Technicoil Corporation

Technicoil Corporation

September 27, 2010 16:30 ET

Technicoil Announces Expansion of Services Into Complimentary Pumping, Acidizing and Remedial Cementing Services and the Appointment of General Manager

CALGARY, ALBERTA--(Marketwire - Sept. 27, 2010) -


Technicoil Corporation ("Technicoil" or the "Corporation") (TSX:TEC) is pleased to announce a capital expansion program to provide complimentary pumping, acidizing, remedial cementing and nitrogen pumping services. These new services will be provided through the Corporation's Well Servicing Segment. In conjunction with this initiative, the Corporation is pleased to announce the appointment of Mr. J.E. (Jim) McQuarrie as General Manager to develop this strategic business opportunity.

Technicoil will further expand the scope of services it offers to its customers as a result of this capital expansion. The new service offering will complement the Corporation's rigless completion activities in the key resource plays, including the Montney, Horn River, Cardium and Bakken. Initially this equipment will provide pumping services required in the setting of plugs, perforations and drill-outs in the lateral section of newly drilled horizontal wells. The Corporation has committed $7 million to procure three singles and two twin cement & acid ("C&A") pumpers, and to establish a field lab facility. The lab facility will ensure chemical packages, including acid blends, friction reducers, gel plugs and inhibitors, are compatible with all formations and coiled tubing applications. The C&A pumpers are scheduled to be field operational by the end of the fourth quarter of 2010.

Mr. McQuarrie brings to Technicoil 34 years of oilfield service experience, primarily in the stimulation and pumping sector of the industry. Mr. McQuarrie held various positions of increasing responsibility at Dresser Titan, NitroGas, Halliburton and Canadian Oilfield Stimulation Services before founding StimCo Services Ltd. ("StimCo"). StimCo was developed successfully into an industry leader in the acidizing, nitrogen and remedial cementing sector in the Western Canadian Sedimentary Basin until it was acquired by a private pumping company. Subsequently Mr. McQuarrie was involved with various private and public oilfield service ventures. Mr. McQuarrie's technical and operational experience is welcomed by Technicoil as the Corporation continues to expand its service offering.

Technicoil Corporation is a Calgary-based oil and gas services company operating in the Western Canadian Sedimentary Basin. The Corporation's business is conducted through two divisions: Well Servicing and Drilling.

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