Rheochem to Provide Drilling Services Onshore Western Australia

Rheochem has signed a Master Services Agreement with ARC Energy Limited for the provision of drilling fluids and associated services and to support drilling and production operations in onshore Western Australia for a period of two years. ARC is a wholly owned subsidiary of ASX listed Australian Worldwide Exploration Limited.

Haydn Gardner, Chief Executive of Rheochem, commented, "We are extremely pleased to be working with ARC and this agreement adds further depth to our order book over the next two years. Despite the current world economic uncertainty, Rheochem is in an excellent financial position to continue its growth, with a strong Balance Sheet and good cash flows."

 

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