Paintearth Purchases All Shares of Absolute Oil Tools

May 24, 2007

Paintearth Energy Services is pleased to announce that we have purchased all the shares of Absolute Oil Tools. This transaction fits with our strategy to grow our business through selective acquisitions of strong, well performing businesses, such as Absolute. Absolute sells a complementary line of subsurface products that will fit well with our existing Subsurface Products businesses in both Canada and the United States.

Paul Aldridge will remain as General Manager of Absolute while we properly integrate the two businesses. Paul will concentrate on offering the same great service and support to his customers as they have come to expect.

Paintearth is excited about the opportunities available because of this transaction.

Welcome aboard to Paul and his team!