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Jones Currently, our core strength is our broad product offering that covers numerous markets, all positioned to leverage growth opportunities. We have a substantial ongoing mergers and acquisitions (M&A) effort that is backed by major investment in new product develop- ment. Often, growth companies focus solely on M&A, especially those backed by private equity. Forum is differ- ent because our sponsor is patient, thus giving us the abil- ity to invest in internal efforts like new product develop- ment while simultaneously pursuing M&A.”

While your product and service offering is diverse and comprehensive, what one or two areas of your business bring in the lion’s share of business?

Jones Currently, our "Drilling & Subsea" segment is the largest, most profitable part of Forum. Part of this is because Forum Oilfield Technologies was significantly larger than the other businesses but also because of strong growth we are seeing in the subsea business which is our second largest business. However, we are working hard to grow the "Production and Infrastructure" segment, espe- cially with the vast opportunities now being presented in

North America related to shale based activity.”

What business trends in the offshore industry have most significantly influenced the creation/direction of FET?

Jones Clearly, the deepwater trend has influenced our thinking because there are relatively few large providers of offshore and subsea products and services. Customers have been very supportive of our efforts so far and indica- tions are this will strengthen, provided we continue to deliver on our promises. Offshore operations are complex and the stakes are high so customers demand high per- formance products moderated by reliable technology.

This offers us the chance to leverage decades of real expe- rience into products customers can count on delivered by a company with staying power. Our ROVs and subsea products have some of the best track records in the indus- try and we intend to tell the world about it, something we have not been very good at because we've been too busy working.”

In your opinion, what have been the most dramatic changes in this business in the past 10 years?

Jones The dependence on remote technology to per- form subsea operations that are directly on the critical path. Previously, remote operations were treated as con- tingency measures and the hardware was designed as such.

Today, dependence on the ROV for critical tasks related directly to the success of the operation are routine. This has allowed dramatic changes to occur in equipment design, resulting in simpler designs that are more cost effective and reliable.

What do you count as the biggest CHALLENGES to running a successful subsea company today?

Jones Making sure you stay the course and deliver what the customer needs, not necessarily what he wants. It is true, customers are the source of all cash flow but what is the use if the flow is only short term? At Forum we want long term relationships with customers that are based upon sound technology backed by real operational expe- rience. Today, many competitors offer products that on the surface are technologically sexy but are questioned by the people doing the real work offshore. The link to the field is the challenge, which is why we intend to continue investing in our large subsea services business unit.

Currently, our services unit provides sale and rental of subsea hardware used for surface and subsea positioning, 52 MTR April 2011

Biography Charles Jones

Charles is a native Houstonian and graduate of the

Advanced Management Program at Harvard Business

School. He holds a Mechanical Engineering degree from the University of Houston where he serves as chairman of the Deans Leadership Advisory Board. Previously, he was

President and Chief Executive Officer of Forum Oilfield

Technologies which specializes in the design, manufac- ture and installation of specialized products and equip- ment used primarily in the drilling industry.

Formerly, Charles was Executive Vice President and Chief

Operating Officer of Hydril Company which was sold to

Tenaris S.A. in February 2007 for $2.1B. Hydril distin- guished itself as the industry leader in specialized prod- ucts enabling drilling the world’s deepest and most chal- lenging wells. During his tenure the company executed a successful turnaround, became public through an IPO, held a secondary stock offering, paid off $80m in debt and paid dividends to shareholders exceeding $180m.

Before joining Hydril, Charles served as Director of

Subsea Business for Cooper Cameron Corporation where he developed the global subsea production business. He is responsible for engineering and installation of numerous deepwater subsea production systems, holds several patents and has 30 years of energy industry experience.