Ryan Energy Technologies Announcement Receives National Research Council Canada (NRC) Industrial Research Assistance Program (IRAP) Project Support.CALGARY, Alberta--(BUSINESS WIRE)--Feb. 29, 1996--RYAN ENERGY TECH(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : RYN RYN Reply with Yes or No RYN Read Your Note RYN Return Your Note ) Ryan Energy Technologies Inc. (Ryan) announces it has received approval for financial support under the National Research Council Industrial Research Assistance Program (IRAP IRAP Industrial Research Assistance Program (National Research Council, Canada) IRAP Imposta Regionale sulle Attività Produttive (Italy) IRAP Interleukin-1 Receptor Antagonist Protein ) for Ryan's Sub-surface Electromagnetic Communication (EM) project. Ryan opened its research, engineering and development lab in 1995 to bring advanced horizontal and directional drilling technologies to the Canadian and International oil and gas market. Present Measurement While Drilling Measurement while drilling (MWD) tools are used by drilling rigs to transmit information in real time from the tool, located near the drill bit, to the surface. Types of information sent Directional information (MWD) and Logging While Drilling Logging While Drilling is a technique of measuring geological formation properties in real-time while drilling an oil well. Description Logging While Drilling (LWD (LWD) techniques generally utilize mud pulse telemetry Mud Pulse Telemetry - The transmission of encoded data through a drilling rig's drilling mud system using rapid fluctuations in the pressure of a closed loop circulating system. to transfer down- hole sensor data to the surface. Ryan is expanding this capability by developing an alternate approach to data transfer... electromagnetic telemetry. This enables Ryan to transmit data to the surface at higher rates under more varied operating conditions, including under-balanced drilling. The Industrial Research Assistance Program (IRAP) of the NRC has approved support to Ryan for implementation of this and associated projects. Their support is intended to run until March 1997. Ryan Energy Technologies Inc. is an industry leader in the development and provision of horizontal and directional drilling technology and services including Measurement While Drilling (MWD), Logging While Drilling (LWD), and Down-hole Drilling Motors. This equipment is used to steer and evaluate horizontal and directional well-bores for major, intermediate, and junior oil and gas companies. Ryan's technology is necessary for drilling any horizontal or directionally deviated well, and is not available from drilling rig contractors. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Ryan Energy Technologies Inc. Derek Logan Vice-President 403/236-2157 403/236-2158 (FAX) |
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