Article on Cabo Panama in Energy & Mining International – Winter 2012

I was delighted to see an article on Cabo Drilling (Panama) Corp. in the Winter 2012 issue of Energy & Mining International. Not only does this give Cabo Panama some of the exposure it deserves, it also brings focus to several significant aspects of this company you should be aware of. Please click on this link in order to read the article in its entirety:
Link to Magazine Article


With respect to this article, I want to first draw your attention to what Herb Butler, General Manager for Cabo Drilling (Panama) Corp., says in the second paragraph, “...the firm builds drill pads, helicopter pads and trails, and clears land for its current project.” This is all part of the ‘Full Service’ contract Cabo has with MPSA, the Panamanian subsidiary of Inmet. This type of contract is distinctive for Cabo, and represents a tremendous opportunity for the company to work with its clients, meet their needs and provide service that goes beyond putting core in the box. The business world has always recognized the efficiency of producing more revenue from current clients, as against simply adding more clients. Not only does this principle derive a greater return from marketing expenditures, it also maximizes the resources dedicated to the bidding and tendering process. It should be noted that Cabo Drilling is actively seeking out more full service type contracts.

Secondly, I want to emphasize the potential Cabo has in Panama. We have an excellent relationship with MPSA and their success is our success. We are optimistic that the number of drills in operation will expand in 2012, and that our full service contract will become a model for future contracts.

Lastly, I hope you notice the emphasis Cabo places on its people. Herb Butler, himself a man with tremendous experience, is dedicated to building a workforce of local individuals and coaching them to ensure they gain valuable experience. Evidence of this is reflected in the article where Herb points out “...when the industry faced hardships in 2009 and 2010, Cabo Panama and Cabo Columbia continued to grow at a moderate rate.” Cabo Drilling and Herb Butler are putting together the people who will form the core of a vigorous drilling industry in Central and South America.

Kevin Hull
IR, Manager