Expro Sells Canadian Unit to Enseco

Expro International Group PLC on Thursday announced the sale of Expro Group Canada Inc (EGCI) to Enseco Energy Services Corp. (Enseco) by one of its indirectly wholly owned subsidiaries, Expro International B.V. (EIBV). The sale was completed on February 28th, 2007. The sale consideration is CAD$14 million, which is subject to a working capital adjustment, paid with cash of CAD$4.2 million and an unsecured convertible debenture in the aggregate nominal amount of CAD$9.8 million.

EGCI provides wireline, tubing conveyed perforating and propellant services in Canada. The sale of EGCI did not include the downhole tractor services or the Excape completion services previously supplied through EGCI as these assets were transferred into subsidiaries of Expro. Expro will continue to provide a variety of high value cased hole (tractors, downhole video etc), welltest and subsea services in Canada both on and offshore.

The principal amount of this convertible debenture may be converted by EIBV at any time up to the close of business on February 27, 2009 (the Maturity Date) into common shares in the capital of Enseco for and at a conversion price of $3.50 per common share for an aggregate amount of up to 2,800,000 common shares in the capital of Enseco, which after the conversion of all of the principal amount outstanding under this debenture would represent 10.74% of Enseco's presently issued and outstanding common shares prior to the exercise, redemption or conversion of any other convertible securities of Enseco. Enseco is entitled to redeem this debenture at any time prior to the Maturity Date and this debenture automatically converts into common shares in the capital of Enseco on the Maturity Date at a conversion price of $3.50 per common share.

In connection with this transaction, Enseco has also provided a covenant to EIBV that if the common shares in the capital of Enseco are not publicly trading by the close of business on June 29, 2007, Enseco will issue to EIBV warrants that allow EIBV to acquire 560,000 common shares in the capital of Enseco at an exercise price of $3.50 per common share and expires at the close of business on February 28, 2009, which after the exercise of all of these warrants would represent 2.3% of Enseco's presently issued and outstanding common shares prior to the exercise, redemption or conversion of any other convertible securities of Enseco.

Upon the conversion or redemption of all of the principal amount outstanding under this debenture and the exercise of all of these warrants, Expro would indirectly beneficially own and control 3,360,000 common shares in the capital of Enseco, representing beneficial ownership and control of approximately 12.62% of the issued and outstanding common shares of Enseco prior to the exercise, redemption or conversion of any other convertible securities of Enseco.

This debenture and these warrants were issued to EIBV as partial consideration for the sale of EGCI pursuant to the terms of a share purchase agreement dated February 28, 2007 among Enseco, EGCI and EIBV.

The sale of EGCI represents a continuation of the Group's strategy of making acquisitions and divestments which focus and enhance Expro's global market positions. Expro currently does not have any intention of acquiring any further securities of Enseco.

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