SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Name of Issuer: American Exploration Company
Title of Class of Securities: Common Stock
CUSIP Number: 025762808
A fee is being paid with this statement.
(1) Name of Reporting Person: UNUM Corporation
IRS Identification Number of Above Person: 01-0405657
(2) Member of a Group:
(a) Not Applicable
(b) Filing being made on behalf of
Reporting Person and subsidiaries,
pursuant to Rule 13d-1(f)(1)
(3) SEC Use Only
(4) Place of Organization: Delaware
Number of Shares Beneficially Owned by Reporting
Person with
(5) Sole Voting Power: None (See Exhibit A)
(6) Shared Voting Power: 799,438.4 (See Exhibit A)
(7) Sole Dispositive Power: None (See Exhibit A)
(8) Shared Dispositive Power 799,438.4 (See Exhibit A)
(9) Aggregate Amount Beneficially Owned by Reporting
Person: 799,438.4 shares (See Exhibit A)
(10) Aggregate Amount in Row (9) Excludes Certain
Shares: Not Applicable
(11) Percent of Class Represented by Amount in
Row (9): 5.096%
(12) Type of Reporting Person: HC (See Exhibit A)
Item 1.
(a) Name of Issuer:
American Exploration Company
(b) Address of Issuer's Principal
Executive Offices:
1331 Lamar Street
Suite 900
Houston TX 77010-3088
Item 2.
(a) Name of Person Filing:
UNUM Corporation
(b) Address of Principal Business Office:
2211 Congress Street
Portland ME 04122
(c) Citizenship:
A Delaware corporation
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number:
025762808
Item 3. This statement is filed pursuant to Rule 13d-1(b).
The person filing this statement is a parent holding
company, in accordance with Section 240.13d-1(b)(ii)(G).
(See Exhibit A)
Item 4. Ownership:
(a) Number of Shares Beneficially Owned:
799,438.4 (See Exhibit A)
(b) Percent of Class: 5.096%
(c) Number of shares as to which such person has:
Sole power to vote or to direct the vote
None (See Exhibit A)
Shared power to vote or to direct the vote
799,438.4 (See Exhibit A)
Sole power to dispose or to direct disposition
None (See Exhibit A)
Shared power to dispose or to direct disposition
799,438.4 (See Exhibit A)
Item 5. Ownership of 5% or less of a class:
Not Applicable
Item 6. Ownership of More than 5% on Behalf of
Another Person:
Not Applicable
Item 7. Identification and Classification of the
Subsidiaries Which Acquired the Security Being
reported on By the Parent Holding Company:
See Exhibit A
Item 8. Identification and Classification of
Members of the Group:
Not Applicable
Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification:
By signing below, UNUM Corporation certifies that,
to the best of its 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 participation in
any transaction having such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of its
knowledge and belief, UNUM Corporation certifies that
the information set forth in this statement is true,
complete and correct.
Date: February 7, 1997 (As of December 31, 1996)
UNUM Corporation
/s/ Peter J. Moynihan
By: Peter J. Moynihan
Senior Vice President, Investments
Exhibit A
Item 3. Status of Person Filing; Classification/
Types of Subsidiaries:
Item 7. Identification and Classification of the
Subsidiaries Which Acquired the Security
Being Reported on By the Parent Holding
Company:
The security being reported on by UNUM Corporation
in its capacity as a parent holding company was
acquired by its wholly-owned subsidiaries, UNUM
Life Insurance Company of America, an insurance
corporation organized and existing under the laws
of the State of Maine, and First UNUM Life
Insurance Company, an insurance corporation
organized and existing under the laws of the State
of New York, further information regarding which
subsidiaries is as follows:
UNUM Life Insurance Company of America:
This subsidiary's I.R.S. identification number
is 01-0278678.
The address of this subsidiary's principal
executive office is the same as that of the
parent holding company.
As of December 31, 1996, this subsidiary held
direct legal and beneficial ownership of
696,901 shares of the common stock of American
Exploration Company which are part of the
subject of this Schedule, of which 648,524
shares were held in this Subsidiary's General
Account and 48,377 shares were held in a
Separate Account.
First UNUM Life Insurance Company:
This subsidiary's I.R.S. identification number
is 13-1898173.
The address of this subsidiary's principal
executive office is:
120 White Plains Road
Third Floor
Tarrytown NY 10591
As of December 31, 1996, this subsidiary held
direct legal and beneficial ownership of
102,537.4 shares of the common stock of
American Exploration Company which are part of
the subject of this Schedule.
Each subsidiary is an insurance company as defined
in Section 3(a)(19) of the Act, and its classification
or type for purposes of Item 3 is "IC".
To the best of its knowledge and belief and that of
the parent holding company, these shares were
respectively acquired by each subsidiary 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.
The parent holding company filing this Schedule
does not directly own any security of the subject
class, and no other direct or indirect subsidiary
of this parent holding company holds any security
of the subject class.
