SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 7 )*
PHI INC.
(Name of Issuer)
VOTING COMMON STOCK
(Title of Class of Securities)
6933T 10 6
(CUSIP Number)
DECEMBER 31, 2005
(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).
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CUSIP No. 6933T 10 6 13G Page 2 of 7 Pages
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(entities only)
WOODBOURNE PARTNERS, L.P.
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2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ]
(b) [ ]
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3 SEC Use Only
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4 Citizenship or Place of Organization
MISSOURI
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5 Sole Voting Power
-0-
Number of -----------------------------------------------------------------
Shares 6 Shared Voting Power
Beneficially -0-
Owned by -----------------------------------------------------------------
Each 7 Sole Dispositive Power
Reporting -0-
Person With -----------------------------------------------------------------
8 Shared Dispositive Power
-0-
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
222,598
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
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11 Percent of Class Represented by Amount in Row (9)
7.8%
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12 Type of Reporting Person (See Instructions)
PN
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CUSIP No. 6933T 10 6 13G Page 3 of 7 Pages
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(entities only)
CLAYTON MANAGEMENT COMPANY
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2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ]
(b) [ ]
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3 SEC Use Only
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4 Citizenship or Place of Organization
MISSOURI
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5 Sole Voting Power
222,598
Number of -----------------------------------------------------------------
Shares 6 Shared Voting Power
Beneficially -0-
Owned by -----------------------------------------------------------------
Each 7 Sole Dispositive Power
Reporting 222,598
Person With -----------------------------------------------------------------
8 Shared Dispositive Power
-0-
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
222,598
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
11 Percent of Class Represented by Amount in Row (9)
7.8%
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12 Type of Reporting Person (See Instructions)
CO
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CUSIP No. 6933T 10 6 13G Page 4 of 7 Pages
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(entities only)
JOHN D. WEIL
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2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ]
(b) [ ]
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3 SEC Use Only
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4 Citizenship or Place of Organization
MISSOURI
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5 Sole Voting Power
222,598
Number of -----------------------------------------------------------------
Shares 6 Shared Voting Power
Beneficially -0-
Owned by -----------------------------------------------------------------
Each 7 Sole Dispositive Power
Reporting 222,598
Person With -----------------------------------------------------------------
8 Shared Dispositive Power
-0-
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
222,598
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
11 Percent of Class Represented by Amount in Row (9)
7.8%
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12 Type of Reporting Person (See Instructions)
IN
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CUSIP No. 6933T 10 6 13G Page 5 of 7 Pages
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AMENDMENT NO. 7 TO SCHEDULE 13G
The Reporting Person reported the acquisition of shares of Voting Common
Stock ("Stock") of PHI Inc., a Delaware corporation ("Issuer"), 113 Borman
Drive, P.O. Box 23502, Lafayette, LA 70508, in an initial filing of this
Schedule 13G on February 16, 1999. In this regard, Item 4 (as heretofore
amended) is hereby amended as follows. All other items are unchanged from the
initial filing, as amended.
ITEM 4. Ownership.
CLAYTON WEIL
(general partner (sole director and
WOODBOURNE of Woodbourne) shareholder of Clayton)
---------- ---------------- -----------------------
(a) Amount beneficially owned: 222,598 222,598 222,598
(b) Percent of Class: 7.8% 7.8% 7.8%
(c) Number of Shares as to which the person has:
(i) Sole power to vote or direct the vote: -0- 222,598 222,598
(ii) Shared power to vote or direct the vote: -0- -0- -0-
(iii) Sole power to dispose or to direct the disposition of: -0- 222,598 222,598
(iv) Shared power to dispose or to direct the disposition of: -0- -0- -0-
Percentage figures are based on 2,852,616 shares outstanding as of the company's
most recent 10-Q filing with the SEC.
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CUSIP No. 6933T 10 6 13G Page 6 of 7 Pages
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ITEM 10. Certification.
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.
Dated: February 10, 2006 WOODBOURNE PARTNERS, L.P.,
by its General Partner, CLAYTON
MANAGEMENT COMPANY
/s/ John D. Weil
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John D. Weil, President
Dated: February 10, 2006 CLAYTON MANAGEMENT COMPANY
/s/ John D. Weil
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John D. Weil, President
Dated: February 10, 2006 /s/ John D. Weil
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John D. Weil
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CUSIP No. 6933T 10 6 13G Page 7 of 7 Pages
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EXHIBIT A TO SCHEDULE 13G
AGREEMENT PURSUANT TO RULE 13D-1(K)(1)
The undersigned persons, on February 10, 2006, agree and consent to the
joint filing on their behalf of this Amendment No. 7 to Schedule 13G in
connection with their beneficial ownership of the voting common stock of
Petroleum Helicopters Incorporated.
WOODBOURNE PARTNERS, L.P.,
by its General Partner, CLAYTON
MANAGEMENT COMPANY
/s/ John D. Weil
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John D. Weil, President
CLAYTON MANAGEMENT COMPANY
/s/ John D. Weil
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John D. Weil, President
/s/ John D. Weil
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John D. Weil