Axis Energy Services Purchased by Precision Drilling Corporation

CALGARY, Sept. 12, 2011 /CNW/ - Axis Energy Services Holding Inc. ("Axis") announced today its sale to Precision Drilling Corporation ("Precision").  Axis provides directional drilling and MWD services, primarily in Western Canada.  Axis was formed in 2006 and has approximately 70 employees.

"The sale to Precision is an important step in our strategy to grow Axis' directional drilling services in Western Canada with Precision's high performance, high value drilling rigs," said Sheldon Marcotte, President of Axis Energy Services."

Murray Rothlander, CEO of Axis Energy Services added, "We believe we have the highest quality directional drilling and MWD employees in Western Canada and are very excited to become part of the Precision family."

In connection with the sale, AltaCorp Capital Inc. acted as the exclusive financial advisor to Axis Energy Services.

About Axis Energy Services Holding Inc.

Founded in 2006, Axis has assembled a company composed of directional drilling specialists which includes; highly experienced in-house operational support, advanced well planning, selected field supervision and industry-leading directional equipment. Axis specializes in a range of drilling solutions - from straight hole performance drilling to fully crewed extended-reach horizontal drilling.

Axis Energy Services has established a great reputation for reliability, performance, and excellent service with numerous oil and gas companies in Western Canada and the U.S. Our customers have come to rely on Axis to consistently steer their wells to target in the most economical and efficient manner, regardless of down-hole environment. For more information please visit www.axisenergyservices.com.

About AltaCorp Capital Inc.

AltaCorp Capital Inc. is Canada's newest institutional financial advisory firm. AltaCorp offers a full spectrum of value-added financial and advisory services to corporations in varied stages of development, including Corporate Mergers & Acquisitions; Equity Financing; Asset Acquisitions & Divestitures; Institutional Sales & Trading; and Institutional Equity Research. AltaCorp is in a strategic relationship with ATB Financial (ATB), a full-service financial institution headquartered in Edmonton, Alberta. ATB is the largest Alberta-based financial institution, with assets over $26.5 billion and 5,000 Associates across the province. AltaCorp focuses on the key drivers of the Western Canadian economy and the overlapping subsectors of Energy, Agri-Industry, and Diversified Industries. Together, AltaCorp and ATB Financial provide clients full service solutions for all their corporate finance and advisory needs. AltaCorp Capital Inc. is a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. For more information, visit www.altacorpcapital.com.

SOURCE AltaCorp Capital Inc.

For further information:

Shauna MacDonald
Brookline Public Relations
403-538-5645
Email smacdonald@brooklinepr.com


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