Technicoil Corporation
TSX VENTURE : TEC

Technicoil Corporation

May 12, 2005 19:19 ET

Technicoil Announces New Directors and Issue of Shares

CALGARY, ALBERTA--(CCNMatthews - May 12, 2005) -

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

Technicoil Corporation (TSX VENTURE:TEC) is pleased to announce the appointment of Edward C. Grimes and Andrew B. Zaleski to the Technicoil Corporation board of directors effective May 12, 2005. These appointments bring the total of directors to seven and the total number of independent directors to six.

Ed Grimes is located in Calgary, has an MBA from the University of British Columbia with a Major in International Business. Mr. Grimes has over 30 years of professional experience in the oil and gas services industry. Over his career he has served as president and chief executive officer of several well known Calgary based companies. From 1999 to 2004 Mr. Grimes served as president and chief executive officer of CDK Services Ltd., a public oilfield service company.

Also located in Calgary, Andrew B. Zaleski is chairman of the board of directors of Orbus Pharma Inc. Mr. Zaleski has held senior management positions in various Canadian based companies for over 30 years. From 1983 to 2001 Mr. Zaleski served as president and chief executive officer of Trimac Transportation Services Inc. and is currently a director of the same company.

Technicoil will issue 125,000 stock options to each Mr. Grimes and Mr. Zaleski at the May 12, 2005 closing price of $2.95.

Technicoil, utilizing patented coil tubing equipment and innovative technology, supplies drilling and service operations to the oil and gas industry in North America.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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