Trican Closes Acquisition of i-TEC Well Solutions and Expands Into the Completion Systems and Downhole Tools Market

Trican Closes Acquisition of i-TEC Well Solutions and Expands Into the 
Completion Systems and Downhole Tools Market 
CALGARY, ALBERTA -- (Marketwire) -- 01/28/13 -- Trican Well Service
Ltd. (TSX:TCW) ("Trican") is pleased to announce that it has closed
the previously announced acquisition of i-TEC Well Solutions
("i-TEC"), a privately owned company based in Norway that has
developed a field-proven portfolio of completion systems and
intervention tools. 
Trican has taken a significant step into the global horizontal
multi-stage completion market with the acquisition of i-TEC. i-TEC is
a technology-focused developer of innovative next generation tools
who has built their business by providing solution based service to
their customers. The acquisition of i-TEC gives Trican a
comprehensive portfolio of field proven advanced completion and
intervention technologies which can be used in cemented as well as
open hole installations. 
i-TEC's patented i-FRAC valve system allows for valve clusters to be
placed in prolific portions of the reservoir so that customers can
optimize production regardless of whether the completion is cemented
or open hole. The i-FRAC technology maximizes the number of fracture
initiation sites with up to 400 valves in a single completion
activated by only 20 balls. Trican believes that this technology is
game changing and should convert plug and perf users to sliding
sleeves and allow Trican's customers to perform more cemented sliding
sleeve completions with confidence. In addition to i-FRAC, the
company has a number of patented intervention technologies that allow
efficient servicing of horizontal multi-stage completions to ensure
high production rates long after the initial completion. The
combination of high density fracturing technology and the suite of
intervention tools for extended reach wells will allow Trican to
provide a full package of products and services and enhance Trican's
current offering of coiled tubing intervention tools as well as
coiled tubing drilling services.  
i-TEC has operational bases including sales and R&D teams in both
Stavanger, Norway and Houston, Texas. Trican has operational bases
throughout western Canada, the United States, Russia, Kazakhstan,
Australia and North Africa. With the acquisition, i-TEC is expected
to leverage Trican's geographic reach and provide deeper sales
penetration into these markets. 
Headquartered in Calgary, Alberta, Trican has operations in Canada,
the United States, Russia, Kazakhstan, Australia and North Africa.
Trican provides a comprehensive array of specialized products,
equipment and services that are used during the exploration and
development of oil and gas reserves. 
FORWARD-LOOKING INFORMATION 
This document contains information that constitutes forward-looking
information within the meaning of applicable securities legislation.
This forward-looking information is identified by the use of terms
and phrases such as "anticipate," "achieve", "achievable," "believe,"
"estimate," "expect," "intend", "plan", "planned", and other similar
terms and phrases. This information speaks only as of the date of
this document and we do not undertake to publicly update the
forward-looking information contained in this document except in
accordance with applicable securities laws. This forward-looking
information includes: 


 
--  The belief that the i-FRAC valve system is game changing and should
    convert plug and perf users to sliding sleeves and allow Trican's
    customers to perform more cemented sliding sleeve completions with
    confidence; 
--  The expectation that the combination of high density fracturing
    technology and the suite of intervention tools for extended reach wells
    will allow Trican to provide a full package of products and services and
    will enhance Trican's current offering of coiled tubing intervention
    tools as well as coiled tubing drilling services; 
--  The expectation that the acquisition will allow i-TEC to leverage
    Trican's geographic reach and provide deeper sales penetration into
    Trican's existing markets. 

 
Forward-looking information is based on current expectations,
estimates, projections and assumptions, which we believe are
reasonable but which may prove to be incorrect and therefore such
forward-looking information should not be unduly relied upon. In
addition to other factors and assumptions which may be identified in
this document, assumptions have been made regarding, among other
things: industry activity; the general stability of the economic and
political environment; effect of market conditions on demand for the
Company's products and services; the ability to obtain qualified
staff, equipment and services in a timely and cost efficient manner;
the ability to operate its business in a safe, efficient and
effective manner; the performance and characteristics of various
business segments; the effect of current plans; the timing and costs
of capital expenditures; future oil and natural gas prices; currency,
exchange and interest rates; the regulatory framework regarding
royalties, taxes and environmental matters in the jurisdictions in
which the Company operates; and the ability of the Company to
successfully market its products and services.  
Forward-looking information is subject to a number of risks and
uncertainties, which could cause actual results to differ materially
from those anticipated. These risks and uncertainties include:
customers' completion of expected work programs; fluctuating prices
for crude oil and natural gas; changes in drilling activity; general
global economic, political and business conditions; weather
conditions; regulatory changes; the successful exploitation and
integration of technology; customer acceptance of technology; success
in obtaining issued patents; the potential development of competing
technologies by market competitors; and availability of products,
qualified personnel, manufacturing capacity and raw materials, and
Trican's successful performance under contracts. In addition, actual
results could differ materially from those anticipated in the
forward-looking information provided herein as a result of the risk
factors set forth under the section entitled "Risk Factors" in our
Annual Information Form dated March 22, 2012.
Contacts:
Trican Well Service Ltd.
Andrew Buzinsky
Director of Completions and Downhole Tool Services
(403) 266-0202
(403) 237-7716 (FAX)
abuzinsky@trican.ca 
Trican Well Service Ltd.
Gary Summach
Director of Reporting and Investor Relations
(403) 266-0202
(403) 237-7716 (FAX)
gsummach@trican.ca 
Trican Well Service Ltd.
2900, 645 - 7th Avenue S.W.
Calgary, Alberta T2P 4G8
www.trican.ca