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

To: The Ox who wrote (71803)	8/28/2000 10:38:43 AM
From: The Ox	Read Replies (1) \| Respond to of 95453

Update on ENSCO Jackup Rig Damage DALLAS, Aug. 28 /PRNewswire/ -- ENSCO International Incorporated (NYSE: ESV) announced on August 7, 2000, that its harsh environment jackup rig, the ENSCO 101, had sustained damage while moving onto a drilling location in the U.K. sector of the North Sea, and that the rig was then en route to a shipyard to assess and repair damage. The incident investigation has now been completed, and repairs have commenced. While jacking the rig out of the water, a foundation failure and soil flow occurred in the seabed under one of the legs. This foundation failure caused the rig's legs to experience abnormal stresses, resulting in localized damage to the hull and legs. The assessment indicated damage that was more extensive than originally anticipated. Extent of damage and delivery of high strength material to effect repairs could result in the rig being out of service until late in the fourth quarter. The Company expects that the cost of repairing the damage will be covered by insurance. ENSCO, headquartered in Dallas, Texas, provides contract drilling and marine transportation services to the international petroleum industry.