Allis-Chalmers Chairman, CEO Names E&Y Entrepreneur of the Year Finalist

Allis-Chalmers Energy announced that its Chairman and CEO, Munawar H. Hidayatallah, is a finalist for the Ernst & Young Entrepreneur Of The Year® 2009 Award in the Houston & Gulf Coast Area Program. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Mr. Hidayatallah was selected as a finalist from nearly 550 nominations by a panel of independent judges. Award winners will be announced at a special gala event on June 18, 2009 at the InterContinental Houston Hotel.

Mr. Hidayatallah stated, “I want to thank all the stakeholders of Allis-Chalmers for helping me achieve this prestigious nomination as a finalist for the Entrepreneur of the Year 2009 award in the Houston and Gulf Coast Area Program. Allis-Chalmers is a multi-faceted oilfield service company that was ranked as the third fastest growing company among publicly traded companies in Fortune’s 100 Fastest Growing Companies list for 2008. We also had the honor of being ranked first in revenue growth by Fortune among the list of companies with a 124% three-year annual growth rate, 15th in earnings per share growth with a 96% three-year annual rate and 28th out of 100 in total return with a 47% three-year annual rate.”

The Ernst & Young Entrepreneur Of The Year awards program celebrates its 23rd anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world.

Regional award winners are eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 14, 2009. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.