Technicoil Corporation
TSX : TEC

Technicoil Corporation

January 08, 2008 17:27 ET

Technicoil Announces Chief Executive Officer Appointment

CALGARY, ALBERTA--(Marketwire - Jan. 8, 2008) -

NOT FOR DISTRIBUTION INTO THE UNITED STATES OR TO UNITED STATES WIRE SERVICES

Technicoil Corporation ("Technicoil" or the "Corporation") (TSX:TEC) today announces the elevation and appointment of Mr. Marvin D. Clifton as Chief Executive Officer of Technicoil effective February 1, 2008. Mr. Clifton has been serving as President and Chief Operating Officer of Technicoil for the last five years and prior to that has held various senior executive positions in the oilfield service business.

The position to be filled by Mr. Clifton became open when Technicoil's current Chief Executive Officer, Mr. Arthur E. Dumont, decided to step down from that role after having fulfilled the mandate he assumed when he joined Technicoil. Mr. Dumont will, however, remain as a member of the Board of Directors and, at the Board's request, will be providing advisory and business development consulting services to the Corporation in respect of various corporate matters. Mr. Dumont changes his role at Technicoil effective February 1, 2008.

Mr. Robert D. Steele, Chairman of the Board of Directors of Technicoil said, "From Technicoil's point of view, we are delighted to have Marv Clifton assume the leadership helm and bring to Technicoil his extensive management and operational experience in the oilfield service sector. In addition, Technicoil will continue to benefit from Art Dumont's service industry experience and leadership as a member of our Board of Directors."

Mr. Clifton, the new Chief Executive Officer of Technicoil stated, "I am delighted that Art is remaining as an active member of our Board of Directors and will continue to be available to Technicoil's management group."

Technicoil provides drilling and service operations to the oil and natural gas industry in Canada. Technicoil operates six coiled tubing drilling rigs, eight conventional well service rigs, and 18 coiled tubing service rigs.

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