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8AHistoryofGulfMarkOffshoreOilandGasExplorationandDevelopmentIn1978thecompanyembarkedonaprogramofoilandgasexplorationanddevelopmentwiththeformationofGulfInterstateExplorationInc.ThissubsidiaryenteredintoanagreementwithaHouston-basedgeologicalandpetroleumengineeringconsultingrmfortheexclusiveuseoftheirexplorationtechnologyinTexasandOklahoma.TheMarineProjectsDivisionwasestablishedasthecompanybecameinvolvedinthegeneraloffshoreenergydevelopmentmarketthroughparticipationinmarineconstructionofoffshoreproductionfacilitiesandpipelines.Thisfurtherapplicationofcompanyexpertiseandcapabilitiescomplementedexistingengineeringservicesandprovidedentryintoanewmarketsegment.In1979GulfInterstateacquiredtheunusuallynamedcompanyHoldThatRiverInc.Itwasengagedinthebusinessofrivererosioncontrolfortheprotectionofpipelinecrossingsbridgeabutmentspowerlinetowersandaerialpipelinesupports.SovietsinAfghanistanandAnotherOilScareAlsoin1979theSovietUnionsinvasionandoccupationofAfghanistancausedfearofanothermajordisruptionoftheworldssupplyofoil.GulfInterstateBoardChairmanMarkMillardobservedForthesakeofnationalsecuritydependenceonforeignoilmustbereduced.Realisticallyfortheforeseeablefutureareductioninoilconsumptionwouldhavetobeaccompaniedbyincreaseduseofnaturalgasandcoalasenergysources.GulfAppliedResearchadaptsRODARtechnologyforanewbattleeldlandminedetectionsystemfortheU.S.Army.SellsGulfInterstateEngineeringCompany.SellsEntrix.Endsber-opticcableventure.SellsPipelinesandTerminalssegment.SellsGulfAppliedResearch.AcquiresEntrixanenvironmentalconsultingrm.EnergyVenturesisthenumberoneperformingstockinthecountry.19861988198719891978AnnualReportIllustrationForthesakeofnationalsecuritydependenceonforeignoilmustbereduced.Realisticallyfortheforeseeablefutureareductioninoilconsumptionwouldhavetobeaccompaniedbyincreaseduseofnaturalgasandcoalasenergysources.MarkMillardChairman1979