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Last Trade
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Last Trade:
$0.04
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Change:
0.00 (0.00%)
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Trade Time:
Apr 24
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Market Cap:
$0.44M
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Description of Business
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We were formed as a corporation on June 29, 2009 in Nevada in order to acquire
100% of the outstanding stock of Coil Motor Tubing Corporation, a Texas
corporation. Coil Tubing Motor Corporation ("CTM") is a wholly owned subsidiary
of Premier Oil Field Services, Inc. ("Premier" or "the Company" or "we") and was
formed in June 2006 as a Texas Corporation. CTM serves the oil and gas industry
with down-hole drilling motors. These motors are used in the gas well drilling
process to drill out frac plugs and other debris in the wellbore.
CTM services independent drilling operations. Larger gas fields related to
national and multinational corporations are generally well capitalized and
typically contract with larger national drilling contractors. The smaller fields
are representative of independent or privately owned fields and therefore these
operations are more sensitive to declines in petroleum and gas prices.
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