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Gold/Mining/Energy : Santa Fe International (SDC) -- Ignore unavailable to you. Want to Upgrade?

To: Czechsinthemail who wrote (16)	11/14/1997 2:01:00 AM
From: Christopher Reed	Read Replies (1) \| Respond to of 54

Santa Fe International Corporation Receives Apache Contract Termination Notice What will this do to the value of the stock? DALLAS--(BUSINESS WIRE)--Nov. 13, 1997--Santa Fe International Corporation (NYSE:SDC - news) today reports having received a notice of termination of a drilling contract from Apache Darag Corporation, LDC, an affiliate of Apache Corporation (NYSE:APA - news). The contract concerns the Key Hawaii, a 300' cantilever jackup rig located offshore Egypt. The contract with Apache was for a term of two wells in the Gulf of Suez, approximately a three month period, at a dayrate of $43,000. Richard Hoffman, Santa Fe's Vice President, Investor Relations, stated, ''The notice is being evaluated and we are presently reviewing opportunities for other potential contracts for this rig. Until we thoroughly review these opportunities, it is impossible to determine what, if any, the economic impact will be.'' Santa Fe International Corporation is a leading international offshore and land contract driller. The Company owns and operates a high quality, technologically advanced fleet of 26 marine drilling rigs and 28 land drilling rigs located in 16 countries and is a leading provider of drilling related services to the petroleum industry worldwide.