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DI INDUSTRIES, INC. ANNOUNCES GEOTHERMAL DRILLING LETTER OF INTENT FOR MEXICO AND CENTRAL AMERICA

 DI INDUSTRIES, INC. ANNOUNCES GEOTHERMAL DRILLING
 LETTER OF INTENT FOR MEXICO AND CENTRAL AMERICA
 HOUSTON, Sept. 1 /PRNewswire/ -- DI Industries, Inc. (AMEX: DRL), announced today that its wholly owned subsidiary, DI International, Inc., had entered into a Letter of Intent with Pefensa, of Mexico, to conduct geothermal drilling in Mexico and the Central Americas. Perfensa currently has on-going operations in Guatemala whose benefits would become part of this new venture. The new venture will be formed as DI/Perfensa, Inc. DI's president, Max Dillard, stated that this is consistent with DI's on-going marketing efforts to place surplus equipment and assets in Central and South America.
 The company recently moved two rigs to Argentina and is currently negotiating other potential joint ventures for other South American countries. Dillard said DI has 52 rigs operational in the United States and an additional 48 rigs available for overseas deployment.
 DI Industries, Inc., headquartered in Houston, is a holding company whose subsidiaries are engaged primarily in the businesses of providing onshore contract drilling and workover services, commercial drilling, oil and gas exploration and production and sales and services.
 -0- 9/1/92
 /CONTACT: David J. Cone, financial vice president of DI Industries, Inc., 713-874-0202/
 (DRL) CO: DI Industries, Inc. ST: Texas IN: OIL SU:


TS -- NY022 -- 5307 09/01/92 09:57 EDT
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Publication:PR Newswire
Date:Sep 1, 1992
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