Deepwell Energy Services Trust

Deepwell Energy Services Trust

February 19, 2008 23:59 ET

Deepwell Announces Opening of New Oilfield Waste Management Facility

CALGARY, ALBERTA--(Marketwire - Feb. 19, 2008) -


Deepwell Energy Services Trust (Deepwell) (TSX:DWL.UN) is pleased to announce the opening today of its new state-of-the-art oilfield waste management facility near Claresholm, Alberta.

"The addition of the Claresholm facility is an important step in Deepwell's growth strategy and position as a leading provider of oilfield waste management services in Western Canada," comments Robert Dodds, Deepwell's President and Chief Executive Officer.

The Claresholm facility will process, recover and dispose of upstream oilfield waste generated at any point from drilling through production. It has been approved by the Alberta Energy Resources Conservation Board for oilfield waste processing, Class Ib fluid disposal and custom treating activities. Claresholm will also offer tank and truck washing services.

The Claresholm facility is located approximately 11 km east of Claresholm, Alberta; detailed driving directions are available on Deepwell's website at This is an active region of oil and natural gas production and exploration which was not previously served by any third-party oilfield waste management provider in the local area.

Claresholm has the highest design capacity for waste processing among Deepwell's four facilities. The facility was designed and constructed to minimize turnaround time for Deepwell's customers and achieve high efficiency in processing wastes. Deepwell anticipates that final construction costs will near the previously disclosed estimate of $9 million.

Deepwell is a growth-oriented income trust that provides oilfield waste management services to the upstream petroleum and natural gas industry and a current monthly distribution to its investors of $0.06 per unit. Deepwell now operates from four locations across Alberta and currently employs 44 persons. The units of Deepwell trade on the Toronto Stock Exchange under "DWL.UN".

Additional information about Deepwell is available at and on Deepwell's website at

Certain statements in this press release constitute "forward looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Deepwell or its subsidiaries, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements.

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