HOUSTON, TX--(MARKET WIRE)--Dec 2, 2008 -- Production Enhancement Group, Inc. ("PEG" or the "Company") (Toronto:WIS.TO - News) today announced the appointment of Mark W. DeRouen as Executive Vice President of Operations of WISE Well Intervention Services, Inc. ("WISE"), PEG's operating subsidiary. Mr. DeRouen's responsibilities will include directing and administering the operating and sales divisions of WISE (Coil Tubing, Nitrogen, Pressure Pumping and Slickline services) and assisting in the development and execution of corporate strategies and strategic objectives.

Mr. DeRouen has domestic and international oil and gas services experience spanning 25 years. Most recently, he was Founder and President of 5D Consulting, Inc. which supplied coil tubing drilling engineering, project managers and well site supervision personnel to the oil and gas industry. Prior to this, Mark was Vice President of Coil Tubing, Pumping and Stimulation for Superior Energy Services, Inc. He also spent several years with Schlumberger in African operations and managing coil tubing drilling services in the United States and the Gulf of Mexico, OSCA and ARCO.

"Mark DeRouen is a highly respected executive both domestically and internationally, with broad experience having led both U.S. and international operations. He understands sales and appreciates the complex environment we operate. Mark also brings the needed coil tubing drilling expertise PEG's clients are asking for," said Jaime B. Crawford, President of WISE.

Joseph P. Lahey, Chairman of the Board and CEO of PEG, said, "Mark is committed to our culture, our mission and our customers to be #1 in client and employee loyalty, #1 in field service quality, #1 in standard work over services and #1 in efficiency. He has built strong teams and been successful wherever he has led. This management appointment occurs at a time of strength and momentum for PEG. Our overall management team has never been stronger. We are confident that the strategy we are implementing is the right one for future success."

"I am looking forward to being part of the leadership team of PEG," DeRouen said. "PEG is well positioned in today's environment to grow its market share and returns and is more relevant in delivering the services that our clients need more than ever. Our strategy is sound and our management team is extremely capable. I am confident we will deliver value to our shareholders, increase business lines to our customers and expand our growth domestically and internationally."

About Production Enhancement Group, Inc.

Production Enhancement Group, Inc., a Houston-based energy services company incorporated in Alberta, Canada, trades on the TSX under the symbol WIS. PEG's wholly owned subsidiary, WISE® Well Intervention Services, Inc., has developed patented WISE multifunction coiled tubing technologies and markets a full range of coiled tubing, pressure pumping, nitrogen, and slickline services.

WISE® is a registered trademark of Production Enhancement Group, Inc.

Disclaimers

The TSX does not accept responsibility for the adequacy or accuracy of this release.

This release and PEG's website referenced in this release may contain forward-looking information, including expectations of future components of revenue, cash flow and earnings. By their very nature, the preparation of such forward-looking information requires the Company to make assumptions, and involves inherent risks and uncertainties, both general and specific. There is significant risk that express or implied projections contained in such forward-looking information will not materialize or will be inaccurate. A number of factors could cause actual future results, conditions, actions or event to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking information. Such differences may be caused by factors, many of which are beyond PEG's control, which include, but are not limited to, the level of operations carried on by PEG's customers, oil and gas prices, weather conditions in offshore and land markets including natural disasters, availability of capital, access to current or future financing arrangements, manufacturing cycles of new equipment, the effects of competition in the markets in which PEG operates, difficulty in continuing to develop, produce and commercialize technologically advanced services, availability of human resources and PEG's success in anticipating and managing the foregoing risks. The preceding list is not comprehensive, and as such, investors and others who rely on these statements should consider the above factors as well as the uncertainties they represent and the risk they entail. The risks outlined above should not be construed as exhaustive. Investors are cautioned not to place undue reliance on any forward-looking information. PEG undertakes no obligation to update or revise any forward-looking information.

     For further information, visit http://www.productionenhancement.com or contact:
     Douglas Parker
     Chief Financial Officer
     Production Enhancement Group, Inc.
     713-405-8503
     Email Contact