HOUSTON,
(March 12, 2004) — Boots & Coots International Well
Control, Inc. (Amex: WEL), a global prevention, emergency response
and restoration company for the oil and gas industry, today
provided the following operational updates and earnings call
schedule.
Boots & Coots has been awarded a two-year contract from
the Oil and Natural Gas Commission (ONGC) of India. The SafeGuard
contract is for training, inspection and blowout control for
ONGC’s 28 offshore rigs and 94 land rigs. Under the terms
of the contract, Boots and Coots will train 30 ONGC engineers
in Houston, and then send two engineers to provide training
in India at ONGC’s six regional centers. The contract,
which is expected to commence the beginning of the second quarter
of 2004, also provides for the inspection of, and suggestion
of remedial measures for, all of ONGC’s well control
equipment.
The company also stated that, pending the transition to the
new contract for the Restore Iraqi Oil (RIO) program in Iraq,
it has temporarily demobilized its personnel in the region.
The company remains positioned to respond immediately, however,
whenever an emergency arises in Iraq.
“While this delay in redeployment was unanticipated,
it occurs during a period when our domestic response business
has improved,” said Jerry Winchester, Chief Executive
Officer of Boots & Coots. “Additionally, the prevention
side of our business continues to grow, especially in Venezuela
and North Africa. We also expect our expanded relationship
with ONGC to create additional opportunities for us in Asia.
We have spent the last five years developing a strategy to
build the prevention side of our business, and as a result
our prevention services revenues have increased approximately
50 percent over the past year.”
The company will hold a conference call to discuss fourth
quarter and year-end results for 2003 on Thursday, March 25,
at 2:00 pm Central Time (3:00 pm Eastern Time). The dial-in
number for the call is 800-901-5241, passcode Boots & Coots.
A transcript of the call will be available on the investor
relations page of the company’s Web site within 24 hours
of the call.
^ Back to Top
|

About Boots & Coots
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.
|