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Monday, April 30, 2007 6:51:23 AM
There is virtually no historical precedent for the ongoing surge in demand for oil field services and equipment. Virtually every product and service
line in every geographic market is sold out, as the growing number of (job turndowns) amply demonstrates. Oil service and drilling companies
keep track of these job turndowns, which are simply work opportunities that they can not accept due to a lack of equipment and/or
personnel. The job turndowns added up to hundreds of millions of dollars in the first quarter of 2006.
Source: Rob Black First Quarter Oil Market Recap, May 3, 2006
Well Renewal, Inc. intends to expand their scope of operations in regards to their oil field servicing operations. This will be accomplished via
mergers and acquisitions as well as investing further capital into already existing operations. 2007 will play a pivotal role for Well Renewal,
Inc.’s servicing division in respect to the ever increasing demand for oil field services in our targeted markets.
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