Trinidad Energy Services Income Trust Announces New Service Rig Construction Program

Release Date: January 19, 2005
CALGARY, Jan. 19 /CNW/ – Trinidad Energy Services Income Trust (“TDG.UN”) (“Trinidad” or the “Trust”) is pleased to announce the construction of four new service rigs capable of servicing wells up to 3,500 metres. The rigs will be designed and built to provide cost effective well servicing operations for Trinidad’s clients. The new rigs are being built to satisfy the demand for incremental services from Trinidad’s customer base. The new rigs will add to the capabilities of the well servicing division and expand the geographical focus into northern Alberta and British Columbia. It is anticipated that the construction of all 4 rigs will be completed by the end of 2005. The new rigs will be financed from internal cash flow and use of the Trust’s existing debt facilities.

Trinidad is a growth oriented income trust that trades on the TSX under the symbol TDG.UN. Trinidad’s divisions operate in the drilling and well servicing sectors of the Canadian oil and gas industry. The Trust has a total of 52 drilling rigs with depth ratings ranging from 1,000 to 5,500 metres and 87% of its fleet less than 5 years old. In addition to its drilling rigs, Trinidad will have 12 service rigs that are either new or have been completely retrofitted. Trinidad is focused on providing modern, reliable, expertly designed equipment operated by well trained and experienced personnel. Trinidad’s drilling fleet is one of the most adaptable and competitive in the industry.

The Toronto Stock Exchange has neither approved nor disapproved
the information contained herein.

/For further information: please contact Michael Heier, Chairman or Brent Conway, Chief Financial Officer at (403) 265-6525, Fax: (403) 265-4168, E-mail: twood(at)trinidaddrilling.com/

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