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RBCHY7on Oct 12, 2011 11:21am
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News - Agreement with Industry Leader
News - Agreement with Industry LeaderEstrella Signs Agreement with Scientific Drilling International
BUENOS AIRES, ARGENTINA--(Marketwire - Oct. 11, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Estrella International Energy Services Ltd. ("Estrella") (TSX VENTURE:EEN)
is pleased to announce that it has entered into an agreement with Scientific
Drilling International, Inc. (SDI) to be the sole provider of SDI's advanced
Measurement While Drilling (MWD), Logging While Drilling (LWD) and Gyro
surveying technology in South America. The agreement is effective as of
today's date.
SDI is a Houston-based independent provider of Directional Drilling and
Wellbore Navigation Technologies using proprietary systems utilizing
advanced measurement technology, and is the largest independent global
supplier of this technology.
Through this exclusive relationship SDI will provide all surveying and
logging technology while Estrella will be the exclusive operating arm in
South America taking care of field operations, marketing, logistics and
maintenance. As new technologies are introduced by SDI these will be added
to the Estrella service offerings. Under this agreement, SDI will maintain
ownership of the equipment and will assist Estrella in their maintenance and
quality programs.
Warren Levy, Chairman & CEO of Estrella commented: "This venture will
provide Estrella the opportunity to grow our directional business with the
support of the largest and most well respected independent supplier of this
technology in Scientific Drilling International. SDI technology and service
quality are respected around the world, and we are very pleased to have been
chosen as their partner for South America. The availability of quality off
the shelf MWD and Gyro tools is extremely limited, and access to SDI's
technology will be a key differentiating factor for us moving forward. Of
particular note, is the synergy that we can bring in the geothermal sector,
where Estrella enjoys a strong market presence, and where SDI has long been
the global market leader."