Investors: 2006 Press Release Archive
HSE, Boots & Coots Renew Well Control Alliance
NEWS RELEASE – July 20, 2006
HSE Integrated Ltd. ("HSE" or the "Company") is pleased to announce to the Canadian petroleum industry that it has renewed an alliance agreement between Key Safety Services Inc. ("Key") and Boots & Coots International Well Control, Inc., of Houston, Texas. ("Boots & Coots"). Key was acquired by HSE January 9, 2006 and is now wholly-owned by HSE.
The alliance agreement was signed in late 2005. Boots & Coots offers a specialized risk management and well control insurance product to E&P companies in Canada called WELLSURE®. Through this service, Boots & Coots works with well control and petroleum industry insurance underwriters to review proposed drilling programs and certain producing operations to analyze their risk potential for a blowout or related emergency situations. WELLSURE® also provides clients with an engineer or well control specialist to act as an advisor in the event of an operational risk or pressure control situation.
Boots & Coots is recognized around the world as a leading provider of this highly specialized service. The company relies on local companies like Key for equipment or field personnel to support its WELLSURE activities. Key has been a leading supplier of well control and emergency response services to the Canadian petroleum industry since it was founded in 2000. The alliance between Key and Boots & Coots was signed and announced November 29, 2005.
When Key was acquired by HSE in January 2006, HSE was obligated to terminate the alliance with Boots & Coots because of a previous commitment with another well control services provider. When that commitment expired (see HSE News Release regarding Expansion of Services, June 23, 2006) HSE contacted Boots & Coots to renew the alliance. This was formalized in early July.
On July 13, 2006 HSE announced it had reassembled the original Key Well Control team consisting of Rob Graefer, Jarvis Jackson and Maurice Engman. This, combined with the renewed alliance with Boots & Coots, demonstrates HSE’s commitment to be an industry leader in this area along with other aspects of the oil industry safety services packages including firefighting, breathing air, worker decontamination, on-site medical, air quality monitoring and industry safety training.
HSE is an integrated supplier of industrial Health, Safety and Environmental services. From its head office in Calgary, Alberta, it serves its clients from field service locations in Alberta, British Columbia, Ontario, Nova Scotia and Michigan. HSE trades on the TSX Venture Exchange under the symbol "HSL."
Based in Houston, Texas, Boots & Coots is an internationally recognized leader in the provision of well pressure control services. The company provides a suite of integrated oilfield services centered on the prevention, emergency response and restoration of blowouts and well fires as well as hydraulic workover/snubbing and hot tapping services, Boots & Coots trades on the American Stock Exchange under the symbol "WEL".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
David Yager, Chairman & CEO
Telephone: (403) 266-1833
E-Mail: