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WEATHERFORD INTERNATIONAL INCORPORATED AND TUBOSCOPE VETCO INTERNATIONAL CORPORATION CONTINUE NEGOTIATIONS OF MERGER

 HOUSTON, Aug. 17 /PRNewswire/ -- Weatherford International Incorporated (AMEX: WII) and Tuboscope Vetco International Corporation (NASDAQ: TUBO)(TVI) announced today that after continuing negotiations with respect to the proposed merger of Weatherford and TVI, the parties have not been able to agree definitively on the exchange ratio previously announced. The parties are continuing negotiations regarding their differing views as to relative values in the stock for stock merger proposal, but there can be no assurance at this time that a definitive agreement will be reached.
 Weatherford and TVI previously announced the signing of a letter of intent on July 15, 1993.
 Weatherford is a Houston-based diversified international energy service and manufacturing company that provides tubular running services, fishing and rental tool services, cementation products and other specialized equipment to the oil and gas industry.
 TVI is the world's foremost supplier of tubular coating and inspection services to the oilfield industry. Based in Houston, the company also supplies in-house inspection for oil and gas pipelines, and sells and leases in-line inspection equipment to makers of oil country tubular goods.
 Weatherford trades on the American Stock Exchange under the symbol WII. TVI is traded on the NASDAQ under the symbol TUBO.
 -0- 8/17/93
 /CONTACT: Norman W. Nolen, chief financial officer of Weatherford International, 713-439-9400; or Ronald L. Koons, chief financial officer of Tuboscope Vetco International, 713-799-5100/
 (WII TUBO)


CO: Weatherford International Incorporated; Tuboscope Vetco
 International Corporation ST: Texas IN: OIL SU: TNM


SH -- NY033 -- 3476 08/17/93 10:48 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
Words:250
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