STAR GROUP, L.P. — Director's Dealing 2012

May 9, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: STAR GAS PARTNERS LP (SGU)
CIK: 0001002590
Period of Report: 2012-05-07

Reporting Person: Bandera Partners LLC (10% Owner)
Reporting Person: Bylinsky Gregory (10% Owner)
Reporting Person: Gramm Jefferson (10% Owner)
Reporting Person: Shpiz Andrew (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Units	6040000	Indirect
Common Units	81706	Direct
Common Units	4000	Direct

Footnotes

F1: The Common Units reported herein as indirectly beneficially owned by Bandera Partners LLC, Gregory Bylinsky, Jefferson Gramm and Andrew Shpiz (the "Master Fund Shares") are directly owned by Bandera Master Fund L.P., a Cayman Islands exempted limited partnership ("Bandera Master Fund"). Bandera Partners LLC is the investment manager of Bandera Master Fund and may be deemed to have beneficial ownership of the Master Fund Shares by virtue of the sole and exclusive authority granted to Bandera Partners LLC by Bandera Master Fund to vote and dispose of the Master Fund Shares. Mr. Bylinsky, Mr. Gramm and Mr. Shpiz may be deemed to have beneficial ownership of the Master Fund Shares in their capacities as Managing Partners, Managing Directors and Portfolio Managers of Bandera Partners LLC. (continued in footnote 2)

F2: Indirect beneficial ownership of the Master Fund Shares has not been allocated to the Reporting Persons on a proportional basis. Each of Bandera Partners LLC, Mr. Bylinsky, Mr. Gramm and Mr. Shpiz disclaims beneficial ownership of the Master Fund Shares except to the extent of its or his pecuniary interest therein pursuant to Rule 16a-1(a)(2).

F3: The Common Units referenced herein are owned directly by Mr. Gramm.

F4: The Common Units referenced herein are owned directly by Mr. Shpiz.