/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
CALGARY, Jan. 9 /CNW/ - Cathedral Energy Services Income Trust (the "Trust" - TSX: CET.UN) is pleased to announce the commercial success of its Remote Drilling System ("RDS") which has been in testing since October 2007. This innovative system is presently being used in the under-balanced/horizontal drilling environment and has been well received by our customers. RDS allows the secure transmission of drilling data from the rig site to the Trust's Calgary operations centre, which permits the full experience of measurement-while-drilling ("MWD") supervisors and directional coordinators to manage directional drilling activities in real time from a central location. This system allows the Trust to reduce the number of field personnel required on a job, thereby reducing the costs to both the Trust and its clients. RDS is being utilized on 10-15% of the Trust's present Canadian directional drilling work. Currently we are expanding the capabilities of RDS in our Canadian operations and plans are being put in place to expand the use of RDS into the U.S. market.
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Certain statements in this news release including (i) statements that may contain words such as "anticipate", "could", "expect", "seek", "may" "intend", "will", "believe", "should", "project", "forecast", "plan" and similar expressions, including the negatives thereof, (ii) statements that are based on current expectations and estimates about the markets in which the Trust/Cathedral operates and (iii) statements of belief, intentions and expectations about developments, results and events that will or may occur in the future, constitute "forward-looking statements" and are based on certain assumptions and analysis made by the Trust/Cathedral. Forward-looking statements in this news release include, but are not limited to, statements with respect to future capital expenditures, including the amount, nature and timing thereof; oil and natural gas prices and demand; other development trends within the oil and natural gas industry; business strategy; expansion and growth of the Trust's/Cathedral's business and operations and other such matters. Such forward-looking statements are subject to important risks and uncertainties, which are difficult to predict and that may affect the Trust's/Cathedral's operations, including, but are not limited to: the impact of general economic conditions; industry conditions; government and regulatory developments; oil and natural gas product supply and demand; competition; and the Trust's/Cathedral's ability to attract and retain qualified personnel. The Trust's/Cathedral's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do transpire or occur, what benefits the Trust/Cathedral will derive therefrom. Subject to applicable law, the Trust disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
All forward-looking statements contained in this document are expressly qualified by this cautionary statement. Further information about the factors affecting forward-looking statements is available in the Trust's current Annual Information Form and Annual Report which have been filed with Canadian provincial securities commissions and are available on www.sedar.com.
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