Technicoil Corporation
TSX : TEC

Technicoil Corporation

September 28, 2005 09:00 ET

Technicoil Announces a Six Rig Fleet Expansion

CALGARY, ALBERTA--(CCNMatthews - Sept. 28, 2005) -

NOT FOR DISTRIBUTION INTO THE UNITED STATES OR TO UNITED STATES WIRE SERVICES

Technicoil Corporation (TSX:TEC) ("Technicoil" or the "Company") today announces that its Board of Directors has approved an expanded capital expenditure program to construct an additional six coil tubing fracturing rigs expected to be delivered in the second half of 2006. Once completed, this construction program, combined with the current 2005 expansion program that is already underway, will increase the size of Technicoil's coil tubing fracturing and drilling fleet to a total of 30 rigs.

This expansion in capacity is being undertaken in anticipation of continuing strong industry demand for shallow gas and coal bed methane exploration and development. The estimated cost for the six new coil tubing fracturing rigs is $15,000,000 and will be financed through a combination of operating cash flow and bank debt.

Technicoil, utilizing patented coil tubing equipment and innovative technology, supplies drilling and service operations to the oil and gas industry in North America.

The foregoing includes various forward-looking statements about our markets, demand for our products and services, and future addition of new equipment. The statements are forward-looking statements in the context of Canadian and U.S. securities regulations. These forward-looking statements are not historical facts, but instead are based upon our analysis of currently available competitive, financial and economic data as well as our internal operating plans. They are inherently uncertain and investors must recognize that events and actual results could turn out to be significantly different from our expectations.

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