CALGARY, ALBERTA--(Marketwire - Aug. 3, 2010) - Zedi Inc. (the "Company" or "Zedi") (TSX VENTURE:ZED) today announces that its indirect, wholly-owned subsidiary, Zedi (J & J Oilfield Division) Inc. ("J&J"), has completed the acquisition of all of the issued and outstanding shares of Skyway Technical Services Ltd. ("Skyways"), a private company based in Fort Nelson, British Columbia that provides field operations and management services to the oil and gas industry in NE British Columbia.

"The acquisition of Skyways fits solidly with Zedi's strategy for growth in the Canadian market and is a natural extension of our Field Operations line of business. Skyways enhances our overall product offering and their reputation for quality aligns well with Zedi values. The Fort Nelson location complements our existing footprint that covers Fort St. John, BC and Grande Prairie, AB and, combined with the Horn River Basin, leaves Zedi well positioned in an area that is experiencing a high level of activity," says Matthew Heffernan, President and CEO of Zedi.

"We are excited about the opportunity to combine Skyways' 30 years of experience with Zedi's technology and team to deliver a new level of production operations management. With the high level of activity in North East B.C., particularly in the Fort Nelson and Horn River region, there is no question that having local representation and access to Zedi's multitude of optimization solutions will bring immediate financial and service benefits to our customers," says Rod Rombough, President of Skyways.

With annual revenue of approximately $1.7 million and EBITDA of approximately $0.4 million, Skyways carries on the business of remote well site design, access, construction, commissioning, operations, maintenance and reclamation in Northeast British Columbia. The purchase price of $1.95 million is comprised of an upfront cash payment of $550,000 and an earn out, based on growth, during the first three years following the acquisition, which will be a maximum of $1.4 million, payable in cash and/or common shares in the capital of Zedi. 

Zedi Inc. (TSX VENTURE:ZED) specializes in the end-to-end management of oil and gas production operations. Zedi arms producers from the field to head office with accurate, timely and centralized data to help them make better business decisions. Using technology to gather highly accurate data from well sites, Zedi automatically moves it through critical work processes including web-based field data capture and production accounting systems. Zedi technology is continually evolving in the control and optimization of wells to ensure maximum production and cost reduction. Established in 1987, Zedi has enhanced the operational performance of more than 800 upstream, midstream and oilfield service customers.

Cautionary Statement Regarding Forward-Looking Information

Certain statements and information contained in this press release may constitute forward-looking information within the meaning of applicable Canadian securities legislation. Specifically, this press release contains statements regarding Zedi's expectation of earnings and EBITDA performance of Skyways. These statements are based on certain assumptions and analysis made by Zedi in light of its experience, due diligence on the acquisition transaction and its perception of historical trends, current market conditions and expected future market developments, as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to Zedi's expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from Zedi's expectations. Consequently, all of the forward-looking information and statements made in this press release are qualified by this cautionary statement and there can be no assurance that the actual results or developments anticipated by Zedi will be realized or, even if substantially realized, that they will have the expected consequences to or effects on Zedi or its business or operations. Except as may be required by law, Zedi assumes no obligation to publicly update any such forward-looking information and statements, whether as a result of new information, future events, or otherwise.