UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 1)*
Under the Securities Exchange Act of 1934
ALLIS-CHALMERS ENERGY INC.
--------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
---------------------------------------
(Title of Class of Securities)
019645407
---------
(CUSIP Number)
Seth R. Molay
Akin, Gump, Strauss, Hauer & Feld, L.L.P.
1700 Pacific Avenue, Suite 4100
Dallas, Texas 75201
(214) 969-4780
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 14, 2008
-----------------
(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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-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 ss.240.13d-7 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 ("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 page(s)
Page 1 of 11 Pages
Exhibit Index: Page 6
CUSIP No. 019645407 Page 2 of 11 Pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Alejandro Pedro Bulgheroni
2 Check the Appropriate Box If a Member of a Group (See Instructions)
a. [ ]
b. [X]
3 SEC Use Only
4 Source of Funds (See Instructions)
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
Argentina/Italy
7 Sole Voting Power
Number of 1,960,896
Shares
Beneficially 8 Shared Voting Power
Owned By 0
Each
Reporting 9 Sole Dispositive Power
Person 1,960,896
With
10 Shared Dispositive Power
0
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,960,896
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
[ ]
13 Percent of Class Represented By Amount in Row (11)
5.6%
14 Type of Reporting Person (See Instructions)
IN
CUSIP No. 019645407 Page 3 of 11 Pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Associated Petroleum Investors Ltd.
2 Check the Appropriate Box If a Member of a Group (See Instructions)
a. [ ]
b. [X]
3 SEC Use Only
4 Source of Funds (See Instructions)
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
British Virgin Islands
7 Sole Voting Power
Number of 1,953,896
Shares
Beneficially 8 Shared Voting Power
Owned By 0
Each
Reporting 9 Sole Dispositive Power
Person 1,953,896
With
10 Shared Dispositive Power
0
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,953,896
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
[ ]
13 Percent of Class Represented By Amount in Row (11)
5.6%
14 Type of Reporting Person (See Instructions)
CO
CUSIP No. 019645407 Page 4 of 11 Pages
This Amendment No. 1 to Schedule 13D relates to shares of common stock, par
value $0.01 per share (the "Shares"), of Allis-Chambers Energy Inc., a Delaware
corporation (the "Issuer"). This Amendment No. 1 supplementally amends the
initial statement on Schedule 13D, dated August 24, 2006 (the "Initial
Statement"), filed by the Reporting Persons. Capitalized terms used but not
defined herein shall have the meanings ascribed to them in the Initial
Statement. The Initial Statement is supplementally amended as follows to report
the acquisition of additional Shares by the Reporting Persons.
Item 3. Source and Amount of Funds or Other Consideration.
The source of funds for the acquisition reported in this
Amendment No. 1 was the working capital of the Reporting Persons. The total
purchase price for the Shares was $5,250,951.95.
Item 4. Purpose of Transaction.
The Shares were acquired in the ordinary course of business
and were not acquired with the purpose or intent of changing or influencing the
control of the Issuer.
Item 5. Interest in Securities of the Issuer.
(a) (i) As of October 31, 2007, the number of Shares
outstanding was 35,049,245 according to the Issuer's Form 10-Q filed on November
6, 2007. As of the Date of Event, Mr. Bulgheroni may be deemed the beneficial
owner of 1,960,896 Shares (approximately 5.6% of the total number of Shares
outstanding). This number includes (A) 7,000 Shares held for the benefit of Mr.
Bulgheroni; (B) 953,896 Shares held for the account of API; and (C) 1,000,000
Shares held for the account of Global Oilfield Holdings Ltd (formerly Bridas
International Holdings Limited) ("Global").
(ii) As of the Date of Event, API may be deemed the
beneficial owner of 1,953,896 Shares (approximately 5.6% of the total number of
Shares outstanding). This number includes (A) 953,896 Shares held for the
account of API; and (B) 1,000,000 Shares held for the account of Global.
