INVESTOR HAS FIVE PCT OF SAGE DRILLING <SAGE>
Arthur Appleton, a Chicago investor,
told the Securities and Exchange Commission he has acquired
39,000 shares of Sage Drilling Co Inc, or 5.1 pct of the total
outstanding common stock.
    Appleton said he bought the stock for 116,554 dlrs for
investment purposes.
    Depending on several circumstances, Appleton said he may
buy more Sage common shares, or sell some or all of his current
stake.
 Reuter
