High Arctic Mobilizes RAPAD Rig for Thai Project

High Arctic Energy Services Trust has mobilized drilling equipment from Canada as part of a new Integrated Project Management (IPM) contract with TIC Energy (Thailand) Corporation Limited (TIC).

High Arctic will provide IPM services for TIC's planned development of the MAE Soon Field in Thailand, including asset and operations management, development of work programs and authority for expenditures, and supplying services and equipment. The initial phase of the multi-well project is scheduled to begin in the fourth quarter of this year and will utilize the RAPAD (Rack And Pinion Automated Drilling) 300 drilling rig, an enhanced version of High Arctic's proprietary 250K platform.

"This new contract with TIC in Thailand diversifies our IPM international customer base and launches our new RAPAD 300 drilling rig technology into an active drilling region," said Jed Wood, President and Chief Executive Officer.

The Trust also announced that Preston Kurash has recently joined the High Arctic team as Canadian Pressure Services Operations Manager. Mr. Kurash brings with him over 11 years of experience in the oil and gas industry, primarily in the service rig side. He recently served as Northern Operations Manager for Precision Well Servicing. Mr. Kurash will provide technical and management support to the pressure services business units.