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

To: Roebear who wrote (68206)	6/14/2000 12:21:00 PM
From: The Ox	Read Replies (2) \| Respond to of 95453

Hi Roebear. Can gold keep movin up? How soon do you think we will see $300? Some patch news: Noble Drilling Announces Formation of Joint Venture With CROSCO HOUSTON, June 14 /PRNewswire/ -- Noble Drilling Corporation (NYSE: NE) announced today that it has formed a joint venture with CROSCO, Integrated Drilling & Well Services Company ("CROSCO"), a wholly owned subsidiary of INA- Industrija nafte d.d. Zagreb. The joint venture owns and operates the PANON, a 300-foot jackup rig. Noble and CROSCO each own 50% of the venture. Noble will manage the upgrade, marketing and operation of the rig, and CROSCO will provide key operations and technical personnel, including a significant portion of the rig crews. Following the planned mobilization of the PANON from the Mediterranean to the Arabian Gulf, the rig will be upgraded from its current slot configuration to a cantilevered unit. It is estimated that the PANON will be available for service in early 2001, at which time the joint venture would pursue contract opportunities worldwide. Noble Drilling Corporation is a leading provider of diversified services for the oil and gas industry worldwide. Contract drilling services are performed with our fleet of 49 offshore drilling units located in key markets worldwide. The company's fleet of floating deepwater units consists of nine semisubmersibles and three dynamically positioned drillships, seven of which are designed to operate in water depths greater than 5,000 feet. The company's fleet of 34 jackup rigs includes 21 premium units that operate in water depths of 300 feet and greater, four of which operate in water depths of 360 feet and greater. In addition, the fleet includes three submersible units. Eleven of the company's units are capable of operating in harsh environments. Over 60 percent of the fleet is currently deployed in international markets, principally including the North Sea, Africa, Brazil, the Middle East and Mexico. Noble also provides engineering and production management services and turnkey drilling services. The company's common stock is traded on the New York Stock Exchange under the symbol "NE". SOURCE Noble Drilling Corporation CO: Noble Drilling Corporation; CROSCO, Integrated Drilling & Well Services Company; INA-Industrija nafte d.d. Zagreb ST: Texas IN: OIL SU: JVN 06/14/2000 12:15 EDT prnewswire.com