(b) (i) As of the Date of Event, Mr. Bulgheroni (as a result
of his positions with API and Global) may be deemed to have the sole power to
direct the voting and disposition of 1,960,896 Shares. This number includes (A)
7,000 Shares held for the benefit of Mr. Bulgheroni; (B) 953,896 Shares held for
the account of API; and (C) 1,000,000 Shares held for the account of Global.
(ii) As of the Date of Event, API (by virtue of its
ownership of Global) may be deemed to have the sole power to direct the voting
and disposition of 1,953,896 Shares. This number includes (A) 953,896 Shares
held for the account of API; and (B) 1,000,000 Shares held for the account of
Global.
(c) The trading dates, number of shares sold and price per
share for all transactions in the Shares by the Reporting Persons during the
past 60 days are set forth in Exhibit A attached hereto.
(d) Global has the right to participate in the receipt of
dividends from, or proceeds from the sale of, the securities held for its
account.
(e) Not applicable.
Item 7. Material to be Filed as Exhibits.
Exhibit A - Schedule of transactions effected during the last
60 days.
CUSIP No. 019645407 Page 5 of 11 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: February 19, 2008 ASSOCIATED PETROLEUM INVESTORS LTD.
By: /s/ Alejandro Pedro Bulgheroni
--------------------------------------
Name: Alejandro Pedro Bulgheroni
Title: President
Date: February 19, 2008 ALEJANDRO PEDRO BULGHERONI
/s/ Alejandro Pedro Bulgheroni
----------------------------------------------
CUSIP No. 019645407 Page 6 of 11 Pages
EXHIBIT INDEX
Page No.
--------
A. Schedule of transactions effected during the last 60 days............... 7
CUSIP No. 019645407 Page 7 of 11 Pages
EXHIBIT A
RECENT TRANSACTIONS IN THE SECURITIES OF
ALLIS-CHALMERS ENERGY INC.
The following transactions were effected on the New York Stock Exchange:
For the Date of Number Price Nature of
Account of Transaction of Shares per Share Transaction
---------- ----------- --------- --------- -----------
--------------------------------------------------------------------------------
API 2/11/08 300 $9.7700 BUY
--------------------------------------------------------------------------------
API 2/11/08 500 $9.8100 BUY
--------------------------------------------------------------------------------
API 2/11/08 700 $9.8400 BUY
--------------------------------------------------------------------------------
API 2/11/08 612 $9.8500 BUY
--------------------------------------------------------------------------------
API 2/11/08 400 $9.8580 BUY
--------------------------------------------------------------------------------
API 2/11/08 1,581 $9.8600 BUY
--------------------------------------------------------------------------------
API 2/11/08 4,243 $9.8700 BUY
--------------------------------------------------------------------------------
API 2/11/08 300 $9.8790 BUY
--------------------------------------------------------------------------------
API 2/11/08 800 $9.8800 BUY
--------------------------------------------------------------------------------
API 2/11/08 500 $9.8880 BUY
--------------------------------------------------------------------------------
API 2/11/08 8,300 $9.8900 BUY
--------------------------------------------------------------------------------
API 2/11/08 41,064 $9.9000 BUY
--------------------------------------------------------------------------------
API 2/11/08 2,096 $10.0000 BUY
--------------------------------------------------------------------------------
API 2/12/08 100 $10.3400 BUY
--------------------------------------------------------------------------------
API 2/12/08 400 $10.3500 BUY
--------------------------------------------------------------------------------
API 2/12/08 200 $10.3600 BUY
--------------------------------------------------------------------------------
API 2/12/08 1,800 $10.3900 BUY
--------------------------------------------------------------------------------
API 2/12/08 900 $10.4000 BUY
--------------------------------------------------------------------------------
API 2/12/08 200 $10.4400 BUY
--------------------------------------------------------------------------------
API 2/12/08 100 $10.5000 BUY
--------------------------------------------------------------------------------
API 2/12/08 100 $10.5100 BUY
--------------------------------------------------------------------------------
API 2/12/08 100 $10.5200 BUY
--------------------------------------------------------------------------------
API 2/12/08 400 $10.5400 BUY
--------------------------------------------------------------------------------
API 2/12/08 600 $10.5500 BUY
--------------------------------------------------------------------------------
API 2/12/08 1,200 $10.5700 BUY
--------------------------------------------------------------------------------
API 2/12/08 100 $10.5800 BUY
--------------------------------------------------------------------------------
API 2/12/08 100 $10.5950 BUY
