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CALGARY, ALBERTA--(Marketwire - Aug. 24, 2012) - New West Energy Services Inc. (TSX VENTURE:NWE) (the "Corporation") is pleased to announce that it has completed its previously announced transaction (the "Acquisition") with Porterco Welding Ltd. ("Porterco"). In connection with the Acquisition, the Corporation acquired the operating assets of Porterco, which assets include all equipment used in the hauling and handling of drilling waste solids, rental equipment, vehicles, inventory and customer lists. In addition, the Corporation has retained approximately 9 employees employed in the drilling waste business. The acquired drilling waste business will operate under the name Porterco Oilfield Services Inc. ("Porterco Oilfield"), a wholly-owned subsidiary of the Corporation. Mr. Cory Porter, founding principal of Porterco, has been appointed General Manager of Porterco Oilfield. |
