Enventure Makes Management Changes

Enventure Global Technology has appointed Randy Merritt to the position of vice president of commercialization and marketing and Kevin Waddell to the position of vice president of engineering. Each was chosen from within Enventure's high performance work team for their ability to continue the development and implementation of Solid Expandable Tubular (SET*) Technology as one of the most game-changing technologies in the oil and gas industry.

"Both Randy and Kevin have been key members of the Enventure team that has taken SET Technology from a science project to reality, and made it a technology that is much sought after in the market today," said Mike Teers, chief operating officer for Enventure Global Technology. "Their knowledge and experience will enable Enventure to continue the global expansion of SET Technology - a technology destined to revolutionize the way wells are drilled and completed."

As vice president of commercialization and marketing, Merritt will be responsible for both the business development and marketing departments. During Merritt's fifteen years in the energy sector he has worked as a senior research engineer with Exxon and served as a vice president at TerraTek,Inc. where he directed research, marketing and sales. Merritt joined the Enventure business development department in May of 2000 and most recently served as global sales manager. Merritt holds a B.S., M.S., and Ph.D in Chemical Engineering from Clarkson University.

In addition to his new role as vice president of engineering, Waddell will also serve as acting vice president of technology. Waddell has over 21 years oilfield experience working in operational and business development positions around the world. He has been with Enventure since its formation in 1999 and served as engineering manager prior to his promotion to vice president. Waddell is a member of the Society of Professional Engineers and holds a bachelor's degree in Geological Engineering from the University of Arizona.

To date, Enventure has performed 106 installations and expanded more than 105,000 feet of pipe and 2,694 connections for 35 operators globally. Enventure Global Technology is the world's leading provider of solid expandable tubular solutions.