2010-03-10-2010-01-05-2010-01-05

Acquired 89% interest in Bayou Couba Field ORI, bringing total to 93.5%.

American Natural Energy Corp., Tulsa, Okla., (Toronto Venture: ANR) has acquired an 89% interest in an overriding royalty and net profits interest in Louisiana's Bayou Couba Field for $320,000 from three undisclosed sellers.

American previously held 4.5% of the ORRI, which was created in 2001 as part of American's purchase of the assets of Couba Operating Co.; the transaction brings its total to 93.5%.

In December, American acquired a 5.875% working interest in Bayou Couba from eight owners in a cash and stock deal. The company now owns 97.25% of the working interest in all but six of the producing wells, in which it has a 47.25% interest. The acquisitions have increased the value of American's proved reserves by approximately $3.3 million.

The acquisition was financed by an unsecured, $400,000-bridge loan due March 31. Lenders will receive a share bonus of 1.6 million restricted American shares, subject to approval.

The acquisition of the ORRI was financed by a bridge loan due March 31, 2010, in the amount of C$400,000.