<PAGE>
 
and when incurred, plus an administrative fee of 2.5% .  In fiscal 1994, the
Company billed Norex Drilling $104,000 under this arrangement, which was
terminated in December 1994.

          For information on Mr. Mackin's Consulting and Retirement Agreement
with the Company, see, "Compensation of Directors," above.

I

TEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

          The following persons were known by Zapata to be
the beneficial owners of more than 5% of Zapata's voting securities:

<TABLE>
<CAPTION>
 
                                                                 SHARES OWNED       PERCENT
       TITLE OF CLASS                NAME AND ADDRESS            BENEFICIALLY       OF CLASS
- ------------------------------  ---------------------------  ---------------------  --------
<S>                             <C>                          <C>                    <C>
Common Stock..................  The Malcolm I. Glazer Trust        10,395,384(1)     32.8%
                                and Malcolm I. Glazer
                                1482 South Ocean Boulevard
                                Palm Beach, Florida
 
                                Norex America, Inc.,                3,139,224(2)      9.9
                                P.O. Box 429
                                Hamilton, Bermuda
 
                                Peter M. Holt                       2,822,628(3)      8.9
                                c/o Holt Company of Texas
                                S.W.W. White at Holt Avenue
                                San Antonio, Texas
 
$2 Preference Stock...........  Larry A. Reiten                           150         5.7
                                Route 1, Box 297
                                Bayfield, Wisconsin
</TABLE>

 
________________
(1)  Based on information contained in a Schedule 13D, as amended as of October
     25, 1994, which was filed with the Securities Exchange Commission (the
     "Commission") by The Malcolm I. Glazer Trust (the "Trust") and Mr. Glazer.
     The Schedule 13D states that Mr. Glazer contributed all of his shares of
     Common Stock to the Trust and that, as trustee and beneficiary of the
     Trust, Mr. Glazer is a beneficial owner of the shares of Common Stock held
     by the Trust.

(2)  Includes 260,000 shares held by Norex Plc, which owns approximately 46.7% 
     of the outstanding capital stock of Norex America.

                                       10