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

To: Teddy who wrote (17163)	3/30/1998 10:44:00 AM
From: mph	Read Replies (1) \| Respond to of 95453

Teddy: Hadn't heard of OEI, but wish it were my short candidate for this week's contest! mph

To: Teddy who wrote (17163)	3/30/1998 10:57:00 AM
From: diana g	Respond to of 95453

Re: OEI HOUSTON, March 27 /PRNewswire/ -- Ocean Energy, Inc. (NYSE:OEI) announced today the completion of its merger with United Meridian Corporation (NYSE:UMC). At separate meetings held today, the shareholders of both companies approved the stock-for-stock transaction, creating the ninth largest oil and gas independent based on total market capitalization. The combined company is named Ocean Energy, Inc., and is headquartered in Houston, Texas. As a result of the merger, each existing share of OEI common stock was converted into 2.34 shares, while each share of UMC common stock was converted into 1.30 shares of OEI common stock yielding approximately 100 million shares outstanding in total. The company's common stock as adjusted for the exchange ratios will begin trading on the New York Stock Exchange at the opening of business on Monday, March 30, 1998 under the Company's existing ticker symbol "OEI".

To: Teddy who wrote (17163)	3/30/1998 10:59:00 AM
From: drsvelte	Read Replies (1) \| Respond to of 95453

OEI -- Ocean Energy. Last Friday they merged with United Meridian. Stock was selling above 50 at the close. This may have something to do with the merger.