Savanna Energy completes sale of business unit to Halliburton

    CALGARY, Jan. 31 /CNW/ - Savanna Energy Services Corp. ("Savanna")
(TSX: SVY) announced today the closing of the sale of Ultraline Services
Corporation ("Ultraline"), Savanna's cased hole wireline business unit, to the
Drilling and Formation Evaluation division of Halliburton's (NYSE:   HAL) Energy
Services Group ("Halliburton") for a purchase price of Cdn. $208 Million cash,
all conditions relating to such closing have been satisfied.

    Savanna Energy Services Corp. is a leading North American contract
drilling and oilfield services company providing a broad range of drilling,
well servicing and related services with a focus on fit for purpose
technologies for the North American market and industry leading aboriginal

    %SEDAR: 00019742E

For further information:

For further information: Ken Mullen, President and Chief Executive
Officer, Telephone: (403) 267-6726; Mark Altwasser, Vice-President, Corporate
Development, Telephone: (403) 214-5966

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Savanna Energy Services Corp.

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