2009-07-08-2009-05-12-2009-08-04

Re-acquired interest in producing wells in Bayou Couba Field in St. Charles Parish, LA.

American Natural Energy Corp., Tulsa, Okla., (Toronto Venture: ANR) has acquired interest in producing wells and leasehold rights in the Bayou Couba Field in St. Charles Parish, Louisiana, from Houston-based Dune Energy Inc. (Amex: DNE) for a deal value of approximately $9.2 million in debt and cash in a move to settle liabilities between the companies. American Natural repurchased and retired $7.8 million, plus accrued and unpaid interest, of its 8% secured debentures held by Dune. It also assigned a portion of certain deep rights and paid Dune a total of $1.3 million with $1 million paid at closing and an additional $300,000 due in quarterly payments beginning 90 days after resuming operations of the field. Mike Paulk, CEO of ANEC, said, "The closing of this agreement, together with the previously announced re-purchase of $2.9 million of its outstanding 8% Secured Debenture and an additional $780,000 of accrued interest from various holders, clears from ANEC's balance sheet approximately $13.7 million of debenture liability, plus other accrued liabilities of approximately $2.2 million. The Dune transaction additionally increases our working interest position in our existing properties and provides us with an approximate 90% working interest position in all infield oil and gas well opportunities to the top of the Cib-Op formation on the Bayou Couba lease. We intend to commence workover, re-completion and drilling activities prior to the end of the calendar year. We have also preserved our opportunities in the potential deeper sub-salt play which we are continuing to evaluate."