exv4w6






 




    Exhibit 4.6



 



    
    



 




    BENEFICIAL
    OWNER ELECTION FORM



 



    The undersigned acknowledge(s) receipt of your letter and the
    materials referred to therein relating to the issuance by
    Allis-Chalmers Energy Inc. (the “Company”) of
    non-transferable warrants (the “Warrants”) entitling
    stockholders of record as of 5:00 p.m., New York City time,
    on June 1, 2009 to subscribe for an aggregate of
    35,683,688 shares of the Company’s common stock, par
    value $0.01 per share (“Common Stock”), on the terms
    and subject to the conditions described in the Company’s
    prospectus supplement, dated June 2, 2009 (the
    “Prospectus Supplement”).



 



    This will instruct you whether to exercise Warrants entitling
    the undersigned to purchase shares of Common Stock distributed
    with respect to the Common Stock held by you for the account of
    the undersigned, pursuant to the terms and subject to the
    conditions set forth in the Prospectus Supplement.



 



    Box 1.
    o
    Please DO NOT EXERCISE WARRANTS or purchase shares of
    Common Stock.



 



    Box 2.
    o
    Please EXERCISE WARRANTS and purchase shares of Common
    Stock as set forth below.



 


	 	 	 	 	 	 	 	 	 	 	 
	
 
	
 
	
    Number of Shares

    
	
 
	
 
	
    Subscription

    
	
 
	
 
	
 
	
 

	
 
	
 
	
    to Purchase
	
 
	
 
	
    Price
	
 
	
    Payment
	
 
	
 

	 

	

    Basic subscription


	
 
	
 
	
              
	
 
	
 
	
    x $2.50
	
 
	
    =          
	
 
	
    Line 1

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 

	

    You are entitled to subscribe for ONE share of Common
    Stock for each Warrant that you hold through your basic
    subscription right. If you include a number greater than the
    number of Warrants that you hold above, you will be deemed to
    have elected to purchase the maximum number of shares that you
    may purchase through your basic subscription right.



	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	

    Oversubscription


	
 
	
 
	
              
	
 
	
 
	
    x $2.50
	
 
	
    =          
	
 
	
    Line 2

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 

	

    The oversubscription right allows you to subscribe for
    additional shares that are not purchased by other Warrant
    holders. The maximum number of shares that you may purchase
    through your oversubscription right is 32% of the number of
    shares that you are entitled to purchase through your basic
    subscription right. If you include a number greater than such
    maximum number of shares above, you will be deemed to have
    elected to purchase the maximum number of shares that you may
    purchase through your oversubscription right. 











 




    Total
    Payment Required:
    $               
    (Sum of Lines 1 & 2)



 



    Box 3.
    o
    Payment in the following amount is enclosed: $



 



    Box 4.
    o
    Please deduct payment from the following account maintained by
    you as follows:



 


	 	 	 
	
 
	
 
	
 

	

    Type of account:


	
 
	
    


	
 
	
 
	
 

	

    Account number:


	
 
	
    










 


	 	 	 
	
 
	
 
	
 

	

    Amount to be deducted: $


	
 
	
    










 


	 	 	 	 	 	 	 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	

    Signature:


	
 
	
    

	
 
	
    Date:
	
 
	
    


	
 
	
 
	
 
	
 
	
 
	
 
	
 

	

    Print or type name: