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AMERICAN NATIONAL PETROLEUM ANNOUNCES PREPAYMENT

 AMERICAN NATIONAL PETROLEUM ANNOUNCES PREPAYMENT
 HOUSTON, May 6 /PRNewswire/ -- American National Petroleum Company


(NASDAQ: ANPC) announced that on May 4, 1992, the company used a portion of its cash holdings to prepay the remaining $8.8 million of its outstanding indebtedness to its lender, Prudential-Bache Energy Growth Fund, L.P. G-2. This debt bore interest at 12 percent per annum, was convertible into the company's common stock and could not be prepaid prior to September 1993 without the lender's consent. The company paid the lender a premium of $1.025 million to obtain the lender's consent to the prepayment.
 The company will continue to use its remaining cash holdings of approximately $6 million to acquire additional oil and natural gas properties. The company plans to look for properties geographically complimentary to its existing properties, which are located in south Louisiana and Texas.
 American National Petroleum Company, a Houston, Texas based company, is engaged in oil and natural gas exploration and production and energy related business.
 -0- 5/6/92
 /CONTACT: Mary Y. Cotner of American National Petroleum Company, 713-961-1770/
 (ANPC) CO: American National Petroleum Company ST: Texas IN: OIL SU:


PS -- NY086 -- 7262 05/06/92 16:26 EDT
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Publication:PR Newswire
Date:May 6, 1992
Words:199
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