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Summit Downhole, Inc. Acquired by Peak Completion Technologies, Inc.

FOR IMMEDIATE RELEASE 09/22/2010

Peak_SummitPeak Completion Technologies, Inc., has acquired Summit Downhole Dynamics, Ltd., located in Houston Texas. Summit Downhole is a dynamic engineered product development company, servicing both operators and service companies in the oil and gas industry. Established in August 2008, Summit Downhole has been on the leading edge of completion tool development. Combining proven technologies and innovative solutions, Summit Downhole presently has 6 patents pending.

Ray Hofman, President and CEO of Peak Completions observed, "Summit's extensive Oil Field engineering experience, coupled with Peak's extensive experience in the completions disciplines will allow the new team to provide extremely reliable engineering solutions. The addition of Summit's engineering expertise to Peak's stellar in-house engineering group gives us the ability to provide simplicity through design and innovation to produce the most reliable, cost effective solutions in the market. Our goal is to simplify completions through innovation."

Peak Completion Technologies, Inc was established in December 2003, and specializes in multi-lateral completion technologies. Peak Completions offers a full range of completion designs and products for all completion techniques. Peak Completions has several locations throughout the US, Corporate Headquarters are located in Midland, Texas.

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