Production Enhancement Group announces termination of Mexican joint venture

    HOUSTON, June 25 /CNW/ - Production Enhancement Group, Inc. ("PEG" or the
"Company") (TSX: WIS) today announced that PEG and Grupo Creatica, S.A. de
C.V., a Mexican company, have agreed to allow their joint venture agreement,
announced on April 19, 2007, to expire of its own terms. The purpose of the
joint venture was to deploy PEG's patented WISE(TM) multifunction coil tubing
well intervention systems in Mexico.
    Philip C. Crawford, PEG's Chief Executive Officer said "The parties were
unable to finally agree upon the best approach to the marketplace within the
time period set by the joint venture agreement, and mutually determined to
allow the joint venture agreement to expire without consequences to either
party. We continue to believe that PEG's WISE well intervention systems can
play a key role as Mexico focuses on restoring production from mature fields,
and are actively exploring alternative avenues to penetrate the Mexican

    About Production Enhancement Group

    Production Enhancement Group, a Houston-based energy services company
incorporated in Alberta, Canada, trades on the TSX under the symbol WIS. PEG's
wholly owned subsidiary, WISE Well Intervention Services, Inc., has developed
patented WISE(TM) multifunction coiled tubing technologies and markets a full
range of coiled tubing and pressure pumping services.

    WISE is a trademark of Production Enhancement Group, Inc.


    The TSX does not accept responsibility for the adequacy or accuracy of
this release.

    This release and PEG's website referenced in this release may contain
forward-looking statements, including expectations of future components of
cash flow and earnings. Investors are cautioned that assumptions used in the
preparation of such information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of PEG. These risks
include, but are not limited to the risks associated with the oil and gas
industry, commodity prices, and exchange rate changes. Industry related risks
could include, but are not limited to operational risks in exploration,
development, and production, delays or changes in plans, and health and safety
risks, including, without limitation, costs and expenses. The risks outlined
above should not be construed as exhaustive. Investors are cautioned not to
place undue reliance on any forward-looking information. PEG undertakes no
obligation to update or revise any forward-looking statements.

    %SEDAR: 00023366E

For further information:

For further information: visit or contact:
Chester J. Jachimiec, EVP, Finance & Acquisitions, Production Enhancement
Group, Inc., (281) 282-1812,; Ken
Wetherell, Investor Relations, Bryan Mills Iradesso, (403) 503-0144 x224,

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