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Gold/Mining/Energy : Weatherford International (WFT) -- Ignore unavailable to you. Want to Upgrade?

To: Harry who wrote (88)	3/4/1999 7:40:00 PM
From: Diamond Daze	Read Replies (1) \| Respond to of 142

Let me help you out Harry... To: Diamond Daze (812 ) From: Flea Wednesday, Mar 3 1999 7:20PM ET Reply # of 847 Adda et al file lawsuit against pipe supplier Adda Resources Ltd ADA Shares issued 13,995,000 1999-03-03 close $0.15 Wednesday Mar 3 1999 Also T & H Resources Ltd (THE) Also TransAtlantic Petroleum Corp (TNP.U) Also Pan-Global Enterprises Inc (PGE) Also Paramax Resources Ltd (PXM) Also Gothic Resources Inc (GCR) Also First Calgary Petroleums Ltd (FCP) Mr. Brian Doutaz reports Adda Resources, First Calgary Petroleum, Gothic Resources, Jeda Petroleum, Pan-Global Enterprises, Paramax Resources, TransAtlantic Petroleum and T & H Resources are all working interest owners in the Winfield Ranch 17 1-E well in Pecos County, Tex. The companies are proceeding to test and, if commercial, complete the Devonian (21,730 feet) and the Atoka (20,461 feet) formations. Both zones appear prospective based on log analysis and correlation to nearby producing wells. The Winfield Ranch 17 1-E well was drilled to 25,740 feet and was cased and logged. Log analysis indicates a potential of more than 1,100 feet of gross pay in the Ellenburger formation, a highly prolific gas zone in the area and the primary objective of the well. During the operation to clean out the production casing, a string of drill pipe supplied by Weatherford International, Inc. and manufactured by a Weatherford subsidiary parted and became stuck in the bottom section of the hole. Efforts to fish out the stuck string of drill pipe were not successful. The working interest owners, together with the operator, Baytech, Inc., have filed a lawsuit against Weatherford in Pecos County, Tex. The lawsuit against Weatherford seeks to require Weatherford to pay the market value of the well, pay mitigation costs and redrill and/or pay to redrill another well to the Ellenburger formation. The lawsuit also seeks consequential and exemplary damages. Based on the owners' investigation of the sequence of events that led to the Weatherford pipe failure, the owners are highly confident of a favourable outcome in the litigation. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

To: Harry who wrote (88)	3/5/1999 8:33:00 AM
From: diana g	Read Replies (2) \| Respond to of 142

I don't know, boys. Sounds to me like your crew messed up -- maybe failed to make a connection properly? -- and buried the evidence. Then your company looks around for someone to blame ---"Faulty Pipe!....yeah, that's it! musta been faulty pipe! We'll sue Weatherford!" BWDIK? Could've been faulty pipe, I suppose. I guess a court will look at all the evidence and decide. (I would think they'd do metalurgical tests on pipe of the same lot, etc) I hope Truth and Justice prevail. regards, diana