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

To: ItsAllCyclical who wrote (53599)	10/26/1999 7:16:00 PM
From: The Ox	Read Replies (1) \| Respond to of 95453

Transocean Offshore Inc. and Schlumberger Limited Set Date for Shareholder Meetings HOUSTON, Oct. 26 /PRNewswire/ -- Transocean Offshore Inc. (NYSE: RIG) and Schlumberger Limited (NYSE: SLB) announced today that they have set Friday, December 10, 1999 as the date for shareholder meetings to consider and vote on issues pertaining to Schlumberger's proposed spin-off of Sedco Forex Holdings Limited and the merger of Sedco Forex with Transocean Offshore Inc. Shareholders of record of the respective companies as of the close of business on November 1, 1999 will be entitled to receive notice of and to vote at the meetings. Transocean Offshore also announced that it filed today a registration statement with the U.S. Securities and Exchange Commission relating to the Transocean Offshore ordinary shares to be issued in the merger. The registration statement has not yet become effective. The ordinary shares covered by the registration statement may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state in which such offer solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Transocean Offshore Inc. is an international offshore drilling company engaged in contract drilling of oil and gas wells. 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. Schlumberger is a worldwide leader in technical services with 64,000 employees and operations in over 100 countries. In 1998, revenue was $11.82 billion. SOURCE Transocean Offshore Inc. CO: Transocean Offshore Inc.; Schlumberger Limited; Sedco Forex Holdings Limited ST: Texas, New York IN: OIL SU: TNM 10/26/1999 19:09 EDT prnewswire.com

To: ItsAllCyclical who wrote (53599)	10/26/1999 7:17:00 PM
From: Tomas	Respond to of 95453

Bloomberg Energy News: After floor trading ended, the API said crude oil supplies rose 3.4 million barrels last week to 304.89 million barrels, leaving them 30.84 million barrels lower than a year ago. While the weekly rise was more than three times greater than the upper end of analysts' average expectations, the effect on prices in electronic trading was limited, because most of the increase was concentrated in states west of the Rocky Mountains. That region is less important to Nymex traders since West Coast oil isn't easily transported to the rest of the nation by pipeline. In addition, the report showed larger-than-expected declines in inventories of both gasoline and heating oil.