Essential Energy Services Trust
TSX : ESN.UN

Essential Energy Services Trust

June 12, 2006 17:27 ET

Essential Energy Services Trust Announces $55 Million Credit Facilities

CALGARY, ALBERTA--(CCNMatthews - June 12, 2006) - Essential Energy Services Trust (TSX:ESN.UN) (the "Trust" or "Essential") is pleased to announce that it has finalized arrangements for its credit facilities with the National Bank of Canada and TD Commercial Banking. Essential has secured a $40 million revolving acquisition facility, as well as an additional $15 million revolving operating line, which provides the Trust with significant flexibility in moving forward with current operations, which may include additional strategic acquisitions.

Essential is an energy service trust that provides a range of essential production services to oil and gas producers across western Canada from northeast British Columbia to southwest Saskatchewan including service rigs, coil tubing, rod rigs, swab rigs, vacuum truck, pressure truck, tank truck, hydro-vac, steaming and hot oiling along with other related services. Essential focuses on post drilling production maintenance and enhancement services to ensure stable cash flows for Essential's unitholders.

Forward-Looking Statements: Certain information set forth in this press release, including a discussion of future plans and operations, contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. Actual results, performance or achievement could differ materially from those expressed in or implied by these forward-looking statements.


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

Contact Information

  • Essential Energy Services Trust
    James Burns
    Chief Executive Officer
    (403) 263-6778
    (403) 263-6737 (FAX)
    or
    Essential Energy Services Trust
    Duncan Au
    Chief Financial Officer
    (403) 263-6778
    (403) 263-6737 (FAX)
    or
    Essential Energy Services Trust
    Suite 950, 330 - 5th Avenue SW
    Calgary, Alberta T2P 0L4