Pason Systems Inc (PSYTF/PSYTF.PK) Wrap Up:

Pason Systems Inc., an oil services company, together with its subsidiaries, provides rental oilfield instrumentation that are designed and manufactured for use on land-based rigs for the oil and gas industry. The company?s products include Electronic Drilling Recorder (EDR), an instrumentation and monitoring equipment for data capture, data display, and communications at the rig site; Pit Volume Totalizer, a solution for the detection and early warning of kicks; Pason Satellite System, a high bandwidth automatic aiming satellite system; Total Gas System to measure the total hydrocarbon gases exiting the wellbore, and then calculates the lag time to show the formation depth where the gases were produced; and Automatic Driller that is used to maintain constant weight on the drill bit while a well is being drilled. Its products also comprise Electronic Choke Control System, which is used to control and remove detected gas kicks from the wellbore; Electronic Service Recorder that provides operational monitoring and administrative benefits on service rigs; and Hazardous Gas Alarm, which monitors explosive gases, such as lower explosive limit and hydrogen sulfide. In addition, the company offers a range of geological services consisting of mud logging, subsurface geological consulting, coal bed methane services, and scaleable remote geo-logging services; and WellView Field Solution, a drilling data collection and reporting system. Further, Pason Systems provides data acquisition, well site reporting software, remote communications, and Internet information management tools. It offers its services to oil and gas companies, and drilling contractors in Canada, the United States, and internationally. The company was founded in 1978 and is headquartered in Calgary, Canada with additional offices in the United States, Mexico, Argentina, and Australia.