Grewal Randeep S – ‘3’ for 10/8/98 re: Saba Petroleum Co.

As of:  Tuesday, 12/1/98   ·   For:  10/8/98   ·   Accession #:  1001348-98-128   ·   File #:  1-13880

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Initial Statement of Beneficial Ownership of Securities by an Insider   —   Form 3   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 3           Form 3 - 10/8/1998                                     2±     8K 


UNITED STATES SECURITIES AND EXCHANGE COMMISSION                                
WASHINGTON, D.C. 20549                                                          
FORM 3                                                                          
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES                         
1. Name and Address of Reporting Person                                         
Grewal, Randeep S.                                                        
630 Fifth Avenue, Suite 1501                                              
New York, NY U.S.A. 10111                                                 
2. Date of Event Requiring Statement (Month/Day/Year)                           
10/8/1998                                                                 
3. IRS Identification Number of Reporting Person, if an entity (voluntary)      

4. Issuer Name and Ticker or Trading Symbol                                     
Saba Petroleum Company SAB                                                
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)         
(x) Director  ( ) 10% Owner ( ) Officer (give title below)                
( ) Other (specify below)                                                 

6. If Amendment, Date of Original (Month/Day/Year)                              

7. Individual or Joint/Group Filing (Check applicable line)                     
(x) Form Filed by One Reporting Person                                    
( ) Form Filed by More than One Reporting Person                          

                                                        [Enlarge/Download Table]

___________________________________________________________________________________________________________________________________ 
 Table I -- Non-Derivative Securities Beneficially Owned                                                                            
___________________________________________________________________________________________________________________________________|
1. Title of Security                       |2. Amount of          |3. Ownership    |4. Nature of Indirect                          |
                                           |   Securities         |   Form:        |   Beneficial Ownership                        |
                                           |   Beneficially       |   Direct(D) or |                                               |
                                           |   Owned              |   Indirect(I)  |                                               |
___________________________________________________________________________________________________________________________________|
                                                                                                                                    
No Securities are beneficially owned.      |                      |                |                                               |
-----------------------------------------------------------------------------------------------------------------------------------|

___________________________________________________________________________________________________________________________________ 
 Table II -- Derivative Securities Beneficially Owned                                                                              |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative   |2.Date Exer-       |3.Title and Amount     |         |4. Conver-|5. Owner-    |6. Nature of Indirect      |
  Security              |  cisable and      |  of Underlying        |         |sion or   |ship:        |   Beneficial Ownership    |
                        |  Expiration       |  Securities           |         |exercise  |Form of      |                           |
                        |  Date(Month/      |-----------------------|---------|price of  |Deriv-       |                           |
                        |  Day/Year)        |                       |Amount   |deri-     |ative        |                           |
                        | Date    | Expira- |                       |or       |vative    |Security:    |                           |
                        | Exer-   | tion    |         Title         |Number of|Security  |Direct(D) or |                           |
                        | cisable | Date    |                       |Shares   |          |Indirect(I)  |                           |
___________________________________________________________________________________________________________________________________|
                                                                                                                                    
___________________________________________________________________________________________________________________________________|
No Securities are       |         |         |None                   |         |          |             |                           |
beneficially owned      |         |         |                       |         |          |             |                           |
-----------------------------------------------------------------------------------------------------------------------------------|

/s/ Randeep S. Grewal                                                           
SIGNATURE OF REPORTING PERSON                                                   
/Signature/                                                                     
Randeep S. Grewal                                                               
DATE                                                                            
12/1/1998