Petrowest Energy Services Trust announces sale of rig mobilization and demoblization assets

    CALGARY, May 14 /CNW/ - Petrowest Energy Services Trust ("Petrowest")
(TSX - "PRW.UN") announced today that it has completed the sale of the under
performing rig mobilization and demobilization assets of the Transportation
segment for cash proceeds of $10 million. As this is an asset transaction,
Petrowest will retain all of the accounts receivable and accounts payable,
estimated at approximately $0.8 million of positive working capital.
    Proceeds from the sale will be utilized to reduce revolving bank debt and
allow management to focus available resources on more profitable segments of
    The Purchaser is a corporation that is controlled by an individual who
holds more than 10% of the outstanding trust units of Petrowest, based on
public filings.

For further information:

For further information: Ralph Hesje, President and Chief Executive
Officer, or Lloyd A. Wiggins, Chief Financial Officer, at (403) 237-0881

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