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SUPPLEMENT TO PROSPECTUS
6,001,000 SHARES
OCEANIC EXPLORATION COMPANY
THIS SUPPLEMENT TO PROSPECTUS ("SUPPLEMENT") IS INTENDED TO SUPPLEMENT
THE PROSPECTUS (THE "PROSPECTUS") DATED JANUARY 19, 1996, WITH RESPECT TO
6,001,000 SHARES OF COMMON STOCK, $.0625 PAR VALUE (THE "COMMON STOCK") OF
OCEANIC EXPLORATION COMPANY, A DELAWARE CORPORATION (THE "COMPANY"). THIS
SUPPLEMENT SHOULD BE READ IN CONJUNCTION WITH THE PROSPECTUS, INCLUDING THE
RISK FACTORS IDENTIFIED IN THE PROSPECTUS.
The Rights described in the Prospectus expired on February 23, 1996. At
the end of business on that date the Company had received subscriptions and
payment for (i) 5,097,503 shares of Common Stock, at an aggregate purchase
price of $509,750, pursuant to Basic Subscription Rights and (ii) 5,601,091
shares of Common Stock, at an aggregate purchase price of $560,109, pursuant
to the Over-Subscription Privilege. All subscriptions pursuant to Basic
Subscription Rights were accepted by the Company. Subscriptions for 903,497
shares of Common Stock, at an aggregate purchase price of $90,350, pursuant
to the Over-Subscription Privilege were accepted by the Company. The
remaining $469,759 received by the Company pursuant to unaccepted
subscriptions pursuant to the Over-Subscription Privilege has been returned to
the subscribing stockholders.
Since all of the offered shares of Common Stock were sold pursuant to
the Basic Subscription Rights and Over-Subscription Privilege, no Common
Stock was sold to International Hydrocarbons pursuant to its standby
commitment to purchase all unsubscribed Common Stock. However,
International Hydrocarbons did acquire 3,198,695 shares of Common Stock
pursuant to the Basis Subscription Rights and the Over-Subscription Privilege.
The date of this Supplement is March 7, 1996.
