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Oil industry beaten down right now. Give this some time and it should turn into quite a gem.
IMO this is a ticking time bomb just waiting for the Obamamania dust to settle and all the green craze to slap everyone in the face that we're years and years away from meaningful alternative energy solutions that would begin to liberate us and many others from OPEC. Here's a recently renewed contract WEL just finalized. Check out their balance sheet and SEC filings and contracts they've signed for the last 2 years, it'll floor ya! This is set to jettison in the near future!
Boots & Coots Expands Safeguard Services in Africa Through a New Contract Worth $58 Million
7:03a ET January 13, 2009 (Business Wire)
Boots & Coots International Well Control, Inc. (NYSE Alternext US: WEL) announced it has renewed one of its Safeguard contracts in Africa, substantially expanding the scope of the company's existing prevention services for a three year term, with an optional two year extension period. The contract, which initiates this quarter, is valued at $58 million and includes $23 million in new Safeguard services.
"The prevention business has been our fastest growing segment over the last several years, and we believe part of that reason is because our customers recognize the value we bring through safer and more productive operations," stated Jerry Winchester, president and chief executive officer. "We believe that this contract clearly demonstrates the opportunities that exist in emerging markets for our Safeguard services."
The majority of the services provided under the contract include training, rig audits, risk assessments, on-site competency programs and related prevention services, with minor provisions for third party services.
Dang, I'm not alone here. I've been following this one for quite some time. I'm seeing institutional buying on this gradually creep up the last couple months. IMO this is extremely undervalued. Frankly baffled why it's not running harder than it is. Solid financials, reputable company, killer contracts. All I can say is what a steal at these prices.
Watching this consolidation closely. Stopped by the 50ma on that last move.
Yeah, think so. These guys have awesome fundamentals in place and know how to play hardball. Been seeing some institutional buying over the last 6 weeks. IMO this is wayyyyyy undervalued.
THis one has a long way to go. Need oil industry to rebound before we get any real huge moves imo.
Nice move off the bottom. Just need to break out of that downtrend.
THIS IS READY FOR TAKEOFF!!
http://www.bncg.com/OGFJ%20JW%20Article%2010-2008.pdf
IMO this is a good play for a fairly quick double. Drill baby drill will bring increased earnings and at these prices this company is positioned to gain signicant pps value.
GLTA
yeaaah, we are just above 3 bucks and next year is going to be big too. I expect Boots and Coots to become midcap oil service player.
Boots & Coots Signs 2-Year Hydraulic Workover & Safeguard Contract in Libya
Wednesday July 30, 4:30 pm ET
HOUSTON--(BUSINESS WIRE)--Boots & Coots International Well Control, Inc. (Amex:WEL - News) announced it has signed a multi-service contract with Libya’s Harouge Oil Operations Company. The new contract, valued at close to $15 million for a two year period, with optional one year extensions, provides for one hydraulic workover unit and a Safeguard prevention well control specialist for Harouge’s Amal field.
“In seeking economic efficiency in maintaining its field, Harouge has selected Boots & Coots’ snubbing services as a viable alternative to standard workover, along with our training and risk management services,” stated Jerry Winchester, president and chief executive officer. “We’re excited to work with Harouge and believe opportunities to extend and bundle our services under long-term contracts and provide similar programs to other oil-producing companies will continue.”
The hydraulic workover and prevention services provided under the contract give Harouge in-house first responder capabilities and will help the oil company achieve its field maintenance and production objectives.
Boots & Coots currently performs services under hydraulic workover/snubbing and/or Safeguard contracts in the North African neighboring countries, Algeria and Egypt, as well as in West Africa, the Middle-East, Venezuela, India, Oman and domestically in the US.
