AED Oil adds put dates, lowers conversion price of 9% convertibles

By Marisa Wong

Madison, Wis., April 18 - AED Oil Ltd. announced that the exercise price for its US$21,217,500 of 9% convertible notes due July 2012 was reset on April 16 to A$0.30.

The reset price is equal to 107.5% of the average volume weighted average price of AED shares for the five consecutive trading days ended April 15.

The new exercise price also represents 80% of the previous exercise price of A$0.38, rounded down as dictated by the terms of the notes.

AED is a Melbourne, Australia-based oil company.

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