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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (336)	4/19/1998 12:13:00 PM
From: John B. Smyth	Read Replies (2) \| Respond to of 856

The Y2K problem is certainly one that concerned Renaissance Energy. They sent us a 6 page questionaire to certify our compliance (or not) and to question how we met the compliance. I believe it was Stuart who first asked the question on the thread. We ran tests to confirm our compliance. We can now certify that it is not a problem for us. To answer your question regarding the feeling in the oil patch, I'm not sure if it is all the problem the media has reported. There seems to be a lot of focus on the medical field too, even to the extent of saying it will affect pace makers! In some areas I believe the problem has been exaggerated to cover equipment that does not even have real-time clocks. In general, the Y2K problem is related only to the data processing sides that use the old two digit format. The process control side is affected where it generates data for or relies on real-time clocks. Renaissance is making inquiries of all its vendors of computer based equipment. They will investigate the impact on their operations from those vendors that do not comply. I suspect that those vendors whose equipment does not comply, probably operate in areas where compliance is not applicable. I don't want to understate the problem, but I have not seen anything in our side of the industry that would have a major impact if the Y2K problem was not addressed. That is not to say that there could not be, however, our equipment does not normally rely on time or date data stamps from other equipment (although we are developing a GPS I/P for synchronization of remote stations), and we hand off Y2K compliant data to the IT equipment or print Y2K compliant reports, trends and charts. I suspect the biggest impact in the energy field will be in the information technology area, particularly in accounting side where cheques, purchase orders and the like might be printed stale-dated. I'm sure that on the operations side you will see all crews on alert as the clocks roll over for the millennium. I would be interested to hear from someone in the data processing side of the energy sector. In my ignorance, I had assumed that everyone would have addressed this situation some time ago. I spoke with a senior official with one of the major banks a few months ago and was very surprised to learn that they were just starting to address the problem. So to has the energy side, it appears. Keep moving on the tangent, it would be interesting to hear what you learn. I guess you already know that we didn't make the Sedar cutoff on Friday. We managed to get the files down to Campney & Murphy again, in tact, but our auditor did not use the table formatting on the financials which required their manually adjusting them. They were going to correct it Friday so it would be ready Monday morning. I used a photo that Parv (one of our technicians) took of a helicopter positioning an antenna tower for our SCADA system at the Renaissance wellhead for the cover page. I also included photos of another Renaissance site and a fresh water pump site from the United Arab Emirate SCADA in the report. Regards, John