About Boots & Coots
Boots & Coots International Well Control, Inc., Houston, Texas, provides a suite of integrated pressure control services to onshore and offshore oil and gas exploration companies around the world. The Well Intervention segment consists of services that are designed to enhance production for oil and gas operators and reduce the number and severity of critical well events such as well fires, blowouts or other losses of control at the well. This segment includes services performed by hydraulic workover and snubbing units and the rental of pressure control tools that are used to enhance production at the wells. The scope of these services also includes prevention services such as training, contingency planning, well plan reviews, audits, inspection services and engineering services offered through our Safeguard risk management programs. The Response segment consists of personnel, equipment and services provided during an emergency response such as a critical well event or a hazardous material response.
Certain statements included in this news release are intended as "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Boots & Coots cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. More information about the risks and uncertainties relating to these forward-looking statements are found in Boots & Coots' SEC filings, which are available free of charge on the SEC's web site at www.sec.gov.
Contact:
Boots & Coots International Well Control, Inc.
Investor Contact:
Jennifer Tweeton, 281-931-8884
jtweeton@boots-coots.com
Source: Boots & Coots International Well Control, Inc.
The number of shares of the Registrant's Common Stock, par value $.00001 per share, outstanding at May 6, 2008, was 75,947,242
great. the raise of SP could be a bit slow now as there is a big institional seller:
http://biz.yahoo.com/t/91/782.html
but once they are done, together with 2Q results with 6-7 cents EPS, we should go to at least 3 bucks.
Could go from here, looking real good!! I'm in
RedChip Independent Issues 1Q 2008 Research Update On Boots & Coots International Well Control
Tuesday May 20, 11:15 am ET
ORLANDO, Fla., May 20, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., has issued a 1Q 2008 research update for Boots & Coots International Well Control, Inc. (AMEX:WEL - News), a global emergency response company specializing in the needs of the oil and gas industries.
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Paul Rapa, MBA, RedChip Research Analyst, reported:
``With profitability increases in almost every location in its international business during the first quarter and continued improved activity levels in the Gulf of Mexico, we continue to believe that WEL is being very conservative in its estimated earnings per share for the second quarter.''
``2008 will continue to be a very successful year for the Company, and at a recent price of $2.16 per share, the Company continues to be extremely undervalued. We believe oil prices driven by world demand and civil unrest will continue to increase and create unique opportunities for WEL. Additionally, the Company's domestic activity is driven by natural gas. As many companies in the United States continue to explore for natural gas, the Company's domestic operations should continue to build momentum in the second quarter,'' Rapa continued.
repost from CC from yahoo message board:
Finally got a chance to listen to the conference call and read a couple posts so if I'm repeating please forgive (tough with the day job). It's amazing what this company is doing and all the international locations and opportunities. Here were a few things that stuck out for me.
A Few Highlights:
- Plenty of work to go around in Venezuela, Africa, Nigeria, Algeria, Wyoming (natural gas play), and Qatar.
- Jerry indicated an announcement in a "month or two" about new Safeguard contracts. Since they haven't announced a single thing all year my guess is they'll be pretty good contracts. It wouldn't surprise me if this is not a way to help prop up the stock price before another acquisition announcement later in the year but my guess this announcement will be no later than sometime in the first half of 2009. This was based on the Jerry's hesitation when the analyst asked about whether the shares outstanding would increase from 75M and some of the other comments he made about acquisitions. The new guy their bringing on is the "Finance and M&A" guy. Obviously with that title, an acquisition is inevitable. It was nice to see Jerry at least acknowledge his sensitivity to increasing the share count.
- Gabe indicated Well Intervention revenues not likely to drop off at all this quarter from Q1 and Response revenues in the first month were already at their forecast for the entire quarter of $2.5M. Jerry indicted it looks to continue to be strong - my estimate $2.5M x 3 months = ~$7M-$7.5M again. All those headlines about Nigeria oil fires -nice to know that WEL is the responder.
- Cash flows are supporting increased CapEx to a total of $20M for 2008 = GROWTH.
- Utilization rates up to 57%-60% right now nearly double the 32% in Q1'07. Jerry's target is to get to 65% = GROWTH
Increased Exposure:
- WEL finally getting exposure as 9 analysts asked questions during the call. The most I've ever seen!!! In the past we might have been lucky to get 3 analysts with 2 private investors. Analyst upgrades and price target increases forthcoming.
