TSX-V: "GLK"
Shares Outstanding 20,535,959
CALGARY, Sept. 3 /CNW/ - Global Energy Services Ltd. (the "Corporation"
or "Global Energy") ("GLK" TSX Venture) provides an operational update for the
productions services segment.
Canadian Operations Update
- Global Energy was the winner of Energy TV's 2008 "Environmental -
Carbon Reduction" award.
- Introduced unique production optimization solution called Activator
Lift; results from implementation have been very strong.
- Commenced testing our patented pump utilizing wind and solar energy
for a major gas producer in Southern Alberta.
- A newly designed production optimization product increased gas
production for our client by more than 100 percent; details of this
new product will be available after product field testing.
- New conveyance solution for the deployment Activator Pump has
contributed to an increase in orders and installation backlog.
United States Operations Update
- Finalizing pump system for first install in East Texas for a leading
gas producer; installation slated for late September 2008.
- Completed first prototype pump for Barnett Shale applications;
installation for major Barnett Shale producer slated for late
September 2008.
Marketing Update
- Our Activator Pump was featured in the August 2008 issue of World Oil
magazine.
- The Activator Pump will also be featured in an upcoming issue of Oil
and Gas Journal magazine and Roughneck magazine.
- Farhan Farshori, Vice President of Corporate Development, will be
presenting at the 6th Annual Energy and Clean Technology Venture
Forum on Thursday, September 25, 2008 in Houston, Texas; the
presentation will include information describing the Company's
technology, market penetration, and market potential.
"Our environmental innovation in operations has resulted in winning an
environmental award - we are also focused on commercializing and enhancing our
patented pump to operate on wind and solar power," said Mr. Derek Begin,
President and CEO of Global Energy. "We expect very strong revenue growth in
the second half of 2008."
The information in this news release includes certain information and
statements about management's view of future events, expectations, plans and
prospects that constitute forward looking statements. These statements are
based upon assumptions that are subject to significant risks and
uncertainties. Because of these risks and uncertainties and as a result of a
variety of factors, the actual results, expectations, achievements or
performance may differ materially from those anticipated and indicated by
these forward looking statements. Although Global Energy Services Ltd.
believes that the expectations reflected in forward-looking statements are
reasonable, it can give no assurances that the expectations of any forward
looking statements will prove to be correct. Global Energy disclaims any
intention and assumes no obligation to update or revise any forward looking
statements to reflect actual results, whether as a result of new information,
future events, changes in assumptions, changes in factors affecting such
forward looking statements or otherwise.
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 their patented
Activator hydraulic submersible pump to enhance gas production in conventional
gas and coalbed methane wells. Global Energy's communications segment provides
a complete suite of integrated products and solutions specifically suited for
the oil and gas industry. Global Energy was founded in 1994 and is listed on
the TSX-V.
More information about Global Energy Services can be found at
http://www.global-energy.ca
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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