New West Energy Services Inc.

New West Energy Services Inc.

January 25, 2012 13:55 ET

New West Energy Services Inc. Completes Asset Sale

CALGARY, ALBERTA--(Marketwire - Jan. 25, 2012) - New West Energy Services Inc. (TSX VENTURE:NWE) (the "Corporation") is pleased to announce that the Corporation has closed its previously announced sale of the operating assets of New West Drilling Fluids Inc. ("NWDF"), a subsidiary of the Corporation, for an aggregate purchase price of approximately $3.4 million. In connection with completion of the asset sale, Mr. Joseph Scarlett has resigned as a director and officer of the Corporation and of NWDF. Further details of the sale are set out in the Corporation's press release of January 17, 2012.

About New West Energy Services Inc.

The Corporation operates in the oil field service industry in Canada through its wholly-owned subsidiary BearStone Environmental Solutions Inc. BearStone provides environmental services to the upstream oil and gas industry and operates a fleet of specialized vacuum and water trucks.

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

Contact Information

  • New West Energy Services Inc.
    Gerry E. Kerkhoff
    President & Chief Executive Officer
    403.984.9798 or 1.888.977.2327 (BEAR)
    403.984.9799 (FAX)