APCO Oil Corporation Stock Certificate

This particular APCO Oil Corporation stock certificate is one of the subordinated debenture issues sold by the company, and which was converted as a 5% convertible subordinated debenture, Due July 15, 1988, $20,000,000 face amount of APCO Oil Corporation. Originally convertible on the basis of common stock at $36 per share. Called for redemption on June 30, 1977, when the adjusted conversion price was $27.37 and the market price of APCO Oil Stock, on May 25, 1977, was $44.875. Redeemed $108,000 face amount at cost of $113,715.36; and $19,892,000 face amount was surrendered for conversion — $22,739.24 was paid in cash for fractional shares and the full shares issued were 715,000 shares.