Technicoil Corporation
TSX : TEC

Technicoil Corporation

October 20, 2005 19:26 ET

Technicoil Provides Rig Construction Update and Third Quarter Release Date

CALGARY, ALBERTA--(CCNMatthews - Oct. 20, 2005) - Technicoil Corporation (TSX:TEC) ("Technicoil") today announces that the first of the 11 new fracturing rigs currently under construction for 2005 began field operations on October 20, 2005. The second fracturing rig is also completed and in the process of final testing and will be available for work by October 24, 2005. Technicoil's suppliers are still anticipating that the remaining nine rigs currently under constriction will be completed prior to December 31, 2005. Technicoil is monitoring this schedule and any material delay in the schedule will be communicated accordingly.

In addition, Technicoil's drilling rig fleet has returned to full capacity following the completion of repairs to one of its drilling rigs that was damaged due to a roll-over in July. This rig returned to field operations on October 11, 2005.

Technicoil plans to release its third quarter results on Thursday, November 10, 2005.

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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