Koil Energy Solutions Inc. (KLNG)

[MossyOak]

SCHLUMBERGER BOSS SEES STRONG POSITIVE TRENDS FOR ENERGY SECTOR 08:50 - 19 January 2008

Schlumberger says the explosion in exploration licences awarded in the past three years, the continual expansion of the number of new offshore rigs being ordered, and industry-wide plans to increase both capital expenditure and research and development spending are clear indicators of future growth.

Chief executive Andrew Gould said yesterday: "It is our view that only a global economic recession that lowers demand can flatten this trend."

Schlumberger, the world's largest oilfield service company reported 2007 revenue of £11.8billion yesterday compared with £9.76billion the year before.

The company, which has a substantial presence in Aberdeen and the North Sea, said net income, excluding charges and credits, reached £2.62billion against £1.88billion 12 months earlier.

Mr Gould said: "Schlumberger revenues in 2007 grew by 21%, driven by strong demand for oilfield services. All technologies showed double-digit improvement, with drilling and measurements, well testing and integrated project management recording the highest overall growth rates."

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