--------------------------------------------------------------------------------
API 2/12/08 31,205 $10.6000 BUY
--------------------------------------------------------------------------------
API 2/12/08 400 $10.6200 BUY
--------------------------------------------------------------------------------
API 2/12/08 174 $10.6285 BUY
--------------------------------------------------------------------------------
API 2/12/08 700 $10.6286 BUY
--------------------------------------------------------------------------------
API 2/12/08 400 $10.6300 BUY
--------------------------------------------------------------------------------
API 2/12/08 300 $10.6350 BUY
--------------------------------------------------------------------------------
API 2/12/08 1,100 $10.6400 BUY
--------------------------------------------------------------------------------
API 2/12/08 400 $10.6438 BUY
--------------------------------------------------------------------------------
CUSIP No. 019645407 Page 8 of 11 Pages
For the Date of Number Price Nature of
Account of Transaction of Shares per Share Transaction
---------- ----------- --------- --------- -----------
--------------------------------------------------------------------------------
API 2/12/08 44,026 $10.6500 BUY
--------------------------------------------------------------------------------
API 2/12/08 300 $10.7567 BUY
--------------------------------------------------------------------------------
API 2/12/08 700 $10.7600 BUY
--------------------------------------------------------------------------------
API 2/12/08 1,100 $10.7700 BUY
--------------------------------------------------------------------------------
API 2/12/08 1,300 $10.7885 BUY
--------------------------------------------------------------------------------
API 2/12/08 2,000 $10.7900 BUY
--------------------------------------------------------------------------------
API 2/12/08 10,695 $10.8000 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.6200 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.6300 BUY
--------------------------------------------------------------------------------
API 2/13/08 300 $11.6400 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.6500 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.6600 BUY
--------------------------------------------------------------------------------
API 2/13/08 900 $11.6700 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.6800 BUY
--------------------------------------------------------------------------------
API 2/13/08 600 $11.7000 BUY
--------------------------------------------------------------------------------
API 2/13/08 1,000 $11.7100 BUY
--------------------------------------------------------------------------------
API 2/13/08 700 $11.7200 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.7300 BUY
--------------------------------------------------------------------------------
API 2/13/08 200 $11.7350 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.7590 BUY
--------------------------------------------------------------------------------
API 2/13/08 200 $11.7990 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.8100 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.8300 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.8400 BUY
--------------------------------------------------------------------------------
API 2/13/08 200 $11.8500 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.8600 BUY
--------------------------------------------------------------------------------
API 2/13/08 300 $11.9100 BUY
--------------------------------------------------------------------------------
API 2/13/08 200 $11.9150 BUY
--------------------------------------------------------------------------------
API 2/13/08 400 $11.9200 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.9300 BUY
--------------------------------------------------------------------------------
API 2/13/08 200 $11.9700 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $11.9800 BUY
--------------------------------------------------------------------------------
API 2/13/08 25 $12.0000 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $12.0100 BUY
--------------------------------------------------------------------------------
API 2/13/08 200 $12.0200 BUY
--------------------------------------------------------------------------------
API 2/13/08 2,675 $12.0300 BUY
--------------------------------------------------------------------------------
API 2/13/08 6,100 $12.0400 BUY
--------------------------------------------------------------------------------
API 2/13/08 700 $12.0500 BUY
--------------------------------------------------------------------------------
CUSIP No. 019645407 Page 9 of 11 Pages
For the Date of Number Price Nature of
Account of Transaction of Shares per Share Transaction
---------- ----------- --------- --------- -----------
--------------------------------------------------------------------------------
API 2/13/08 600 $12.0600 BUY
--------------------------------------------------------------------------------
