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OMB APPROVAL
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- -------- OMB Number: 3235-0104
FORM 3 Expires: April 30, 1997
- -------- Estimated average burden
hours per response .... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a)
of the Public Utility Holding Company Act of 1935 or Section 30(f)
of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Sveaas Christen
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(Last) (First) (Middle)
Ovre Slottsgt. 27, N-0128
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(Street)
Oslo 1, Norway
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
05/23/96
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Cliffs Drilling Company
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5. Relationship of Reporting Person to Issuer:
(Check all applicable)
Director X 10% Owner
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Officer Other (Specify
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6. If Amendment, Date of Original (Month/Day/Year)
<TABLE>
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TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 5)
(Instr. 5)
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<S> <C> <C> <C>
Common Stock 1,153,528* I By Viking Supply Ships A.S
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1473 (8/92)
</TABLE>
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<TABLE>
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deri- ative
vative Security:
Security Direct
------------------------------------------------- (D) or
Date Expira- Amount or Indirect (I)
Exercis- tion Title Number (Instr. 5)
able Date of Shares
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<S> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
* Beneficial Ownership is specifically disclaimed pursuant to Rule 16a-1(a)(4).
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ * 06/03/96
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**Signature of Reporting Person Date
* William Mark Young Upon Authority of
Viking Supply Ships A.S
Note. File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
AUTHORIZATION
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The undersigned, Christen Sveaas, hereby authorizes N.L. Stevens III and
William Mark Young to execute any Form 3, Form 4, or Form 5 to be filed with
the Securities and Exchange Commission with respect to Cliffs Drilling Company
for a period of one year from the date hereof.
Date: June 3, 1996
/s/ Christen Sveaas
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CHRISTEN SVEAAS
