DAMSON OIL <DAM> CONVERTS MORTGAGE BONDS
Damson Oil Corp said that beginning
today any holder of its 15 pct dual convertible mortgage bonds
due 1997 has the right to convert up to one half of the
principal amount into common stock during a 30-day special
conversion period.
    The holder may convert the remaining half of the principal
amount beginning May one at a conversion price calculated
according to terms of the indenture, Damson said.
    The company added that any holder choosing not to convert
the bonds during either of the two special conversion periods
will receive no interest on bonds still held after May one.
 Reuter
