Blast Energy Services Has New Trading Symbol 'BESV'
June 09 2005 - 11:27AM
PR Newswire (US)
Blast Energy Services Has New Trading Symbol 'BESV' HOUSTON, June 9
/PRNewswire-FirstCall/ -- The State of California has accepted the
amended articles of incorporation of Verdisys, Inc. (OTC:VDYS)
(BULLETIN BOARD: VDYS) changing its name to Blast Energy Services,
Inc. The NASD has assigned Blast Energy Services the new trading
symbol of BESV, effective June 10, 2005. During their annual
meeting held Monday, the shareholders of Verdisys, Inc. approved
the proposal to change the name of the company to Blast Energy
Services, Inc. The change in the name of the company became
effective on June 6, 2005, and the new ticker symbol is effective
June 10, 2005. The new CUSIP number is 093440105. Blast Energy
Services has commenced the construction of the world's first
abrasive jetting rig based upon modifications using existing coiled
tubing technology. The Company plans to name the line of rigs
"Blast Rigs". The capabilities of this new generation rig should
allow the Company to provide a reliable lateral drilling service in
most oil and gas formations and to expand their market
opportunities to a wider range of well services, including
specialty casing cutting, long reach perforating, lateral jetting
and specialty completions. Under the current schedule, Blast Energy
Services expects this rig to be completed and commercially ready
for service by late summer. After the initial rig establishes a
reliable and commercial service, the Company intends to begin
construction on two additional Blast Rigs with similar capabilities
as the market demands. About Blast Energy Services, Inc. Blast
Energy Services, Inc. is a publicly traded company based in
Houston, Texas and was previously known as Verdisys, Inc. Our
mission is to substantially improve the economics of existing oil
and gas operations through the application of our worldwide
licensed and proprietary technologies. Using specially fabricated
mobile drilling rigs we intend to operate a commercially viable
energy service business, including: lateral drilling with the
potential to penetrate though well casing and into reservoir
formations to stimulate oil and gas production; specialty casing
cutting; perforation and fracturing services. This service should
provide oil and gas producers with an attractive, lower cost
alternative to existing well stimulation or horizontal drilling
services. Additionally, we are providing satellite services to oil
and gas producers. This service allows them to monitor and control
well head, pipeline or drilling operations through low-cost
broadband data and voice services from remote operations where
conventional land based communication networks do not exist or are
too costly to install. To learn more about the Company, please
visit our website: http://www.blastenergyservices.com/ . Safe
Harbor Statement Any statements made in this news release other
than those of historical fact, about an action, event or
development, are forward looking statements. Forward looking
statements involve known and unknown risks and uncertainties, which
may cause actual results in future periods to be materially
different from any future performance that may be suggested in this
release. Such factors may include risk factors including but not
limited to: the ability to raise necessary capital to fund growth,
the introduction of new services, commercial acceptance and
viability of new services, ability to design and build new
technology on a timely and cost effective basis, fluctuations in
customer demand and commitments, pricing and competition, reliance
upon subcontractors, the ability of Blast Energy Services'
customers to pay for our services, together with such other risk
factors as may be included in the Company's filings on Form SB-2
and its periodic filings on Form 10-KSB, 10-QSB, and other current
reports. DATASOURCE: Blast Energy Services, Inc. CONTACT: John
MacDonald of Blast Energy Services, Inc., +1-281-453-2888 or
+1-713-725-9244, or Web site: http://www.blastenergyservices.com/
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