Eagle Well Servicing and O'Chiese First Nation announce joint venture service rig construction

About this update from Information Services Corp. Class A

[{"type":"text","content":"\n\n\n\n\n\n/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN UNITED STATES OR TO ANY\n UNITED STATES NEWS SERVICES./\n\n\nCALGARY, March 21, 2013 /CNW/ - IROC Energy Services Corp., through its\n Eagle Well Servicing division (\"Eagle\"), is pleased to announce a joint\n venture with the O'Chiese First Nation (\"O'Chiese\"), whereby Eagle and\n O'Chiese will jointly construct and operate a mobile free-standing\n double service rig to be named O'Chiese Eagle Rig #1. Construction of O'Chiese Eagle Rig #1 is anticipated to be completed\n in June 2013, with the cost of construction to be funded equally by\n Eagle and O'Chiese.\n\n\nThe rig will be marketed to oil and natural gas exploration companies\n that operate wells on the O'Chiese lands, providing equipment and\n personnel for oil and gas well completions and maintenance.  This joint\n venture provides a commercial opportunity for the O'Chiese to\n participate in the development of natural resources on their lands as\n well as to provide new employment opportunities for the members of the\n O'Chiese First Nation.\n\n\nChief Darren Whitford, for the O'Chiese First Nation stated, \"We are\n excited to participate with Eagle in building a well servicing business\n on our lands which will provide opportunities for our people to work in\n the oil and natural gas industry and learn the service rig operation\n which the O'Chiese has a direct interest in. We believe the service rig\n joint venture with Eagle will allow us to begin to build a long-term\n sustainable business venture that makes our Nation proud.\"\n\n\nTom Alford, President and CEO of IROC said \"we are very pleased that the\n O'Chiese First Nation approached us to be a partner in this joint\n venture. We are confident that the joint service rig business will\n achieve the desired results and are committed to making this a\n successful venture for the O'Chiese people, oil and gas operators in\n the area and our shareholders.\"\n\n\nEagle currently operates one of the newest fleets of free-standing\n mobile Service Rigs, with a fleet of 52 rigs operating from bases\n across Western Canada.\n\n\nPublicly reported information for IROC Energy Services Corp. is\n available at www.sedar.com.\n\n\nCautionary Statement Regarding Forward Looking Information and\n Statements\n\n\nCertain information contained in this news rel...

More updates from Information Services Corp. Class A