Saber Chooses Capital City Energy For Botswana Engineering Project
Capital City Energy Group, Inc. announced that Saber Exploration Pty Limited, a leading Botswana-based exploration and development company, has selected Eastern Well Services, LLC to provide engineers for Saber's project in Botswana, Africa. Eastern Well Services is a wholly owned subsidiary of Capital City.
Eastern will support Saber's exploration and development activities surrounding coal bed methane prospects in the country, and will provide other support services such as onsite supervision of drilling operations, assistance with surface hole selection, engineering services and other customary support services.
"We are pleased to have been selected for these high-profile exploration and development activities in Botswana," said Daniel Coffee, Chief Operating Officer of Capital City. "Eastern is quickly developing a reputation for helping emerging energy companies, and we look forward to deploying our team of engineers to the project. With energy prices near record levels, companies both domestically and internationally continue to look for new exploration venues to capitalize on rising demand, making us the ideal partner."
Eastern is Capital City's oilfield services company which plans to operate in many of the significant oil and natural gas producing regions of the United States, providing oil and natural gas companies with wireline, fracturing, logging and testing services. We plan to compete with our larger peers by offering technologically advanced equipment and services at competitive prices and highly responsive customer service.
Capital City recently went public through the merger with a publicly traded company. For the fiscal year ended 2007, Capital City had revenue of approximately $2.9 million, and EBITDA, a non-GAAP measure, of $1.9 million.