Wellstream is providing the market with an update on current trading. The Board is pleased to announce that the Company’s results for the year ended December 31, 2007 will be significantly ahead of current expectations. This is primarily due to the progress that has been made during the start-up of the company’s Brazil facility and the close out of a number of contracts, which exceeded management’s expectations. In addition, the Company is now intending to further enhance production in Brazil by mobilizing an additional shift in the plant. Wellstream has also continued to see strong throughput and product mix at the Newcastle facility.