Pason Systems Chairman to Monetize a Portion of Shares

CALGARY, Nov. 30, 2011 /CNW/ - Pason Systems Inc. (TSX:PSI) announced today that Mr. James D Hill, Chairman of the Board, has entered into a transaction to monetize a total of 1.5 million PSI shares. This transaction, which involves forward contracts was entered into with a Canadian chartered bank. Pursuant to this financial instrument, the beneficial ownership, voting rights and dividends associated with the shares will remain with Mr Hill's holding company. The current monetization transaction will fund the unwinding of a monetization transaction on 1.316 million shares entered into in 2009 and avoid the settlement of the transaction with the sale of the underlying shares.

"This personal transaction and the vehicle utilized ensures both the continuity and stability of our operations for the benefit of Pason clients and shareholders, and long-term family estate planning", said James D Hill, Chairman of the Board.

The amount of shares monetized under this transaction, represent 9.3% of the total shares owned directly, or indirectly, by Mr Hill, and less than 2% of the total share capital of Pason Systems.

Pason Systems Inc. provides rental oilfield instrumentation that are designed and manufactured for use on land-based drilling and service rigs for the oil and gas industry.

Certain information regarding the Company contained herein may constitute forward-looking information under applicable securities law.  The words "anticipate", "expect", "believe", "may", "should", "will", "estimate", "project", "outlook", "forecast" or other similar words are used to identify such forward-looking information and statements.  Forward-looking statements in this document may include statements, express or implied regarding the anticipated business prospects and financial performance of Pason; expectations or projections about future strategies and goals for growth and expansion; expected and future cash flows and revenues; and expected impact of future commitments.  These forward-looking statements are based upon various underlying factors and assumptions, including the state of the economy and the oil and gas exploration and production business, in particular; the Company's business prospects and opportunities; and estimates of the financial and operational performance of Pason.

Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements.  Risk factors that could cause actual results or events to differ materially from current expectations include, among others, the ability of Pason to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the operating performance of Pason's assets and businesses, the price of energy commodities, competitive factors in the energy industry, changes in laws and regulations affecting Pason's businesses, technological developments, and general economic conditions.

Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur.  Such forward looking statements, although considered reasonable by management as of the date hereof, may prove to be incorrect and actual results may differ materially from those anticipated.  Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Additional information on risks and uncertainties and other factors that could affect Pason's operations or financial results are included in Pason's reports on file with the Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or through Pason's website (www.pason.com).  Furthermore, any forward looking statements contained in this news release are made as of the date of this news release, and Pason does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

SOURCE Pason Systems Inc.

For further information:

about Pason Systems Inc., visit the company's website at www.pason.com or contact:

Marcel Kessler 
President and CEO
403-301-3400
marcel.kessler@pason.com
                     David Elliott 
Chief Financial Officer
403-301-3441
david.elliott@pason.com


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