Activities of subsidiary company, Taylor Rig
Westrend Natural Gas Inc WRN
Shares issued 18,885,569 Jan 16 close $0.56
Mon 19 Jan 98 News Release
Mr Mark Roberts reports
Following are the activities for the week of January 19 1998 at Taylor Rig, LLC, a subsidiary of the company. On Monday, Taylor will be delivering a carrier to GEFCO. A carrier is a large truck manufactured by Taylor Rig and used in the construction of its mobile drilling and service rigs. GEFCO is one of the three largest water well drilling rig manufacturers in the world and needed a new supplier of these carriers because the supplier was too busy to service its account. GEFCO ordered two carriers from Taylor in order to ascertain the ability of Taylor to produce a quality carrier on time. The management of GEFCO has recently expressed its satisfaction of the quality of the carriers that have been built by Taylor and will be meeting with the management of Taylor to discuss building all of Taylor's
carriers for its 1998 business. Last year GEFCO built 60 water well drilling rigs with each carrier costing approximately $100,000 and building 60-80 water well drilling rigs this year. The company feels that Taylor will be able to negotiate a favourable contract with GEFCO to build all of its carriers.
This ability to build carriers for other companies has been part of the strategic plan for the continuing development of Taylor Rig. The carrier business enables Taylor to diversify into the manufacturing of carriers for industries non-affiliated with the oil and gas industry. Some of the applications for these large carriers, which are not built by the major truck or automobile manufacturers, are cement trucks, garbage trucks, mining trucks, water well drilling equipment, bucket trucks and numerous other applications. This industry has endless possibilities and Taylor has little competition in the size and quality of carrier it manufactures.
Further, if successful in these negotiations, the company will expand Taylor's operations by starting a new division of Taylor called Taylor Carriers. This new division will have its own manufacturing facility in Tulsa, OK, separate and apart from Taylor Rigs, and will be responsible for the production for all of the carriers for Taylor Rig. This will enable Taylor Rig to use its current facilities to manufacture more service and drilling rigs by having the complete carrier delivered, in order to
complete the service rig package in a lesser period of time. Taylor Carriers will then expand its carrier business through advertisement and a new sales force.
On Tuesday, three representatives from a service rig operating company in Hobbs, New Mexico, will be meeting with Oscar Taylor concerning the possibility of ordering a new 660 service rig. This company was one of the many operators that attended the Oil and Gas Show in Lafayette, LA last year.
On Thursday of this week, a representative of Radian, of Indonesia, will be at Taylor Rig's offices to inspect the three 350's and one 550 series drilling rigs that are currently under construction for Radian. These four rigs will be completed and shipped to Indonesia in the next 30-45 days, Further, the representative is expected to discuss with Oscar Taylor, the additional order of 550 and 850 series drilling rigs for Radian's contract in Indonesia.
Any Questions call Roger Fullerton @ 612-929-7243
E-mail : rfull@ix.netcom.com
Have a nice day everyone |
