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
May 21, 1997
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 (Commission File (I.R.S. Employer
jurisdiction Number) Identification
of incorporation) 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 May 21, 1997, American Oilfield Divers, Inc.
("Registrant"), announced that Kevin C. Peterson has
been named Executive Vice President and Director of
the Registrant and President of the Registrant's
technology group.
Item 7. Financial Statements and Exhibits.
(a) No financial statements are filed with this
report.
(b) Exhibits.
99.1 Press release issued by American
Oilfield Divers, Inc. on May 21, 1997
announcing that Kevin C. Peterson has
been named Executive Vice President
and Director of the Registrant and
President of the Registrant's
technology group.
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 and
Chief Financial Officer
Dated: May 27, 1997
<PAGE>
EXHIBIT INDEX
99.1 Press release issued by
American Oilfield Divers, Inc. on
May 21, 1997 announcing that Kevin
C. Peterson has been named
Executive Vice President and
Director of the Registrant and
President of the Registrant's
technology group.
EXHIBIT 99.1
NEWS RELEASE
For further information contact:
Greg Rosenstein Cathy Green
Manager of Investor Relations Chief Financial Officer
(713) 430-1100 (713) 430-1100
FOR IMMEDIATE RELEASE
WEDNESDAY, MAY 21, 1997
AMERICAN OILFIELD DIVERS NAMES KEVIN C. PETERSON
EXECUTIVE VICE PRESIDENT OF AOD, AND PRESIDENT OF
AOD's TECHNOLOGY GROUP
Houston, TX -- American Oilfield Divers, Inc.
(Nasdaq: DIVE) announced today that Kevin C.
Peterson, President and Chief Executive Officer of
Coflexip Stena Offshore, Inc., has been named
Executive Vice President of AOD, and President of
AOD's technology group. Peterson will oversee the
development of AOD's growing technical services group
worldwide, which includes the development of Hard
Suits Inc. Peterson will also serve as a Director of
AOD for a term expiring in 1998.
"We are extremely pleased to be adding someone of
Kevin's caliber to our senior management team," said
Rod Stanley, President and Chief Executive Officer of
American Oilfield Divers. "His more than 20 years of
experience and proven leadership skills in the area
of remote intervention will fit well with our
previously stated strategies of expanding into
deepwater and international markets. To make those
strategies succeed, we want to develop technical
solutions to satisfy our clients' needs and add top-
notch personnel to manage these functions. The
addition of Kevin's dynamic personality and industry
expertise represents an important step, and will
assist us in attracting other capable personnel.
Going forward, we expect Kevin to also assist in
other areas of the Company."
As President and CEO of Coflexip Stena Offshore,
Inc., the U.S. subsidiary of Coflexip Stena Offshore
Group (Nasdaq: CXIPY), Peterson was responsible for
managing the Company's U.S. offshore businesses,
including Perry Tritech Inc., a manufacturer of ROVs,
and DUCO Inc., a manufacturer of control umbilicals
(underwater cables that carry hydraulic, electrical
or data signals).
At Perry Tritech, Inc., Peterson served as General
Manager International Group from 1984-90, and
President and CEO from 1990-97. Under Peterson's
tenure as President and CEO, the company's revenue
grew from approximately $3 million to $30 million.
In addition, Peterson managed sales, marketing and
customer service efforts, and developed support
services for sales and service of Perry Tritech's
products worldwide. Perry Tritech was acquired by
Coflexip Stena Offshore Group in December 1992.
From 1980-84, Peterson was Vice President-General
Manager of JERED/Oceaneering International, Inc. As
General Manager for Oceaneering, he managed the
company's Americas Region fleet of ROVs, atmospheric
diving systems and survey groups, which generated
revenue of between $15 million and $25 million
annually. Prior, Peterson co-founded and co-owned
JERED, Inc., where he was responsible for offshore
ROV and AWS operations. JERED was later acquired by
Oceaneering International.
American Oilfield Divers, Inc., is a leading
provider of subsea services and related products,
including diving, 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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