- WEL getting further exposure by making IBD top ten list (trusting the message board this is true as I can't validate).
- WEL making the top 3 list for Bullish stocks at the bottom of Yahoo Finance page (scroll down where they list top 3 bullish and bearish stocks).
The drop in stock price today was the short-term traders getting out when the stock was not moving up. By on rumor, sell on news. The investors will start to move in over the next few days/weeks just like they did after the 4Q call.
Bottom Line: My guess is WEL will earn 6-8 cents again in Q2. With solid earnings growth and all this exposure, as mentioned before, this stock will be $3-$3.50 within 30 days from today - June 6th.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=te&bn=19819&tid=691220&mid=691220&tof=2&frt=1#691220
WEL announced net income of $5.1 million, or $0.07 per diluted share for the first quarter ended March 31, 2008
Another breaking quater, this thing is going to 4 bucks this year at least. If they manage to make 28-30cents EPS in 08 we could be with forward PE 15 in the 4.2 - 4.5 range. I bought this in 1.30-1.60 range, so it will be nice two bagger.
Boots and Coots: Going to blazes
Monday April 14, 6:20 am ET
Jennifer Allen
In a slow burn for the past few years, Boots and Coots International Well Control Inc. (AMEX:WEL - News) is ready for rapid oxidation. Give it air: the oilfield services company is set for a big 2008, looking to fire up profits in a volatile industry.
Boots and Coots traces its history to Red Adair, legendary oil well firefighter who tamed flames in Kuwait in 1991 at age 75. Before that, he was the inspiration for John Wayne in the 1968 movie “Hellfighters.” From the Red Adair Company came his posse leaders Boots Hansen and Coots Matthews, who formed Boots and Coots in 1978.
With a reputation as a premier critical emergency responder, the company answered its loudest alarm in early 2003, when speculators bet Iraq would ignite its oil wells in response to the U.S. invasion. Boots & Coots handled some blowouts in the southern Iraqi oilfields, and shares spiked to $8 from less than $2 — ever so briefly — and fell back to flounce around near $2 ever since.
As the Iraq bell clanked, Boots and Coots listened. The company no longer handles only 911 calls, but is now the global number to dial for full-service help. It has built a well-intervention business to smooth the jagged revenues from its critical response operations. It provides pressure control and other services to onshore and offshore oil and gas companies in North America, South America, North Africa, West Africa and the Middle East.
By the end of 2007, the Houston, Texas-based company’s well-intervention revenues were $92 million, and emergency response revenues $13.3 million, bringing the total to $105.3 million. What a reversal from 2005, when revenues for response were $15.7 million and intervention $13.9 million, for a total of $29.5 million. Revenues were $97 million in 2006.
“We were anticipating a dramatic rise in both the top line and bottom line for 2007 driven by higher activity/utilization and improved pricing, but WEL far surpassed our expectations,” Neal Dingmann, an analyst at Dahlman Rose and Co., wrote in mid-March.
“Management’s focus on growing the well-intervention segment has paid off,” he said, adding that Boots and Coots’ strong brand name should lend itself to its expanding services, such as the Safeguard business, which is its fastest growing business. The overall response business also should continue to boost the bottom line. Dingmann carries a “buy” rating with a target of $2.50 per share.
Safeguard provides maintenance, risk assessment, training and engineering services; in 2005, Safeguard services were introduced in India and last year the program entered Libya, Dubai and the Caspian Sea, and expanded in Algeria.
Like cowboys around a campfire, Boots and Coots is just warming up. For 2008, analysts expect earnings per share at $0.23, doubling the $0.11 of a year ago. Revenues are forecast at $147 million, up 40%. The company is getting its giddy-up going early: it sees first-quarter earnings at $0.06 to $0.07, compared with $0.01 in the same quarter last year. First-quarter results are expected May 5.
