SOURCE: Coil Tubing Technology, Inc.

April 20, 2006 09:30 ET

Coil Tubing Technology, Inc. Tests and Deploys Improvements to "Jet Motor"

SPRING, TX -- (MARKET WIRE) -- April 20, 2006 -- Coil Tubing Technology, Inc. ("CTT") (OTC: CTBG), today announced it has successfully completed testing and is now deploying a new bit cutting structure for the "Jet Motor," a unique coil tubing string designed to clean oil wells in harsh and corrosive water, brine, solvent, acid, oil, and nitrogen environments. This improvement to the Jet Motor has received "Patent Pending" status from the U.S. Patent and Trademark Office.

Of the Jet Motors currently in the field, approximately 30 have been retrofitted with this improved bit structure. CTT anticipates retrofitting the remaining Jet Motors through the end of the second quarter of 2006.

"During the first cycle of testing and deployment of the Jet Motor, we discovered an improvement to the bit that would significantly improve the drilling and jetting process," stated Jerry Swinford, President of CTT. "Both rate and quality of drilling were improved with this structural change versus previous designs of the bit and certainly over conventional drilling methods."

About Coil Tubing Technology, Inc. (CTT)

Coil Tubing Technology, Inc. (CTT) has specialized in the design of proprietary tools for the coil tubing industry since 1990, concentrating on four categories of coil tubing application: thru tubing fishing, thru tubing work over, pipeline clean out, and coil tubing drilling. CTT was founded in 1998 by Jerry Swinford, an oilfield tool designer with more than 15 patents granted or pending and more than 25 years experience in the creation of oilfield tools.

For more information, please visit:

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current estimates and projections about Coil Tubing Technology, Inc.'s business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Such factors include, but are not limited to, the Company's ability to execute effectively its business plan and acquisition strategy, changes in market activity, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. These and other risks are described in the Company's filings with the Securities and Exchange Commission, which should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company assumes no obligation to update information concerning its expectations.

Contact Information

  • Contact:
    Chicago Investor Relations LLC