API 2/13/08 2,300 $12.0700 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $12.0800 BUY
--------------------------------------------------------------------------------
API 2/13/08 4,200 $12.0900 BUY
--------------------------------------------------------------------------------
API 2/13/08 6,400 $12.1000 BUY
--------------------------------------------------------------------------------
API 2/13/08 1,300 $12.1100 BUY
--------------------------------------------------------------------------------
API 2/13/08 100 $12.1300 BUY
--------------------------------------------------------------------------------
API 2/13/08 300 $12.1400 BUY
--------------------------------------------------------------------------------
API 2/13/08 2,100 $12.1500 BUY
--------------------------------------------------------------------------------
API 2/13/08 300 $12.1533 BUY
--------------------------------------------------------------------------------
API 2/13/08 6,200 $12.1600 BUY
--------------------------------------------------------------------------------
API 2/13/08 10,700 $12.1700 BUY
--------------------------------------------------------------------------------
API 2/13/08 200 $12.1780 BUY
--------------------------------------------------------------------------------
API 2/13/08 4,700 $12.1800 BUY
--------------------------------------------------------------------------------
API 2/13/08 4,500 $12.1900 BUY
--------------------------------------------------------------------------------
API 2/13/08 6,200 $12.2000 BUY
--------------------------------------------------------------------------------
API 2/13/08 6,400 $12.2100 BUY
--------------------------------------------------------------------------------
API 2/13/08 300 $12.2167 BUY
--------------------------------------------------------------------------------
API 2/13/08 9,200 $12.2200 BUY
--------------------------------------------------------------------------------
API 2/13/08 19,500 $12.2300 BUY
--------------------------------------------------------------------------------
API 2/13/08 800 $12.2338 BUY
--------------------------------------------------------------------------------
API 2/13/08 6,400 $12.2400 BUY
--------------------------------------------------------------------------------
API 2/13/08 6,000 $12.2500 BUY
--------------------------------------------------------------------------------
API 2/13/08 800 $12.2600 BUY
--------------------------------------------------------------------------------
API 2/13/08 1,100 $12.2682 BUY
--------------------------------------------------------------------------------
API 2/13/08 8,600 $12.2700 BUY
--------------------------------------------------------------------------------
API 2/13/08 300 $12.2800 BUY
--------------------------------------------------------------------------------
API 2/13/08 4,600 $12.2900 BUY
--------------------------------------------------------------------------------
API 2/13/08 12,000 $12.3000 BUY
--------------------------------------------------------------------------------
API 2/14/08 2,000 $12.0000 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,600 $12.0100 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,700 $12.0200 BUY
--------------------------------------------------------------------------------
API 2/14/08 600 $12.0300 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,590 $12.0500 BUY
--------------------------------------------------------------------------------
API 2/14/08 200 $12.0600 BUY
--------------------------------------------------------------------------------
API 2/14/08 500 $12.0800 BUY
--------------------------------------------------------------------------------
API 2/14/08 5,100 $12.1000 BUY
--------------------------------------------------------------------------------
API 2/14/08 300 $12.1033 BUY
--------------------------------------------------------------------------------
CUSIP No. 019645407 Page 10 of 11 Pages
For the Date of Number Price Nature of
Account of Transaction of Shares per Share Transaction
---------- ----------- --------- --------- -----------
--------------------------------------------------------------------------------
API 2/14/08 2,000 $12.1100 BUY
--------------------------------------------------------------------------------
API 2/14/08 2,700 $12.1200 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,200 $12.1300 BUY
--------------------------------------------------------------------------------
API 2/14/08 2,537 $12.1400 BUY
--------------------------------------------------------------------------------
API 2/14/08 600 $12.1450 BUY
--------------------------------------------------------------------------------
API 2/14/08 400 $12.1473 BUY
--------------------------------------------------------------------------------
API 2/14/08 698 $12.1486 BUY
--------------------------------------------------------------------------------
API 2/14/08 14,865 $12.1500 BUY
