SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 10)
The Louisiana Land and Exploration Company
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(Name of Issuer)
Shares of Common Stock
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(Title of Class of Securities)
546268103
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(CUSIP Number)
Michael S. Paquette
Vice President and Controller
Fund American Enterprises Holdings, Inc.
The 1820 House,
Main Street,
Norwich, Vermont 05055-0850
(802) 649-3633
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 31, 1996
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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 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 this 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.
CUSIP NO. 546268103
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(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises Holdings, Inc.
94-2708455
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(2) Check the Appropriate Box if a Member (a) _______________________
of a Group (See Instructions)
(b) _______________________
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(3) (SEC Use Only)
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(4) Source of Funds (See Instructions) N/A (See Item 3.)
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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(6) Citizenship or Place of Organization Delaware
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Number of Shares (7) Sole Voting Power
Beneficially Owned ----------------------
by Each Reporting 0
Person With (8) Shared Voting Power
----------------------
838,100
(9) Sole Dispositive Power
----------------------
0
(10) Shared Dispositive Power
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838,100
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 838,100
Shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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(13) Percent of Class Represented by Amount in Row (11) Approximately 2.5%
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(14) Type of Reporting Person (See Instructions) HC, CO
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CUSIP NO. 546268103
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(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises, Inc.
51-0328932
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(2) Check the Appropriate Box if a Member (a) _______________________
of a Group (See Instructions)
(b) _______________________
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(3) (SEC Use Only)
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(4) Source of Funds (See Instructions) N/A (See Item 3.)
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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(6) Citizenship or Place of Organization Delaware
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Number of Shares (7) Sole Voting Power
Beneficially Owned ----------------------
by Each Reporting
Person With (8) Shared Voting Power
----------------------
596,565
(9) Sole Dispositive Power
----------------------
(10) Shared Dispositive Power
------------------------
596,565
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 596,565
Shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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(13) Percent of Class Represented by Amount in Row (11) Approximately 1.8%
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(14) Type of Reporting Person (See Instructions) CO
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CUSIP NO. 546268103
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(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
FFOG, Inc.
51-0301710
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(2) Check the Appropriate Box if a Member (a) _______________________
of a Group (See Instructions)
(b) _______________________
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(3) (SEC Use Only)
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(4) Source of Funds (See Instructions) N/A (See Item 3.)
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
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(6) Citizenship or Place of Organization Delaware
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Number of Shares (7) Sole Voting Power
Beneficially Owned ----------------------
by Each Reporting
Person With (8) Shared Voting Power
----------------------
138,135
(9) Sole Dispositive Power
----------------------
(10) Shared Dispositive Power
------------------------
138,135
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 138,135
Shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
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(13) Percent of Class Represented by Amount in Row (11) .4%
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(14) Type of Reporting Person (See Instructions) CO
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ONLY ITEMS REPORTED IN THIS AMENDMENT NO. 10 TO SCHEDULE 13D ARE AMENDED FROM
THE FILING ON SCHEDULE 13D ("THE SCHEDULE 13D") WITH THE SECURITIES AND EXCHANGE
COMMISSION, AS SUBSEQUENTLY AMENDED. ALL OTHER ITEMS REMAIN UNCHANGED. UNLESS
OTHERWISE SPECIFIED, ALL DEFINED TERMS USED HEREIN HAVE THE MEANING PREVIOUSLY
ASCRIBED TO THEM IN THE SCHEDULE 13D.
Item 3. Source and Amount of Funds or Other Consideration.
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On December 26, 1995, FFOG transferred 103,400 Shares to FAEH at $40.625
per Share. FAEH subsequently transferred 103,400 Shares to certain of its
direct and indirect wholly-owned subsidiaries on December 26, 1995 at $40.625
per Share.
Item 4. Purpose of Transaction.
