Dallas Investment Banker Works to Answer Admiral Allen's Call for Skimmers in the Gulf

Red tape prevents firms with vessels from helping clean-up effort

Jun 10, 2010, 17:02 ET from Allegiance Capital Corporation

DALLAS, June 10 /PRNewswire/ -- Fred McCallister, an investment banker with Allegiance Capital Corporation, a Dallas based investment banking firm with offices in Dallas, Chicago, Minneapolis/St. Paul, Madrid, Seattle and Shanghai, announced the availability of specialized vessels for skimming oil, deploying oil booms and providing housing for personnel working in the Gulf of Mexico on the BP oil spill cleanup.

(Logo:  http://photos.prnewswire.com/prnh/20100216/DA55565LOGO)

Mr. McCallister states that he has contacted BP and the contractors BP uses to procure such equipment to no avail.  Mr. McCallister further states that, Adm. Thad Allen, the National Incident Commander, stated on national television today the desperate need for additional skimmers in the Gulf.  As an investment banker working in this area, Mr. McCallister has available 12 skimming vessels specifically designed to remove surface oil from the Gulf that are immediately available and several more that can be made available over the next few weeks.    

Mr. McCallister's experience with the process to date indicates that a clear need is being stated for this type of equipment but no one is responding to the firms who can provide the equipment needed.  If the need for equipment is as stated, Mr. McCallister's frustrations are that these firms designated by BP to procure equipment cannot move forward with their directives due to a lack of response from BP.  

SOURCE Allegiance Capital Corporation