Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13G
Under
the Securities Exchange Act of 1934
(Amendment
No. 3)*
U.S.
ENERGY CORP.
(Name of Issuer)
(Name of Issuer)
Common
Stock, $.01 par value per share
(Title of Class of Securities)
(Title of Class of Securities)
911805109
(CUSIP Number)
(CUSIP Number)
December
31, 2009
(Date of Event which Requires Filing of this Statement)
(Date of Event which Requires Filing of this Statement)
Check the
appropriate box to designate the rule pursuant to which this Schedule is
filed:
[
] Rule 13d-1(b)
[ X ]
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).
Continued
on following pages
Page 1 of 9 Pages
Exhibit Index: Page 8
Page 1 of 9 Pages
Exhibit Index: Page 8
Schedule
13G/A
|
CUSIP
No.: 911805109
|
Page 2
of 9 Pages
|
|
1.
|
Names
of Reporting Persons.
I.R.S.
Identification Nos. of above persons (entities only).
CORRIENTE
ADVISORS, LLC
|
|||
|
2.
|
Check
the Appropriate Box if a Member of a Group
(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 |
0
|
|
|
6.
|
Shared Voting Power |
0
|
||
|
7.
|
Sole Dispositive Power |
0
|
||
|
8.
|
Shared Dispositive Power |
0
|
||
|
9.
|
Aggregate
Amount Beneficially Owned by Each Reporting Per
0
|
|||
|
10.
|
Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
|
|||
|
11.
|
Percent
of Class Represented by Amount in Row (9)
0%
based on 21,349,058 shares outstanding as of November 6,
2009.
|
|||
|
12.
|
Type
of Reporting Person:
OO/IA
|
|||
Schedule
13G/A
|
CUSIP
No.: 911805109
|
Page 3
of 9 Pages
|
|
1.
|
Names
of Reporting Persons.
I.R.S.
Identification Nos. of above persons (entities only).
MARK
L. HART III
|
|||
|
2.
|
Check
the Appropriate Box if a Member of a Group
(a)
[ ]
(b)
[ ]
|
|||
|
3.
|
SEC
Use Only
|
|||
|
4.
|
Citizenship
or Place of Organization
United
States of America
|
|||
|
Number
of
Shares
Beneficially
Owned
by Each
Reporting
Person
With
|
5.
|
Sole Voting Power |
0
|
|
|
6.
|
Shared Voting Power |
0
|
||
|
7.
|
Sole Dispositive Power |
0
|
||
|
8.
|
Shared Dispositive Power |
0
|
||
|
9.
|
Aggregate
Amount Beneficially Owned by Each Reporting Person
0
|
|||
|
10.
|
Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
|
|||
|
11.
|
Percent
of Class Represented by Amount in Row (9)
0%
based on 21,349,058 shares outstanding as of November 6,
2009.
|
|||
|
12.
|
Type
of Reporting Person:
IN/HC
|
|||
Schedule
13G/A
|
CUSIP
No.: 911805109
|
Page 4
of 9 Pages
|
|
Item
1(a).
|
Name
of Issuer:
|
U.S.
Energy Corp. (the “Issuer”)
|
Item
1(b).
|
Address of Issuer’s Principal Executive
Offices:
|
877 North
8th West, Riverton, WY 82501.
|
Item
2(a).
|
Name
of Person Filing
|
This
Statement is filed on behalf of each of the following persons (collectively, the
"Reporting Persons"):
i)
Corriente Advisors, LLC (“Corriente Advisors”); and
ii) Mark
L. Hart III. (“Mr. Hart”).
This
Statement relates to Shares (as defined herein) held for the accounts each of
Corriente Advisors, LLC, a Delaware limited liability company, and Mark L. Hart
III. Corriente Advisors acts as an investment adviser to, and manages investment
and trading accounts of, other persons, including Corriente Master Fund, L.P.
Corriente Advisors may be deemed, through investment advisory contracts or
otherwise, to beneficially own securities owned by other persons, including
Corriente Master Fund. Mr. Hart is the Chairman and Chief Executive Officer of
Corriente Advisors and may be deemed to control Corriente Advisors and
beneficially own securities owned by Corriente Advisors.
Each
Reporting Person declares that neither the filing of this statement nor anything
herein shall be construed as an admission that such person is, for the purposes
of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner
of any securities covered by this statement.
Each
Reporting Person may be deemed to be a member of a group with respect to the
issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of
the Act. Each Reporting Person declares that neither the filing of this
statement nor anything herein shall be construed as an admission that such
person is, for the purposes of Section 13(d) or 13(g) of the Act or any other
purpose, (i) acting (or has agreed or is agreeing to act) with any other person
as a partnership, limited partnership, syndicate, or other group for the purpose
of acquiring, holding, or disposing of securities of the issuer or otherwise
with respect to the issuer or any securities of the issuer or (ii) a member of
any syndicate or group with respect to the issuer or any securities of the
issuer.
|
Item
2(b).
|
Address
of Principal Business Office or, if None,
Residence:
|
The
address of the principal business office of each of Corriente Advisors and Mr.
Hart is 201 Main Street, Suite 1800, Fort Worth, Texas 76102.
|
Item
2(c).
|
Citizenship:
|
i)
Corriente Advisors is a Delaware limited liability company; and
ii) Mr.
Hart is a citizen of the United States of America.
