Probe Acquires I-Wheel™ Business and Assets of SP-1 Innovation Limited

HOUSTON, TX, October 8th, 2012 – Probe Holdings, Inc., through its wholly-owned subsidiary, Sentergy Limited, has acquired certain business and assets of Aberdeen UK based SP-1 Innovation, including its I-Wheel™ technology in an undisclosed cash transaction. This oilfield technology based acquisition is part of a strategic plan to create a world-class technical engineering and manufacturing group that can supply down hole tools and systems to the global oilfield service sector. “Graeme McNay, the owner of SP-1 and inventor of the patented I-Wheel™ conveyance technology, has over the last several years successfully introduced various novel and disruptive innovations into the market, including the I-Wheel™”, says Maarten Propper, President & CEO of Probe Holdings, Inc.” This patented I-Wheel™conveyance technology complements many of Probe’s down hole data acquisition tools, an addition that enhances the total-system approach, especially with the increased number of highly deviated and horizontal wells. The I-Wheel™ technology was first brought to market in 2009, and since then, has been used in various applications around the world. The I-Wheel™ creates a low contact area that keeps the tool body of the low side of the pipe wall, allowing a gap to pass over problem areas. The cutting-edge technology is efficient, consistent and reliable in deviated wells up to 84 degrees and reduces the entire tool-string modeled friction by up to 60%. These instruments are ballistic durable with sealed bearings. Probe's Aberdeen Technical Center, under the leadership of Paul Church, is bringing this technology to market. Probe’s strategy revolves around developing fit-for-purpose technical tools and systems while providing customers with exemplary customer support. Probe’s Technical Centers are responsible for delivering technical tools and support systems and its Geo-Centers are responsible for front line customer support, training, repair & maintenance of tools as well as providing and maintaining a rental fleet of tools that is appropriate for that particular market.