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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: CommanderCricket who wrote (46246)	6/10/1999 6:05:00 PM
From: The Ox	Read Replies (2) \| Respond to of 95453

Marine Drilling Companies Inc. Updates Status of MARINE 500 Project SUGAR LAND, Texas--(BUSINESS WIRE)--June 10, 1999--Marine Drilling Companies Inc. (NYSE:MRL) today reported the anticipated departure date of the MARINE 500 has been delayed a week or two due to difficulties encountered during the commissioning of the blow out preventer ("BOP") and related control system. One of two subsea electronic modules ("SEM") on a control pod lost power. The SEM has been modified by the manufacturer to resolve the power issue and will be installed on the control pod tomorrow. Both control pods will then be re-installed and the BOP will be re-tested. Upon the completion of a successful test, the remaining components of the marine riser system will be fully assembled and tested. As a result of the difficulties encountered commissioning the BOP, the Company now believes the drilling rig should depart for Western Australia during the second half of June. The rig will work for West Australian Petroleum Pty, Ltd. under a contract that expires on Dec. 31, 2001. Marine Drilling Companies Inc. is an offshore drilling contractor with a fleet of 17 offshore drilling rigs consisting of 15 jackups, one of which is currently configured as an accommodation unit and two semi-submersibles located in the U.S. Gulf of Mexico and certain international markets. The Company also operates one semi-submersible rig pursuant to a bareboat charter. This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities or events the company believes will or may occur in the future are forward-looking statements. Such statements are subject to a number of uncertainties that are discussed in the company's most recent Forms 10-K and 10-Q. Investors are cautioned that actual results may differ materially from those projected in the forward-looking statements. For online information about Marine Drilling Companies Inc. visit mardril.com. CONTACT: Marine Drilling Companies Inc., Sugar Land T. Scott O'Keefe, 281/243-3000