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DUAL DRILLING COMPANY FILES FOR INITIAL PUBLIC OFFERING

 DALLAS, June 17 /PRNewswire/ -- DUAL DRILLING COMPANY announced today the filing of a registration statement with the Securities and Exchange Commission, relating to the initial public offering of 6,250,000 shares of its Common Stock, at approximately $16 to $18 per share.
 The Company is a domestic and international offshore drilling contractor with a current rig fleet of 20 offshore drilling rigs, comprised of 10 independent leg cantilever jackup drilling rigs and 10 platform drilling rigs. The Company was formed in 1951, purchased by Bechtel Investments, Inc. in 1980 and sold to Mosvold Shipping AS, a Norwegian corporation, in 1990.
 Merrill Lynch & Co., NatWest Securities Limited and Howard, Weil, Labouisse, Friedrichs Incorporated are managing the offering. Copies of the prospectus may be obtained from Merrill Lynch & Co., 250 Vesey, New York, NY 10281, NatWest Securities Limited, 135 Bishopsgate, London EC2M 3UR, and Howard, Weil, Labouisse, Friedrichs Incorporated, 1100 Poydras, Suite 900, New Orleans, LA 70163.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 -0- 6/17/93
 /CONTACT: L.H. Dick Robertson, president and CEO, or W. Allen Parks, executive vice president and CFO, or Larry E. Hanks, corporate counsel, all for Dual Drilling Company, 214-373-6200/


CO: Dual Drilling Company ST: Texas IN: OIL SU: OFR

LR -- NY072 -- 3157 06/17/93 14:06 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
Words:304
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