UNDERBALANCED EQUIPMENT SOLD TO CUBA
October 1, 1998
Internet: www.techcorp-industries.com
Email: info@techcorp-industries.com
Mr. Arnold Wong, President, today announced that Techcorp Industries Inc. has sold one RPM System 3000TM Rotating Blowout Preventer system and associated spare parts for $480,000 CDN. The system was sold to an oil company which plans on using this equipment for an underbalanced drilling project in Cuba. Techcorp expects to ship the equipment within one week.
The RPM System 3000TM is the most compact Rotating Blowout Preventer system allowing high pressure operation to 3,000 p.s.i. available, and provides significant operational and safety advantages over conventional rotating control heads and other rotating blowout preventer systems. The design of Techcorp's Rotating Blowout Preventer systems allows oil and gas companies to substantially decrease the present costs of services.
To date seven RPM System 3000TM systems have been sold. Given the recent inquiries and requests for quotations, management is optimistic that further sales will be completed before the end of the year.
Techcorp Industries Inc. is a research and development company involved in the design and manufacture of proprietary products for the energy sector. As an original equipment manufacturer (OEM), Techcorp is actively involved in the sale and rental of this equipment through authorized agents. Techcorp also pursues transfer of technology agreements and the licensing of their design files. In addition to its three models of Rotating Blowout Preventers, Techcorp currently offers the following products:
Electronic Gauge Carrier System: One of the world's smallest, lightest and most versatile electronic gauge carrier. Providing multi-service capabilities, the Gauge Carrier incorporates two miniature electronic pressure and temperature memory gauges that can monitor either tubing or annulus pressures. Current applications include open and cased hole drill stem testing, underbalanced drilling operations, and cased hole tubing conveyed perforating (TCP) operations for well completions.
Underbalanced Drilling Deployment Valve (UBD ValveTM): Relieves the well operator of having to snub in and out of the well, thereby reducing rig time and providing improved personnel safety; and allowing surface equipment to be isolated in the event of a problem. Arrangements have been made domestically and internationally with customers to use the UBD ValveTM during underbalanced drilling and completions programs.
External Casing Packers (ECP): Used in both conventional and underbalanced completion programs for zonal isolation and casing annulus segregation, complete with electronic downhole data acquisition systems to record inflation pressure between the inflation cups to ensure full and complete inflation has been achieved. Engineering of the ECP product line is complete, and a production run is currently taking place on 5 ½” and 7” elements.
“The Alberta Stock Exchange has neither approved or disapproved of this information.”
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