SI
SI
discoversearch

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.
Technology Stocks : TAVA Technologies (TAVA-NASDAQ) -- Ignore unavailable to you. Want to Upgrade?


To: Mary Beth Ford who wrote (5495)11/5/1997 7:34:00 PM
From: Mitch  Respond to of 31646
 
Dont know if this has been posted. Another opportunity for TOPRO'

MILLENIUM BUG MAY SHUT DOWN NORTH SEA PLATFORMS

By Hans De Jongh ABERDEEN, Scotland, Oct 29 (Reuters) - Major oil companies on Wednesday rang the alarm bell, warning the so-called millennium computer bug could paralyse the offshore industry in the North Sea -- one of the world's biggest oil production areas.

In a worst case scenario, oil platforms would be forced to shut down just over two years from now simply because automated systems fail to recognise the year 2000, industry experts told a conference here.

The problem stems from short cuts taken by computer programmers in the past. To save memory space, they abbreviated dates to their last two digits, so that 1999 becomes 99. But unfortunately, computers will read 2000 as a meaningless 00 and may crash at the turn of the millennium.

Companies such as Royal Dutch/Shell <RD.AS><SHEL.L> and British Petroleum Co Plc <BP.L> said they realise they are sitting on a time bomb and are racing against the clock to check millions of microprocessors. But, they fear smaller firms have not yet fully grasped the threat to the oil industry.

At the "Project 2000 in Oil and Gas" conference, industry suppliers and service providers were warned that time is running out and urged to act soon to prevent major upheaval.

"Stop talking about it, but do it," said Ian Smailes, automation project engineer at Total Oil Marine Plc <TOTF.PA>.

The oil industry faces a gargantuan task to fight the millennium bug, illustrated by the fact a single offshore oil platform may contain over 10,000 microprocessors. Some are deep below sea level, but all need to be checked.

To put this into further perspective, there are over a 100 platforms in the North Sea alone.

A taste of what might happen if computer systems fail to recognise a date came from New Zealand last year. There an aluminium smelter ground to a halt for several months because its production system could not deal with a leap year, said David Trim of Shell's year 2000 team.

He told the conference that a worldwide "commercial meltdown" and "economic hardship" were real risks if worst came to worst.

"We're talking about something akin to the aftermath of a war," Trim said.

The total costs of getting rid of the millenium bug in Britain have been estimated at 31 billion pounds, while it might be $1.5 trillion for the world as whole.

But Trim said these could be small sums compared with the far bigger investments needed to prop up economies if the problem was not addressed now.

"It's not the cost of doing it, but of not doing it," he said.

10:39 10-29-97



To: Mary Beth Ford who wrote (5495)11/5/1997 7:40:00 PM
From: pvw  Respond to of 31646
 
Hi Mary Beth Ford:

"You had better hope my luck has changed."

I do hope your luck has changed.

Are you concerned that a similar story could happen with our beloved TPRO?

pvw



To: Mary Beth Ford who wrote (5495)11/5/1997 7:52:00 PM
From: Stuart Schreiber  Respond to of 31646
 
Mary Beth:

Small world. I also had Ampex. In fact traded it several times for profit. I have yet to sell a share of TPRO. Time and earnings will ultimately tell but I don't think the stories are anywhere near the same. Anyway, now your due for some good luck. LOL

Stu