UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 3)*

Carbon Natural Gas Company

(Name of Issuer)

Common Stock, $0.01 Par Value

(Title of Class of Securities)

14115T109

(CUSIP Number)

December 31, 2011

(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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.


CUSIP No.		14115T109


1	NAMES OF REPORTING PERSONS:

	Walter P. Carucci Carr Securities Corporation - 11-2003950 Uncle Mills Partners (formerly Carucci Family Partners) - 11-3146675


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
	(a) [ ]
	(b) [ ]


3	SEC USE ONLY:



4	CITIZENSHIP OR PLACE OF ORGANIZATION:

	Walter P. Carucci - U.S. Citizen Carr Securities Corporation - New York Uncle Mills Partners - New York


NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:		5	SOLE VOTING POWER:

			Walter P. Carucci - 631,587 (Includes the 20,053 shares owned individually, as well as the 423 shares owned by Carr Securities Corporation and the 611,111 shares owned by Uncle Mills Partners) Carr Securities Corporation - 423 Uncle Mills Partners - 611,111


		6	SHARED VOTING POWER:

			0


		7	SOLE DISPOSITIVE POWER:

			Walter P. Carucci - 631,587 (Includes the 20,053 shares owned individually, as well as the 423 shares owned by Carr Securities Corporation and the 611,111 shares owned by Uncle Mills Partners) Carr Securities Corporation - 423 Uncle Mills Partners - 611,111


		8	SHARED DISPOSITIVE POWER:

			0


9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

	Walter P. Carucci - 631,587 (Includes the 20,053 shares owned individually, as well as the 423 shares owned by Carr Securities Corporation and the 611,111 shares owned by Uncle Mills Partners) Carr Securities Corporation - 423 Uncle Mills Partners - 611,111


10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):

	[ ]


11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):

	Walter P. Carucci - 0.006% (Includes the 0.0002% owned individually, as well as the amounts owned by Carr Securities Corporation and Uncle Mills Partners) Carr Securities Corporation - 0.000004% Uncle Mills Partners - 0.005%



12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):

	Walter P. Carucci - IN Carr Securities Corporation - CO Uncle Mills Partners - PN

SCHEDULE 13G


Item 1(a)	Name of Issuer.

	Carbon Natural Gas Company

Item 1(b)	Address of Issuer’s Principal Executive Offices.

	1700 Broadway, Suite 2020 Denver, CO 80290

Item 2(a)	Name of Person Filing.

	Walter P. Carucci Carr Securities Corporation Uncle Mills Partners (Uncle Mills Partners is a general partnership, with four general partners. Walter P. Carucci is one of four general partners.)

Item 2(b)	Address of Principal Business Office or, if none, Residence.

	c/o Carr Securities Corporation 14 Vanderventer Ave., Suite 210 Port Washington, NY 11050

Item 2(c)	Citizenship.

	Walter P. Carucci is a U.S. Citizen Carr Securities Corporation is organized under New York law. Uncle Mills Partners is ogranized under New York law.


Item 2(d)	Title of Class of Securities.

	Common Stock, $0.01 Par Value

Item 2(e)	CUSIP Number.

	14115T109


Item 3	This statement is not filed pursuant to Rules 13d-1(b), 13d-2(b) or 13d-2(c).


Item 4	Ownership.

	(a)	Amount beneficially owned: Walter P. Carucci - 631,587 (Includes the 20,053 shares owned individually, as well as the 423 shares owned by Carr Securities Corporation and the 611,111 shares owned by Uncle Mills Partners) Carr Securities Corporation - 423 Uncle Mills Partners - 611,111

	(b)	Percent of Class: Walter P. Carucci - 0.006% (Includes the 0.0002% owned individually, as well as the amounts owned by Carr Securities Corporation and Uncle Mills Partners) Carr Securities Corporation - 0.000004% Uncle Mills Partners - 0.005%

	(c)	Number of Shares as to which the person has: (i) Sole power to vote or to direct the vote: Walter P. Carucci - 631,587 (Includes the 20,053 shares owned individually, as well as the 423 shares owned by Carr Securities Corporation and the 611,111 shares owned by Uncle Mills Partners) Carr Securities Corporation - 423 Uncle Mills Partners - 611,111 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: Walter P. Carucci - 631,587 (Includes the 20,053 shares owned individually, as well as the 423 shares owned by Carr Securities Corporation and the 611,111 shares owned by Uncle Mills Partners) Carr Securities Corporation - 423 Uncle Mills Partners - 611,111 (iv) Shared power to dispose or to direct the disposition of: 0

Item 5	Ownership of Five Percent or Less of a Class.

	This statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities.

Item 6	Ownership of More Than Five Percent on Behalf of Another Person.

	Not applicable.

Item 7	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported On By the Parent Holding Company or Control Person.

	Not applicable.

Item 8	Identification and Classification of Members of the Group.

	Not applicable.

Item 9	Notice of Dissolution of Group.

	Not applicable.

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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


WALTER P. CARUCCI
Date: February 8, 2012

By:	Walter P. Carucci

	By:	/s/ Beth N. Lowson

		Name: Beth N. Lowson
		Title: Attorney-In-Fact
		The Nelson Law Firm, LLC
		White Plains Plaza
		One North Broadway, Suite 712
		White Plains, NY 10601

CARR SECURITIES CORPORATION
Date: February 8, 2012

By:	Walter P. Carucci, President

	By:	/s/ Beth N. Lowson

		Name: Beth N. Lowson
		Title: Attorney-In-Fact
		The Nelson Law Firm, LLC
		White Plains Plaza
		One North Broadway, Suite 712
		White Plains, NY 10601

UNCLE MILLS PARTNERS
Date: February 8, 2012

By:	Walter P. Carucci, General Partner

	By:	/s/ Beth N. Lowson

		Name: Beth N. Lowson
		Title: Attorney-In-Fact
		The Nelson Law Firm, LLC
		White Plains Plaza
		One North Broadway, Suite 712
		White Plains, NY 10601

POWER OF ATTORNEY

The undersigned does hereby constitute and appoint Stephen J. Nelson, Mary Anne Mayo, Scott M. Dubowsky, Beth N. Lowson and Sean W. McDowell, each of The Nelson Law Firm, LLC, White Plains Plaza, One North Broadway, White Plains, NY 10601, signing singly, with full power of substitution, as the true and lawful attorney of the undersigned, and authorizes and designates each of them to sign on behalf of the undersigned, and to file filings and any amendments thereto made by or on behalf of the undersigned in respect of the beneficial ownership of equity securities held by the undersigned, directly, indirectly or beneficially, pursuant to Sections 13(d), 13(g) and 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the rules and regulations thereunder. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming any of the undersigned's responsibilities to comply with Sections 13(d), 13(g) or 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until withdrawn by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 7th day of February, 2011.


	By:	/s/ Walter P. Carucci

		Walter P. Carucci

CARUCCI WALTER P /NY SC 13G/A