[ 9.August 2006 ]

Wellbore instrumentation experts Axon acquired

We are very pleased to announce the purchase of the Inverurie (Scotland) located company Axon Instruments AS, which is a company that has been developing and providing downhole electronic monitoring solutions since 1992. The knowledge and technology in Axon forms the basis for Ziebel’s needs with respect to downhole electrical and electronic tools and solutions to be developed.

The following is the press release issued today:

Ziebel AS acquires Axon Instruments Ltd. 9th August 2006

The Norwegian based wellbore technology company Ziebel AS announced today that they have completed the acquisition of Axon Instruments Ltd., a privately owned company based in Inverurie, Scotland.

Axon Instruments offers downhole instrumentation with an emphasis on condition monitoring for the artificial lift market to customers in North America, Latin America and the Asia/Pacific area. The company is developing innovative monitoring solutions aimed at optimizing production from wells under artificial lift and wells using intelligent well technology.

The purchase of Axon Instruments follows shortly after the acquisition of iCalTech Ltd. a company developing production logging systems using fibre optic sensors. Axon Instruments and iCalTech together will offer a range of downhole data monitoring and information systems.

Ziebel AS, with offices in Stavanger, Aberdeen and Houston was established in January 2006 and aims to grow through the acquisition of innovative small companies and the development of proprietary technologies. The company will focus on production optimization by offering products and services in the data monitoring, completions, artificial lift and wellbore intervention areas. Ziebel AS, supported by Energy Ventures AS has ambitious growth plans and is currently examining other suitable companies able to contribute to Ziebel’s intention of being a global, innovative production optimization company.

“Being part of the Ziebel group of companies is a significant step in our development. We have an exciting portfolio of new technologies under development and the support of Ziebel will allow us to accelerate the development and implementation of these products. The added investment in the company will allow us to develop our core business as well as add to the growth of the other Ziebel companies” said Dave Shanks, Managing Director and Founder of Axon Instruments.

Business Development Manager of Ziebel, Henning Hansen said: “Axon Instruments is a company I have known and followed since their establishment, and they have always impressed me by their dedication, innovative approaches and high quality products and solutions. Data monitoring, through permanent gauges, fibre optic systems and production logging is a core aspect of Ziebel’s plans. Axon has a wide and very valuable international network, and they will enable us to develop and install new generation monitoring technologies. They are a perfect fit for the other acquisitions we are working on.”

Further inquiries:

Ziebel AS:
Henning Hansen
+47 9079 9741
henning.hansen@ziebel.biz

Axon Instruments:

Dave Shanks
+44 1467 622332
david.shanks@ziebel.biz

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