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NEWS
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May 8, 2003
 Boots & Coots
Announces Settlement with Checkpoint< Previous Page  |
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Investor
Contact:
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Jennifer
Tweeton VOLLMER 713-970-2100 jennifert@vollmerpr.com |
Rob Schatz/Richard
Cooper Strategic Growth International 212-838-1444 info@sgi-ir.com |
Jerry Winchester, Boots & Coots’ CEO, stated, “Checkpoint assisted the Company through a senior participation loan designed to provide us with sufficient working capital for our daily operations. Additionally, the agreement provided for Checkpoint’s assistance in restructuring our debt. The agreement was mutually beneficial and we appreciate Checkpoint’s assistance during this phase of our restructuring initiatives. We are pleased to have resolved this matter and look forward to the continued dedication of our efforts on operations in Iraq and the continued growth of our prevention services. Management will continue to focus on improving the balance sheet and restructuring the Company’s debt obligations. This settlement allows us to concentrate on the business at hand.” |
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Boots & Coots International Well Control, Inc., Houston, Texas, provides a suite of integrated oilfield services centered on the prevention, emergency response and restoration of blowouts and well fires around the world. Boots & Coots' proprietary risk management program, WELLSURE®, combines traditional well control insurance with post-event response as well as preventative services, giving oil and gas operators and insurance underwriters a medium for effective management of well control insurance policies. The Company's SafeGuard program, developed for regional producers and operators sponsored by Boots & Coots, provides dedicated emergency response services, risk assessment and contingency planning, and continuous training and education in all aspects of critical well management. For more information, visit the Company's web site at http://www.bootsandcoots.com . 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 http://www.sec.gov. |
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