10 years ago this week

Alaska Journal of Commerce

Jan. 18, 1993

Arco exploration chief says it's time to re-test

By Tim Bradner

Alaska could encourage more oil exploration with a new licensing system that would make more land available to oil companies, so they can put their money into drilling wells and finding oil, a key Arco Alaska executive says.

James Davis, Arco exploration manager, said a bill to be introduced into the Legislature by the Hickel administration will include an "exploration licensing" program, a supplement to the state's existing system, that will streamline and speed exploration in parts of the state that have not been adequately tested.

"Vast areas of Alaska have not been tested, or were only lightly explored using now outdated geological concepts and outdated technology. It's time to look at those areas again," Davis told the Resource Development Council at its Jan. 7 breakfast meeting.

"Our people have come up with new ideas about the geology of Alaska and have tested those ideas with successful drilling," he said, pointing to ARCO's recent successes in its "Sunfish" Cook Inlet discovery and recent new finds in the Colville River delta on the North Slope, areas that have been drilled before.

Davis said Alaska's current leasing system worked well in the past, and he admitted there are critics of the new proposal being put forth.

Some have found fault with the idea, claiming it would shut out smaller companies or independents from gaining land positions, and favor large companies who can commit to multi-million dollar exploration programs.

But those problems are solved by retaining the current leasing system, Davis said.

Alaska Journal of Commerce

Jan. 18, 1993

Employees buy out Comtec

By Margaret Bauman

Am employee group at Comtec Enterprises, Ltd., a major supplier of communications systems, has completed purchase of the company, in a move that marks the retirement of cofounder Ron Wisemore.

The buyout ensures the company will remain Alaskan owned and operated, said Noel Janda, president of Comtec Business Systems Inc., a subsidiary of CEL.

"We examined an asset buyout and elected to go with the stock purchase for tax reasons," Janda said. The purchase price of Wisemore's interest in the firm was not disclosed.

"Ron's concern was that the people (he employed) remain in place," he said.

"The stock buyout assures that same stable management, the same core management we had before; the same customer oriented mentality," added Dennis Hardy, director of business systems for CBSI. "(Wisemore) did not want Comtec as an entity to go away."

Dennis McCracken, the other founder, retired in February 1991.

-- Compiled by Ed Bennett