Winalta Announces Agreement with Nabors Drilling

CALGARY, Jan. 20 /CNW/ - Winalta Inc. ("Winalta" or the "Company") is pleased to announce that it has signed an agreement with Nabors Drilling, a division of Nabors Canada ("Nabors") to begin marketing and operating all Nabors' non-contracted drilling camps. The three year agreement became effective January 19, 2011 and includes an option to renew for an additional three years to be mutually agreed on by both parties.  

As part of the agreement, Winalta will provide camp marketing, contract negotiation, billing, logistic and operational support, setup, and mobilization and demobilization for Nabors' camps. Winalta and Nabors will share in the camp rental profit generated from the drilling camps as Winalta is successful in putting those camps to work.  

With a current fleet of 10 drilling camps, Winalta was unable to meet demand for drilling camps from its existing customers, for the 2010/11 winter drilling season. This agreement allows Winalta to meet the growing demand for drilling camps by its current customers and gives the Company an opportunity to expand its customer base. 

"We are fully utilized for both Wellsites and camps this drilling season, with a substantial amount of third party rental equipment secured to meet current needs. We see this strategic agreement as an ideal way to meet the demand we are experiencing for this summer and next drilling season. We are proud to do business with a company as reputable as Nabors and we see this as a truly mutually beneficial arrangement," commented Artie T. Kos, Winalta Inc. President and CEO.    

Winalta Inc., operating under the trade name, Winalta Oilfield Rentals, is an oilfield service provider that specializes in portable industrial rental accommodations, remote offices and Dedicated Geo Labs; servicing the Western Canadian Oil and Gas Industry.  

Nabors Industries Ltd. and its subsidiaries, including Nabors Canada, comprise the world's largest provider of land and platform drilling contract services.  

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Forward-looking information

Certain information set forth in this press release, including management's assessment of the benefits of the agreement with Nabors Drilling and future demand for Wellsite and camps in subsequent drilling seasons, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which, including market conditions, are beyond our control. Readers are cautioned not to place undue reliance on the forward-looking statements as the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and actual results, performance or outcomes could materially differ from those expressed or implied in such forward-looking statements and accordingly, no assurance can be given that any of the events anticipated by forward-looking statements will transpire or occur, or if any of them do so, what benefit Winalta will derive there from. The Corporation does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.  

SOURCE Winalta Inc.

For further information:

Austin Fraser, Senior Vice President
Phone: (780) 960-6900  

Ron Ford, Vice President
Phone: (780) 960-6900

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Winalta Inc.

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