SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(a), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(a)
(Amendment No.3)(1)
Tidelands Oil & Gas Corp.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
886405109
--------------------------------------------------------------------------------
(CUSIP Number)
Robert S. May
6305 Waterford Blvd., Suite 300
Oklahoma City, Oklahoma 73118
(405) 858-9800
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
--------------------------------------------------------------------------------
May 9, 2005
--------------------------------------------------------------------------------
(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.
---------------------------
(1) 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 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.: 886405109 13D
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Impact International, L.L.C.
EIN: 05-0564752
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Oklahoma
--------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 1,739,480 shares and a
BENEFICIALLY OWNED BY warrant to purchase
EACH REPORTING 7,500,000 shares
PERSON WITH --------------------------------------------------------
8. SHARED VOTING POWER
--------------------------------------------------------
9. SOLE DISPOSITIVE POWER 1,739,480 shares and a
warrant to purchase
7,500,000 shares
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,739,480 shares and a
EACH REPORTING PERSON warrant to purchase
7,500,000 shares
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 Up to 14.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO
--------------------------------------------------------------------------------
CUSIP No.: 886405109 13D
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Ramiiilaj, A Limited Partnership
EIN: 73-1541715
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Texas
--------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 1,739,480 shares and a
BENEFICIALLY OWNED BY warrant to purchase
EACH REPORTING 7,500,000 shares
PERSON WITH --------------------------------------------------------
8. SHARED VOTING POWER
--------------------------------------------------------
9. SOLE DISPOSITIVE POWER 1,739,480 shares and a
warrant to purchase
7,500,000 shares
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,739,480 shares and a
EACH REPORTING PERSON warrant to purchase
7,500,000 shares
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 Up to 14.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
--------------------------------------------------------------------------------
CUSIP No.: 886405109 13D
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Hefner Investment Company
EIN: 73-1541717
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Texas
--------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 1,739,480 shares and a
BENEFICIALLY OWNED BY warrant to purchase
EACH REPORTING 7,500,000 shares
PERSON WITH --------------------------------------------------------
8. SHARED VOTING POWER
--------------------------------------------------------
9. SOLE DISPOSITIVE POWER 1,739,480 shares and a
warrant to purchase
7,500,000 shares
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,739,480 shares and a
EACH REPORTING PERSON warrant to purchase
7,500,000 shares
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 Up to 14.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
CUSIP No.: 886405109 13D
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Robert A. Hefner III
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 1,739,480 shares and a
BENEFICIALLY OWNED BY warrant to purchase
EACH REPORTING 7,500,000 shares
PERSON WITH --------------------------------------------------------
8. SHARED VOTING POWER
--------------------------------------------------------
9. SOLE DISPOSITIVE POWER 1,739,480 shares and a
warrant to purchase
7,500,000 shares
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,739,480 shares and a
EACH REPORTING PERSON warrant to purchase
7,500,000 shares
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 Up to 14.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
--------------------------------------------------------------------------------
CUSIP No.: 886405109 13D
--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Robert S. May
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS OO
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF SHARES 7. SOLE VOTING POWER 1,739,480 shares and a
BENEFICIALLY OWNED BY warrant to purchase
EACH REPORTING 7,500,000 shares
PERSON WITH --------------------------------------------------------
8. SHARED VOTING POWER
--------------------------------------------------------
9. SOLE DISPOSITIVE POWER 1,739,480 shares and a
warrant to purchase
7,500,000 shares
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 1,739,480 shares and a
EACH REPORTING PERSON warrant to purchase
7,500,000 shares
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 Up to 14.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
--------------------------------------------------------------------------------
Item 1. Security and Issuer.
This Schedule 13D relates to common stock ("Common Stock") of Tidelands
Oil & Gas Corporation, a Nevada corporation (the "Issuer"), including the Common
Stock that Impact International, L.L.C. ("Impact") currently has the right to
acquire immediately upon the exercise of a warrant issued April 26, 2003, and
amended on May 26, 2004 (the "Warrant"), to purchase 7,500,000 shares of Common
Stock at an exercise price of $0.335 per share.
Item 2. Identity and Background.
No change.
Item 3. Source and Amount of Funds or Other Consideration.
No change.
Item 4. Purpose of Transaction.
No change.
Item 5. Interest in Securities of the Issuer.
(a) As of May 9, 2005, Impact owned an aggregate principal amount
of 1,739,480 shares of the Issuer's Common Stock and a Warrant
to purchase an additional 7,500,000 shares of the Issuer's
Common Stock. Although the Manager, General Partner, Robert A.
Hefner III and Robert S. May may be deemed to be beneficial
owners of the Common Stock and the Warrant under Section 13 of
the Securities Exchange Act of 1934, as amended, by reason of
their position with Impact, the Manager or the General Partner
each disclaims any such beneficial ownership.
(b) Impact has the sole power to direct the disposition and direct
the vote of all 1,739,480 shares of Common Stock which it owns
and all 7,500,000 shares of Common Stock into which the Warrant
is convertible.
(c) Impact has effected no transactions in the Issuer's Common Stock
in the last sixty (60) days.
(d) None.
(e) None.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
No change.
Item 7. Materials to be Filed as Exhibits.
99 Joint Filing Statement
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.
IMPACT INTERNATIONAL, L.L.C.
By: Ramiiilaj, A Limited Partnership, Manager
By: Hefner Investment Company,
General Partner
By: ROBERT S. MAY
Robert S. May, Vice President