Wayne Gombar
Director of Field Operations

PetroTeleMetrics Inc.

Websites:

• http://www.petrotelemetrics.com

Deployment of large scale Wireless Mesh Networks to Oil operators in the Former Soviet Union.

That depends on if I am telling you, or my wife is telling you....

The company is currently seeking $50-100K bridge funding to carry us until 2nd Qtr 2009, this will allow us to continue operating well into 2009.

We have been in Kazkhstan meeting with potential clients and have a contract pending with a major oil company, we have already applied for the radio spectrum from 2.4 to 6.0 GHz and will be allocated that spectrum as early as mid to late October.

We have already formed alliance with companies in that area that can provide installation services as well as the ability to get the frequencies that are required by our network.

A recent Reuters article stated:

Sept 24 (Reuters) - Credit Suisse initiated coverage of U.S. oilfield services and equipment sector with an "overweight" position, saying the sector has more powerful growth opportunities with higher rig count and rising service "intensity."

Non-North America land, deepwater equipment and services and subsea hardware offer 15 percent to 20 percent top-line growth potential for several years, the brokerage said.

"We believe world commodity fundamentals, customer cash flows and continued low reinvestment rates are supportive and that the sector has years of growth ahead of it," analyst Bradley Handler wrote in a note to clients.

The company is managed by degreed engineers.

PetroTeleMetrics was formed by a group of engineers that previously were together at a firm called BelCom in the early 1990's that was providing VSAT satellite terminals to oil companies operating in the Russian Far East. The company was later bought by Comsat.