DIVERGENT Energy Services Corp.
TSX VENTURE : DVG

DIVERGENT Energy Services Corp.

April 22, 2015 09:00 ET

DIVERGENT Energy Services Corp.: Results of Field Testing the Linear Electric Submersible Pump

CALGARY, ALBERTA--(Marketwired - April 22, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

DIVERGENT Energy Services Corp. (TSX VENTURE:DVG) (the "Corporation") is pleased to announce the results of field-testing its prototype Linear Electric Submersible Pump (the "Pump").

The Corporation installed two Pumps as part of the test. We were able to pump at expected rates for up to five hours, when we experienced a mechanical issue with both Pumps. A bushing in the Pump did not have enough clearance around the shaft, resulting in excessive friction that eventually stopped the Pump from reciprocating. The bushing, which stabilizes the connection between the motor shaft and pump shaft, has been replaced with a new design and is ready for use in the field.

We have returned to the field to install a third Pump that incorporates the new bushing design, and we expect to be operational within one week. Updates will be provided as they become available.

The test results prove out the concept of using permanent magnet motor technology to operate submersible reciprocating pumps. The key accomplishments of the test are:

  • Installed the Pump without incident and in less time than anticipated;
  • Started up, monitored, made changes to, and shut down the Pump both remotely (via internet/cell devices) and directly from the control panel on location;
  • Operated at expected pumping rates;
  • Successfully retrieved the Pump from the wellbore; and
  • Developed standard operating procedures for future installations.

The design of the commercial version of the Pump has been finalized now that the test results have been reviewed. The new design is expected to deliver increased power and longer operating life.

Ken Berg, President and CEO of the Corporation, commented "The test results give me great confidence that we can deploy this technology across North America. Our client has been a great partner in this exercise and we are very excited to have reached this milestone."

ABOUT THE SYSTEM

The permanent magnet motor technology duplicates rod pump movement without rod string or surface lifting equipment. All moving parts are contained within the submersible pump housing, eliminating rod and tubing wear, making the Pump ideally suited for landing in deviated or horizontal oil wells.

Further information can be accessed at www.divergentenergyservices.com.

Headquartered in Calgary, Alberta, DIVERGENT Energy Services Corp. provides an array of specialized products and services that are used in the energy, mining, and industrial & agricultural water industries.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

(Not for dissemination in the United States of America)

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