HOUSTON, June 4, 2008 (PRIME NEWSWIRE) -- Stallion Oilfield Services Ltd. announced today that it has entered into a letter of intent with the international risk management and loss prevention business of The Stirling Group headquartered in Malta. Stirling, owned and managed by Mike Lord, is a provider of risk and facilities management solutions to the hydrocarbon industry in Africa and the Middle East.
Craig Johnson, Stallion's CEO, commented, "We are excited to take this next step in furthering our international goals. Our marine offshore marketing office in The Netherlands and now this strategic partnership with Stirling uniquely positions us to pursue opportunities in Africa and the Middle East related to increasing investments in the international oil and gas sector. Stirling has an excellent reputation for providing reliable risk assessment and facilities coordination services to top international firms and national oil companies in Europe, Africa and the Middle East. Stirling's services typically lead to additional follow-on services for other infrastructure services which Stallion can provide."
Mike Lord, Stirling's CEO and Founder, will remain with the Company as Senior Vice President of Stallion International. Lord commented, "This strategic combination will not only enhance Stirling's ability to deliver strategic solutions to our blue chip client list but also provide an entree for Stallion's 'Everything but the Rig'(sm) capability. With significant hydrocarbon project requirements across the globe, we are uniquely positioned in the North African area to deliver these services with Stallion's resources."
Stirling's strengths in delivery of HS&E training and remote area medical services are critical to executing international projects for oil and gas operators. Stirling has established joint venture arrangements in Algeria with The RedMed Group, in France with Risk & Co and in the United Kingdom with Ex+Med UK Ltd.
Craig Johnson further stated, "RedMed is a leading provider of turnkey energy and logistics base services in Algeria. We look forward to working to expand our partnership with RedMed to meet the growing needs of Algeria's energy industry."
The closing of the transaction is subject to customary closing conditions and approvals.
About Stallion
Stallion Oilfield Services Ltd. provides wellsite support services and production & logistics services to the oilfield with 2,700 employees in 57 locations. Our range of critical wellsite services include onshore and offshore workforce accommodations and remote camp complexes, surface rental equipment, solids control, communication services, wellsite construction, rig relocation, heavy equipment hauling, fluids handling and logistics. Stallion's Everything but the Rig(sm) product offerings are designed to improve living and working conditions, safety, and our customers' productivity at the wellsite. Stallion is headquartered in Houston, Texas and delivers products and services in the South Texas, Gulf Coast, Ark-La-Tex, Ft. Worth Basin, Permian Basin, Mid-Continent, Alaska's Prudhoe Bay and Rocky Mountain regions as well as to the global offshore industry.
Please find additional information at the Company's web site: www.stallionoilfield.com