Central Alberta Well Services Corp.
TSX VENTURE : CWC

Central Alberta Well Services Corp.

September 27, 2005 19:08 ET

Central Alberta Announces Listing, Trading of Securities and Granting of Options

CALGARY, ALBERTA--(CCNMatthews - Sept. 27, 2005) - Central Alberta Well Services Corp. (TSX VENTURE:CWC) ("Central Alberta") is pleased to announce that the TSX Venture Exchange ("TSXV") issued a Bulletin today granting final approval to the previously announced Plan of Arrangement and Short Form Offering Financing which was led by Wolverton Securities Ltd. Central Alberta's common shares will commence trading on the TSXV on Wednesday, September 28, 2005 under the name Central Alberta Well Services Corp. and under the new trading symbol "CWC". Central Alberta is also pleased to announce that it has now successfully raised gross proceeds of approximately $22,000,000 in its going public financing transactions.

Letters of Transmittal for the conversion of shares of e-Quisitions and the predecessor company to Central Alberta were previously sent to all securityholders of those companies by Central Alberta's transfer agent, Olympia Trust, requesting that all previous share certificates be returned to the agent for re-issuance under the new company name and to reflect the share consolidation of e-Quisitions approved at the August 30, 2005 shareholder meetings.

Central Alberta also announces that the board of directors approved the granting of stock options to officers, directors, employees and consultants of Central Alberta in conjunction with the closing of the Arrangement. Pursuant to the Option Plan, the directors approved the issuance of 650,000 stock options to acquire common shares of Central Alberta at a price of $1.15 per share. The options are for a term of five years with vesting provisions.

Central Alberta also announces, subject to regulatory approval, the appointment of Thomas E. Lewis as Chief Financial Officer of the company. Mr. Lewis is a CA with over 20 years of professional financial experience in oil and gas service, manufacturing and corporate finance. He brings a strong domestic and international business background to Central Alberta and will be located in
Central Alberta's offices in Red Deer.

Central Alberta is based in Red Deer, Alberta and provides well servicing services to oil and natural gas exploration and development companies. It currently operates in the exploration and production areas of the Western Canadian oil and gas sedimentary basin. For more information about Central Alberta please access the company's website at www.cen-alta.ca.

Issued and Outstanding: 6,514,138 Common Shares

READER ADVISORY

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information. Actual future results may differ materially from those contemplated.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Central Alberta Well Services Corp., Red Deer, Alberta
    Darryl Wilson
    President and Chief Executive Officer
    (403) 341-3933 or Toll Free: 1-877-341-3933
    Email: darrylwilson@cenalta.ca
    Website: www.cen-alta.ca
    or
    Central Alberta Well Services Corp., Calgary, Alberta
    Jeff Thomson
    Director
    (403) 538-3465