UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
__________
SCHEDULE
13D
(Rule
13d-101)
INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment
No. 4)
Teton
Energy Corporation
(Name of
Issuer)
Common
Stock par value $.001
(Title of
Class of Securities)
881628101
(CUSIP
Number)
Harris
I. Sufian, Esq.
FIRST
NEW YORK SECURITIES LLC
90
Park Avenue 5th
Floor
New
York, New York 10022
212-331-6853
(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
January
6, 2009
(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(e), 13d-1(f) or 13d-1(g), check the following
box: ¨
(Continued
on following pages)
Schedule
13D
Item
1. Security and Issuer.
This
Amendment No. 4 to Schedule 13D, is being filed by the undersigned to amend and
supplement the Statement on Schedule 13D filed by First New York Securities LLC
(“FNYS”), BATL Management LP (“BATL”) and Thomas F. Donino (“Mr. Donino” and
together the “Original Reporting Persons”), on June 6, 2007 (as amended by
Amendment No. 1, filed by the Original Reporting Persons and Lee Higgins (“Mr.
Higgins” and together with the Original Reporting Persons, the “Reporting
Persons”) on February 5, 2008, Amendment No. 2 filed by the Reporting Persons on
March 18, 2008, and Amendment No. 3 filed by the Reporting Persons on November
6, 2008, collectively the “Statement”), with respect to the common stock, par
value $0.001 (the “Common Stock”), of Teton Energy Corporation, a Delaware
company (the “Company”). The principal executive offices of the
Company are located at 410 17th Street,
Suite 1850, Denver, Colorado 80202.
Item
4. Purpose of Transaction.
The
information contained in Item 4 of the Statement is hereby amended and
supplemented as follows:
On
January 6, 2009, FNYS issued a press release containing a letter addressed to
the Board of Directors at Teton Energy Corporation announcing its intention to
pursue alternatives to achieve fair value for shareholders. A copy of
the press release is attached as Exhibit A hereto.
Item
7. Material to be Filed as Exhibits.
The information contained in Item 7 of
the Statement is hereby amended and supplemented as follows:
|
A.
|
Press
Release issued by FNYS dated January 6,
2009.
|
SIGNATURES
After
reasonable inquiry and to the best knowledge and belief of the undersigned, the
undersigned certifies that the information set forth in this Statement is true,
complete and correct.
Date: January
6, 2009
FIRST NEW YORK SECURITIES
L.L.C.
By: /s/ Harris I.
Sufian
Name:
Harris I. Sufian
Title:
Managing Member
BATL
MANAGEMENT LP
By: /s/ Thomas F.
Donino
Name:
Thomas F. Donino
Title:
Managing Partner
/s/ Thomas F.
Donino
Thomas F.
Donino
/s/ Lee
Higgins
Lee
Higgins
Exhibit A
PRESS
RELEASE
For
immediate release
|
|
Contact:
|
Thomas
Donino
|
|
|
(212)-848-0709
|
FIRST
NEW YORK SENDS LETTER TO TETON ENERGY CORPORATION, INTENDS TO PURSUE
ALTERNATIVES TO ACHIEVE FAIR VALUE FOR SHAREHOLDERS
NEW YORK,
NEW YORK, January 6, 2009/Business Wire/ - First New York Securities LLC, the
holder of approximately 7.1% of the outstanding shares of common stock of Teton
Energy Corporation (NASDAQ SYMBOL: TEC), today sent the following letter to the
Board of Directors at Teton Energy Corporation:
January
6, 2009
To the
Board of Directors:
Given the
events of 2008 and the lack of action taken by the company’s management, First
New York Securities, LLC is considering several plans to realize value for all
shareholders of Teton Energy Corporation. Divestitures recently
announced by several public energy companies suggest that the shareholders of
Teton Energy could realize significant value in a transaction with private
investors.
Teton has
a solid and diversified asset base, significant production, growth prospects,
valuable oil and gas hedges and tangible cash flow for which the public markets
fail to give anything close to reasonable value. We believe that this
combination of attributes would be highly attractive to better capitalized
private investors at a valuation far superior to the current market
capitalization.
We intend
to solicit, consider and support all options that we believe represent fair
value and proceed in a manner that benefits all shareholders.
Thomas
Donino
Partner