Wenzel Downhole Tools Ltd.
TSX : WZL

Wenzel Downhole Tools Ltd.

November 13, 2006 07:30 ET

Wenzel Enters Into a Settlement and Undertaking Agreement With the ASC

CALGARY, ALBERTA--(CCNMatthews - Nov. 13, 2006) - Wenzel Downhole Tools Ltd. ("WZL" or the "Company") (TSX:WZL) announced today that it has entered into a settlement and undertaking agreement with the Alberta Securities Commission (the "Commission") regarding the Commission's Docket E00314 hearing scheduled for January 22 to February 2, 2007. As a result of this agreement the Company is no longer a respondent in matters covered by this hearing and the Company is not aware of any other matters that are unresolved between it and the Commission.

About Wenzel Downhole Tools Ltd.

Wenzel Downhole Tools Ltd. is a manufacturer, seller and renter of drilling tools used in oil and gas exploration. In Canada the Company has its manufacturing and servicing facilities located in Edmonton, Alberta and its corporate offices in Calgary, Alberta. Its U.S. headquarters and service facilities are in Conroe, Texas, with a service and sales office in Casper, Wyoming and a sales office in Oklahoma City, Oklahoma.


The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

Contact Information

  • Wenzel Downhole Tools Ltd.
    Harvie Andre
    President and CEO
    (403) 205-6696
    (403) 265-8154 (FAX)
    or
    Wenzel Downhole Tools Ltd.
    Ron Dooley
    Chief Financial Officer
    (403) 205-6696
    (403) 265-8154 (FAX)
    Website: www.downhole.com