HISTORY

Petrowest was formed in 2006 through the amalgamation of nine established energy and infrastructure services companies based in Grande Prairie, Alberta. Petrowest was formed as an attempt to create a locally focused oilfield and infrastructure service trust leveraging the advantages of being based close to oil and gas exploration activities within the northern region of the Western Canadian Sedimentary Basin. The companies which are combined under the Petrowest umbrella are providers of pre-drilling and post-completion services and in some cases also provide infrastructure development services.

Following the formation of Petrowest, two companies under the Heavy Equipment Rentals division merged into one combined entity, Nu Northern Equipment Rentals.

In May 2007, Petrowest acquired five more private companies – three construction companies, one gravel crushing company and one trucking company – and also entered into a business alliance with the Woodland Cree First Nation. These actions strengthened and expanded the Trust’s Civil, Construction and Transportation business segments and expanded the Trust’s geographical footprint further north in Alberta to the Peace River, High Level, Rainbow Lake areas of the province and in British Columbia expansions north to Fort St. John and Fort Nelson.

Each company continues operations under its own name, with thirteen companies forming four distinct divisions under the Petrowest umbrella.

Twelve of the 13 companies are Alberta owned and operated, with one based in northern BC. They have an average operating history of more than 15 years. Reputation and an established track record have allowed Petrowest to develop and maintain relationships with over 500 clients, including some of the most notable businesses in western Canada, including municipal and provincial governments.

Petrowest units began trading on the Toronto Stock Exchange on September 7, 2006.