Teton says holders of 10.75% convertibles exercised put on $10 million

By Devika Patel

Knoxville, Tenn., Sept. 23 - Teton Energy Corp. said that holders of its 10.75% secured convertible debentures due June 17, 2013 elected to exercise their 90-day put option to reduce their investment by 25% to $30 million from $40 million.

The $10 million was paid from an interest bearing account, which the company established to hold this amount in reserve pending the end of the 90-day put option period.

Teton is a Denver-based developer, producer and marketer of natural gas and oil properties.

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