Press Release

SOURCE: Stone Arch Capital

Stone Arch Capital recapitalizes Mitchell's Oil Field Service, Inc.

Monday, August 18th, 2008

On June 25, 2008, Stone Arch Capital, LLC, a Minneapolis, Minnesota private equity fund, in conjunction with existing Management, led a recapitalization of Mitchell's Oil Field Service, Inc. ("Mitchell" or the "Company"). Mitchell is a leading oil field services provider to major and independent oil producers throughout the Willliston Basin (a 200,000 square mile reservoir covering eastern North Dakota and western Montana). Mitchell is headquartered in Sidney Montana, with facilities in Glendive, Montana, Baker, Montana, and Watford City, North Dakota. The Company employs over 150 people throughout the region.

Founded in 1977, Mitchell has established a reputation as a "first call" provider for oil field services in the Williston region. The new partnership with Stone Arch Capital provides the Company with additional capital resources to expand its geographic footprint and scope of services. Mitchell's existing management team will remain with the business and current CEO, Everett Mitchell, will continue to lead the Company.

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