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SPRING, TX--(MARKET WIRE)-- Coil Tubing Technology, Inc. (CTBG) announces the delivery of the first group of 8 Rotating Tools to oil and gas well service companies operating in Mexico and Oklahoma. Designed for use in "fishing" applications utilizing 2" coiled tubing strings, these tools were delivered and "in the field" the week of May 1, 2006.chondroma
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In addition, CTBG has received orders for ten (10) more of these 2 7/8" Rotating Tool units, plus five (5) 2 1/8" Rotating Tools, all of which are scheduled for delivery to customers before the end of the month of May. repaves
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CTBG offers the only fully rotating tool for well fishing applications," stated Jerry Swinford, President of Coil Tubing Technology, Inc. "Other tools in the marketplace only 'index' or 'turn' in 90 degree increments without fully rotating, which is an inefficient means of latching a fish. We are delighted by the overwhelming response from customers regarding the capabilities of these tools." indochinese
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The Rotating Tool is a device that attaches to the end of a coiled tube to assist with "latching a fish," or removing production kits or undesired obstructions from the well by introducing rotation under mechanical pressure. The design and action of the tool is similar to a "Yankee screwdriver." If, for example, during normal operations, a piece of coiled tube is broken off and remains lodged in the wellbore, it can be difficult to get the new coiled tubing line past the obstruction. By introducing rotation to the "overshot," or latching mechanism at the end of the tool, obstructions can be cleared without the need to manually work the tool through the well head. shakiness
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Coil Tubing Technology was established in 1998 by an innovative founder that has over thirty years experience in the design of oil-field tools in general and fifteen years of experience in the design of proprietary tools for the coiled tubing industry in particular. With more than fifteen patents either granted or pending, CTT is the leader in providing new technology to the coiled tubing industry. CTT has become a one stop rental tool company supplying a full line of standard as well as propietary coiled tubing downhole tools. pluralist
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COILED TUBING DRILLING TOOLS  plunking
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The Jet Motor maximizes torque and RPM combinations. This motor has the capability to establish bit hydraulics. The long life bearing package allows the tool to stay in the hole longer than average. It can be jarred without damaging the tool which is ideal for drilling through shale. The Jet Motor has been used successfully with MWD and steering tools in drilling applications. The nitrogen power source permits underbalanced drilling.  proportionateness
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The Pulsator allows the weight on the bit to be maximized without stalling the motor as the torsional and axial torque are retained within the tool. The maximum tensible strength allows high energy jarring impact while the tool prevents spike loading from migrating up into the generic tool strings.  RND_WORD
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The HeavyHitter, when used on the upstroke only, provides variable tensible overpull due to its hydraulic metered detent system. The minimum axial drag at detent release provides high velocity of the hammer mass to the anvil.   phosphates
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For more information on CTBG, please visit Yahoo Finance - CTBG  contemptibility
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INDUSTRY NEWS cenotaphic
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Oil-Rich Venezuela Looks to Tar Deposits
 Venezuela Looks to Tar Deposits to Supply Surging Global Energy Needs bribee
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JOSE, Venezuela (AP) -- Beneath the plains and winding tributaries of the Orinoco River lie what Venezuela believes is the planet's largest oil deposit -- a tar-soaked basin that could help meet spiraling global energy needs.
  It's known as the "Faja," or "belt": a strip three times the area of Kuwait potentially holding 1.2 trillion barrels of extra-heavy oil.  Jet-black, sticky and oozing like molasses, Orinoco oil was long written off as too difficult and costly to produce. Now rising oil prices make it increasingly attractive. nonregistered
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"Venezuela has the largest oil reserves in the world," Chavez declared recently, referring to the more than 300 billion barrels of oil he believes is recoverable, mostly from the Orinoco belt.  Saudi Arabia, which pumps more oil than any other nation, claims 260 billion barrels of so-called proven reserves, or roughly 25 percent of the world's conventional oil, according to the U.S. Department of Energy. painfully
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MARKET OVERVIEW downloads
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Refinery Spending May Cut Into Gas Price
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DUBAI, United Arab Emirates (AP) -- Oil companies and other investors are spending a collective 100 billion DOLLARS on new oil refineries that could alleviate the current bottleneck in refining capacity -- and eventually translate into a small cut in the price of gasoline, a top project financier said here Sunday. those
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Will Rathvon, global head of project finance for Standard Chartered Bank, said that more than 30 new or expanded refineries will come on stream over the next decade, adding at least 6.5 million barrels a day of badly needed capacity to global fuel markets. monarticular
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"Right now refining is maxed out," Rathvon said on the sidelines of a Middle East energy conference. "At this point, the shutdown of a single refinery -- even for maintenance -- can trigger an increase in gasoline prices." whoa
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Refineries in fuel-thirsty Asia are operating at a frantic 95 percent capacity, Rathvon said. In North America and Europe, refineries are also running at over 90 percent capacity, he said. disposal
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"Running that tight has put prices up," Rathvon told The Associated Press. reinfests
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The BottomLine Report is not liable for any decisions by its readers or subscribers. The information contained herein has been provided as an information service only.  The BottomLine Report purchased 270,000 shares at 0.15.  We may close our positions at any time. monoplegic
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