Triton American Well Service Completes Acquisition of Instar Field Services, Inc.; Instar Year-Over-Year Revenue to Double Based
12 Septembre 2006 - 7:00PM
Business Wire
Triton American Energy Corp. (OTC PK: TRAE), provider of natural
gas and crude oil, is pleased to report its wholly owned subsidiary
Triton American Well Service, LLC (TAWS) has completed the
acquisition of Instar Field Services, Inc. Instar FieldServices is
an oil and gas maintenance company which gauges and pumps wells to
determine the rate of outflow and ensure continued operation.
Currently, Instar is experiencing a high rate of demand to provide
services for energy companies. Management anticipates Instars
year-over-year revenue growth to double due to TAW's client base
and Triton Austin Chaulks steady flow of wells which are being
acquired and in need of maintenance. TAWS acquisition includes
Instars assets which are all trucks, back-hoes as well as a wide
compliment of other equipment necessary for TAWS' turn-key twelve
well project which is underway on the Blackwell Lease in the
Luling-Branyon Field. TAWS now owns a work-over rig, radial jet
drilling unit and all of the related field assets to efficiently
complete the pilot program, which is now proceeding. TAWS is also
in the process of acquiring an additional work over rig. For more
information, please contact Investor Relations at (973) 351-3868
for Stephen Taylor or visit our website at:
www.tritonamericanenergycorp.com About Triton American Energy
Corporation: Triton American Energy is an independent crude oil and
natural gas and oil exploration and production company based in
Houston, Texas. The company's business plan is structured to take
advantage of todays rising energy cost, while reducing as much
financial risk as possible. Tritons niche or specialty are the
small to moderate operations (usually 1-50 well projects). These
wells can be worth hundreds of millions of dollars in revenue but
require more hands-on attention then the major producers are
willing to give. Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: Except for historical information,
the forward looking matters discussed in this news release are
subject to certain risks and uncertainties which could cause the
Company's actual results and financial condition to differ
materially from those anticipated by the forward-looking statements
including, but not limited to, the Company's liquidity and the
ability to obtain financing, the timing of regulatory approvals,
uncertainties related to corporate partners or third-parties,
product liability, the dependence on third parties for
manufacturing and marketing, patent risk, copyright risk,
competition, and the early stage of products being marketed or
under development, as well as other risks indicated from time to
time in the Company's filings with the Securities and Exchange
Commission.
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