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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: pz who wrote (656)	3/16/1998 11:23:00 PM
From: Paul Moerman	Read Replies (1) \| Respond to of 2282

Paul: This was posted on DJ this a.m. per my Investor Insight service: Global Marine/Exxon Pact -2: Will Build A New Drillship HOUSTON (Dow Jones)--Global Marine Inc. (GLM) received a deep-water drilling contract from Exxon Exploration Co. that calls for Global Marine to build a second Glomar 456-class dynamically-positioned drillship. In a press release Monday, Global Marine, an offshore contract drilling company, said it expects revenues of $208 million over a three-year period from the contract. The ship is scheduled to be delivered in the first quarter of 2000 and is outfitted to work in up to 8,000 feet of water. The new ship will increase Global Marine's deep water fleet to 10 ships. Global received a drilling contract March 2 that resulted in construction of a first drillship. The ship's cost is expected to be more than $300 million. Exxon Exploration Co. is a unit of Exxon Corp. (XON).