Maritech evaluates mature oil and gas properties to determine both the economic life remaining and the future abandonment and decommissioning liabilities. Even with a positive cash flow, many mature properties have a negative net worth because of the abandonment and facility removal obligations that are looming in the not too distant future. Maritech acquires these end-of-life properties, manages the remaining production—often extending their economic life through well intervention operations and development drilling—and then performs all necessary well abandonment and decommissioning services. Maritech has created a very successful niche business strategy in the Gulf of Mexico that has added significant value to it’s shareholders. Mr. McCarroll will explain this strategy and review the growth of the company and several of it’s successful exploitation projects.

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