Shares closed Friday at $1.84 each, putting the company at a P/E ratio near 8, based on 2008 expectations. The stock has traded between $1.11 and $2.79 over the last 52 weeks.
Morgan Keegan analyst Michael Drickamer cited continued international expansion as a catalyst, including into North Africa, where a joint venture in Algeria may present opportunities in Libya. There also are well-intervention opportunities to enhance production, such as workover and snubbing operations in the Middle East.
Growth also will come as the rig-assist and rental-tool business expands into the Rockies and mid-continent, and redeployment of underutilized assets in the United States Gulf move into more profitable regions such as onshore U.S. areas and Algeria, according to Drickamer.
Drickamer carries an “outperform” rating on Boots and Coots, and also has a $2.50-per-share price target. He said that in “2007 growth initiatives positioned (the) company for significant 2008 expansion ... international exposure (is) a key benefit to investors.”
Big fire-putter-outer, but still a little guy in a very intense environment. Boots and Coots has market capitalization of just $139 million, far smaller than its many competitors, including the likes of $36-billion Halliburton Co. (NYSE:HAL - News). Although near record highs, oil prices can be capricious. Boots and Coots also is susceptible to other risks of the range: 37% of its business comes from just two customers and it gets 76% of its revenue from outside of the United States.
International business, expected to expand in 2008, exposes the company to such risks as foreign exchange, political and economic stability, trade restrictions that may be imposed by the United States, and more. Venezuela accounted for 19% of revenue in 2007 and Algeria 20%.
Aside from the risks, balance sheet numbers are moving in the right direction. Boots and Coots had $6.5 million cash on hand at the end of 2007, up from $5 million the prior year. Working capital was $34.7 million, up from $25.5 million. And debt to total capitalization was 26.7%, well in line with the industry.
Get a match. The kindling is dry.
They've been working with Ultra Petroleum Corp (UPL), look at my previous post for the article.
Special Focus January 2008
Vol. 229 No. 1
SPECIAL FOCUS: WELL CONTROL AND INTERVENTION
Simultaneous drilling and snubbing speed completion and production in difficult Rocky Mountain fields
Advanced drilling and completion practices allow efficient production from a previously uneconomic play, while limiting impact on a sensitive environment.
Jack Paulson , Ultra Petroleum; Gabe Gibson and John B. Garner , Boots & Coots
A tight gas formation on the Pinedale Anticline and in North Jonah Field of west-central Wyoming was discovered in the 1960s, but economical development of the fields was not possible using conventional methods and tools. Over-pressured sands in these fields consist of stacked lentincular pods extending over a 5,000-ft interval. Completion of so many zones using conventional means was often not possible given the expense of early technology.
However, by combining time-saving new technologies with simultaneous drilling, completion and production operations, operators in the area have been able to develop the reservoirs quickly and successfully. To accommodate the time restrictions, Ultra Resources has developed a streamlined process in which wells are drilled with self-moving rigs, stimulated and then completed as live wells using hydraulic snubbing units provided by Boots & Coots. Simultaneous operation of drilling, wireline, fracturing and snubbing equipment on a single pad is common, Fig. 1. Produced gas and water from adjacent wells on a pad are used to drill out plugs during completion. An innovative package of flowback equipment even allows the sale of the gas produced during drilling and completion. This innovative approach allows the operator to realize revenue from drilled wells during completion.
SUMMARY OF PREVIOUS PRACTICES
Most of the development in the Pinedale/Jonah area is located on land controlled by the US Bureau of Land Management (BLM). In a portion of these areas, operations are only allowed to be conducted from mid-July through mid-November.
In previous development operations in the Lance and Mesa Verde Formations, a single well was drilled on each location. Individual sands were selected for completion and grouped into stages. After each stage was perforated and stimulated, stimulation fluids were flowed back and the stage tested. To test the next interval of interest, a Cast Iron Bridge Plug (CIBP) was set and the next stage was evaluated. This process required many days per stage, and was not started until drilling was complete and the rig was moved off the location. Typically, a stage would cover a thickness of 50-200 ft with multiple sands perforated.
