HOUSTON, Oct. 1 /CNW/ - Production Enhancement Group, Inc. ("PEG" or the
"Company") (TSX: WIS) today announced the appointment of Don B. Cobb as
President and Chief Operating Officer of WISE Well Intervention Services, Inc.
("WISE"), PEG's operating subsidiary. Mr. Cobb's responsibilities will include
directing and administering the operating divisions of WISE (Coiled Tubing,
Nitrogen, Pressure Pumping and Wireline Services) and assisting PEG's
President and CEO in the development and execution of corporate strategies and
Mr. Cobb has domestic and international oil and gas services experience
spanning 33 years. Most recently he was Executive Vice President of Boots and
Coots Services in charge of all international operations including South
America, Africa, the Middle East and Central Asia. He also spent 22 years with
Baker Hughes Incorporated in various capacities in well intervention services
with annual revenue responsibilities ranging from US$20 million to
Jaime Crawford will remain as President of PEG and Mr. Cobb will report
"The appointment of Don Cobb as President of WISE is a very exciting
development for the Company," said Jaime Crawford. "His extensive experience
in directing the international operations of some of the household names in
oil services will have a significant impact on PEG as we continue to grow our
operations in North America and overseas."
About Production Enhancement Group, Inc.
Production Enhancement Group, Inc., a Houston-based energy services
company incorporated in Alberta, Canada, trades on the TSX under the symbol
WIS. PEG's wholly owned subsidiary, WISE (R) Well Intervention Services, Inc.,
has developed patented WISE(R) multifunction coiled tubing technologies and
markets a full range of coiled tubing, pressure pumping and wireline services.
WISE(R) is a trademark of Production Enhancement Group, Inc.
The TSX does not accept responsibility for the adequacy or accuracy of
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.
For further information:
For further information: www.productionenhancement.com or contact:
Douglas Parker, Chief Financial Officer, Production Enhancement Group, Inc.,
(281) 282-1851, firstname.lastname@example.org; Ken Wetherell, Investor
Relations, Bryan Mills Iradesso, (403) 503-0144 x224, email@example.com