EDMONTON, Alberta, June 27, 2006 (PRIMEZONE) -- Andrew Male, Vice President and Director of COSCO ESP Inc., (Pink Sheets:CCPI), ("COSCO" or the "Company"), announces that the Company has been engaged in numerous discussions with companies in the Middle East that are interested in entering into more formal business relationships with the Company. In early May COSCO executives traveled to Houston, Texas to participate in the Offshore Technology Conference, the world's foremost event for the development of oil and gas resources in the fields of drilling, exploration, production, and environmental protection.
Significant meetings were held at this event that set the groundwork for the signing of strategic partnerships in the region. COSCO is one of the few independent suppliers of downhole Electric Submersible Pumps (ESP) and related equipment that has not yet been purchased or absorbed by much larger industry players. This status, coupled with the Company's higher profile since its public listing in the fall of 2005 has attracted a great deal of attention to COSCO's technologically advanced ESP equipment. As a result, the Company is in the process of evaluating the most advantageous business relationships that most genuinely reflect the Mission Statement and are in the best interests of our shareholders.
COSCO's President, Mark Dorin, is preparing to embark on a trip to the Middle East to continue the aforementioned potential partnerships and related discussions, as well as visit the customers COSCO has in the region.
COSCO ESP Inc. is a publicly traded on Pink Sheets under the symbol "CCPI", and is an established manufacturer and service provider of down-hole Electric Submersible Pump related equipment in the oil and gas industry. The Company's advanced technology oilfield pumping and monitoring equipment allows for more efficient extraction of oil from new and existing underground oil reservoirs. COSCO is active in several countries in the Middle East as well as Africa, Russia, China and Southeast Asia.
The COSCO ESP logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2346
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined within the "safe harbor" provision as contained in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results.