-----------------------
As previously disclosed in FAEH's Schedule 13D, FAEH sent a letter dated
November 15, 1995 (the "November 15 Letter") to H. Leighton Steward, the
Chairman and Chief Executive Officer of the Issuer, in which FAEH requested that
the Issuer add three designees of FAEH to management's nominees for election as
directors at the Issuer's annual meeting of stockholders in May 1996. Following
the delivery of the November 15 Letter, FAEH and the Issuer have had a number of
discussions concerning FAEH's request for representation on the Issuer's board.
Specifically, in recent weeks, FAEH and the Issuer have been discussing the
possibility of having some representatives of FAEH be included in the Issuer's
slate of nominees for directors at its upcoming annual meeting.
As a result of the sales reported in Item 5 below, FAEH has notified the
Issuer that FAEH has withdrawn its request for board representation. In
addition, as a result of such sales, the Reporting Persons no longer have any
present plans or proposals that relate to or would result in any of the actions
described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
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Sales by FAEH and certain of its direct and indirect wholly-owned
subsidiaries, FAE and FFOG outlined in Schedule II, attached hereto, and
incorporated herein by reference, were made in the ordinary course of business
and not for the purpose or effect of changing or influencing the control of LLX
or in connection with, or as a participant in, any transaction having such
purpose or effect.
Item 5. Interest in Securities of the Issuer.
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(a) FAEH owns 0 Shares directly, and 596,565 Shares, 138,135 Shares and
103,400 Shares indirectly, through FAE, FFOG and certain of FAEH's direct and
indirect wholly-owned subsidiaries, respectively. The aggregate number of
Shares and the corresponding percentage of the outstanding Shares such number
represents is as follows:
Percentage of
Shares Shares
Beneficially Beneficially
Person Owned Owned
- ------ ------------ ------------
FAEH * 103,400 .3%
FAE 596,565 1.8%
FFOG 138,135 .4%
* FAEH and certain of its direct and indirect wholly-owned subsidiaries
(b) FAEH has sole voting power and dispositive power with respect to
0 Shares and shares voting power and dispositive power with respect to 596,565
Shares with FAE, 138,135 Shares with FFOG and 103,400 Shares with certain of
FAEH's direct and indirect wholly-owned subsidiaries. The persons on Schedule I
listed above have sole voting power and dispositive power with respect to Shares
individually owned by them respectively.
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(c) Schedule II, attached hereto and incorporated herein by
reference, describes all transactions by FAEH and certain of its direct and
indirect wholly-owned subsidiaries, FAE and FFOG, or to the best knowledge of
FAEH, FAE and FFOG, any of the persons listed on Schedule I, in Shares effected
during the past 60 days.
(d) None
(e) As of February 1, 1996, FAEH and certain of its direct and
indirect wholly-owned subsidiaries, FAE and FFOG ceased to be the beneficial
owners of more than five percent of the outstanding Shares of LLX.
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SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief
of the undersigned, the undersigned certifies that the information set forth in
this statement is true, complete and correct.
Dated: February 2, 1996
FUND AMERICAN ENTERPRISES HOLDINGS, INC.
BY:
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Name: Michael S. Paquette
Title: Vice President and
Controller
FFOG, INC.
BY:
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Name: Michael S. Paquette
Title: Vice President and Secretary
FUND AMERICAN ENTERPRISES, INC.
BY:
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Name: Terry L. Baxter
Title: President and Secretary
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SCHEDULE II TO SCHEDULE 13D
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Sales of Shares of Common Stock of LLX by the Reporting Persons and by
persons listed in Schedule I within the last 60 days.
Sold By Date Number Sold Unit Price
------- ---- ----------- ----------
FFOG 1/31/96 1,100,000 $42.000
FFOG 2/1/96 900,000 $42.500
FFOG 2/2/96 49,500 $43.000
FFOG 2/2/96 6,000 $43.125
FFOG 2/2/96 5,000 $43.250
FFOG 2/2/96 10,500 $43.500
FFOG 2/2/96 19,000 $43.625
* By certain direct and indirect wholly-owned subsidiaries of FAEH.
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