Tarpon Announces Sale of its Power & Leasing Assets

Tarpon Energy Services Ltd. has closed a transaction selling its Power & Leasing assets to a multinational oilfield service company, effective September 13, 2010. The buyer has also agreed to retain the Power & Leasing staff.

Commenting on the sale, President & CEO, John Henry said: “As part of Tarpon’s current strategic plan, we concluded that the sale of the Power & Leasing business would positively impact the value of the company and help us redirect capital towards our long-term growth plans. We would like to thank all the Power & Leasing employees for their hard work and dedication over the past four years and wish them all great success going forward.”