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Hyduke Energy Services Inc. HYKCF

"Hyduke Energy Services Inc is an integrated oilfield services company engaged in the manufacture, repair and distribution of oilfield equipment. The company operates in three segments, Manufacturing and Fabrication segment that designs, manufactures, refurbishes and repairs land-based drilling rigs, well servicing rig, drilling support equipment, workover support equipment, storage tanks, custom steel fabrication and custom machining; Supply and Service segment that includes the procurement and


GREY:HYKCF - Post by User

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Post by David_Adellon Feb 26, 2010 4:04pm
486 Views
Post# 16824929

good news folks!

good news folks!I spoke with Gordon     yesterday and he was very up beat   . He said there  is alot of  interest  in  drilling again   with several   worldwide customers touring the operations  in the last 3 weeks.  He also  said the the Mexican  outfit is very pleased with the work so far  and   he thinks    Hyduke wil be  bidding againt no one else (   bascially bidding against  the budget  )  for additional contracts.  He also said the plan was that  the Company   wanted to     maunfuacture some  stuff themselves  and  'add on " to the  base rig  Hyduke is building.  But  it seems they are way  behind schedule and  Gord  thinks  they will secure additional work on the rigs because the mexicans are   behind schedule  and need the rigs ready fordrilling leases.  He also said   they   secured      half million dollar  job for   just a single part for a russian   oil  plat form  and they were very impressed.  They also toured the entire operation.  These plat forms cost  500  million dollars to build so  if HYD gets a few parts or components it could add  to   alot on the bottom  line  .    I asked why it wasnt disclosed in a news release.  He said it wasnt  seemed  major enough to be  newsworthy  ;  it was more like  a    spec .build  rather then a   proper  contract bid.  He also said  the Company is levering its expertise in drilling     to manufacture alot of  components for narrow case   tubing and machinery  applicable to  mining exploration  and that end of the business is   soaring  . The stock is trading in tight range as     professionals are accumulating share from retailers who grow impatient. .    
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