Petro Field Industries Inc.
TSX VENTURE : PF

Petro Field Industries Inc.

January 20, 2006 17:21 ET

Petro Field Sales Exceed $7 Million in 1st Quarter of 2006

CALGARY, ALBERTA--(CCNMatthews - Jan. 20, 2006) - Petro Field Industries Inc. (TSX VENTURE:PF) (the "Company"), a manufacturer of production equipment for the western Canadian oil and gas industry, had consolidated sales of $7.2 million for the three month period ending December 31, 2005. This compares to sales of $5.7 million in the prior year's first quarter. The Company is pleased with the first quarter sales and looks forward to a continuing strong year.

The Board of Directors also approved an issuance of 488,000 Stock Options at an exercise price of $0.50 to directors, employees, and consultants on January 10, 2006. Directors were granted 220,000 of this total.

Petro Field Industries Inc. is a Calgary, Alberta - based fabricator of oil and natural gas production equipment. We also purchase, refurbish as necessary, and sell used production equipment.

Petro Field Industries Inc.'s Management Discussion & Analysis and audited financial statements for the fiscal year ended September 30, 2005 are available on www.sedar.com and on the Company's website, www.petrofield.com.


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

Contact Information

  • Petro Field Industries Inc.
    Bill Rollins
    President & CEO
    (403) 244-3333
    (403) 245-1821 (FAX)
    Website: www.petrofield.com.
    or
    Phoenix Communications Group
    Jason Shepherd
    Investor Relations
    (250) 717-1910
    Email: phoenixcom@telus.net