Wellco Energy Services Trust

Wellco Energy Services Trust

January 29, 2008 18:30 ET

Wellco Closes Sale of Production Testing Division

CALGARY, ALBERTA--(Marketwire - Jan. 29, 2008) - Wellco Energy Services Trust (TSX:WLL.UN) ("Wellco") advises that it has completed the sale of its Production Testing Division to 1374676 Alberta Ltd. (a private Alberta company). The assets will be operated by Lonkar Well Testing Ltd.

This transaction will in no way delay or otherwise affect the previously announced merger involving Wellco and Peak Energy Services Trust.

Wellco Energy Services Trust provides the following products and services:

- Accommodations (both camps and wellsite trailers)

- Full service catering

- Wastewater treatment rentals

- Surface equipment rentals

- Water and Wastewater treatment design and assembly

This press release may contain forward-looking statements based on the interpretation of industry indicators, reliance upon which involves substantial and unknown risk and uncertainty. These risks and uncertainties are beyond the control of Wellco Energy Services Trust, and no assurance can be given that any of these events or outcomes anticipated by these statements will transpire, or that Wellco Energy Services Trust will benefit therefrom.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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