TSX-V: "GLK"
Shares Outstanding 20,519,293
CALGARY, July 23 /CNW/ - Global Energy Services Ltd. ("Global Energy")
(GLK - TSX Venture), is pleased to announce the introduction of a unique
production optimization solution which allows natural gas producers to
increase gas production without temporarily or permanently damaging reservoir
formation.
The new production optimization solution, called "Activator Lift,"
utilizes Global Energy's patented Activator hydraulic submersible pump to
dewater conventional and unconventional gas wells with nuisance amounts of
water that impedes optimal gas production. The solution is advantageous over
competing technologies because it ensures the lifted water does not move back
into the reservoir formation, which can cause temporary or permanent decrease
in gas production.
In initial trials, two gas producers, who utilized the Activator Lift
solution for several wells, were very pleased with the service. Additionally,
several other gas producers are keen to utilize the innovative solution.
"We continue to leverage our patented hydraulic pump technology and
create production optimization solutions and services," said Farhan Farshori,
Vice President, Corporate Development. "Our Activator Lift solution is a
significant development as it fulfills a strong demand which existing
technology cannot effectively fulfill. We expect to sign on-going and
long-term contracts for this solution, which will increase exposure on our
production services product portfolio."
About Global Energy Services Ltd.
Global Energy Services Ltd. is an innovative oilfield service company
that provides production services and communications solutions to the oil and
gas industry. The production services segment utilizes its patented Activator
hydraulic submersible pump to enhance gas production in conventional gas and
coalbed methane wells. Global's communications segment provides a complete
suite of integrated products and solutions specifically suited for the oil and
gas industry. Global was founded in 1994 and is listed on the TSX-V.
More information about Global Energy Services Ltd. can be found at
http://www.global-energy.ca
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS
RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS
MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.
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