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.