SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
September 4, 1996
Date of Report (Date of earliest event reported)
AMERICAN OILFIELD DIVERS, INC.
(Exact name of Registrant as specified in its charter)
LOUISIANA 0-22032 72-0918249
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
130 East Kaliste Saloom Road
Lafayette, Louisiana 70508
(Address of principal executive offices) (Zip Code)
(318) 234-4590
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
On September 4, 1996, American Oilfield Divers, Inc.
("Registrant") announced that American Inland Divers, Inc., a
subsidiary of the Registrant was awarded a turnkey project by the
Brownsville Navigation District worth between $7.5 milion and $8.0
million.
Item 7.Financial Statements and Exhibits.
(a) No financial statements are filed with this report.
(b) Exhibits.
99.1 Press release issued by the Registrant on September 4,
1996 announcing that a subsidiary of the Registrant was
awarded a project by the Brownsville Navigation District.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
By: /s/ Cathy M. Green
_____________________________
Cathy M. Green
Vice President - Finance
and Chief Financial Officer
Dated: September 12, 1996
NEWS RELEASE
For further information contact:
Greg Rosenstein Cathy Green
Manager of Investor Relations Chief Financial Officer
(318) 234-4590 (318) 234-4590
FOR IMMEDIATE RELEASE
WEDNESDAY, SEPTEMBER 4, 1996
AMERICAN OILFIELD DIVERS' INLAND SUBSIDIARY AWARDED
PORT OF BROWNSVILLE PROJECT
Lafayette, LA -- American Inland Divers, a subsidiary of American Oilfield
Divers, Inc. (NASDAQ: DIVE), announced today that it has been awarded a turnkey
project by the Brownsville (Texas) Navigation District worth between $7.5
million to $8.0 million.
The project, scheduled to begin during the fourth quarter of fiscal 1996 and
end during the third quarter of fiscal 1997, includes, among other things, the
construction of a 600-ft. x 145-ft. cargo dock and an 8-acre cargo storage yard
at the Port of Brownsville.
"A large portion of the Port of Brownsville project will be completed during
the first and second quarters of fiscal 1997," said George C. Yax, Chairman of
the Board, Chief Executive Officer and President of American Oilfield Divers.
"This will help offset the lower activity in the Gulf of Mexico and certain
other inland markets that is traditionally associated with those quarters."
The Port of Brownsville project represents the largest turnkey project ever
awarded to American Inland Divers, and the second largest turnkey project ever
awarded to American Oilfield Divers. The largest turnkey project awarded to AOD
was the Chevron platform abandonment project, which will be completed this month
by American Pacific Marine, the Company's west coast subsidiary.
"Acting as the general contractor on large-scale infrastructure projects with
marine content such as the Port of Brownsville project is an example of the
ideal market niche for our Inland and West Coast Service sector," Yax said.
"The awarding of the Port of Brownsville project to American Inland Divers
further demonstrates the potential of our inland business. This project,
coupled with the Chevron platform abandonment project, is indicative of our
ability to successfully compete in the large, turnkey project market where the
unique combination of general contracting and diving/marine specialties are
required."
American Oilfield Divers is a leading provider of diving services, subsea
projects, marine construction and environmental services to the offshore oil
and gas industry, primarily in the U.S. Gulf of Mexico, U.S. West Coast,
internationally and to certain U.S. inland customers.
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