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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/