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PHI has flown more types of helicopters, under a greater variety of conditions,over a longer period of time, than any other civilian helicopter operator. In achieving more than nine million flight hours, we have maintained a safety record that is preeminent in the commercial helicopter industry. Service to major producers and independents in the domestic offshore oil and gas industry continues to be the largest segment of our operation. While there have been massive changes in the oil and gas industry, particularly in the offshore environment, we have sustained our longtime leadership position by helping customers achieve maximum efficiency and productivity- essential components of success in an environment where exploration, drilling, and production take place at greater depths each year. A new level of cooperation between companies operating in this environment has allowed PHI to become more than a service provider. Alliances have been formed in which we support customer goals and objectives by providing value-added services that are unique in the commercial helicopter industry. Part of our strength in serving the oil and gas industry, as well as our customers in other markets, is the broad range of helicopters that we offer. To provide our customers with the aircraft exactly suited to their needs, we offer Bell Models 206BIII, 206 L series, 407, 212, 214ST, 412/412SP; the American Eurocopter BO-105, and the AS350 B-2; and the Sikorsky S-76 A, A+ and C+ models Throughout the history of the offshore petroleum industry, most advances in helicopter transportation have been made as a result of PHI innovations. The experience and capabilities we developed and our dedication to excellence in serving this industry has enabled us to maintain our position of leadership. Deepwater Support:
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