We are pleased to announce that Dinamo and Servi-Dinamo are serving as our sole exclusive authorized distributor and service provider in Venezuela effective immediately. Dinamo has a strong presence in the petroleum market and will be our distributor with Servi-Dinamo providing the necessary authorized service.

Dinamo is a fully integrated sales and service organization that is dedicated to its core values of providing high quality products and superior service with its highly trained technical staff and is fully capable of servicing Premier Energy equipment. Dinamo currently provides motors, reduction gears, variable frequency drives, portable electric generators, and services throughout the petroleum industry in Venezuela.

This agreement will enable Dinamo to serve our existing customer base within Venezuela with spare parts on existing, patented, proven, Premier Energy enhanced oil recovery steam generators as well as new steam Generators. Premier Energy Services, Inc. has more than forty-five Enhanced Oil Recovery steam generators, models PE-2025, PE-2040, and PE-2070 currently in service in Venezuela.

Through this agreement we look forward to revitalizing the existing steam generator fleet and driving the fields back to peak production.