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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: RGinPG who wrote (18417)4/8/1998 11:20:00 PM
From: Teddy  Read Replies (1) of 95453
 
NEWS snips from Offshore Data:

sorry, i didn't have time to write the notes tonights. If a company is mentioned here,
just plan on it gapping down 5% tomorrow, then selling off from there.

U.S. GULF: Jackup ROWAN-JUNEAU is expected to complete its contract with Shell
around April 15. The rig will then
go to Brazos Block A-7 for a well with Newfield Exploration.

U.S. GULF: Sundowner Offshore workover jackup DOLPHIN 111 will begin a
six-month contract with American
Resources on May 1. The rig was recently released by Chevron and is in Sabine Pass,
Texas, undergoing repairs.

U.S. GULF: ENSCO is expected to sign a contract shortly for jackup ENSCO 87. The
rig's current contract with
Apache ends soon.

VENEZUELA/U.S. GULF: PVDSA will release jackup CLIFFS DRILLING later this
month. The rig will mobilize to the
U.S. Gulf for a short yard program. On completion, the rig will begin a Cliffs Drilling
turnkey contract with Nomeco, work
originally assigned to jackup CLIFFS DRILLING 180.

U.S. GULF: Exxon Co. USA will construct a Deep Draft Caisson Vessel to develop its
deepwater Hoover and Diana
prospects in the Gulf of Mexico. The $1.2 billion project, which will be developed 4,800
feet waters, will establish a new
world water depth record for a drilling and production platform with an associated subsea
development. Utilization of surface
production trees in this water depth also will be an industry first. The DDCV production
vessel is scheduled to be installed in
Atwater Valley Block 26 in 1999, with production beginning the following year. Hoover
and Diana contain estimated
recoverable resources exceeding 300 million oil-equivalent barrels.

AFRICA: Global Marine drillship GLOMAR ROBERT F. BAUER completed the
Padouck-1 well for Arco off Gabon.
The rig is now en route to Egypt for a two-month contract with BG E&P. The rig is
expected to arrive in Egypt on April 23.
The rig will return to West Africa in July for contracts with Agip Petroleum and
Marathon.

AUSTRALIA: Northern Offshore drillship NORTHERN EXPLORER 3 is on location
for Premier in the Bass Strait off
Australia and is due to spud the first of two wells plus one option soon. The rig is under
contract through early July.

INDONESIA: R&B Falcon drillship FALCON ICE was released by Arco Indonesia and
began a one-well contract with
BG Indonesia. The rig is expected to complete its current contract with BG in late June.

AUSTRALIA/SINGAPORE: Santa Fe jackup PARAMESWARA is expected to depart
Australia around mid-May for
transfer to Singapore before beginning an eight- well plus one-well option contract with
Petronas Carigali off Vietnam around
August. Dockwise heavy lift vessel MIGHTY SERVANT 1 will carry the rig from
Adelaide to Singapore.

INDIA: ONGC jackup SAGAR SHAKTI is due to have leg repairs starting shortly. The
rig, which had a blowout
recently, is expected to return to service in May.
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