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

To: shust who wrote (35329)	1/18/1999 6:51:00 PM
From: Dragon 1	Respond to of 95453

To all, more bad news. Re: SDC received notice of contract termination. Monday January 18, 12:24 PM Eastern time Company Press Release Santa Fe International Corporation Receives Contract Termination Notice Dallas--(BUSINESS WIRE)--Jan. 18, 1999--Santa Fe International Corporation (NYSE:SDC) reports that one of its wholly owned subsidiaries received a notice of termination of a drilling contract from Occidental Petroleum of Qatar Ltd., a unit of Occidental Petroleum Corporation (NYSE:OXY). The contract concerns Rig 127, a 250' cantilever jackup rig located offshore Qatar. The contract with Occidental was for a term of one year. The contract provides for an early termination payment of 2.4 million, which equates to approximately 88 of the cash flow which would have been earned under the contract. 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 32 land drilling rigs and is a provider of drilling related services to the petroleum industry, including third party rig operations, incentive drilling, and drilling engineering and project management services. The Company currently operates in 16 countries throughout the world. Statements made in this document that state the Company's or management's intentions, hopes, plans, estimates, beliefs, expectations, anticipations or predictions of the future and words of similar import are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors with respect to such forward-looking statements, including risks and uncertainties that could cause actual results to differ materially from the Company's expectations are disclosed from time to time in the Company's SEC filings including but not limited to the Company's Prospectus dated June 9, 1997, incorporated in Registration Statement No. 33-66912 on Form F-1, the Company's Form 20-F report for the six months ended December 31, 1997, and the Company's Form 6-K report for the quarter ended September 30, 1998. Copies of these filings may be obtained by contacting the Company or the SEC. Contact: Santa Fe International Corporation Richard Hoffman, 972/701-7950 Fax: 972/701-7892

To: shust who wrote (35329)	1/18/1999 8:16:00 PM
From: dealmakr	Read Replies (2) \| Respond to of 95453

shust, Who in your opinion would make the best matches for GLM? Strong balance sheet candidates maybe MRL&ESV? Dave

To: shust who wrote (35329)	1/18/1999 9:10:00 PM
From: SliderOnTheBlack	Respond to of 95453

DO buying GLM is the most common sense merger on the horizon imho. Perfect fit; DO has huge cash, large fleet, CEO Rose comes home again and the merger makes it #1. The only other ''fit'' would be with FLC - with FLC's debt - ifffy at best, but a monster would be created. Here is my matchmaking... just pontificating here <VBG>... DO & GLM FLC buys PDE RIG gets bought by SLB - in the ''play'' of the decade ! RDC & ESV say I do... Palmer & Rainwater - an Oilman's Drilling Co... NBR buys GW, then UTI NE buys MRL SDC buys ATW