Trican Well Service Ltd. (TSX:TCW) ("Trican") and GeoTomo LLC ("GeoTomo") are pleased to announce that they have formed Trican GeoTomo Microseismic Ltd. ("TGML"). TGML provides microseismic services to oil and gas producers by integrating Trican's extensive experience in hydraulic fracturing engineering and GeoTomo's unique geophysical software capabilities.

TGML takes fracture mapping to a level that we believe is currently unavailable in the marketplace, offering the acquisition, processing, visualization and interpretation of microseismic data during hydraulic fracturing operations. This offering is the result of a new software package called MiVu(TM), which is capable of performing microseismic model building, survey optimization, data processing, event imaging, quality control, and visualization with advanced geophysical technologies and high-performance commercial software graphics utilities.

TGML will use MiVu's full 3-Dimensional (3D) capabilities with 3D visualization tools referencing surface seismic, borehole data, 3D velocity modelling, 3D tomographic inversion, 3D structures and faults, which are integrated with Trican's extensive fracturing and reservoir knowledge and experience with the goal of optimizing fracture design.

MiVu is expected to enable users to locate microseismic events generated by a fracture treatment using up to five (5) different techniques. TGML leverages the MiVu advancements in geophysical software and Trican's notable depth of experience in geological and pressure pumping services to offer customized solutions that are expected to match the uniqueness of a given well. We believe these customized solutions should provide a highly accurate view of a customer's fracture network which should assist the producer in determining optimal fracture performance with the expectation that production from future wells in the reservoir should improve. The integration of one or several of MiVu's processing capabilities with fracture models, as well as the analysis of experienced geophysicists, geologists, and fracturing and reservoir experts, should result in customers receiving an unparalleled interpretation of their reservoir and should optimize the completion of the reservoir.

TGML is ready to begin working with customers to offer MiVu's advanced subsurface view and analysis of their reservoirs, and expects to deliver results beyond current expectations.

Headquartered in Calgary, Alberta, Trican has operations in Canada, the United States, Russia, Kazakhstan, Australia and Norway. Trican provides a comprehensive array of specialized products, equipment and services that are used during the exploration and development of oil and gas reserves.

GeoTomo develops high-end geophysical software products that help geophysicists around the world to image beneath the subsurface. Oil and gas companies use GeoTomo's software solutions to significantly reduce the risk and cost of finding and producing hydrocarbons. GeoTomo has offices in Houston, Texas, Beijing, China.

FORWARD-LOOKING INFORMATION

This document contains information that constitutes forward-looking information within the meaning of applicable securities legislation. This forward-looking information is identified by the use of terms and phrases such as "anticipate," "achieve", "achievable," "believe," "estimate," "expect," "intend", "plan", "planned", and other similar terms and phrases. This information speaks only as of the date of this document and we do not undertake to publicly update the forward-looking information contained in this document except in accordance with applicable securities laws. This forward-looking information includes:


--  TGML takes fracture mapping to a level that we believe is currently
    unavailable in the marketplace;  
--  MiVu(TM) is capable of performing microseismic model building, survey
    optimization, data processing, event imaging, quality control, and
    visualization with advanced geophysical technologies and high-
    performance commercial software graphics utilities; 
--  The goal of optimizing fracture design 
--  MiVu is expected to enable users to locate microseismic events generated
    by a fracture treatment using up to five (5) different techniques; 
--  TGML leverages the MiVu advancements in geophysical software and
    Trican's notable depth of experience in geological and pressure pumping
    services to offer customized solutions that are expected to match the
    uniqueness of a given well; 
--  The belief that these customized solutions should provide a highly
    accurate view of a customer's fracture network which should assist the
    producer in determining optimal fracture performance with the
    expectation that production from future wells in the reservoir should
    improve; 
--  The integration of one or several of MiVu's processing capabilities with
    fracture models, as well as the analysis of experienced geophysicists,
    geologists, and fracturing and reservoir experts, should result in
    customers receiving an unparalleled interpretation of their reservoir
    and should optimize the completion of the reservoir; and 
--  TGML is ready to begin working with customers to offer MiVu's advanced
    subsurface view and analysis of their reservoirs, and expects to deliver
    results beyond current expectations.

Forward-looking information is based on current expectations, estimates, projections and assumptions, which we believe are reasonable but which may prove to be incorrect and therefore such forward-looking information should not be unduly relied upon. In addition to other factors and assumptions which may be identified in this document, assumptions have been made regarding, among other things: industry activity; the general stability of the economic and political environment; effect of market conditions on demand for the Company's products and services; the ability to obtain qualified staff, equipment and services in a timely and cost efficient manner; the ability to operate its business in a safe, efficient and effective manner; the performance and characteristics of various business segments; the effect of current plans; the timing and costs of capital expenditures; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which the Company operates; and the ability of the Company to successfully market its products and services.

Forward-looking information is subject to a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: customers' completion of expected work programs; fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; the successful exploitation and integration of technology; customer acceptance of technology; success in obtaining issued patents; the potential development of competing technologies by market competitors; and availability of products, qualified personnel, manufacturing capacity and raw materials, and TGML's successful performance under contracts. In addition, actual results could differ materially from those anticipated in the forward-looking information provided herein as a result of the risk factors set forth under the section entitled "Risk Factors" in Trican's Annual Information Form dated March 21, 2013.

Contacts: Trican GeoTomo Microseismic Ltd. David Dushman Trican Manager, Microseismicmicroseismic@trican.ca Trican GeoTomo Microseismic Ltd. James C. Jackson President, GeoTomo LLCjames.jackson@geotomo.com www.geotomo.com Trican Well Service Ltd. Dale Dusterhoft Chief Executive Officerddusterhoft@trican.ca Trican Well Service Ltd. Michael Baldwin Vice President, Finance & CFOmbaldwin@trican.ca Trican Well Service Ltd. Gary Summach Director of Reporting and Investor Relationsgsummach@trican.ca Trican Well Service Ltd. 2900, 645 - 7th Avenue S.W. Calgary, Alberta T2P 4G8 (403) 266-0202 (403) 237-7716 (FAX) www.trican.ca

Trican Well Service (TSX:TCW)
Historical Stock Chart
From Jul 2024 to Aug 2024 Click Here for more Trican Well Service Charts.
Trican Well Service (TSX:TCW)
Historical Stock Chart
From Aug 2023 to Aug 2024 Click Here for more Trican Well Service Charts.