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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 10549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
CANADIAN SUPERIOR ENERGY INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
136644101
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(CUSIP Number)
DECEMBER 31, 2005
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(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).
Page 1 of 10 pages
Cusip No. 136644101
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
1346049 Ontario Limited
I.R.S. Identification No. - Not applicable
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [_]
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3. SEC Use Only
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4. Citizenship or Place of Organization.
Ontario, Canada
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5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares Benefi- 6. Shared Voting Power
cially Owned 1,800
by Each -------------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: 0
-------------------------------------------------------------
8. Shared Dispositive Power
1,800
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,245,586*
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [_]
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11. Percent of Class Represented by Amount in Row (9).
6.2%
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12. Type of Reporting Person (See Instructions)
HC
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----------
* See Item 4 below.
Page 2 of 10 pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Strategic Advisors Corp.
I.R.S. Identification No. - Not applicable
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization.
Ontario, Canada
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5. Sole Voting Power
4,906,986
Number of -------------------------------------------------------------
Shares Benefi- 6. Shared Voting Power
cially Owned 0
by Each -------------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: 4,906,986
-------------------------------------------------------------
8. Shared Dispositive Power
0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,245,586*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9).
6.2%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
IA
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----------
* See Item 4 below.
Page 3 of 10 pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Strategic Capital Partners Inc.
I.R.S. Identification No. - Not applicable
-------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [_]
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3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization.
Ontario, Canada
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5. Sole Voting Power
2,210,700
Number of -------------------------------------------------------------
Shares Benefi- 6. Shared Voting Power
cially Owned 0
by Each -------------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: 2,210,700
-------------------------------------------------------------
8. Shared Dispositive Power
0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,245,586*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9).
6.2%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
BD
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----------
* See Item 4 below.
Page 4 of 10 pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Randall Abramson
I.R.S. Identification No. - Not applicable
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [_]
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3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization.
Canada
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5. Sole Voting Power
126,100
Number of -------------------------------------------------------------
Shares Benefi- 6. Shared Voting Power
cially Owned 1,800
by Each -------------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: 126,100
-------------------------------------------------------------
8. Shared Dispositive Power
1,800
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,245,586*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9).
6.2%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions)
HC
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----------
See Item 4 below.
Page 5 of 10 pages
ITEM 1.
(a) NAME OF ISSUER:
Canadian Superior Energy Inc.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
400 3rd Avenue SW
Suite 3300
Calgary, Alberta CN T2P 4H2
ITEM 2.
(a) NAMES OF PERSONS FILING:
This joint filing statement is being filed by 1346049 Ontario Limited
("Holdco"); Strategic Advisors Corp. ("SAC"); Strategic Capital
Partners Inc. ("SCPI"); Randall Abramson ("Abramson"); and the group
the above-named persons comprise. Holdco, SAC, SCPI, Abramson and the
group they comprise are each sometimes referred to as a Reporting
Person and, collectively, referred to as Reporting Persons. Holdco is
a parent holding company for its operating subsidiaries, SCPI and SAC.
SAC is a Canadian investment adviser and is also registered as an
investment adviser under the Investment Advisers Act of 1940, as
amended. SCPI is a Canadian investment dealer. Abramson serves as
Director, Chief Executive Officer, President, Secretary and Treasurer
of Holdco; Director, Chief Executive Officer, Secretary, Treasurer and
Portfolio Manager of SAC; and Director, President, Portfolio Manager
and Compliance Officer of SCPI. Holdco owns 100% of the outstanding
voting stock of SCPI, and 75% of the outstanding voting stock of SAC.
Abramson owns 82% of the outstanding capital stock of Holdco.
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The business address for Holdco, SCPI and Abramson is 1303 Yonge
Street, Suite 101, Toronto, Ontario, Canada M4T 2Y9. The business
address for SAC is 1311 Yonge Street, Toronto, Ontario, Canada M4T
3B6.
(c) CITIZENSHIP:
See Item 4 of the cover sheet for each Reporting Person.
(d) TITLE OF CLASS OF SECURITIES:
Common Stock, no par value
Page 6 of 10 pages
(e) CUSIP NUMBER:
136644101
ITEM 3. NA
ITEM 4. OWNERSHIP
(a)-(c) The responses of the Reporting Persons to items 5 through 11
on the cover pages are incorporated herein by reference. Since
Abramson, Holdco, SAC and SCPI comprise a "group" within the meaning
of Section 13(d)(3) of the Exchange Act of 1934, as amended, each
Reporting Person is reporting beneficial ownership in accordance with
Exchange Act Rule 13d-5(a). As of the close of business on December
31, 2005, the Reporting Persons' beneficial ownership of Common Stock
was 7,245,586 shares (including warrants exercisable into 500,000
common shares). Of this amount, 126,100 shares of Common Stock were
held by Abramson directly (including 5,500 shares owned by Abramson's
spouse); 1,800 shares of Common Stock were held by Holdco directly;
2,210,700 shares of Common Stock (including warrants exercisable into
115,600 common shares) were owned by advisory clients of SCPI and held
in accounts managed by SCPI and 4,906,986 shares of Common Stock
(including warrants exercisable into 384,400 common shares) were owned
by advisory clients of SAC and held in accounts managed by SAC.
Abramson exercises sole voting and dispositive power over shares held
directly by him and shared voting and dispositive power over shares
held by Holdco. Holdco exercises shared voting and dispositive power
over the shares held by it. SAC exercises sole voting and dispositive
power over the shares held in discretionary investment accounts
managed by it. SCPI exercises sole voting and dispositive power over
the shares held in discretionary investment accounts managed by it.
The Reporting Persons disclaim beneficial ownership in shares of
Common Stock owned by the directors and officers of the Reporting
Persons (except to the extent that shares are held in discretionary
investment accounts managed by SAC and SCPI).
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 person has ceased to be the beneficial owner
of more than five percent of the class of securities, check the
following [_].
Page 7 of 10 pages
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
The clients of SAC and SCPI have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale
of, a portion of the shares beneficially owned by the Reporting
Persons. No individual clients' holdings of such shares are more than
five percent of the Issuer's total outstanding Common Stock.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
See Items 2(a) and 4 above.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
A group has filed this schedule pursuant to Rule 13d-1(c). See Exhibit
1, which states the identity of each member of the group.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
NA
ITEM 10. CERTIFICATION
(a) NA
(b) By signing below I certify that, to the best of my 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.
Page 8 of 10 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: January 20, 2006
1346049 ONTARIO LIMITED
By: /S/ Randall Abramson
------------------------
Name: Randall Abramson
Title: Chief Executive Officer
STRATEGIC ADVISORS CORP.
By: /S/ Randall Abramson
------------------------
Name: Randall Abramson
Title: Chief Executive Officer
STRATEGIC CAPITAL PARTNERS, INC.
By: /S/ Randall Abramson
------------------------
Name: Randall Abramson
Title: President
/S/ Randall Abramson
--------------------
Randall Abramson
Page 9 of 10 pages
EXHIBIT 1
The members of the group filing this Schedule 13G are:
1. 1346049 Ontario Limited
2. Strategic Advisors Corp.
3. Strategic Capital Partners Inc.
4. Randall Abramson
Page 10 of 10 pages