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PRELIMINARY COPY--FOR THE INFORMATION OF THE
SECURITIES AND EXCHANGE COMMISSION ONLY.
TABLE OF CONTENTS
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INTRODUCTION................................................................ 1
General................................................................... 1
Purpose Of The Special Meeting............................................ 1
Record Date, Voting Securities And Quorum................................. 1
Vote Required............................................................. 2
No Appraisal Rights....................................................... 2
Proxy Information......................................................... 2
THE ENERGY INDUSTRIES SALE PROPOSAL......................................... 3
Background of the Energy Industries Sale Proposal......................... 3
Fairness Opinion of Financial Advisor..................................... 6
Recommendation of the Company's Board of Directors........................ 9
Terms of the Energy Industries Sale....................................... 11
Voting Agreement of Major Stockholder..................................... 13
Stockholder Approval...................................................... 13
No Rights of Appraisal.................................................... 13
Resolutions Proposed For Adoption By Stockholders......................... 14
Fees And Expenses......................................................... 14
Certain Federal Income Tax Consequences................................... 14
Financial Information..................................................... 14
Accounting Treatment...................................................... 15
Regulatory Approvals...................................................... 15
Relation To The Proposed Sale of Cimarron................................. 15
Certain Information Concerning Weatherford Enterra........................ 15
Business of Energy Industries............................................. 15
SELECTED FINANCIAL DATA..................................................... 19
UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS....................... 20
ENERGY INDUSTRIES UNAUDITED FINANCIAL STATEMENTS............................ 26
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.............. 37
MARKET PRICES OF COMMON STOCK............................................... 38
INDEPENDENT ACCOUNTANTS..................................................... 38
OTHER MATTERS............................................................... 38
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE............................. 38
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APPENDICES
Appendix A--Purchase Agreement
Appendix B--Opinion of Schroder Wertheim & Co.
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