Company Highlights

April 1, 2011

New Coiled Tubing Company Targets Deep Horizontal Market

Daily Oil Bulletin (Friday, April 1, 2011) - The new name in oil and gas services, STEP Energy Services, has been created to address the completion and operation needs of the deep horizontal well market.

The company has been formed by two coiled tubing experts - Bailey Epp, president and Steve Glanville, chief operating officer. Regan Davis will join the new management team at STEP Energy Services as chief executive officer. ARC Financial Corp is the capital partner for this new business.

Headquartered in Calgary, Alberta, STEP Energy Service’s initial focus will be the deployment of six specialized coiled tubing units and associated pumping and support equipment to service the ultra deep horizontal well market in Western Canada.