Trendon Bit Service Ltd., a subsidiary of Strategic Group, announces acquisition

Trendon Bit Service Ltd. acquires the oilfield drilling assets of X-Treme Bits & Downhole Tooling Ltd.

CALGARY, Dec. 1, 2011 /CNW/ - Trendon Bit Service Ltd., a leading oilfield services company specializing in the rental and sales of tri-cone, core, and PDC oilfield drilling bits, announced today that it has acquired the assets of X-Treme Bits & Downhole Tooling Ltd., a subsidiary of X-Treme Energy Group Inc.

The acquisition combines Trendon's significant drilling expertise and comprehensive fleet of tri-cone, core, and PDC bits with X-Treme's client base and substantial drilling assets, including the sought after X-Bits™ line of products, allowing Trendon to expand its service, product and geographic reach. The combined operations will provide a more robust product and service offering to both X-Treme and Trendon clients complemented by the experience, customer service and quality supply that Trendon is known for in the marketplace.

"X-Treme has a history of developing and manufacturing quality drill bits that outperform the increasingly complex demands of vertical and directional drilling applications in North America," said Ken Kingsmith, president of Trendon. "Our product offerings and industry experience will provide an improved customer experience and we welcome all of X-Treme's valued clients to the Trendon family."

"Trendon is widely recognized for its expertise in oilfield services, specifically with respect to the drilling challenges faced by North American resource companies," said Len Zimmer, vice president of X-Treme. "We have the utmost confidence in Trendon's abilities to further develop our existing client relationships and provide innovative drilling solutions to new and existing clients."

Upon closing of the acquisition, the acquired business will operate under the name of Trendon Bit Service Ltd. and its headquarters will be at Trendon's head office in Calgary, Alberta. Trendon will maintain X-Treme's distribution network based in Red Deer and the X-Bits™ product line will be introduced into Trendon's existing distribution network in northeast British Columbia, northwest Alberta, Grand Prairie, Lloydminster, Red Deer, Medicine Hat, southeast Saskatchewan, southwest Manitoba, and the northern United States.

About Trendon Bit Service Ltd.

Trendon Bit Service Ltd. is a leading rental and sales provider of drill bits to the North American oilfield industry. Trendon boasts a comprehensive product line of surface and main hole quality tri-cone, core, steel and matrix body polycrystalline diamond compact (PDC) bits for even the most challenging vertical and directional drilling applications. Experienced personnel combined with a solution-centric approach to client service allows Trendon to service many of the top resource companies in North America through its extensive distribution network in Western Canada and the northern United States. By Taking Service A "Bit" Further, Trendon continues to grow its client and asset base by providing drilling solutions to the North American oilfield industry.

For further information:

Ken Kingsmith
President, Trendon Bit Service Ltd.
Direct: (403)861-0033
Email: krkingsmith@trendonbitservice.com

Dave Bulloch
Director, Trendon Bit Service Ltd.
Direct: (403) 234-6169
Email: dbulloch@trendonbitservice.com

Mike Keller
Sales Manager, Trendon Bit Service Ltd.
Direct: (403) 990-1299
Email: mkeller@trendonbitservice.com