Our well intervention segment operated a fleet of 15 snubbing units as of June 30, 2006. We primarily provide snubbing services utilizing specialized high pressure snubbing equipment that allows an operator to service a well without using other more disruptive means to control the pressure in the well. Since snubbing is a difficult and critical process, the snubbing segment of the natural gas and oil services industry is limited to a relatively few operators who have the expertise and knowledge required to perform such services safely and efficiently. Our well intervention segment also includes other related oil field services, such as freezing services, hot tapping services, rental tools and fishing services. In the future, we plan to add complementary well intervention services, such as coiled tubing, nitrogen pumping and fluid pumping services.

Snubbing Services. Snubbing services use specialized hydraulic well service units that permit an operator to complete under balanced wells and repair damaged casing, production tubing and down hole production equipment in high-pressure, "live-well" environments. A snubbing unit makes it possible to remove and replace down hole equipment while maintaining pressure in the well. Customers benefit because these operations can be performed without killing the well with heavy fluids, which can damage the productive formations, and because a snubbing rig can perform many applications at a lower cost than other alternatives. Since snubbing is difficult to perform, the snubbing segment of the natural gas and oil services industry is limited to a relatively few operators who have the experience and knowledge required to perform such services safely and efficiently. Applications for snubbing units include "live-well" completions and workhouses, underground blowout control, under balanced completions, under balanced drilling and the running of tubing, casing or drill pipe into or out of the pressurized wellbore.

Freezing Services. Freezing technology provides wellhead and pipe operations with pressure control and isolation for service and maintenance. Freezing technology involves setting a bentonite gel plug by freezing it in place. Freezing is an economic, temporary and non damaging technology often used with other services, such as hot tapping. It is quickly deployed and applied for fast response, does not damage installations and does not require kill fluids. Freezing technology applications include changing or repairing damaged valves, entire wellheads and controlling pressure in tubing or pipelines.

Hot Tapping Services. Our hot tapping services are used to access a contained area that is or may be holding pressure. The procedure can be designed to release the pressure and contents, or in the case of a loaded pipeline, provide access through a valve. Hot tapping is used in a variety of applications, including coiled tubing, wellheads, valves, tubing, drill pipe and drill collars. Our experienced well service personnel can be dispatched 24 hours a day with hot tap drills and the related equipment. Our hot tap equipment can be easily transported by truck, in well service freeze units, or by third-party helicopter.

Rental Tool Services. We rent specialized equipment and tools for the drilling, completion and workover of onshore and offshore natural gas and oil wells. Natural gas and oil producers and drilling contractors often find it more economical to supplement their inventories of tools, drill pipe and other specialized equipment with rental equipment.

We offer a broad range of rental tools, including:

• pressure control equipment;
• drill string equipment;
• pipe handling equipment;
• fishing and down hole tools;
• stabilizers;
• power swivels;
• bottom-hole assemblies;
• handling tools;
• test pumps;
• tubular handling tools; and
• hydraulic torque wrenches.

Fishing Services. We provide highly skilled down hole services, including fishing, milling and cutting services, which consist of removing or otherwise eliminating "fish" or "junk" (a piece of equipment, a tool, a part of the drill string or debris) in a well that is causing an obstruction.

Coiled Tubing, Nitrogen Pumping and Fluid Pumping. We are also planning to enter complimentary well intervention product lines in 2006, including coiled tubing, nitrogen pumping and fluid pumping. Coiled tubing units compliment our snubbing units, providing an alternative conveyance system to deliver completion and workover services. The addition of nitrogen and fluid pumping services to our well intervention segment takes advantage of the synergies with our snubbing and coiled tubing units, which are used to deploy nitrogen and fluids into wells during completion and workover activities.