gluck 1251 Avenue of the Americas New York, New York 10020 Robert de Rothschild France Investor No No 51st Floor 1251 Avenue of the Americas New York, New York 10020 A. Stanley Gluck* U.S.A. Executive No No New Court Services Inc. 1251 Avenue of the Americas New York, New York 10020 Michael A. Varet* U.S.A. Lawyer No No Seventh Floor 53 Wall Street New York, New York 10005 __________________ * As co-trustee of a trust for the benefit of Robert de Rothschild. ** Response in this column indicates whether or not, during the last five years, such person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). *** Response in this column indicates whether or not, during the last five years, such person was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining further violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
Page 7 of 14 The following information is furnished with respect to those reporting persons which are corporations: 2.1 Amrace Inc. 2.1.1 Directors 2.1.1(a) A. Stanley Gluck Business Address: c/o New Court Services Inc. 1251 Avenue of the Americas 51st Floor New York, New York 10020 Principal Occupation: President New Court Services Inc. 1251 Avenue of the Americas 51st Floor New York, New York 10020 Ownership of PEC Securities: See cover sheet for A. Stanley Gluck Citizenship: U.S.A. 2.1.1(b) Michael A. Varet Business Address: c/o Piper & Marbury L.L.P. 53 Wall Street New York, New York 10005 Page 8 of 14 Principal occupation: Lawyer Piper & Marbury L.L.P. 53 Wall Street New York, New York 10005 Ownership of PEC Securities: See cover sheet for Michael A. Varet Citizenship U.S.A. 2.1.2 Executive Officers 2.1.2(a) A. Stanley Gluck - President (See 2.1.1(a) above) 2.1.2(b) Michael A. Varet - Vice President (See 2.1.1 (b) above) 2.1.3 Control Person Robert de Rothschild Business Address: 51st Floor 1251 Avenue of the Americas New York, New York 10020 Principal Occupation: Private Investor Ownership of PEC Securities: See cover sheet for Robert de Rothschild Citizenship: France Page 9 of 14 2.2 The American Energy Co., Inc. 2.2.1 Directors 2.2.1(a) A. Stanley Gluck (See 2.1.1(a) above) 2.2.1(b) Michael A. Varet (See 2.1.1(b) above) 2.2.2 Executive Officers 2.2.2(a) A. Stanley Gluck - President and Treasurer (See 2.1.1(a) above) 2.2.2(b) Michael A. Varet - Vice President and Secretary (See 2.1.1(b) above) 2.2.3 Control Person Robert de Rothschild (See 2.1.3 above) Other Matters. None of Messrs. de Rothschild, Gluck, or Varet has during the past five years (a) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (b) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining further violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Item 3. Source of Funds. All PEC Common Stock owned by the Reporting Persons was acquired by purchase utilizing, in the case of Robert de Rothschild his personal funds; in the case of the previously mentioned trust of which Messrs. Gluck and Varet are co-trustees, funds constituting the principal of the trust; and, in the case of Amrace, working capital, except that the 293,732 shares of PEC Common Stock owned by AEC were acquired by AEC as a distribution from a joint venture in which it is a participant. No borrowed funds have been used by any of the Reporting Persons to acquire PEC Common Stock. Page 10 of 14 Item 4. Purpose of Transaction. The purpose of the Reporting Persons in acquiring the PEC Common Stock is to hold the stock for investment. Although the Reporting Persons may develop other plans or proposals in the future, at present they have no plans or proposals which relate to or would result in: (a) The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the issuer or of any of its subsidiaries; (d) Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) Any material change in the present capitalization or dividend policy of the issuer; (f) any other material change in the issuer's business or corporate structure, including but not limited to, if the issuer is a registered closed- end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by Section 13 of the Investment Company Act of 1940; (g) Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; (h) Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or (j) Any action similar to any of those enumerated above. Page 11 of 14 Item 5. Interest in Securities of the Issuer. Shares Shares Total Total with Sole with Shared Number Percent Name of Voting and Voting and of of Reporting Dispositive Dispositive Shares Class Person Power Power Owned Owned* Amrace 200,000 -- 200,000 4.16 AEC 293,732 -- 293,732 6.11 Robert de Rothschild 14,000 -- 14,000 11.03 A. Stanley** Gluck, as trustee -- 22,629 ) ) ) Michael A.** ) Varet, as trustee -- 22,629 ) 22,629*** 0 __________________ * Based upon 4,806,399 shares of PEC Common Stock issued and outstanding on June 1, 1996, as advised by PEC. ** Disclaims beneficial ownership of the reported shares. *** Alfred Hartmann who was reported on the original Schedule 13D as a co-trustee with Messrs. Gluck and Varet has resigned and no longer serves as trustee.
None of the Reporting Persons have engaged in any transactions in PEC Common Stock in the past sixty days. The filing of this Amendment No. 1 to Schedule 13D is necessitated solely by the fact that the Reporting Persons's percentage ownership of PEC's Common Stock has increased by virtue of the purchase by PEC from persons unrelated to the reporting persons of certain shares of its Common Stock, thereby reducing the number of shares of Common Stock outstanding and increasing the percentage ownership by the Reporting Persons. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. There are no contracts, arrangements or understandings among the Reporting Persons listed in Item 2 either among themselves or with other persons with respect to any securities of the issuer. The following relation- ships exist among such persons: Messrs. Gluck and Varet are co-trustees of a trust for Mr. de Rothschild's benefit which owns PEC Common Stock and 33-1/3 percent of the outstanding stock of each of Amrace and AEC, the balance of which stock is owned by Mr. de Rothschild. Page 12 of 14 Mr. Gluck is employed by a subsidiary of a company in which Mr. de Rothschild has an interest. Because of such relationships the Reporting Persons may be deemed to constitute a group. Item 7. Material to be Filed as Exhibits. None. Page 13 of 14 Signature After reasonable inquiry and to the best of our knowledge and belief, the members of the group on behalf of which this Report is filed certify that the information set forth in this statement is true and correct. Dated: June 3, 1996 AMRACE INC. By: /s/ A. Stanley Gluck A. Stanley Gluck, President THE AMERICAN ENERGY CO., INC. By: /s/ A. Stanley Gluck A. Stanley Gluck, President /s/ A. Stanley Gluck Robert de Rothschild By: A. Stanley Gluck, Attorney-in-Fact /s/ A. Stanley Gluck A. Stanley Gluck /s/ Michael A. Varet Michael A. Varet Page 14 of 14 -----END PRIVACY-ENHANCED MESSAGE-----