Divergent Energy Services Corp.
TSX VENTURE : DVG

Divergent Energy Services Corp.

March 13, 2015 09:00 ET

DIVERGENT Energy Services Corp.: Update on Installation of First Linear Electric Submersible Pump

CALGARY, ALBERTA--(Marketwired - March 13, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

DIVERGENT Energy Services Corp. (TSX VENTURE:DVG) (the "Corporation") is pleased to announce an update on the progress of the installation of its first Linear Electric Submersible Pump (the "Pump").

Following the identification of the pilot well, the installation began with the removal of the existing rod pump, sucker rods, and tubing from the well. The Pump was then installed on the end of the tubing and run back into the well to the same depth as the previous rod pump.

A standard electric cable was simultaneously run on the outside of the tubing from the Pump to the surface control panel. When communication was initiated between the surface control panel and the Pump, it was determined that certain electrical parameters were outside the anticipated operating parameters that had been written into the panel's software by the manufacturer of the panel. The Corporation engaged the manufacturer to accommodate the parameters recorded at the wellsite.

Hardware components have been sourced and new code has been written into the software to work with the observed operating parameters. The components are currently being shipped to the wellsite, where they will be installed for the anticipated test of the Pump, next week. The Corporation will provide an additional update once the thirty-day test has begun.

ABOUT THE PUMP

The Pump consists of a permanent magnet reciprocating motor and a reciprocating pump. This 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 that experience high rates of rod and tubing wear.

Further information about the technology 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.

This press release contains forward-looking statements, including, without limitation, statements pertaining to the installation of additional hardware and the starting of the Pump. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. Forward-looking statements are based on estimates and opinions of management of the Corporation at the time the information is presented. The Corporation may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Corporation undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.

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.

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