[TenTec] Repair Time and Cost of Ownership (COO)

[John Henry]

Rick,

I agree with everything you say. But, people are holding the new owner to
the reputation that TEN-TEC had before RFC/RKR, during RFC/RKR, and are
burning him for the reputation TEN-TEC built during RFC/RKR, when in
reality, he really only started service in February of this year, and in
that time, has been able to acquire parts that RFC/RKR said were no longer
available and were the reasons that older rigs would never be serviced
again. That should bring a big jolt in customer confidence in COO due to
the fact that he can now repair some older rigs if he can get the parts,
which was not even a question last year, they would not have been accepted
into service, or, as Steve's, it would have sat on the shelf indefinitely,
and if Steve inquired about it, he might have had it just shipped back to
him then without a repair, but, they were able to find the parts needed,
and were able to repair it, now, Steve can enjoy his Argo II again, I
applaud Mr. Dishop for finding a way to service this, and others. When
previous mgmt just sat on it, doing nothing, and probably never would.
You can't hold him accountable for the time when the previous mess was
created, and you can't hold him accountable for turn around times for rigs
that sat in TEN-TEC for months already before he bought TEN-TEC because of
how screwed up things were during that time period.

So all of this discussion of COO is out the window in my mind if you and so
many others continue to judge him and TEN-TEC product COO based on the
screw ups of the previous regimes.

Judge him now for what he does now, NOT the fiasco he inherited, and in my
mind, he should really be applauded for getting things back on track.
There will be rigs back in production, in fact, you will hear a promotion
coming up soon to help kickstart that again.

But, do I hear people applauding him for how well he has turned service
around? Yes, a few, but mostly, all I hear and in my emails anymore is how
bad TEN-TEC is and how it's service sucks, been in there 8 mos, no new
rigs, nothing for sale, no news, etc. etc. He has a plan, yes there are
hiccups, but, every risk has a mitigation and the process is showing
success.

73, KI4JPL
John Henry