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Published Sep 29, 2008
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Calgary, Alberta, Canada, September 15, 2008 Global Energy Services Ltd. (“Global Energy”) (GLK – TSX Venture), announces that it has executed a joint venture agreement (the "Joint Venture") with International Lift Systems (ILS) 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.”
About International Lift Systems.
International Lift Systems, with twenty-five service points that covers the mid west and southern United States, specializes in Gas Lift, Completion Products and Plunger Lift systems for Domestic and International Oil and Gas Industry. Current employees of ILS have over 700 years of combined experience. In addition to sales and service experience and expertise, ILS has made a commitment to provide timely deliveries of the highest quality equipment that meets or exceeds the industry standards at affordable price. ILS commitment to excellence and doing the job right the first time has set ILS apart from the competition. Whether it’s a turnkey Plunger Lift project in the Rocky Mountains, a deepwater Gas Lift in the Gulf of Mexico or a project half-way around the world, the basis of ILS remains consistent.
More information about ILS can be found at www.internationalliftsystems.com
About Global Energy Services Ltd.
Global Energy Services Ltd. is an innovative oilfield service company that provides production services and communications solutions to the oil and gas industry. The production services segment utilizes its patented Activator hydraulic submersible pump to enhance gas production in conventional gas and coalbed methane wells. Global’s communications segment provides a complete suite of integrated products and solutions specifically suited for the oil and gas industry. Global was founded in 1994 and is listed on the TSX-V.
More information about Global Energy Services can be found at http://www.global-energy.ca
For further information please contact:
Derek M. Begin, President and Chief Executive Officer.
Farhan Farshori, Vice President, Corporate Development
Global Energy Services Ltd.
#10, 5920 - 11th Street S.E.,
Calgary, Alberta T2H 2M4
Tel: (403) 243-0820
Fax: (403) 243-3425
E-mail: dbegin@global-energy.ca
E-mail: ffarshori@global-energy.ca
Web site at: www.global-energy.ca
More information about International Lift Systems L.L.C.
Kelly Raper, President
International Lift Systems
11050 W. Little York
Bldg. P.
Houston Texas. 77041
Tel: 281 445 7676
Fax: 281 445 1134
E-mail: Kelly.raper@internationalliftsystems.com
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