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.
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