American Natural extends maturity, lowers conversion price on 8% convertibles

By Sheri Kasprzak

Atlanta, June 13 - American Natural Energy Corp. received bondholder approval Monday to extend the maturity and lower the conversion price on its outstanding 8% convertible secured debentures.

The maturity of the debentures has been extended to Sept. 30, 2006 from Sept. 30, 2005.

The conversion price was lowered to $0.15 each from $0.45 per share.

The $11.7 million in debentures was originally received on Oct. 21, 2003.

Based in Tulsa, Okla., American Natural is an oil and natural gas exploration and production company.

On Monday, the company's stock closed down $0.005 at $0.10.

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