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Pool Energy Makes Several Offshore Investments Pool Energy Services Co. announced letters of intent for two international transactions. It entered into a letter of intent to acquire the 51 percent interest (that it does not already own) in its Malaysia joint venture, Antah Drilling Sdn. Bhd. Antah Drilling's assets include a state-of- the-art, 2,000-hp platform drilling rig and a platform workover rig. The platform drilling rig is sched- uled to commence operations off- shore Australia in the third quar- ter of 1996 for Esso Australia Ltd. under a three-year contract. The platform workover rig is currently working offshore Malaysia for Esso Production Malaysia Inc. The company has also entered into a letter of intent to acquire a 51 percent interest in a newly formed Argentinian corporation that will own and operate nine land drilling rigs and 11 land workover rigs. The two transac- tions are subject to, among other things, the negotiation of definitive agreements. "In addition to the scheduled commencement of operation of a 2,000-hp platform drilling rig in the Gulf of Mexico in the third quarter of this year, the recently announced an agreement to acquire the operating assets of Western Oil Well Service Co., and the recently consummated pur- chase of our partner's interest in Pool Santana Limited, the transac- tions announced should also enhance the company's results in the future," said Jim Jongebloed, chairman, president and CEO. Company Initiates Cruise Operation Between California And Mexico International Basic Resources, Inc.'s subsidiary, Ensenada Cruiseport Village, S.A. de C.V., has entered into a memorandum of understanding with Piscadera Management Co. N.V. for the com- mencement of daily cruise ship ser- vice between San Diego and Ensenada, Baja California, Mexico. Piscadera, a Netherlands Antilles company with hotel and gaming operations in Curacao, has con- cluded negotiations to charter its first cruise ship and expects to begin daily service between San Diego and Ensenada on August 1, 1996. The ship's activities will include gaming as well as food and beverage service. Ensenada Cruiseport Village has received the approval of the Ensenada Port Authority for a con- ceptual master plan for a cruise- port village in Ensenada, designed to simultaneously accommodate four of the largest cruise ships. The daily cruise service is expect- ed to generate at least 340 port calls per year at Cruiseport Ensenada. Ensenada Cruiseport Village, S.A. de C.V. has agreed to enter into the five-year agreement with Piscadera Management Co., N.V for joint promotional activities for the daily service and passenger activities during Cruiseport Ensenada port calls, in addition to the daily cruise service. Steamers' Charters Latest Containership Steamers Maritime Holdings Limited has chartered its latest containership to Swiss-based main line operator Norasia. The 605- TEU Rajah Brooke will be plying in the Arabian Gulf during the one- year charter, which was scheduled to commence in June. Classed by Germanischer Lloyd, Rajah Brooke is equipped with two 40-MT cranes and 50 reefer points for refrigerat- ed containers. The 7,800-dwt ship, capable of a speed of 16.5 knots, has three cargo holds fitted with foldable hatch covers. Rajah Brooke is the first in a series of ves- sels ordered by Steamers in its new initiative to invest in container feeder ships. The company has an additional eight container vessels under construction for delivery in 1997 and 1998. Sailors from all over the world are united by one great passion. And by one great communications company. The passion for the sea drives men to sailing: it's better to know that one can rely on safe communication links with shore stations, with other vessels, with the various units of the fleet. TELECOM ITALIA, the company which operates telecommunications in Italy, now also manages services previously provided by SIRM, concerning maritime radio links and assistance to navigation, guaranteeing communications and radio traffic, also via satellite. TELECOM ITALIA's offer for the sea further includes sale, installation, maintenance and service for equipment and integrated navigation systems, all complying with the most recent national and international regulations and projected according to the most advanced technologies. Now, merchant ships, fishing boats and pleasure crafts have something new in common: TELECOM ITALIA's security in maritime communications. A safe harbour for maritime communications. Formore information,please call: Tel. +39 6 59614.1 - Telex610293-616423 TELECOM W ITALIA July, 1996 « "i Circle 280 on Reader Service Card
