-----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, SwQhD2WW+Wr3mXgWL9+o+t7TU6JgbJzkv6B2Z7FqKrQofVymhJ4fuX5GEdfjoK12 16xUysFvQ/8dzqGsgfDKJQ== 0000950159-08-001808.txt : 20081121 0000950159-08-001808.hdr.sgml : 20081121 20081121154826 ACCESSION NUMBER: 0000950159-08-001808 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20081121 DATE AS OF CHANGE: 20081121 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PARALLEL PETROLEUM CORP CENTRAL INDEX KEY: 0000750561 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 751971716 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-39822 FILM NUMBER: 081207485 BUSINESS ADDRESS: STREET 1: 1004 N. BIG SPRING STREET 2: SUITE 400 CITY: MIDLAND STATE: TX ZIP: 79701 BUSINESS PHONE: 9156843727 MAIL ADDRESS: STREET 1: 1004 N. BIG SPRING STREET 2: SUITE 400 CITY: MIDLAND STATE: TX ZIP: 79701 FORMER COMPANY: FORMER CONFORMED NAME: PARALLEL PETROLEUM CORP PLLL DATE OF NAME CHANGE: 20040408 FORMER COMPANY: FORMER CONFORMED NAME: PARALLEL PETROLEUM CORP /DE/ DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DREMAN VALUE MANAGEMENT L L C CENTRAL INDEX KEY: 0001055282 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 10 EXCHANGE PLACE CITY: JERSEY CITY STATE: NJ ZIP: 07203 BUSINESS PHONE: 2017932000 MAIL ADDRESS: STREET 1: 10 EXCHANGE PLACE CITY: JERSEY CITY STATE: NJ ZIP: 07203 SC 13G/A 1 parellel13ga.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* Parallel Petroleum Corp. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock (no par value) - -------------------------------------------------------------------------------- (Title of Class of Securities) 699157103 - -------------------------------------------------------------------------------- (CUSIP Number) December 31st, 2007 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed: |X| Rule 13d-1(b) |_| Rule 13d-1(c) |_| Rule 13d-1(d) *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 the disclosures provided in a prior cover page. 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 ("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).
CUSIP NO: 699157103 - -------------------------------------------------------------------------------------------------------------------- 1. Names of Reporting Persons. Dreman Value Management, LLC I.R.S. Identification Nos. Of Above Persons (entities only): 22-3499132 - -------------------------------------------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)_ _____ (b)______ - -------------------------------------------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------------------------------------------- Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 665,450 ----------------------------------------------------------------------- 6. Shared Voting Power 22,900 ------------------------------------------------------------------------ 7. Sole Dispositive Power N/A ------------------------------------------------------------------------ 8. Shared Dispositive Power 2,243,750 - -------------------------------------------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 2,243,750 - -------------------------------------------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): N/A - -------------------------------------------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 5.44% - -------------------------------------------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions): IA - --------------------------------------------------------------------------------------------------------------------
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Item 1. (a) Name Of Issuer: Parallel Petroleum Corp. - -------------------------------------------------------------------------------------------------------------------- (b) Address of Issuer's Principal Executive Offices: 1004 N. Big Spring, Suite 400, Midland, TX 79701 - -------------------------------------------------------------------------------------------------------------------- Item 2. (a) Name of Person Filing: Dreman Value Management, L.L.C. - -------------------------------------------------------------------------------------------------------------------- (b) Address of Principal Business Office or, if none, Residence: 520 East Cooper Avenue, Suite 230-4, Aspen, CO 81611 - -------------------------------------------------------------------------------------------------------------------- (c) Citizenship: Delaware - -------------------------------------------------------------------------------------------------------------------- (d) Title of Class of Securities: Common Stock (no par value) - -------------------------------------------------------------------------------------------------------------------- (e) CUSIP Number: 699157103
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Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) |_| Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); (b) |_| Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) |_| Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) |_| Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) |X| An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with ss.240.13d- 1(b)(1)(ii)(F); (g) |_| A parent holding company or control person in accordance with ss.240.13d- 1(b)(1)(ii)(G); (h) |_| A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) |_| A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). Item 4. Ownership. Amount beneficially owned: (a) 2,243,750 (b) Percent of Class: 5.44% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 665,450 (ii) Shared power to vote or to direct the vote: 22,900
4 (iii) Sole power to dispose or to direct the disposition of N/A (iv) Shared power to dispose or to direct the disposition of 2,243,750 Item 5. Ownership of Five Percent or Less of a Class. N/A Item 6. Ownership of More Than Five Percent on Behalf of Another Person. If this statement is being filed to report the fact that as of the date hereof, the reporting person is the beneficial owner of more than five percent of the class of securities, check the following [X]. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. N/A Item 8. Identification and Classification of Members of the Group. N/A Item 9. Notice of Dissolution of Group. N/A Item 10. Certification. By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of such securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE 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. November 21st, 2008 ------------------- Date Dreman Value Management, LLC /s/ Michael D. Appleton ------------------------ Michael D. Appleton, Chief Compliance Officer 5 Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001) 6 -----END PRIVACY-ENHANCED MESSAGE-----