Press Release 13.06.05

Caledus the rapidly growing oil and gas service sector business is no stranger to the Grampian Awards for Business Enterprise, having won the New Business category in 2004, and has now won two awards during the 2005 ceremony held at the Ardoe House Hotel on the 9th of June.

This year Caledus picked up the best “Young Business Award” as a business trading for less than 3 years. As if this was not praise enough for the young thriving business they also picked up the prestigious “Sir Ian Wood Award for Innovation”, for their SlimWELL well construction technology for oil and gas wells.

This makes Caledus the first consecutive winner of the Grampian Awards, now in their 6th year of operation, as well as the first double category winner in one year.

At a high profile gala dinner attended by more than 400 people from the Scottish business community, Paul Howlett, Managing Director praised all the staff of Caledus for their commitment and efforts at Caledus, a start-up company of 3 people in January 2004 now more than 40 only 17 months later. After the Innovation Award win he particularly praised the high quality design engineering team, led by Engineering Manager, Mike Wardley, for their tireless efforts bringing the SlimWELL well construction technology from the ideas stage, through development and full system testing, in readiness for the imminent field trials of the first size in North America.

SlimWELL is an evolutionary well construction technique for oil and gas wells that has the potential to reduce well construction costs by more than 50%, based on a series of close -clearance flush-jointed liners, coupled with novel flow diversion, anchoring and sealing features. SlimWELL reduces costs, enhances safety, whilst at the same time reducing the impact on the environment, through producing less drill cuttings, consuming less steel casing, mud and cement during construction, reduces construction time, without compromising well integrity or intervention ability. SlimWELL can be applied to all well types, new and old, from the most complex Deepwater HPHT or ERD wells, to the most straightforward of shallow land operations. Significant interest is being shown in SlimWELL from the largest of international operating companies to the smallest of operating interest companies as they can all see the benefits of applying SlimWELL in its partial or full well form.

"The Grampian Awards for Business Enterprise 2005 are a significant achievement for our young business, especially being fortunate enough to lift two award categories on the night, having also won a single award last year. We think this event particularly rewards determination, drive, and innovation in business and we are extremely proud to be associated with it. The PR is excellent and only days after the awards we have received many messages of congratulations from customers and supplier alike." says Jim Bain, Business Development Director.