National Energy Services Co. Moves in New Direction

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Renewable Energy Project Management initially consists of project management and marketing of those services to solar/thermal, bio-fuels and waste to energy project owners.


Dr. John G. Kalogeris, Chief Executive Officer of National Energy Services Co., updates the business prospects and plans since its change in leadership.

We are in exciting times for the company with expansion into new markets, the closure of certain business lines that were unprofitable, and the loosening of financial capital to finance alternative/renewable energy products and sales. We are poised to grow rapidly and therefore we have designed a new corporate structure.

The company will operate with three divisions and various subsidiaries within each division either created by us or purchased for more rapid growth. The divisions include Renewable Energy Project Management, Renewable Energy Product Sales and Green Internet Technologies Service and Training.

Renewable Energy Project Management initially consists of project management and marketing of those services to solar/thermal, bio-fuels and waste to energy project owners. Through the use of various joint ventures currently being negotiated we should be in each of the markets with signed projects before the end of May 2010. The projects being reviewed are substantial, and would provide millions in sales and profits over the next two years. These projects include bio-fuel from algae and from pyrolisis of tires, pyrolisis of municipal solid waste to energy, and combination operations of solar/thermal and animal waste pyrolisis.

The Renewable Energy Product Sales division markets to the end user products that reduce the energy cost to home and commercial building users to pennies on the dollars they previously spent and provide revenue for the company through sale of excess energy to the grid. Additional products include lighting and water systems for commercial structures, some that have been marketed by our New Jersey subsidiary.

The Green Internet Technologies Service and Training Division is designed to first assist all affiliated divisions in the marketing of their products and services, and will expand into green social networking products and services and training for new technology development and certification initially in the virtualization and cloud computing markets.

Our current associates, expected to be joint venture partners and other consultants are developing the corporate infrastructure, negotiating for existing business acquisitions, developing the projects for growth, and identifying methods and sources of funding that are not currently funded by project owners.

Our first IT project is the development of our customer and shareholder awareness site, our Twitter and Face Book addresses and inclusion in several green social networking sites.

We expect to announce our additional projects and business developments in early March 2010.

About National Energy Services Inc. (NEGS.OB) and its subsidiary Applied Concepts For Energy Corp is a publicly traded company located in the USA. The company current focus includes various alternative energy production models to which we provide construction management services and will be the primary operator of the sites post construction, either of the whole project or in some locations limited to the waste to energy facilities. The alternative energy methods of production include waste to energy, farming of green algae and bio-mass and bio-fuels production. The Company has contracted to provide construction management for a solar/thermal installation in Southern California where we await the owners funding for the project to commence.

Forward Looking Statement: This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company’s actual results to differ materially from those projected in such forward-looking statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.

SOURCE: National Energy Services Co.

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