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Microcap & Penny Stocks : GW GREY WOLF

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To: Mr. Energy who wrote (135)	1/5/1998 1:33:00 PM
From: regine	Read Replies (1) of 444

TO ALL!! Monday January 5, 12:39 pm Eastern Time Grey Wolf to buy Murco Drill for $56.4 mln HOUSTON, Jan 5 (Reuters) - Grey Wolf Inc said Monday that it has agreed to acquire Murco Drilling Corp for $56.4 million and also assume net liabilities of $8.6 million. Grey Wolf said it has the option of paying up to $10.0 million in Grey Wolf common stock. Grey Wolf shares traded at at 5-1/8, down 1/4. The company has 164.3 million shares outstanding. Murco, which is headquartered in Shreveport, Louisiana, operates 10 land drilling rigs.

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