PRECISION DRILLING CORPORATION Message Board

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Gold/Mining/Energy : PRECISION DRILLING CORPORATION

PD 12.34

-2.6%

Jan 9 9:30 AM EST

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To: oilstks who wrote (142)	1/12/1999 4:56:00 PM
From: csm	Read Replies (1) of 163

The following press release sure moved the price down in a hurry. Does anyone have a sense of the financial impact of this? I bought some PD today at $18.60Cdn and put a stink bid in at $18.05 ($12U.S.)which got picked of. Stuart. ----- Precision Drilling Corp - Precision settles patent infringement suit Precision Drilling Corp PD Shares issued 42,004,358 1999-01-11 close $18.9 Tuesday Jan 12 1999 Mr. J. Blair Goertzen reports The company's subsidiary, Inter-Tech Drilling Solutions, Inc., has reached an out of court settlement with Varco Shaffer, Inc. in its Rotating Blowout Preventer (RBOP) patent infringement suit. Both parties have agreed that the terms of the settlement agreement shall remain confidential, however, it can be disclosed that Shaffer has acknowledged that certain RBOP patents are valid and enforceable. In addition, as part of the settlement, a patent licence with a royalty provision has been issued to Shaffer. The RBOP is a proprietary rotary well control device which is used mainly in underbalanced drilling. UBD enables some wells to be drilled with minimal formation damage. Reducing this damage yields a more productive well. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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