The Belzbergs purchased a stake in Ashland Oil.

In a terse statement, Ashland Oil said it had been informed by the Belzberg family of Canada that the family plans to file a 13-D report today with the SEC, reporting that they have acquired between 8% and 9% of Ashland’s stock. A 13-D report is required by the SEC when an investor acquires more than 5% of a publicly held concern. The Belzbergs control an estimated $5 billion in assets, principally through their Vancouver, British Columbia-based holding company, First City Financial Corp.