Global Energy and International Lift Systems announce joint venture

Published Sep 30, 2008

Calgary, Alberta, Canada, September 15, 2008 Global Energy Services Ltd. announces that it has executed a joint venture agreement with International Lift Systems for the purpose of providing Global Energy’s patented Activator pump to the United States oil and gas industry. The Joint Venture provides a strong platform to rapidly develop the production optimization business leverage by the Activator pump technology.

The Joint Venture will be owned 50% by Global Energy and 50% by ILS. As part of the formation of the Joint Venture, Global Energy will license its intellectual property rights, to ILS within the Joint Venture and ILS will provide sales, marketing, service, and manufacturing. The Joint Venture start-up and ongoing capital needs will be proportionately funded by Global Energy and ILS. The Joint Venture will be known as International Lift Systems LLC with Global Energy Services branding on all products.

Commenting on the agreement, Mr. Derek Begin, president and CEO of Global Energy said, "ILS is an ideal joint venture partner given their excellent service throughout United States, their twenty-five service centers covering the mid west and southern United States, and their modern manufacturing facility in Houston. ILS is one of the fastest growing oilfield service companies in the United States and will help rapidly deploy Global’s patented Activator pump to meet the growing needs for a dewatering solution for mature conventional gas wells and unconventional gas wells throughout the United States."

Mr. Kelly Raper, president and CEO of ILS added, “Global Energy’s Activator pump has a proven track record in Canada and is an ideal solution for many mature conventional gas wells and unconventional gas wells in the United States. We look forward to working with Global’s on aggressively meeting the clear and present market need for the Activator technology.”