August 2014 - Acquisition of Tom Browne Drilling Services assets and $20.2 million Equity Raising

Mitchell Services Limited (ASX Code: MSV) has entered into an agreement to acquire the drilling rigs and associated assets of Tom Browne Drilling Services Pty Ltd (Tom Browne) for $9.5 million positioning the Company for continued growth as a leading provider of drilling services within Eastern Australia.

The Tom Browne assets include 29 drilling rigs and ancillary equipment, which will double the number of rigs in the Mitchell Services fleet to 58, as well as the potential assignment of an 18 month drilling contract with a Tier 1 global mining company.