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AMERICAN EXPLORATION COMPANY RECEIVES $6.5 MILLION GAS CONTRACT PAYMENT

 HOUSTON, July 8 /PRNewswire/ -- American Exploration Company (AMEX: AX) announced today that it had received a $6.5 million cash payment for the renegotiation of its contract to sell gas from the Thomasville Field in Rankin County, Miss. Proceeds will be used for debt repayment and to fund capital projects. Under the newly amended gas contract, American has agreed to reduce the contract price effective Jan. 1, 1994.
 American Exploration Company is an independent oil and gas company with operations primarily in Texas, Louisiana, and Oklahoma. The company also has interests in international concessions in Tunisia and the Sultanate of Oman. American's common stock is traded on the American Stock Exchange under the symbol AX.
 -0- 7/8/93
 /CONTACT: Frank Murphy of American Exploration Company, 212-230-0344/
 (AX)


CO: American Exploration Company ST: Texas IN: OIL SU: CON

TS-LD -- NY004 -- 9498 07/08/93 12:24 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
Words:147
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