Divergent Energy Services Corp.
TSX VENTURE : DVG

Divergent Energy Services Corp.

December 16, 2014 14:31 ET

REPEAT-DIVERGENT Energy Services Corp.: Extension of Linear Motor Exclusive Distribution Agreement and Update to the Deployment of Linear Electric Submersible Pump System

CALGARY, ALBERTA--(Marketwired - Dec. 16, 2014) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

DIVERGENT Energy Services Corp. (the "Corporation") (TSX VENTURE:DVG) is pleased to announce that it has signed a three-year extension, to December 31, 2017, for the exclusive rights to the Linear Motor technology it has co-developed with a Chinese manufacturer.

The new agreement, which extends the exclusivity for Canada, Mexico, and for Petroleum Development Oman (the state oil company in Oman), now also includes exclusivity in the United States for North Dakota, Montana, Wyoming, Colorado, and Utah.

The Linear Motor, using permanent magnet motor technology, combines with a reciprocating downhole pump and a surface controller to make up the Linear Electric Submersible Pump system.

The Corporation also announces that it has been asked to move the planned three-well pilot test of the system from mid-December into January so that the Christmas break does not interfere with the proper monitoring of the wellbores. When the client's field personnel are back from the holidays, and the service rig schedule is confirmed, installations will begin. Once installed, the Corporation will issue a press release to confirm the Motors have been deployed.

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.

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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