Wellco Energy Services Trust

Wellco Energy Services Trust

October 03, 2007 18:17 ET

Wellco Announces Disposition of Vacuum, Hydro-Vacuum and Water Truck Assets

CALGARY, ALBERTA--(Marketwire - Oct. 3, 2007) -

Wellco Energy Services Trust (TSX:WLL.UN) ("Wellco" or the "Trust") has entered into an agreement with Eveready Income Fund to sell its Vacuum, Hydro-vac and Water truck assets for total cash consideration of $5.0 million, net $4.3 million after expenses and certain liabilities related to the trucks. The transaction is expected to close on October 5, 2007. Wellco previously reported the results for this group of assets under the Drilling Services division as part of the surface equipment product line.

This disposition forms part of the Trust's ongoing assessment and review of its product lines with the objective of improving unitholder value and enhancing opportunities in the Trust's core businesses.

Wellco Energy Services Trust provides the following products and services:

- Accommodations (both camps and wellsite trailers)

- Full service catering

- Wastewater treatment rentals

- Surface equipment rentals

- Production testing and frac blow-back tanks

- Service rigs

- Water and Wastewater treatment design and assembly

This press release may contain forward-looking statements based on the interpretation of industry indicators, reliance upon which involves substantial and unknown risk and uncertainty. These risks and uncertainties are beyond the control of Wellco Energy Services Trust, and no assurance can be given that any of these events or outcomes anticipated by these statements will transpire, or that Wellco Energy Services Trust will benefit therefrom.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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