SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1)*
BLUE DOLPHIN ENERGY COMPANY
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
095395 20 8
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(CUSIP Number)
N.L. Stevens, III, 1000 Louisiana, Suite 3400, Houston, Texas 77002
(713) 276-5500
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 30, 2004
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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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [_].
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 6 Pages)
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* 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 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. 095395 20 8 13D Page 2 of 6 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Western Gulf Pipeline Partners, L.P.
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
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
Texas
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF
916,667
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
916,667
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
-0-
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
916,667
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.2%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 095395 20 8 13D Page 3 of 6 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Peregrine Management, LLC
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
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
Texas
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF
916,667
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
916,667
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
-0-
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
916,667
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.2%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
OO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 095395 20 8 13D Page 4 of 6 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Steven A. Webster
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF
916,667
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
916,667
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
-0-
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
916,667
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.2%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 095395 20 8 13D Page 5 of 6 Pages
________________________________________________________________________________
Item 1. Security and Issuer.
This Amendment No. 1 to Schedule 13D (this "Filing") is filed by the
undersigned to amend and supplement the Schedule 13D, dated as of September 17,
2004 (the "Original 13D"). The Original 13D related to the common stock, $0.01
par value ("Common Stock"), of Blue Dolphin Energy Company, a Delaware
corporation (the "Company"), which has its principal executive offices located
at 801 Travis, Suite 2100, Houston, Texas 77002. This Filing reports Western
Gulf Pipeline Partners, LP's acquisition of 458,333 additional warrants to
purchase shares of Common Stock. Capitalized terms used herein and not otherwise
defined shall have the meaning set forth in the Original 13D.
________________________________________________________________________________
Item 2. Identity and Background.
1(b), 2(b), and 3(b) of Item 2 of the Original 13D are amended and restated in
their entirety, respectively, to read as follows:
"1000 Louisiana, Suite 1500, Houston, Texas 77002-5007"
________________________________________________________________________________
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of the Original 13D is amended and restated in its entirety to
read as follows:
"Funds of $275,000 for its promissory note (as explained below) and
funds for the purchase of the Western Gulf Initial Warrants and Western
Gulf Additional Warrants (as defined below) came from Western Gulf's
working capital reserves. Any funds needed for any anticipated exercise
of the Western Gulf Initial Warrants and Western Gulf Additional
Warrants by Western Gulf are expected to come from its working capital
reserves."
________________________________________________________________________________
Item 4. Purpose of Transaction.
Item 4 of the Original 13D is amended and restated in its entirety to
read as follows:
"On September 8, 2004, Company, on the one hand, and Western Gulf, and
numerous other investors, on the other hand, signed a Note and Warrant
Purchase Agreement (the "Agreement") whereby Western Gulf and other
investors agreed to provide a total of $750,000 worth of individual
promissory notes to Company. The Agreement also authorized the sale and
issuance of 1,250,000 warrants to purchase shares of the Common Stock
to Western Gulf and the other investors (the "Initial Warrants").
Pursuant to the Agreement, on September 8, 2004, Western Gulf purchased
458,334 of the 1,250,000 warrants ("Western Gulf Initial Warrants").
On November 11, 2004, pursuant to the Agreement, the Company's
stockholders held a special meeting ("Special Meeting"), and inter
alia, approved the sale and issuance of 1,550,000 additional warrants
("Additional Warrants") to purchase shares of the Company's Common
Stock to Western Gulf and the other investors. On November 30, 2004,
Western Gulf purchased 458,333 of the 1,550,000 Additional Warrants
("Western Gulf Additional Warrants").
At the Special Meeting, the Company's stockholders also granted
warrants to acquire 300,000 shares, in total, of Common Stock to
certain members of the Company's Board of Directors. (the "Director
Warrants").
The persons signing this Filing have not acquired or disposed of any
shares of the Company's Common Stock in the public market but reserve
the right to do so in the future.
The persons signing this Filing may, from time to time, propose to
Company management transactions which, in the opinion of the persons
signing this Filing, have the potential to augment, expand or improve
the Company's business and which could affect changes in the items
described below. However, other than as set forth in this Item 4, the
persons signing this Filing do not have any specific plans or proposals
which relate to or would result in any extraordinary corporate
transaction, such as a merger, reorganization or liquidation, involving
the Company or any of its subsidiaries; a sale or transfer of a
material amount of assets of the Company or any of its subsidiaries;
any change in the present board of directors or management of the
Company; any change in the present capitalization or dividend policy of
the Company; any other material change in the Company's business or
corporate structure; changes in the Company's charter, bylaws or
instruments corresponding thereto or other actions which may impede the
CUSIP No. 095395 20 8 13D Page 6 of 6 Pages
________________________________________________________________________________
Item 4. Purpose of Transaction (continued)
acquisition of control of the Company by any person; causing a class of
securities of the Company 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; a
class of securities of the Company becoming eligible for termination or
registration pursuant to Section 12(g)(4) of the Securities Exchange
Act of 1934, as amended; or any action similar to any of those
enumerated above; but such persons reserve the right to propose or
undertake or participate in any of the foregoing actions in the
future."
________________________________________________________________________________
Item 5. Interest in Securities of the Issuer.
Item 5(a) of the Original 13D is amended and restated in its entirety
to read as follows:
"(a) Western Gulf is deemed to beneficially own 916,667 shares of
Common Stock, which represents 9.2% of the outstanding Common Stock of
the Company.
As the general partner of Western Gulf, Peregrine is deemed to
beneficially own 916,667 shares of Common Stock, which represents 9.2%
of the outstanding Common Stock of the Company.
As President of Peregrine, Western Gulf's general partner, Mr. Webster
is deemed to beneficially own 916,667 shares of Common Stock, which
represents 9.2% of the outstanding Common Stock of the Company.
The percentage calculations are based upon 9,913,689 shares of Common
Stock outstanding, which includes the 6,813,689 shares of Common Stock
outstanding as of November 10, 2004, as stated in the Company's most
recent Form 10-Q that was filed on November 12, 2004, the 1,250,000
Initial Warrants, the 1,550,000 Additional Warrants and the 300,000
Director Warrants."
(b) Unchanged.
(c) Unchanged.
(d) Unchanged.
(e) Unchanged.
________________________________________________________________________________
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Unchanged.
________________________________________________________________________________
Item 7. Material to be Filed as Exhibits.
Unchanged.
________________________________________________________________________________
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.
WESTERN GULF PIPELINE PARTNERS, L.P.
Dated: December 13, 2004 By: PEREGRINE MANAGEMENT, LLC
By: /s/ Steven A. Webster
---------------------------------
Steven A. Webster, President
PEREGRINE MANAGEMENT, LLC
Dated: December 13, 2004 By: /s/ Steven A. Webster
---------------------------------
Steven A. Webster, President
Dated: December 13, 2004 /s/ Steven A. Webster
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Steven A. Webster, individually