Article: PONDER INDUSTRIES WILL BUY PANTHER OIL TOOLS (U.K.) LTD. FOR $6 MILLION

Ponder Industries Inc. of Alice, Texas, agreed to acquire Panther Oil Tools (U.K.) Ltd., a privately held international full service rental and fishing tool company headquartered in Aberdeen, Scotland, for $1.25 million cash and 1.2 million shares of Ponder common stock, a transaction valued at approximately $6 million. Panther is a 15-year-old supplier of oil field fishing tools with annual revenues of $3 million, and strong operating cash flow. It operates in the United Kingdom, ...

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