Lexington Energy Services Inc. (OTCBB: LXES)
Lexington Poised to Increase its Share of the Lucrative Well-testing Market
CALGARY, Feb. 8 /PRNewswire-FirstCall/ – Lexington Energy Services Inc. (LXES.OB) is pleased to announce that on February 7, 2007, it has signed a non-binding letter of intent to acquire the assets of privately held Southern Well Testing Ltd. and Southern Well Testing (2005) Ltd., of Brooks, Alberta.
Lexington intends to acquire all of the assets of Southern Well Testing, including Southern Well’s eight completely mobile P-tank test units and one high stage combination test vessel. In addition, Lexington will also secure the rights to continue providing mobile testing services to all of Southern Well’s existing customers.
“We are extremely excited about this acquisition,” says Larry Kristof, President and CEO of Lexington Energy, “We continuously seek opportunities to enhance shareholder and customer value and this acquisition will mean a strategic and substantial expansion of Lexington’s assets, business and customer base.”
Southern Well Testing Ltd. and Southern Well Testing (2005) Ltd., both privately held companies, are managed and partly owned by Brent Nimeck, who is also Lexington Energy’s Chief Operating Officer. The letter of intent, outlines the terms and conditions under which Lexington Energy will negotiate to acquire the assets of Southern Well.
Based in Calgary, Lexington Energy Services Inc. is a publicly traded company manufacturing innovatively designed service equipment for the rapidly expanding oil and gas industry.
CONTACT: Mark Procknow, Corporate Communications, Lexington Energy Services Inc., Calgary, AB, (403) 279-4585
Source: Lexington Energy Services Inc.
View the StockGuru Profile for Lexington Energy Services:
http://www.stockguru.com/profiles/lxes/
We Invite you to Visit the All New StockGuru Blog!
Here you will find updates on all our covered companies, including Profiled Companies and StockGuru Picks.
Click HERE to visit the Blog, or go to:
http://stockguru.com/blog/
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (469) 252-3030. Web: StockGuru.com. Email: Publisher@stockguru.com. Disclosure: Pentony Enterprises LLC has been compensated $48,000 and expects to be approximately 130,000 freetrading shares and $32,000 by noncontrolling third party World Alliance Limited. Pentony Enterprises is not a registered investment advisers or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. It is the policy of Pentony Enterprises LLC to sell all shares of this and any company featured. Anyone considering any company we feature in consideration for free trading shares should consider this.