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

To: Richard Saunders who wrote (475)	6/23/1998 9:43:00 AM
From: John B. Smyth	Read Replies (1) \| Respond to of 856

I released the award announcement Feb 3, but final commissioning and acceptance was last week. I received word yesterday and made the announcement as quickly as possible. The drilling estimates were provided by John Iftody, President of RJV at a recent Unitec presentation in Edmonton. His figures were "between 14,000 and 16,000. I took the lower figure. The figures I have on ITT Barton (now called Barton Instrument Systems) indicate that their sales are in the $80M range, with $50M coming from the O & G sector. We are the "new kid on the block" in the O & G sector and will be competing directly with them. Barton has a respectable market share, but are not the largest by any means. Unfortunately, things didn't work out with Pina, but feature articles for trade magazines as well as other news publications are on Howard's agenda. His main priority now is to set up a series of presentations to brokerage houses, beginning here in Vancouver, Victoria, Calgary then east and south. He is emerging himself in learning the business, technology, and market and seems to be getting a handle on it quite nicely. Regards, John