SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4 )*
American Exploration Company
(Name of Issuer)
Common Stock, par value $.05 per share
(Title of Class of Securities)
(CUSIP Number)
Peter E. Lorenzen
Snyder Oil Corporation
777 Main Street
Suite 2500
Fort Worth, TX 76102
(817) 338-4043
(Name, Address, and Telephone Number of Person
Authorized to Receive Notices and Communications)
(Date of Event which Requires Registrant
of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(b)(3) or (4), check
the following box.
Check the following box if a fee is being paid with the statement. (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 1; and (2) has
filed no amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.) (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should
be filed with the Commission. See Rule 13d-1(a) for other parties to
whom copies are to be sent.
*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, as amended (the "Act"), or otherwise
subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the Notes).
(Continued on following pages)
Page 1 of 91 Pages
CUSIP No. 025762-10-5 13D Page 2 of 3 Pages
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Snyder Oil Corporation
I.R.S. Identification No. 75-2306158
2 Check the Appropriate Box if a Member of a Group* (a)
(b)
3 SEC USE ONLY
4 Source of Funds*
WC BK
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
6 Citizenship or Place of Organization
Delaware
7 Sole Voting Power
Number of 7,610,538
Shares
Beneficially 8 Shared Voting Power
Owned By 0
Each
Reporting 9 Sole Dispositive Power
Person 7,610,538
With
10Shared Dispositive Power
0
11 Aggregate Amount Beneficially Owned by Each Reporting
Person
7,610,538
12 Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares*
13 Percent of Class Represented by Amount in Row (11)
10.8%
14 Type of Reporting Person*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!<PAGE>
Item 5. Interest in Securities of the Issuer.
Item 5 is amended to add the following:
On May 18, 1994, SOCO holds 7,610,538 shares of Common Stock,
representing approximately 10.8% of the 70,513,500 shares of Common
Stock as of May 9, 1994 as reported by the Issuer in its Quarterly
Report on Form 10-Q for its fiscal quarter ended March 31, 1994.
During the 60 days prior to the date hereof, SOCO has effected
the following purchases of the Common Stock:
Number of Price
Date Shares Per Share
March 29, 1994 675,000 $1.4375
April 13, 1994 240,000 $1.3750
May 17, 1994 600,600 $1.2500
May 18, 1994 30,000 $1.2500
All such transactions were market purchases.
SIGNATURE
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.
DATE: May 18, 1994
SNYDER OIL CORPORATION
By: /s/Peter E. Lorenzen
Peter E. Lorenzen
Vice President