After stimulation and testing, a snubbing unit was moved in to drill out the CIBPs. (During live-well operations, time consuming ram-to-ram stripping was used to move pipe.) The milling assembly was then pulled, and the completion string was run. The snubbing operation has historically been conducted with either stand-alone hydraulic snubbing units or hydraulic rig-assist snubbing units used in conjunction with a service rig, depending on availability of equipment and the anticipated flowing and shut-in surface pressures.
Drilling operations were conducted 24 hr/day but still took months to drill a well to 14,000 ft. Live-well completion operations were limited to daylight hours. Because stimulation and flowback of each stage required about seven days, and the typical completion in these fields commingled two to seven stages, that method of completion often required more time than was economical.
NEW PRACTICES AND TOOLS
Numerous changes in operating practices were adopted to expedite gas delivery following completion of drilling. An average well can now be drilled in less than 40 days and in some cases 20 days. This has been done with advances in bits, motors, fluids and expedited rig moves.
Multi-well pads. The configuration of multiple-well pads was refined as self-moving drilling rigs were employed. Most pads accommodate only four wells, but multiple-well pads with 4-16 wells have been used successfully to limit the footprint of drilling and completion operations. The configuration of wells on the pad dictates the order in which the different completion operations are conducted and the specific equipment used.
Self-moving rigs. Two types of hydraulic drilling rig movement systems are currently in use; one that “walks” and one that “slides.” Previously, a rig move required four to five days. Self-moving rigs can move 25 ft in a matter of hours, exposing the newly drilled well for prompt completion operations.
Snubbing units. Once the drilling rig is moved to expose the wellhead, wireline and stimulation operations can begin. If the drilling rig is moved to an immediately adjacent well, a stand-alone hydraulic snubbing unit is then rigged up, Fig. 2. If more room is available, a service rig and rig-assist snubbing unit may be used.
Fig. 2
Fig. 2 . When the drilling rig is moved to an adjacent well, a stand-alone hydraulic snubbing unit can be rigged up to begin wireline and stimulation operations promptly on the previously drilled well.
The stand-alone snubbing unit used in this application with its accompanying BOP snubbing equipment has become known as a “quick rig.” Only two heavy lifts are required to assemble the BOP equipment and the entire snubbing unit on the wellhead.
The top-to-bottom BOP equipment configuration for the “quick-rig” snubbing unit is as follows:
* 7 1/16-in. spherical annular BOP
* 7 1/16-in. single-ram BOP dressed with stripping rams and equipped with equalize and bleed-off loops
* 7 1/16-in. spacer spool
* 7 1/16-in. single-ram BOP dressed with stripping rams
* 7 1/16-in. double BOP dressed with pipe “safety” rams in the upper cavity and blind rams in the lower cavity.
Stand-alone snubbing units can work in both the pipe-“light” and pipe-“heavy” situations, and have a powered rotary for the milling operation. This unit does not require any assistance from a service rig, but pipe has to be worked in single joints during time-consuming tripping operations. The stand-alone configuration is also better suited than a rig-assist unit to safely handle elevated surface pressures with the appropriately pressure-rated BOP equipment.
A rig-assist snubbing unit may be used if sufficient space is available to accommodate a service unit. A rig-assist is configured to handle the pipe-“light” situation and allows for the pipe to be stripped through an annular BOP during tripping operations. This type of snubbing/stripping operation is conducted for surface pressures up to 2,000 psi.
An innovative BOP configuration adopted for completion operations allows annular stripping at pressures up to 4,000 psi. For pressures above 2,000 psi, an additional annular BOP is used below the stripping stack supplied with the rig-assist snubbing unit. The lower annular BOP contains the full wellhead pressure, and the pressure between the two annular BOPs is maintained at half of the wellhead pressure. For example, when working on a well containing 3,000 psi wellhead pressure, 1,500 psi would be maintained between the two annular BOPs such that a 1,500 psi differential was maintained across each annular element.
