Coil Tubing Technology, Inc. Announces Board Changes
February 08, 2012 at 08:59 am EST
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Coil Tubing Technology, Inc. announced the appointment of John M. Callis, Richard J. Connaughton and Herbert C. Pohlmann (the company's majority shareholder) as Directors of the company to join Jerry Swinford (the Chairman of the Board of Directors and the Executive Vice President of the company) and Jason Swinford, Jerry Swinford's son (a Director and the Chief Executive Officer of the company), effective from February 1, 2012. From December 2005 to present, Mr. Callis has served as Manager of B.P. Financial, Inc., an investment management firm located in Naples, Florida. From January 1993 through December 2005, Mr. Callis was manager of sales, training and sales management for DonTech (R.H. Donnelly and SBC). Mr. Connaughton is a private investor and previously served as President of Connaughton Development Corporation, a high technology investment and development firm that he founded, until 2006. Mr. Pohlmann, the company's majority shareholder, has served as President of B.P. Financial, Inc., an investment management firm located in Naples, Florida since 1981.
Coil Tubing Technology, Inc. (CTT) is engaged in providing coiled tubing technology and tools. CTT is involved in the development and marketing of specialty tools and related technical solutions used with coil tubing and jointed pipe in the bottomhole assembly for the exploration and production of hydrocarbons. It focuses on four categories of tubing applications, which includes thru-tubing fishing, thru-tubing workover and intervention, pipeline clean out, and coil tubing lateral drill out operations. The Companyâs products include CTT Amplidyne, CTT Ampli-Max, CTT H/H Jar, CTT Jet Hammer, CTT Jet Motor, CTT Jet Nozzle, CTT Oscillator, and CTT Rotating Tool. CTT offers a turnkey tool package containing a full line of tools and thru-tubing downhole tools, backed by support services. It provides service for redress and inspection of its tool rental fleet, and sale of its tools. The Company also provides single-item tool rental.
COIL TUBING TECHNOLOGY, INC. 
