Wellco Energy Services Trust

Wellco Energy Services Trust

September 17, 2007 07:00 ET

Wellco Declares September Distribution

CALGARY, ALEBRTA--(Marketwire - Sept. 17, 2007) -

Wellco Energy Services Trust (TSX:WLL.UN) (the "Wellco or the Trust") has declared a cash distribution of $0.035 per unit for the period September 1, 2007 to September 30, 2007 to be paid on October 15, 2007 to unitholders of record on September 28, 2007. The ex-distribution date is September 26, 2007.

This 50% reduction compared to the prior months' cash distribution is in response to prolonged weakness in western Canadian oil field service activity, a consequence of continuing high natural gas inventories. This change will permit Wellco to bring its distribution ratio within the desired target range and execute its long term strategic plans.

The Company's utilization rates in many of its product lines are tracking current drilling activity. None-the-less Wellco does anticipate that its accommodation and catering business will have a good winter as a record portion of the fleet is committed to customers operating in the Alberta oil sands.

Wellco is currently engaged in an assessment and review of each of its product lines with the objective of improving shareholder value through the enhancement of opportunities in its core businesses. The Company will provide timely information to unitholders as this process develops.

Wellco Energy Services Trust provides the following products and services:

- Accommodations (both camps and wellsite trailers)

- Full service catering

- Wastewater treatment

- Surface equipment rentals

- Production testing and frac blow-back tanks

- Service rigs

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 there from.

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

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