4 1 y41217e4.txt FORM 4 1 OMB APPROVAL ------------------------- OMB Number: 3235-0287 ------------------------- Expires: October 31, 2001 ------------------------- Estimated average burden hours per response...0.5 ------------------------- FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 [_] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). (Print or Type Responses) ________________________________________________________________________________ 1. Name and Address of Reporting Person* Coughlin Paul J -------------------------------------------------------------------------------- (Last) (First) (Middle) c/o CoMac Partners, L.P. 1, Greenwich Office Park -------------------------------------------------------------------------------- (Street) Greenwich CT 06831 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Southern Mineral Corporation (SMOP.OB) ________________________________________________________________________________ 3. IRS or Social Security Number of Reporting Person, if an entity (Voluntary) ________________________________________________________________________________ 4. Statement for Month/Year September, 2000 ________________________________________________________________________________ 5. If Amendment, Date of Original (Month/Year) ================================================================================ 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [x] Director [x] 10% Owner [_] Officer (give title below) [_] Other (specify below) ________________________________________________________________________________ 7. Individual or Joint/Group Filing (Check Applicable Line) [_] Form filed by One Reporting Person [X] Form filed by More than One Reporting Person ================================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ================================================================================

2 FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================

/s/ Paul J. Coughlin 10/10/00 --------------------------------------------- ----------------------- **Signature of Reporting Person Date Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 4(b)(v). ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. 2 of 2 3 Attachment to Form 4 Joint Filer Information Name: Christopher M. Mackey Address: 1 Greenwich Office Park Greenwich, CT 06831 Designated Filer: Paul J. Coughlin Issuer & Ticker Symbol: Southern Mineral Corporation (SMOP.OB) Date of Statement: September, 2000 Signature: By: /s/Christopher M. Mackey ------------------------- Page 3 of 6 4 Joint Filer Information Name: CoMac Advisers, Inc. Address: 1 Greenwich Office Park 3rd Floor Greenwich, CT 06831 Designated Filer: Paul J. Coughlin Issuer & Ticker Symbol: Southern Mineral Corporation (SMOP.OB) Date of Statement: September, 2000 Signature: COMAC ADVISERS, INC. By: /s/Paul J. Coughlin --------------------------- Name: Paul J. Coughlin Title: Authorized Signatory Page 4 of 6 5 Footnotes Designated Filer: Paul J. Coughlin Issuer and Ticker Symbol: Southern Mineral Corporation (SMOP.OB) Date of Statement: September, 2000 Footnotes 1. Transaction Code "J" indicates that the Securities were acquired pursuant to an expemption to Section 16(b) of the Exchange Act of 1934, because, they were acquired in good faith in connection with a debt previously contracted (6.875% Convertible Subordinated Debentures). On August 1, 2000, the Plan of Reorganization (the "Plan") of Southern Mineral Corporation (the "Company") became effective (the "Effective Date"). Pursuant to the Plan, Common Stock was issued to the holders of the Company's 6.875% Convertible Subordinated Debentures on September 13, 2000. In connection therewith, Common Shares ("Shares") of the Company were issued to Carol Ann Coughlin (Mr. Coughlin's spouse) and CoMac Partners, L.P., a Delaware limited partnership, CoMac Endowment Fund, L.P., a Delaware limited partnership, CoMac International N.V., a Netherlands Antilles corporation and CoMac Opportunities Fund, L.P., a Delaware limited partnership (collectively, the "Funds") in respect of the 6.875% Convertible Subordinated Debentures held by Ms. Coughlin and the Funds. See Notes (2)-- (8). Mr. Coughlin was also appointed to the Company's Board of Directors pursuant to the Plan. 2. Shares held by the Funds. See Notes (3)-- (7). Messrs. Coughlin and Mackey are executive officers, directors and shareholders of CoMac Advisers, Inc., a Delaware corporation ("Advisers Inc."), which is the sole general partner of CoMac Associates, L.P., a Delaware limited partnership ("Advisers LP"). Advisers LP is the sole general partner of CoMac Partners, L.P. Advisers Inc. is the sole general partner of CoMac Opportunities Fund, L.P. and CoMac Endowment Fund, L.P. Messrs. Coughlin and Mackey are members of the supervisor board of directors of CoMac International, N.V. and are executive officers, directors and shareholders of CMS Advisers, Inc., a Delaware corporation, the investment adviser to CoMac International N.V. Pursuant to the Instructions to Form 4, the entire amount of the securities held by the Funds are reported. Mr. Mackey, Mr. Coughlin and Advisers Inc. each disclaim beneficial ownership of such securities, except to the extent of their respective actual pecuniary interest in such securities. 3. Shares held directly by CoMac Partners, L.P. See Note 2 above. 4. Shares held directly by CoMac Endowment Fund, L.P. See Note 2 above. 5. Shares held directly by CoMac International N.V. See Note 2 above. 6. Shares held directly by CoMac Opportunities Fund, L.P. See Note 2 above. Page 5 of 6 6 Footnotes (continued) Designated Filer: Paul J. Coughlin Issuer and Ticker Symbol: Southern Mineral Corporation (SMOP.OB) Date of Statement: September, 2000 Footnotes (continued) 7. Shares held directly by Mr. Coughlin's spouse. Mr. Mackey, Mr. Coughlin and Advisers Inc. each disclaim beneficial ownership of such securities, except to the extent of their respective actual pecuniary interest in such securities. 8. Common shares acquired in good faith in connection with a debt previously contracted. Page 6 of 6

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