<PAGE>
 
       
       
                               TABLE OF CONTENTS
 

<TABLE>   
<S>                                                                          <C>
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
</TABLE>

    
 
APPENDICES
    
  Appendix A--Purchase Agreement     
    
  Appendix B--Opinion of Schroder Wertheim & Co.     
   
  Appendix C--Annual Report on Form 10-K, as amended, of the Company for the
              fiscal year ended September 30, 1994     
   
  Appendix D--Proxy Statement of the Company dated June 26, 1995     
   
  Appendix E--Quarterly Report on Form 10-Q, as amended, of the Company for the
              quarter ended June 30, 1995     
   
  Appendix F--Form 8-K of the Company dated November 13, 1995     
 
 
                                       i