FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP AND SECURITIES
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|1. Name and Address of |2. Date of Event Re- |4. Issuer Name and Ticket or Trading Symbol NASDAQ |
| Reporting Person | quiring Statement | |
| | (Month/Day/Year) | Cal Dive International, Inc. - "CDIS" |
| Owen Kratz | 6/27/97 | |
| ---------------------------------- | ----------------- | ---------------------------------------------------------------- |
| (Last) (First) (Middle) |3. IRS or Social Se- |5. Relationship of Reporting Person to Issuer |6. If Amendment, |
| | curity Number of | (Check all applicable) | Date of Original |
| Cal Dive International, Inc. | Reporting Person | | (Month/Day/Year) |
| 13430 Northwest Frwy, Suite 350 | (Voluntary) | [X] Director [X] 10% Owner | |
| ---------------------------------- | | | N/A |
| (Street) | | |---------------------|
| | | [X] Other (give title [ ] Other (specify |7.Individual or Joint|
| | ---------------- | below) below) | /Group Filing (Check|
| Houston, TX 77040 | | President | Applicable Line) |
| ----------------------------------- | | ------------------------------------- | |
| (City) (State) (Zip) | | |[X]Form filed by 0ne |
| | | | Reporting Person |
| | | |[ ]Form filed by More|
| | | | than One Reporting|
| | | | Person |
| |------------------------------------------------------------------------------------------|
| | |
| | Table I -- Non-Derivative Securities Beneficially Owned |
|---------------------------------------|------------------------------------------------------------------------------------------|
|1. Title of Security |2. Amount of Securities | 3. Ownership | 4. Nature of Indirect Beneficial |
| (Instr. 4) | Beneficially Owned | Form: Direct (D) | Ownership |
| | (Instr. 4) | or Indirect (I) | (Instr. 5) |
| | | (Instr. 5) | |
|---------------------------------------|--------------------------------|----------------------|----------------------------------|
| Common Stock | 1,440,929 | (D) | |
|---------------------------------------|--------------------------------|----------------------|----------------------------------|
| | | | |
|---------------------------------------|--------------------------------|----------------------|----------------------------------|
| | | | |
|---------------------------------------|--------------------------------|----------------------|----------------------------------|
| | | | |
|---------------------------------------|--------------------------------|----------------------|----------------------------------|
| | | | |
|---------------------------------------|--------------------------------|----------------------|----------------------------------|
| | | | |
|---------------------------------------|--------------------------------|----------------------|----------------------------------|
| | | | |
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Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, convertible securities)
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|1. Title of Derivative |2. Date Exer- |3. Title and Amount of |4. Conver- |5. Ownership |6. Nature of In- |
| Security (Instr. 4) | cisable and | Securities Underlying | sion or | Form of | direct Beneficial|
| | Expiration | Derivative Security | Exercise| Derivative | Ownership |
| | Date | (Instr. 4) | Price of| Security: | (Instr. 5) |
| | (Month/Day/ | | Deri- | Direct (D) | |
| | Year) | | vative | or Indirect| |
| | | | Security| (I) | |
| |-----------------|--------------------------------| | (Instr. 5) | |
| | | | | Amount | | | |
| |Date |Expira- | | or | | | |
| |Exer- |tion | Title | Number | | | |
| |cisable |Date | | of | | | |
| | | | | Shares | | | |
|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
| Option | various| 4/15/02| Common Stock | 250,000 | $9.50 | (D) | |
|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
| | | | | | | | |
|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
| | | | | | | | |
|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
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|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
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|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
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|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
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|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
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|-------------------------------|--------|--------|--------------------|-----------|-----------|--------------|--------------------|
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Explanation of Responses:
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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 sufficient, Page
See Instruction 6 for procedure. SEC 1473 (3/91)
See Instruction 6 for procedure. SEC 1473 (3/91)
