Press Release Source: Production Enhancement Group, Inc.

Production Enhancement Group receives Canadian patent for multifunction coiled tubing systems
Tuesday August 29, 9:15 am ET

CALGARY, Aug. 29 /CNW/ - Production Enhancement Group, Inc. (TSX: WIS - News; "PEG" or "the Company") today announced that the Canadian Intellectual Property Office (CIPO) has issued a patent for the Company's combined coiled tubing and nitrogen well intervention system. According to Philip Crawford, president and CEO of PEG, the patent is a significant development in the Company's plan to market its WISE(TM) multifunction coiled tubing technology in Canada: "The Canadian market has been an important part of our growth strategy since the company was founded. With this protection, our WISE multifunction coiled tubing units will continue to be the most efficient and cost-effective well intervention systems in Canada. Our plan is to deploy a number of WISE units in Canada through acquisition of outstanding companies that already provide well intervention or related services."

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WISE patented multifunction units utilize proprietary power-management technology to operate multiple well-intervention functions using a single power source. This approach significantly reduces the amount of surface equipment and the number of personnel required for a given intervention job. PEG holds additional U.S. patents for WISE multifunction technology and has applied for patents in petroleum producing countries throughout the world.

About Production Enhancement Group

Production Enhancement Group, a Houston-based energy services company incorporated in Alberta, Canada, trades on the TSX under the symbol WIS. PEG owns patented WISE(TM) Well Intervention multifunction coiled tubing technologies and markets a full range of well intervention services.

For further information

visit www.productionenhancement.com or contact: Chester J. Jachimiec, Executive Vice President, Finance & Acquisitions, Production Enhancement Group, Inc., (281) 282-1812, cjachimiec@productionenhancement.com
Ken Wetherell, Investor Relations, Iradesso Communications Corp., (403) 503-0144 x224, kwetherell@iradesso.com



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