ESTec Logo
Home Home Site Map Contact Us
   
    ESTec Systems Corp. About ESTec Systems Corp. ESTec Systems Products ESTec Divisions ESTec News ESTec Systems Corp. Investors Careers at ESTec Systems    
  World Map gears  
Shadow 1
 
 
  Arrow 1 Quick finder
Arrow 2
 
News Overview
Recent News
News Archive
  Arrow 3 Media Release 9 December 2003

ESTEC ANNOUNCES IT HAS A TOP DRIVE IN THE FIELD

ESTec Systems Corp. is announcing its subsidiary ESTec Oilfield Inc. has just placed a top drive rental unit in service with Atlas Energy on a Precision Drilling rig.

The initial project is a 12-24 day drilling project. Subsequent projects could follow, and there is the possibility the top drive could be rented out for the duration of the winter drilling season, and beyond, into the summer drilling season. Top drive rental rates are higher this year than last year, and the revenue from this project will be a start to solving the financial problems of this division.

Management continues to work on restructuring the Oilfield subsidiary, with a goal to bring the division into profitability and to clear up its outstanding liabilities. In addition we are continuing to seek investors to improve the capital position of the division, to allow it to move forward.

On behalf of the board,

Anthony B. Nelson
Director

 
©2007 ESTec Systems Corporation. All rights reserved.
Shadow 2