SERVICE SECTOR / Sator Capital Inc. Corporate Update
SATOR CAPITAL INC.
ASE SYMBOL: LWT
FEBRUARY 13, 1998
CALGARY, ALBERTA--SATOR CAPITAL INC. ("LWT", ASE)
In an effort to enhance LWT's communication with shareholders and
other interested parties, Sator will endeavour to publish
operating highlights on a regular basis.
Since our WALS testing period in November/December 1997, LWT has
made daily improvements in its operating system. Our threefold
plan since January 1998 has been to:
1. MOVE COMMERCIAL WITH THE COMPENSATED NEUTRON/GAMMA RAY
- After initial difficulty with upgraded firmware for the CN/GR
tool, we are on line with jobs for three Calgary based companies.
All jobs should be completed by the end of February, 1998.
- We plan to have two job capability by March 1, 1998 and will be
adding a field engineer to our team. Petrophysicist, Chris
Taggart of Calgary, has been contracted to assist in sales and log
quality control issues.
2. CONTINUE WITH DEVELOPMENT OF DRILL COLLARS
- We now have 4 3/4" and 6 3/4" steel drill collars for
neutron/gamma ray logging. Our composite collar is currently
being tested in Canada with final testing to be done on a test
well to be drilled in Oklahoma, March 10, 1998.
- Our composite leader, Brian Spencer, was awarded the CMA/SME
J.H. "Jud" Hall Composites Manufacturing Award for outstanding
advances in composite manufacturing.
- With our advances in the composite drill collar, we have been
asked to evaluate the feasibility of building a composite casing
for monitor wells in a Middle East flooding project.
3. CONTINUE WITH DEVELOPMENT OF A 1 11/16" O.D. TRI-INDUCTION TOOL
- Presently we are interfacing a medium induction tool to our
downhole power and memory module for testing with our transparent
drill collar by April 1, 1998. The tri-induction will follow.
- We have been selected to present an LWT technology paper at the
World Oil Symposium in Houston and the 49th Technical Meeting of
the Petroleum Society in Calgary.
- Our LWT depth system has resulted in some rig sensor technology
that accurately measures weight in the block or on the bit. Thus
far fifty-five sensors have been purchased by drilling
contractors.
The next round of Western Altas testing for the LWT system is
scheduled for May/June, 1998. |
