SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
American Exploration Company
(Name of Issuer)
Common Stock
(Title of Class of Securities)
025762105
(CUSIP Number)
Check the following box if a fee is being paid with the statement
[ X ]. (A fee is not required only if the reporting person: (1)
has a previous statement on file reporting beneficial ownership
of more than five percent of the class of securities described in
Item l; and (2) has filed no amendment subsequent thereto
reporting beneficial ownership of five percent or less of such
class.) (See Rule 13d-7.).
*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 disclosures provided in
a prior cover page.
The information required on 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 sub-
ject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 6 Pages
CUSIP No. 025762105
_________________________________________________________________
1) Names of Reporting Persons Trustees of General
S.S. or I.R.S Identification Electric Pension Trust
Nos. of Above Persons (I.R.S. #14-6015763)
_________________________________________________________________
2) Check the appropriate box if a (a) [ ]
Member of a Group (b) [ ]
_________________________________________________________________
3) SEC use only
_________________________________________________________________
4) Citizenship or Place of Organization New York State
_________________________________________________________________
(5) Sole Voting Power 19,955,596
Number of Shares
Beneficially Owned by(6) Shared Voting Power none
Each Reporting
Person With (7) Sole Dispositive Power 19,955,596
(8) Shared Dispositive Power none
_________________________________________________________________
9) Aggregate Amount Beneficially 19,955,596
Owned by Each Reporting Person
_________________________________________________________________
10) Check if the Aggregate Amount in Row (9 ) [ ]
excludes certain Shares
_________________________________________________________________
11) Percent of Class represented by Amount
in Row (9) 16.4%
_________________________________________________________________
12) Type of Reporting Person EP
_________________________________________________________________
Page 2 or 6 Pages
Item l(a) Name of Issuer: American Exploration Company
Item l(b) Address of Issuer's Principal Executive Offices:
1331 Lamar, Suite 900
Houston, TX 77010-3088
Item 2(a) Name of Person Filing:
Trustees of General Electric Pension Trust ("GEPT")
(See Schedule I)
Item 2(b) Address of Principal Business Office or, if none,
Residence:
The address of the principal office of GEPT is 3003
Summer Street, Stamford, Connecticut 06904
Item 2(c) Citizenship: New York State
Item 2(d) Title of Class of Securities: Common Stock
Item 2(e) CUSIP Number: 025762105
Item 3. If this statement is filed pursuant to Rules 13d-l(b)
or 13d-2(b), check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the
Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19)
of the Act
(d) [ ] Investment Company registered under section 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under section 203 of
the Investment Advisers Act of 1940
(f) [X] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Section
240.13d-l(b)(l)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with
Section 240.13d-l(b)(ii)(G) (Note: See Item 7)
(h) [ ] Group, in accordance with Section 240.13d-1(b)
(l)(ii)(H)
Pag e 3 of 6 Pages<PAGE>
Item 4. Ownership.
(a) Amount Beneficially Owned: As of February 10, 1995, GEPT
is deemed to be the beneficial owner of 19,955,596 shares
of Common Stock.
(b) Percent of Class: Such 19,955,596 shares of Common Stock
represent approximately 16.4% of the outstanding Common
Stock.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 19,955,596
(ii) shared power to vote or to direct the vote 0
(iii) sole power to dispose or to direct the
disposition of 19,955,596
(iv) shared power to dispose or to direct the
disposed of 0
Item 5 Ownership of Five Percent or Less of a Class.
If 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 five
percent of the class of securities, check the
following [ ].
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.
Not Applicable.
Item 8. Identification and Classification of Members of the
Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
P age 4 of 6 Pages
Item 10. Certification.
By signing below, I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not
acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a
participant in any transaction having such purposes or
effect.
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.
TRUSTEES OF GENERAL ELECTRIC
PENSION TRUST
By: /s/ Alan M. Lewis
Alan M. Lewis, Trustee
Dated: March 21, 1995
Page 5 of 6 Pages
SCHEDULE I
TRUSTEES OF
GENERAL ELECTRIC PENSION TRUST
3003 Summer Street, P.O. Box 7900
Stamford, Connecticut 06904
The names of the Trustees of General Electric Pension Trust
are as follows:
DALE F. FREY
EUGENE K. BOLTON
MICHAEL J. COSGROVE
RALPH R. LAYMAN
ALAN M. LEWIS
JOHN H. MYERS
DONALD W. TOREY
Page 6 of 6 Pages
