Production Wireline and Cased Hole Services Group Joins the Geoservices Group

Acquisition – Thursday 2nd October, 2008

Production Wireline* and Cased Hole Services Group, LLC is pleased to announce its strategic alliance with the Geoservices** Group, a leader in oilfield services worldwide. Geoservices acquired Production Wireline on August 8, 2008. The PWL management team remains in place and continues to operate the Broussard, LA headquartered company.

Geoservices, who is currently world N°2 in well intervention and provides oilfield services in 53 countries around the globe, welcomes this agreement with Production Wireline who will serve as their entry into the U.S. well intervention market.

Geoservices, with Production Wireline, will focus on growth of its slickline-deployed services and technology, many of which are not currently available in this market. Both Production Wireline and Geoservices have as core values: Dedication to Customer, Care for People, Passion for Innovation, Excellence in Action and to be Connected with the Environment.

Production Wireline brings to Geoservices extensive experience and a solid reputation for slickline and related services in the Gulf of Mexico and the Gulf Coast region. This, coupled with Geoservices technologies, deepwater experience, and its capacity for sustainable growth, makes both companies very enthusiastic about this new venture.

Philippe Salle, Geoservices’ CEO, sees this acquisition as a starting point for the company’s ambitious plans for continued growth in the North American market.

(*) About Production Wireline

Production Wireline provides Slickline services to it clients throughout the Gulf of Mexico and Gulf Coast region from four bases across Texas and its main facility in Broussard, LA.

(**) About Geoservices

Geoservices provides a range of oil field services that help evaluate hydrocarbon reservoirs and optimize field exploration, development and production. It serves oil and gas companies worldwide through a network of bases in 53 countries, covering all the main areas where oil or gas is to be found. Its services include Mud Logging (world leader), Well Intervention (World N°2) and Field Surveillance.