SC 13D/A 1 d02-37199.txt AMENDMENT NO. 2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* EQUITY OIL COMPANY -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $1.00 Par Value -------------------------------------------------------------------------------- (Title of Class of Securities) 294749-10-6 -------------------------------------------------------------------------------- (CUSIP Number) Asher B. Edelman Todd J. Emmerman, Esq. 717 Fifth Avenue c/o Rosenman & Colin LLP New York, New York 10022 575 Madison Avenue (212) 371-7711 New York, New York 10022 (212) 940-8873 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 16, 2002 -------------------------------------------------------------------------------- (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 |_|. 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 (the "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). SCHEDULE 13D CUSIP NO. 294749-10-6 -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Edelman Value Partners, L.P. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 309,700 Shares OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 309,700 Shares -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 309,700 Shares -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.44% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 2 of 9 SCHEDULE 13D CUSIP NO. 294749-10-6 -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Edelman Value Fund, Ltd. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 403,200 Shares OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 403,200 Shares -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 403,200 Shares -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.18% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 3 of 9 SCHEDULE 13D CUSIP NO. 294749-10-6 -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Asher B. Edelman & Associates LLC -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* N/A -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Turks and Caicos -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 403,200 Shares (comprised of shares owned by Edelman OWNED BY Value Fund, Ltd.) EACH -------------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 403,200 Shares (comprised of shares owned by Edelman Value Fund, Ltd.) -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 403,200 Shares (comprised of shares owned by Edelman Value Fund, Ltd.) -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.18% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 4 of 9 CUSIP NO. 294749-10-6 -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) A.B. Edelman Management Company, Inc. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not applicable -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 309,700 Shares (comprised of shares owned by Edelman OWNED BY Value Partners, Ltd.) EACH -------------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 309,700 Shares (comprised of shares owned by Edelman Value Partners, Ltd.) -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 309,700 Shares (comprised of shares owned by Edelman Value Partners, Ltd.) -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.44% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 5 of 9 CUSIP NO. 294749-10-6 -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Asher B. Edelman -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not applicable -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 712,900 Shares (comprised of shares owned by Edelman OWNED BY Value Partners, L.P. and shares owned by Edelman Value EACH Fund, Ltd.) REPORTING -------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 712,900 Shares (comprised of shares owned by Edelman Value Partners, L.P. and shares owned by Edelman Value Fund, Ltd.) -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 712,900 Shares (comprised of shares owned by Edelman Value Partners, L.P. and shares owned by Edelman Value Fund, Ltd.) -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.62% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 6 of 9 Item 1. Security and Issuer This Amendment No. 2 is being filed by (i) Edelman Value Partners, L.P., a Delaware limited partnership ("Edelman Value Partners"), (ii) Edelman Value Fund, Ltd., a British Virgin Islands corporation ("Edelman Value Fund"), (iii) A.B. Edelman Management Company, Inc., a New York corporation ("Edelman Management"), (iv) Asher B. Edelman & Associates LLC, a Turks and Caicos limited liability company ("Edelman Associates"), and (iv) Asher B. Edelman (such entities and individual are collectively referred to herein as the "Reporting Persons"), with respect to the Common Stock, par value $1.00 per share (the "Common Stock") of Equity Oil Company (the "Company"), a company organized and existing under the laws of the