Cathedral Energy Services Income Trust Ltd.
Cathedral Energy Services Income Trust (CET-UN.TO) is engaged in the business of providing selected oilfield services to oil and natural gas companies in Western Canada and the Rocky Mountain region of the United States and currently provides drilling services and related equipment rentals, production testing services and wireline services. Cathedral markets its services under six brand names: Directional Plus and the Directional Company which provide horizontal and directional drilling services; CAT Downhole Tools which provides Downhole equipment including drilling jars, shock subs and high performance drilling motors on a rental basis; Tier One Oil Services which provides oil and natural gas production testing services; Advance Wireline which provides cased hole logging and perforating, complete slickline services and casing integrity inspection logging; and Xtreme wireline which provides slickline services. Its mandate is to supply “Best in Class, Best in Service” equipment and personnel to its clients.
Rod Maxwell, Managing Director of StoneBridge, currently serves as the lead Trustee of the Cathedral Energy Services Income Trust and lead Director of Cathedral Energy Services Ltd.
Cathedral commenced operations in early 1998 as a small private company, generating a modest profit in its first year of operation. In July 1999 StoneBridge invested in this leading oil and gas services company and since then we have worked closely with management on numerous strategic, growth, business and financing issues, including equity financings, restructuring of debt facilities, going public by way of a reverse takeover of Cathedral Gold Corporation, conversion to an income trust and evaluation of numerous acquisition opportunities. During the first quarter of 2006 Cathedral’s market capitalization approached $400 million.
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