e-Quisitions Inc.
TSX VENTURE : EQU

e-Quisitions Inc.
Central Alberta Well Services Corp.

Central Alberta Well Services Corp.

July 21, 2005 16:47 ET

e-Quisitions and Central Alberta Announce Closing of Debenture Financing and Special Meetings for Reverse Takeover

CALGARY, ALBERTA--(CCNMatthews - July 21, 2005) - e-Quisitions Inc. (TSX VENTURE:EQU) ("e-Quisitions") and Central Alberta Well Services Corp. ("Central Alberta") announce that they are proceeding with the previously announced reverse takeover transaction (the "Transaction"). The Transaction will be completed by way of plan of arrangement and meetings are scheduled for August 30, 2005 for the shareholders of e-Quisitions and the shareholders and debentureholders of Central Alberta. At the meetings, the shareholders of e-Quisitions and Central Alberta will be asked to approve the Transaction and change the business of e-Quisitions to an oilfield service business with service rigs and coil tubing units as its main assets. The shareholders will also be asked to approve the change of name of e-Quisitions to Central Alberta Well Services Corp. and to consolidate e-Quisitions' common shares on a one for twenty basis. Five new directors will be appointed to the board of e-Quisitions and KPMG LLP will be appointed as the new auditor. The Transaction will be subject to certain conditions, including approval by the shareholders of e-Quisitions and the shareholders and debentureholders of Central Alberta, receipt of all required regulatory and TSXV approvals and other customary conditions. The Joint Circular for the meetings of e-Quisitions and Central Alberta will be mailed to all securityholders of the companies on July 29, 2005.

TSX Venture Exchange: EQU 18,000,000 Common Shares

READER ADVISORY

The reader is cautioned that the preparation of financial statements in accordance with generally accepted accounting principles requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. These estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and as the economic environment changes.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • e-Quisitions Inc.
    Tim Sebastian
    Director
    (780) 420-4707
    Email: tjsebastian@bryanco.com
    or
    Central Alberta Well Services Corp.
    Darryl Wilson
    Director
    (403) 341-3933 or Toll Free: 1-877-341-3933
    Email: darrylwilson@cenalta.ca
    or
    e-Quisitions Inc.
    2600 Manulife Place
    10180 - 101st Street
    Edmonton, Alberta
    or
    Central Alberta Well Services Corp.
    7883 Gaetz Avenue
    Red Deer, Alberta