State of Colorado and amends the Schedule 13D ("Schedule 13D") filed on February 6, 2001, as amended by Amendment No. 1 filed on June 18, 2001, by the Reporting Persons. The address of the Company's principal executive offices is 10 West Broadway, Suite 806, Salt Lake City, Utah 84101. Capitalized terms herein which are not otherwise defined herein shall have the meanings ascribed to such terms in the Schedule 13D. Item 5. Interest in Securities of the Issuer. Item 5(a) is hereby amended and restated as follows: The aggregate percentage of the outstanding shares of Common Stock reported owned by each Reporting Person is based upon 12,687,061 shares of Common Stock outstanding as reported in the Company's quarterly report on Form 10-K for the period ended December 31, 2001. As of the close of business on April 16, 2002: (i) Edelman Value Partners owns 309,700 shares of Common Stock which constitute approximately 2.44% of the shares of Common Stock outstanding; (ii) Edelman Management owns no shares of Common Stock. As sole General Partner of Edelman Value Partners, Edelman Management may be deemed, by the provisions of Rule 13d-3 of the Exchange Act Rules, to be the beneficial owner of the 309,700 shares of Common Stock owned by Edelman Value Partners. Such shares of Common Stock constitute approximately 2.44% of the shares of Common Stock outstanding; (iii) Edelman Value Fund owns 403,200 shares of Common Stock which constitute approximately 3.18% of the shares of Common Stock outstanding; (iv) Edelman Associates owns no shares of Common Stock. As Investment Manager of Edelman Value Fund, Edelman Associates may be deemed under the provisions of Rule 13D-3 of the Exchange Act Rules, to be the beneficial owner of the 403,200 shares of Common Stock owned by Edelman Value Fund. Such shares of Common Stock constitute approximately 3.18% of the shares of Common Stock outstanding. (v) Asher B. Edelman owns no shares of Common Stock. As the President and sole Director of Edelman Management, which is the sole General Partner of Edelman Value Partners, and as the Managing Member of Edelman Associates, which Page 7 of 9 is the Investment Manager of Edelman Value Fund, Mr. Edelman may be deemed under the provisions of Rule 13d-3 of the Exchange Act Rules, to be the beneficial owner of the 309,700 shares of Common Stock owned by Edelman Value Partners and the 403,200 shares of Common Stock owned by Edelman Value Fund. Such shares of Common Stock, in the aggregate, constitute approximately 5.62% of the shares of Common Stock outstanding. Item 5(c) is hereby amended as follows: (c) Set forth below is a description of all transactions in shares of Common Stock that were effected during the past sixty days by any of the Reporting Persons. (i) The following transactions were effected on the open market: Purchase Number Price Entity Date or Sale of Shares Per Share ------ ---- ------- --------- --------- Edelman Value Partners LP 2/21/02 S 4,900 $1.70997 Edelman Value Fund Ltd. 2/25/02 S 7,750 $1.70447 Edelman Value Fund Ltd. 2/25/02 S 7,750 $1.70447 Edelman Value Partners LP 2/25/02 S 7,750 $1.70447 Edelman Value Fund Ltd. 2/26/02 S 5,000 $1.74997 Edelman Value Partners LP 2/26/02 S 5,000 $1.74997 Edelman Value Fund Ltd. 2/27/02 S 8,000 $1.74877 Edelman Value Partners LP 2/27/02 P 100 $1.85000 Edelman Value Partners LP 3/1/02 S 6,300 $1.74727 Edelman Value Partners LP 3/5/02 S 9,900 $1.74477 Edelman Value Partners LP 3/6/02 S 6,500 $1.76537 Edelman Value Partners LP 3/7/02 S 20,100 $1.81005 Edelman Value Partners LP 3/8/02 S 9,300 $1.82997 Edelman Value Partners LP 3/11/02 S 13,700 $1.88987 Edelman Value Fund Ltd. 3/11/02 S 14,000 $1.88987 Edelman Value Fund Ltd. 3/13/02 S 7,700 $1.99517 Edelman Value Fund Ltd. 3/14/02 S 7,000 $2.03857 Edelman Value Fund Ltd. 3/15/02 S 800 $2.01996 Edelman Value Fund Ltd. 3/18/02 S 4,200 $1.97997 Edelman Value Fund Ltd. 3/19/02 S 6,500 $2.06997 Edelman Value Fund Ltd. 3/28/02 S 8,000 $2.03247 Edelman Value Fund Ltd. 4/1/02 S 13,300 $ 2.0922 Edelman Value Partners LP 4/2/02 S 2,000 $ 2.145 Edelman Value Partners LP 4/3/02 S 3,000 $ 2.23 Edelman Value Fund Ltd. 4/4/02 S 100 $ 2.14 Edelman Value Fund Ltd. 4/5/02 S 100 $ 2.14 Edelman Value Partners LP 4/8/02 S 2,000 $ 2.24 Edelman Value Partners LP 4/9/02 S 2,500 $ 2.05 Edelman Value Partners LP 4/10/02 S 100 $ 2.03 Edelman Value Partners LP 4/12/02 S 3,000 $ 2 Edelman Value Partners LP 4/15/02 S 2,900 $ 1.9821 Edelman Value Fund Ltd. 4/16/02 S 2,900 $ 2.14 Page 8 of 9 SIGNATURE After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: April 17, 2002 /s/ Sebastiano Andina ---------------------------------------- Sebastiano Andina, as attorney-in-fact for each of Asher B. Edelman, Edelman Value Partners, L.P., Edelman Value Fund, Ltd., Asher B. Edelman & Associates LLC and A.B. Edelman Management Company, Inc. Page 9 of 9