CDN. Oil/Gas Cos. - Shareholder Maximization Message Board

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Gold/Mining/Energy : CDN. Oil/Gas Cos. - Shareholder Maximization

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To: Richard Saunders who started this subject	3/20/2001 10:15:44 AM
From: Richard Saunders	of 56

another servicer CAT-tse Cathedral Energy Services newswire.ca Outlook The outlook for Cathedral Energy Services Ltd., and the oil & gas services sector has never been stronger. With sustained oil & gas commodity price strength, industry observers forecast record levels of drilling activity in Canada in 2001. Looking ahead we anticipate growing demand for our services, as oil and natural gas producers reinvest record cash flow using directional and horizontal drilling to improve economics. Historical growth has been generated from increasing customer demand for well planning and directional and horizontal drilling services from an increasing customer base. We anticipate future growth from increasing our existing capacity combined with the addition of two new technologies. The first technology is a positive pulse retrievable MWD system, with field- testing scheduled for the second quarter. The addition of this tool will allow the company to broaden its client base to include customers to whom retrievability is important. The second technology is an EMWD (electro magnetic) system. Cathedral is working with a key supplier in the development of an EMWD system. This tool is currently at the prototype level and field- testing is expected to begin during the second quarter. Both the positive pulse MWD and the EMWD tools are both designed on our existing MWD platform offering the advantage of upgrading existing mud pulse systems at significantly lower costs than the purchase of new systems. Expansion of our existing job capability together with the addition of these technologies will enhance the companies profile in the industry and will enable Cathedral to offer a broader range of services to customers. We continue to review strategic merger and acquisition opportunities that would result in enhanced shareholder value.

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