This configuration allows completion operations to proceed at a much faster rate than would be allowed by ram-to-ram stripping.
The BOP equipment used with a hydraulic rig-assist snubbing unit is comprised of the following components, from top to bottom:
* 7 1/16-in. spherical annular BOP
* 7 1/16-in. single-ram BOP dressed with stripping rams
* 7 1/16-in. drilling cross, equipped with equalize and bleed-off loops
* 7 1/16-in. single-ram BOP dressed with stripping or pipe “safety” rams
* 7 1/16-in. spherical annular BOP (for surface pressure above 2,000 psi).
This configuration is easily rigged up in a single lift by using the rig’s drawworks to hoist the snubbing unit and the BOP equipment off a body-load truck into position on the wellhead. The snubbing unit is assembled above the well service contractor’s hydraulically operated double BOPs, and dressed with pipe rams in the top cavity and blind rams in the lower cavity. The double BOP is typically connected to a separate accumulator apart from the snubbing unit or the well service rig’s hydraulic systems and is placed a distance of 75-100 ft from the wellhead in the path of primary egress in case of an emergency during the operation.
Using the rig-assist configuration allows for quicker trip times because the snubbing unit only handles the pipe during the pipe-“light” situation. When the pipe-“heavy” situation is reached, pipe is run by the rig’s drawworks as it is stripped through the surface pressure-control equipment.
The rig-assist configuration also allows for the tubing string to be worked in double stands, which greatly decreases the trip time to pull the milling assembly and run the tubing back in the well for the completion. The passive rotary bearing allows for pipe rotation in the pipe-“light” situation, but the rotary motion must be supplied by a hydraulic power swivel.
The use of the snubbing units also decreases the cost and environmental impact of the overall completion by eliminating the need to produce, transport and dispose of kill fluids.
24-hour operations. Previous live-well completion operations were conducted only in the daylight, because visibility is critical for safety during pressure operations. Current operations employ a large array of light plants to provide safe visibility at all hours.
Flow-through frac plugs. Also key to minimizing completion time is the use of several new tools. Perhaps the most important of these is the aluminum Flow-Through Frac Plug (FTFP), a drillable plug that allows only upward flow, so stimulation fluids cannot enter the previously treated stages isolated below.
Operators once were very careful to select only the most promising sands for completion, and the total sand thickness opened per well averaged 50-70 ft. These sands were grouped into stages for stimulation. More efficient completion practices now allow operators to open 600-1,000 ft of total sand thickness.
Independently fired perf guns. The FTFP is used in combination with a perforating system that allows independent firing of tandem guns. After treating one stage, a setting tool and FTFP are run at the bottom of an assembly of perforating guns. First, the FTFP is set to isolate the previously treated stage, and then each sand in the next stage is perforated. The newly perforated sands are then stimulated, and the process is repeated until all sands have been treated. Stages typically include one to six sands, and flowback is delayed until several stages have been treated.
Producing while completing. Produced gas and water are used for drilling out FTFPs. Another important change in operational practices is the use of sand traps, high-volume separators, diffusers and trash catchers during flowback operations and during the drillout of FTFPs. Together, the snubbing units and flowback equipment allow production to be maintained during the entire completion operation including the drilling out of FTFPs. It is not uncommon in the Pinedale/Jonah area to sell gas while drilling out the FTFPs, whereas previously the gas would be flared to a pit.
CONCLUSION
The solid application of new technology and teamwork by Ultra Resources, Boots & Coots and Ultra’s other drilling and completion contractors has overcome many difficult obstacles in the Pinedale/Jonah area. Wells in this area are now being drilled and completed in a much shorter time than was previously possible.
Simultaneous operations make it possible for a single pad’s operations to include two drilling rigs, a frac crew, two wireline crews, two crane crews and two snubbing units working safely together.
