/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN UNITED STATES OR TO ANY
UNITED STATES NEWS SERVICES/
CALGARY, Oct. 30 /CNW/ - IROC Energy Services Corp. ("IROC" or the
"Corporation") (TSX: "ISC") announced that it has completed the sale of the
fourth and final drilling rig and related assets to Saxon Energy Services Inc.
("Saxon") pursuant to the previously announced transaction to dispose of
IROC's Mission Drilling division assets to Saxon. On the closing of the sale
of the fourth drilling rig the Corporation received $8.1 million cash,
combined with the $25.6 million received September 25th, 2008 for an aggregate
purchase price for the Mission Drilling assets of $33.7 million.
About IROC Energy Services Corp.
IROC Energy Services Corp. is an Alberta oilfield services company that,
through the IROC Energy Services Partnership, provides a comprehensive and
diverse range of products, services and equipment to the oil and gas industry.
IROC combines cutting-edge technology with depth of experience to deliver a
product and services offering in five core areas: well servicing & equipment,
downhole temperature & pressure monitoring tools, rental services, lease
building, and safety, monitoring & communications services. For more
information on IROC Energy Services Corp. visit our website at
Publicly reported information for IROC Energy Services Corp. is available
Certain statements contained in this press release may constitute forward
looking statements concerning, among other things, expected revenues, expected
expenses, profits, developments and strategies for IROC's operations all of
which are subject to certain risks, uncertainties and assumptions. These
forward looking statements are identified by their use of terms and phrases
such as "anticipate", "continue", "estimate", "expect", "may", "will",
"projected", "should", "believe" and other similar terms and phrases. By its
nature, such forward looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward looking statements.
These risks include, but are not limited, to the risks associated with the oil
and gas industry generally, fluctuating prices in crude oil and natural gas,
changes in drilling activity, general global economic, political and business
conditions, weather conditions, regulatory changes and availability of
products, qualified personnel and manufacturing capacity and raw materials. If
any of these uncertainties materialize, or if assumptions are incorrect actual
results may vary materially from those expected. IROC relies on litigation
protection for any forward looking statements.
This press release is not for dissemination in United States or to any
United States news services. The Common Shares of IROC have not and will not
be registered on the United States Securities Act of 1933, as amended (the
"United States Securities Act") or any state securities laws are not offered
or sold in the United States or to any US person except in certain
transactions exempt from the registration requirements of the United States
Securities Act and applicable state securities laws.
For further information:
For further information: IROC Energy Services Corp., Mr. Thomas M.
Alford, President and CEO or Mr. Kevin Howell, CFO, Telephone: (403) 263-1110,