Technicoil Corporation

Technicoil Corporation

March 16, 2005 11:38 ET

Technicoil Announces the Filing of Patent Impeachment Proceedings


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TECHNICOIL CORPORATION

TSX VENTURE SYMBOL: TEC

MARCH 16, 2005 - 11:38 ET

Technicoil Announces the Filing of Patent Impeachment
Proceedings

CALGARY, ALBERTA--(CCNMatthews - March 16, 2005) - On March 15, 2005
Nabors Canada ("Nabors") and Technicoil Corporation (TSX VENTURE:TEC)
("Technicoil") commenced proceedings in the Federal Court of Canada
impeaching the validity of a Patent recently granted to Savanna Energy
Services Corp. ("Savanna") with respect to certain coiled tubing
technology.

In the suit, Nabors and Technicoil claim that Canadian Letters Patent
No. CA 2,425,448 ("Savanna's Patent") are, and always have been, invalid
or void and have asked the Court for certain relief to protect the prior
rights to technology which Technicoil and Nabors claim is properly
theirs. Prior to the filing of Savanna's patent application, Technicoil
had filed its own patent application, which is currently pending, and
claims that Savanna has improperly claimed the same protection.

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

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

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Technicoil Corporation
    Arthur E. Dumont
    Chairman & Chief Executive Officer
    (403) 509-0705
    (403) 509-0701 (FAX)
    Email: adumont@technicoilcorp.com
    Website: www.technicoilcorp.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.