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OMB Number 3235-0362
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported
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1. Name and Address of Reporting Person
Goforth David Eugene
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(Last) (First) (Middle)
4201 Southwest Freeway
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(Street)
Houston, Texas 77027
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
SEC
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
March 1997
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Senior Vice President
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7. Individual or Joint/Group Reporting
(Check applicable line)
__X__ Form Filed by One Reporting Person
______ Form Filed by More than One Reporting Person
<PAGE>
<TABLE>
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<CAPTION>
1.Title of Security 2.Trans- 3.Trans- 4.Security Acquired (A) 5.Amount of 6.Ownership- 7. Nature of
(Instr.3) action action or Disposed of (D) Securities Form Indirect
Date Code (Instr.3, 4 and 5) Beneficially Direct(D) Beneficial
(mm/ (Instr.8) Owned at End or Indirect (I) Ownership
Day/ of Issuer's (Instr.4) (Instr. 4)
Year) Fiscal Year
(Instr. 3 & 4)
Amount (A)or
(D) Price
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<S> <C>
Common Stock 5/24/96 A 2,614 A 15.10 7,955 D
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</TABLE>
<PAGE>
<TABLE>
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<CAPTION>
1.Title 2.Conver- 3. Trans- 4. Trans- 5 Number 6. Date Exercis 7.Title 8. Price 9. Number 10. Owner 11.Nature
of sion or action action of able and and of of ship of of
Deriva- Exercise Date Code- Deriva- Expiration Amount Deriva- Deriva- Deriva- Indirect
tive Price of MM/DD/YY (Inst 8) tive Date of Under- tive tive tive Benefi-
Security Deriva- Securities MM/DD/YY lying Security Securities Security cial
(Inst 3) tive Acquired(A) Securities (Instr5) Benefi- Direct(D) Owner-
Security or (Instr. 3 cially or Indirect ship
Disposed(D) and 4) (Instr4) (I)(Instr4) (Instr4)
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(A)(D) Date Expira- Title Amount
Exer- tion or # of
cisable Shares
<S> <C>
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Incentive Common
Stock Options 10.95 10/15/96 A 2,625 10/15/97 10/15/01 Stock 2,625
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Incentive Common
Stock Options 10.95 10/15/96 A 2,625 10/15/98 10/15/01 Stock 2,625
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Incentive Common
Stock Options 10.95 10/15/96 A 2,625 10/15/99 10/15/01 Stock 2,625
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Incentive Common
Stock Options 10.43 Anytime 3/10/00 Stock 5,512
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13,387 D
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</TABLE>
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Explanation of Responses:
By /s/ David Eugene Goforth May 9, 1997
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
