PROSPECTUS SUPPLEMENT NO. 7 DATED JANUARY 30, 1994 Pursuant to
(TO PROSPECTUS DATED OCTOBER 3, 1994) Rule 424(b)(3)
Reg. No. 33-54561
800,000 Depositary Shares,
4,000 Shares of $450 Cumulative Convertible Preferred Stock
and
17,777,777 Shares of Common Stock
AMERICAN EXPLORATION COMPANY
The following beneficial owner of Depositary Shares has requested
the Company to file a Prospectus Supplement identifying it as a Selling
Securityholder. The information concerning such Selling Securityholder has been
provided by such Selling Securityholder.
No. of % of % of
Depositary Outstanding Outstanding
No. of Shares Depositary Depositary
Selling Depositary That May Be Shares Shares
Securityholder Shares Owned Sold Before Sale After Sale
-------------- ------------ ----------- ----------- ----------
SunAmerica Asset
Management Corp.
733 Third Avenue
New York, NY 10017-3204 3,900 100 0.49% 0.48%
----- --- ----- -----
Total 3,900 100 0.49% 0.48%
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Additional Selling Securityholders or other information concerning
the Selling Securityholder listed above may be set forth in subsequent
Prospectus Supplements from time to time. As a result of such additional
Prospectus Supplements, the total amount of Depositary Shares offered for the
account of Selling Securityholders may increase further, up to a maximum of
800,000 Depositary Shares.