With the use of snubbing units and appropriate flowback equipment, it is now possible to begin realizing a return on investment even before the completion is finished. This is a good example of how a snubbing operation can help an operator in a non-critical well-control role. Another advance has been a major decrease in environmental impact due the improvements in equipment and in the overall drilling and completion process. WO
Anybody else see EOD on friday, it jumped .10 right before close. And now a premarket buy ASK jumped to 1.73 Looks like we'll see a Gap up this morning when it opens.
I think we have some good consolidation at least.
Looks like WEL is trying to start a run back to at least 1.60...
great news on the way, $ 7.4 million :
the date is posted in euro format, not in US format. so its october.
Boots & Coots Cut Quoted Price to Plug Gas Seepage at Titas Field [ Print ]
Gas sector
EB Report , published 4/10/2007
Page [ 1 ]
The US-based gas field blowout prevention firm, Boots & Coots, the lone bidder for plugging gas seepage at Titas gas field in Brahmanbaria, has reduced its quoted price by US$ 3.3 million.
The company, which quoted $ 10.7 million in a tender to stop gas leakage in Titas gas field, will now do the job at $ 7.4 million.
The Boots & Coots that won the tender has lowered its quoted price as a gesture of goodwill, said a senior official of the Bangladesh Gas Fields Company Ltd (BGFCL).
The project is now awaiting approval by a committee, headed by the Bangladesh Bank (BB) governor.
Sources said the price quoted by the Boots & Coots is, however, three times higher than the cost the Petrobangla earlier negotiated with another US company - GSM - to stop Titas gas leakage.
The state-owned Petrobangla earlier negotiated with the GSM in May last to stop gas leakages of the Titas gas field at the cost of $3.74 million, which was turned down by the BB citing it as unsolicited.
Failing to convince the BB the urgency to plug the Titas gas seepage in line with the negotiation with the GSM, the BGFCL, owner of Titas gas field, floated tender in June last seeking proposals from the internationally reputed companies.
Five foreign companies -- including the GSM and another US firm BJ Services -- purchased bid documents from the BGFCL.
None other than the Boots & Coots submitted their proposals within the timeframe of August 5 last, which was extended by a week from its previous schedule.
The Boots & Coots is one of the world's largest firms involved in oil/gas well control across the globe.
It has experiences of drilling over 1,000 relief wells around the world, including those of Kuwait that were blown out during Iraq's invasion in Kuwait more than a decade ago.
BGFCL officials said gas has been leaking through the cracks and holes in the Titas gas field area for a couple of years, but the extent of seepage increased alarmingly recently.
LOL- been a while since I posted here <bg>. GLTY on your dd, I think 1.60ish is in the near future
Thanks for the lead Tim...
Looks like Boots is about to break out.
how low will she go?
the past week seems to have found a new level but will it hold?
just found this stock when searching for ALY competitors and I would like to say WTF? Why such low price?
it seems to me as really great buying opportunity now.
Watchin, Very Cool...GLTY weeeeeeeeeeeee
Filled this morning....all gaps get filled & WEL should soon be a buy again.
Going To Fill That Gap??????
Call Me Shorty
I really am looking forward to hurricane season.
This is the $3 week........................
he would probably say buy the parent: OIS -- Oil States International, Inc.
I have been on there twice....once for FCEL and once for shorting Allstate when they stopped writing policies along ocean lying communities, a few months back....
read FCEL board about it.........lol lol lol
he said sell it and buy first solar..........The next three days it went up 40%............lol lol lol
I did not sell it on his word though............
I got on once, a few months after the show started that was like 2 years ago. I can't remember if I asked about NAT or TOPT.
Kewl!!! I have written him also.
Thanks, Shermann
I am trying to get us on Jim Cramers Madd Money....
Sounds good to me
The price target is right around 3.50 to 4.00 here.
If we go into Iran, it will be much higher.
Shermann
Right on back up today..weeeeeeeeeeeeeeeeeeee 2.80 +.19
7.28% up............shook that 26 million shares right off..........
Yep, Was Enough For Me To Take Profits../
did you see the most recent filling? 26 million more shares....I am happy about that...........we need em......
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