Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: SargeK who wrote (58207)	1/10/2000 1:20:00 PM
From: SargeK	Read Replies (3) \| Respond to of 95453

Clear Station, This is an example of chart/info included in a Post on their message board: clearstation.com; Good luck and Adios SargeK P.S. Thanks Tomas for the pertinent and informative posts you provided over the weekend.

To: SargeK who wrote (58207)	1/11/2000 12:20:00 AM
From: Mark Adams	Respond to of 95453

I've been reluctant to make mention of this stock; it's thinly traded and small cap. But today I saw mention of it on the Yahoo RIG board, which tells me that efforts to promote it to interested parties may be underway. Note that I did take an initial position last week, a massive 100 shares. The stock has decent financial ratios, but more importantly, it's got a story directly related to this sector. This story should be independent of the up's and downs of the GOM rig count, as I think you'll discover as you read this news release from December. Over the past 2 years, participants of this group have provided great info, especially when it comes to understand the players in the sector and their interrelationships. Identifying other niche players such as this would go a long way to sustaining this historical value. TETRA Technologies, Inc. Reports New Energy Services Contract and Earnings Outlook BusinessWire, Wednesday, December 22, 1999 at 15:16 THE WOODLANDS, Texas--(BUSINESS WIRE)--Dec. 22, 1999--TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE:TTI) today announced that it had been awarded a significant well abandonment and platform and pipeline decommissioning contract from El Paso Production Company formerly Sonat Exploration Company and El Paso Production GOM, Inc. formerly Sonat Exploration GOM, Inc. The contract exceeds $10 million and covers 16 oil and gas platforms in the Gulf of Mexico. TETRA anticipates mobilizing on the project immediately, with the majority of the work to be completed in 2000 (although a portion of the project will extend beyond 2000). Well abandonment is one of the four core business areas in TETRA's energy services portfolio. TETRA has become the leader in Gulf Coast well abandonment. This contract adds significantly to TETRA's premier position in this business. The U.S. Government estimates that there have been 5,375 platforms installed in the federal waters of the Gulf of Mexico and, to date, only 1,503 of these platforms have been removed. Industry estimates of the cost of abandonment and decommissioning of these facilities exceed $3.0 billion. Additionally, over 1,000 platforms are currently installed in state waters. Current estimates of the onshore well abandonment backlog in Texas and Louisiana alone exceed 100,000 wells. All these wells must be plugged in an environmentally sound and efficient manner. TETRA is well positioned to pursue and capitalize on this backlog of business. Allen T. McInnes, TETRA's president and chief executive officer, stated, "The well abandonment market is a growth business for TETRA. We began positioning TETRA to take advantage of this opportunity in early 1994. Since then, we have expanded our presence in well abandonment by acquiring the stock or assets of seven companies, spending in excess of $30 million on new equipment and refurbishing old equipment, building an infrastructure to support the business, and entering "base load" alliances with several major oil companies. We are excited by the potential in all the well abandonment markets and this El Paso contract is justification for our enthusiasm. "During the fourth quarter of 1999, in anticipation of the El Paso/Sonat contract, we did not take full advantage of our well abandonment opportunities, thus foregoing some short-term revenues. This combined with the increased civil unrest in Nigeria, weak oil service demand in other foreign markets, the slow pick-up of energy expenditures in the U.S. Gulf of Mexico, planned plant shut-downs, and the extremely warm U.S. weather conditions (reduced calcium chloride demand) will cause TETRA to report a loss in the fourth quarter of 1999. The severity of the downturn in energy expenditures has made estimating market turns a perilous undertaking in the last 15 months. However, with the currently improving clear brine fluids market in the Gulf of Mexico, new and expanding well abandonment opportunities (such as El Paso), and an expanding production testing business (particularly natural gas drilling), we believe that TETRA will be profitable in the first quarter of 2000. We look for this improving trend to continue into 2001," McInnes concluded. TETRA is an energy services company which also produces chemicals for energy and other markets.