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.