Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Jamey who wrote (32061)	11/23/1998 7:46:00 PM
From: sportsman	Read Replies (2) of 95453

HOUSTON, Nov. 23 /PRNewswire/ -- Transocean Offshore Inc. (NYSE: RIG; OSE) announced today that it has been awarded a one-year contract extension by the Norwegian state oil company, Statoil AS, for the Company's third generation semisubmersible Transocean Prospect. The one-year extension will commence during the fourth quarter of 1999 and is expected to generate revenues totaling $45.3 million. The Transocean Prospect is one of seven Transocean Offshore Inc. semisubmersibles currently operating in the Norwegian sector of the North Sea, where the rig is expected to remain throughout the contract extension period. The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical and future trends, on general economic and business conditions and on numerous other factors, including expected future developments, many of which are beyond the control of the Company. Such forward-looking statements are also subject to certain risks and uncertainties as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, the Company's actual results may differ materially from those indicated in or implied by such forward-looking statements. Transocean Offshore Inc. is an international offshore drilling company engaged in contract drilling of oil and gas wells. Headquartered in Houston, Texas, the Company specializes in technically demanding segments of the offshore drilling business, including industry-leading positions in deepwater and harsh environment drilling services. The Company also provides international turnkey, coiled tubing and integrated drilling services to customers worldwide. SOURCE: Transocean Offshore Inc. Does anyone know how this compares to the previous contract? Thanks

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