Flotek Announces Patent Settlement and Names New Director.HOUSTON -- Flotek (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FLTK FLTK Fast Light Toolkit FLTK Fast Light Tool Kit ) announces the settlement of the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. with Milam Tool Company has been finalized without any judgment against our firm. Mediation of the matter resulted in a joint agreement to end the litigation without any admission of patent infringement by our Turbeco subsidiary. This agreement will cease all legal expenses concerning this matter which have been significant over the past two years. Flotek Industries is pleased to announce the recent election to our Board of Directors of Mr. Richard O. Wilson. Mr. Wilson brings an outstanding record of accomplishments in the oil & gas industry. Mr. Wilson is a Rice Institute graduate with a BS in civil engineering; was group vice president and deputy GM of Brown & Root World Offshore Operations and served as a director of Brown & Root from 1973-1979. Mr. Wilson has served as chairman of Dolphin Drilling A/S; AOC AOC, n an acronym for the Aromatherapy Organizations Council. International and OGC International PLC and is currently serving as director for Callon Petroleum Inc. Mr. Wilson is an Offshore Construction consultant for the Hydrocarbon Industry with 48 years experience in the North Sea, Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , Gulf of Paria, Lake Maracaibo, South Atlantic Offshore Brazil and Angola. Flotek is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. involved in the manufacturing and marketing of innovative downhole equipment, specialty chemicals and engineering, design and construction of equipment for cementing and stimulation. It serves major and independent companies in the international oilfield service industry. |
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