X0202 4 2006-05-08 0000003982 Allis Chalmers Energy Inc. ALY 0001140824 HIDAYATALLAH MUNAWAR H 5075 WESTHEIMER, SUITE 890 HOUSTON, TX 77056 1 1 0 0 Chairman and CEO Common Stock 2006-05-08 4 M 0 400000 2.75 A 1245000 I Hidayatallah Family Trust Common Stock 2006-05-08 4 M 0 400000 3.86 A 1645000 I Hidayatallah Family Trust Common Stock 2006-05-08 4 M 0 41667 10.85 A 1686667 I Hidayatallah Family Trust Stock Option 2.75 2006-05-08 4 M 0 400000 0 D 2013-12-15 Common Stock 400000 0 D Stock Option 3.86 2006-05-08 4 M 0 400000 0 D 2015-02-01 Common Stock 400000 200000 D Stock Option 10.85 2006-05-08 4 M 0 41667 0 D 2005-12-16 2015-12-15 Common Stock 41667 83333 D One-third of these options became exercisable on each of December 16, 2003, 2004 and 2005. One-third of these options vested on each of February 2, 2005 and 2006. /s/ Munawar H. Hidayatallah 2006-05-09