X0202 4 2004-10-11 0000003982 ALLIS CHALMERS CORP ALY 0001227412 PEREZ VICTOR M 5075 WESTHEIMER, SUITE 890 HOUSTON, TX 77056 0 1 0 0 Chief Financial Officer Option to Purchase Common Stock 4.85 2004-10-11 4 A 0 55000 0 A 2014-10-11 Common Stock, par value $.01 per share 55000 55000 D The option is exercisable (a) immediately with respect to 18,333 shares, (b) on October 11, 2005 with respect to an additional 18,334 shares, and (c) on October 11, 2006 with respect to the remaining 18,333 shares. Not applicable. Victor M. Perez 2004-10-13