Schedule
13G/A
|
CUSIP
No.: 911805109
|
Page 5
of 9 Pages
|
|
Item
2(d).
|
Title
of Class of Securities:
|
Common
Stock, $.01 par value per share (the “Shares”)
|
Item
2(e).
|
CUSIP
Number:
|
911805109
|
Item
3.
|
If
This Statement is Filed Pursuant to §§240.13d-1(b) or 240.13d-2(b) or
(c),
Check
Whether the Person Filing is a:
|
This Item
3 is not applicable.
|
Item
4.
|
Ownership:
|
|
Item
4(a)
|
Amount
Beneficially Owned:
|
As of
December 31, 2009, each of Corriente Advisors and Mr. Hart may be deemed to
be the beneficial owner of 0 Shares.
|
Item
4(b)
|
Percent
of Class:
|
The
number of Shares of which each of Corriente Advisors and Mr. Hart may be deemed
to be the beneficial owner constitutes approximately 0% of the total number of
Shares outstanding (based upon information provided by the Issuer in its most
recently-filed annual report on Form 10-Q, there were 21,349,058 shares
outstanding as of November 6, 2009).
|
Item
4(c)
|
Number
of Shares of which such person has:
|
|
Corriente
Advisors and Mr. Hart:
|
||
|
(i)
Sole power to vote or direct the vote:
|
0
|
|
|
(ii)
Shared power to vote or direct the vote:
|
0
|
|
|
(iii)
Sole power to dispose or direct the disposition of:
|
0
|
|
|
(iv)
Shared power to dispose or direct the disposition of:
|
0
|
|
|
Item
5.
|
Ownership
of Five Percent or Less of a Class:
|
If this
statement is being filed to report the fact that as of the date hereof the
Reporting Persons have ceased to be the beneficial owner of more than five
percent of the class of securities, check the following /X/.
Schedule
13G/A
|
CUSIP
No.: 911805109
|
Page 6
of 9 Pages
|
|
Item
6.
|
Ownership
of More than Five Percent on Behalf of Another
Person:
|
Corriente
Master Fund, L.P. is known to have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, the securities
covered by this statement that may be deemed to be beneficially owned by the
reporting persons.
|
Item
7.
|
Identification
and Classification of the Subsidiary Which Acquired the Security Being
Reported on By the Parent Holding
Company:
|
See
disclosure in Item 2 hereof.
|
Item
8.
|
Identification
and Classification of Members of the
Group:
|
Each
Reporting Person may be deemed to be a member of a group with respect to the
issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of
the Act. Each Reporting Person declares that neither the filing of this
statement nor anything herein shall be construed as an admission that such
person is, for the purposes of Section 13(d) or 13(g) of the Act or any other
purpose, (i) acting (or has agreed or is agreeing to act) with any other person
as a partnership, limited partnership, syndicate, or other group for the purpose
of acquiring, holding, or disposing of securities of the issuer or otherwise
with respect to the issuer or any securities of the issuer or (ii) a member of
any syndicate or group with respect to the issuer or any securities of the
issuer.
|
Item
9.
|
Notice
of Dissolution of Group:
|
Each
reporting person may be deemed to be a member of a group with respect to the
issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of
the Act. Each reporting person declares that neither the filing of this
statement nor anything herein shall be construed as an admission that such
person is, for the purposes of Section 13(d) or 13(g) of the Act or any other
purpose, (i) acting (or has agreed or is agreeing to act) with any other person
as a partnership, limited partnership, syndicate, or other group for the purpose
of acquiring, holding, or disposing of securities of the issuer or otherwise
with respect to the issuer or any securities of the issuer or (ii) a member of
any syndicate or group with respect to the issuer or any securities of the
issuer.
|
Item
10.
|
Certification:
|
By
signing below each of the Reporting Persons certifies that, to the best of their
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 the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
Schedule
13G/A
|
CUSIP
No.: 911805109
|
Page 7
of 9 Pages
|
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.
|
Date:
February 16, 2010
|
CORRIENTE
ADVISORS, LLC
|
|
|
By:
/s/
James E. Haddaway
|
||
|
Name:
James E. Haddaway
|
||
|
Title: President
|
||
|
Date: February 16,
2010
|
MARK
L. HART III
|
|
|
/s/ Mark L Hart III
|
||
|
Name: Mark
L. Hart III
|
||
| Title: Chairman and Chief Executive Officer | ||
Schedule
13G/A
|
CUSIP
No.: 911805109
|
Page 8
of 9 Pages
|
EXHIBIT
INDEX
|
Ex.
|
Page
No.
|
|
|
A
|
Joint
Filing Agreement, dated February 16, 2010 by and among Corriente
Advisors, LLC and Mark L. Hart III
|
9
|
Schedule
13G/A
|
CUSIP
No.: 911805109
|
Page 9
of 9 Pages
|
EXHIBIT
A
JOINT
FILING AGREEMENT
Pursuant
to and in accordance with the Securities Exchange Act of 1934, as amended, and
the rules and regulations thereunder, each party hereto hereby agrees to the
joint filing, on behalf of each of them, of any filing required by such party
under Section 13 or Section 16 of the Exchange Act or any rule or regulation
thereunder (including any amendment, restatement, supplement, and/or exhibit
thereto) with the Securities and Exchange Commission (and, if such security is
registered on a national securities exchange, also with the exchange), and
further agrees to the filing, furnishing, and/or incorporation by reference of
this agreement as an exhibit thereto. This agreement shall remain in full force
and effect until revoked by any party hereto in a signed writing provided to
each other party hereto, and then only with respect to such revoking
party.
IN
WITNESS WHEREOF, each party hereto, being duly authorized, has caused this
agreement to be executed and effective as of the date first written
above.
|
Date:
February 16, 2010
|
CORRIENTE
ADVISORS, LLC
|
|
|
By: /s/
James E. Haddaway
|
||
|
Name:
James E. Haddaway
|
||
|
Title: President
|
||
|
Date: February 16,
2010
|
MARK
L. HART III
|
|
|
/s/ Mark L Hart III
|
||
|
Name: Mark
L. Hart III
|
||
| Title: Chairman and Chief Executive Officer | ||