--------------------------------------------------------------------------------
API 2/14/08 100 $12.1550 BUY
--------------------------------------------------------------------------------
API 2/14/08 500 $12.1580 BUY
--------------------------------------------------------------------------------
API 2/14/08 8,900 $12.1600 BUY
--------------------------------------------------------------------------------
API 2/14/08 4,800 $12.1700 BUY
--------------------------------------------------------------------------------
API 2/14/08 100 $12.1750 BUY
--------------------------------------------------------------------------------
API 2/14/08 15,590 $12.1800 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,500 $12.1867 BUY
--------------------------------------------------------------------------------
API 2/14/08 6,310 $12.1900 BUY
--------------------------------------------------------------------------------
API 2/14/08 3,500 $12.2000 BUY
--------------------------------------------------------------------------------
API 2/14/08 3,610 $12.2100 BUY
--------------------------------------------------------------------------------
API 2/14/08 5,000 $12.2200 BUY
--------------------------------------------------------------------------------
API 2/14/08 900 $12.2400 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,800 $12.2500 BUY
--------------------------------------------------------------------------------
API 2/14/08 500 $12.2700 BUY
--------------------------------------------------------------------------------
API 2/14/08 400 $12.2800 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,200 $12.2896 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,600 $12.2900 BUY
--------------------------------------------------------------------------------
API 2/14/08 700 $12.3000 BUY
--------------------------------------------------------------------------------
API 2/14/08 600 $12.3100 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,500 $12.3200 BUY
--------------------------------------------------------------------------------
API 2/14/08 600 $12.3700 BUY
--------------------------------------------------------------------------------
API 2/14/08 500 $12.3740 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,200 $12.3800 BUY
--------------------------------------------------------------------------------
API 2/14/08 400 $12.3900 BUY
--------------------------------------------------------------------------------
API 2/14/08 800 $12.4100 BUY
--------------------------------------------------------------------------------
API 2/14/08 600 $12.4367 BUY
--------------------------------------------------------------------------------
API 2/14/08 200 $12.4400 BUY
--------------------------------------------------------------------------------
API 2/14/08 200 $12.4450 BUY
--------------------------------------------------------------------------------
API 2/14/08 400 $12.4500 BUY
--------------------------------------------------------------------------------
API 2/14/08 400 $12.4600 BUY
--------------------------------------------------------------------------------
CUSIP No. 019645407 Page 11 of 11 Pages
For the Date of Number Price Nature of
Account of Transaction of Shares per Share Transaction
---------- ----------- --------- --------- -----------
--------------------------------------------------------------------------------
API 2/14/08 400 $12.5100 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,100 $12.5200 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,800 $12.5300 BUY
--------------------------------------------------------------------------------
API 2/14/08 200 $12.5400 BUY
--------------------------------------------------------------------------------
API 2/14/08 3,700 $12.5500 BUY
--------------------------------------------------------------------------------
API 2/14/08 2,300 $12.5600 BUY
--------------------------------------------------------------------------------
API 2/14/08 5,800 $12.5700 BUY
--------------------------------------------------------------------------------
API 2/14/08 3,100 $12.5790 BUY
--------------------------------------------------------------------------------
API 2/14/08 5,100 $12.5800 BUY
--------------------------------------------------------------------------------
API 2/14/08 4,600 $12.5900 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,200 $12.5983 BUY
--------------------------------------------------------------------------------
API 2/14/08 9,200 $12.6000 BUY
--------------------------------------------------------------------------------
API 2/14/08 700 $12.6100 BUY
--------------------------------------------------------------------------------
API 2/14/08 400 $12.6200 BUY
--------------------------------------------------------------------------------
API 2/14/08 4,900 $12.6300 BUY
--------------------------------------------------------------------------------
API 2/14/08 1,400 $12.6400 BUY
--------------------------------------------------------------------------------