Technicoil's First New Fracturing Rig Begins Operations

Technicoil Corporation says that the first of the 11 new fracturing rigs currently under construction for 2005 began field operations on October 20, 2005. The second fracturing rig is also completed and in the process of final testing and will be available for work by October 24, 2005. Technicoil's suppliers are still anticipating that the remaining nine rigs currently under constriction will be completed prior to December 31, 2005. Technicoil is monitoring this schedule and any material delay in the schedule will be communicated accordingly. In addition, Technicoil's drilling rig fleet has returned to full capacity following the completion of repairs to one of its drilling rigs that was damaged due to a roll-over in July. This rig returned to field operations on October 11, 2005.