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On May 1, 2016 - Datalog Technology Inc. (Datalog) completed the sale of its Logging While Tripping and Slim Line Wireline Logging assets to Cordax Evaluation Technologies Inc. (Cordax). Datalog will continue to be a shareholder in Cordax and will remain actively engaged through representation on the board of directors of the new company. Cordax is a newly formed corporation, created by a group of investors in conjunction with Datalog. The new Cordax senior management team will include new executives, who are part of the investor group, as well as existing members of Datalog executive group.

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The new company will continue to pioneer innovative solutions in the acquisition of well logging data for its global customers using its proprietary conveyance and measurement technologies.

Datalog Technology Inc. was a worldwide provider of surface mud logging and downhole formation evaluation services headquartered in Calgary, Alberta, Canada. Datalog originally grew to become a leading manufacturer and supplier of mud logging and gas detection equipment and services operating in all major global oilfield markets. Datalog subsequently developed and commercialized the proprietary Logging While Tripping™ (LWT™) formation evaluation system with operations in Canada, US, Indonesia, Caribbean, and Australia as well as Slim Line Wireline services focused on the Canadian oil sands.

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Cordax's unique and proprietary Logging While Tripping™(LWT™) technology provides clients with an unparalleled cost effective means to capture quality formation logging data from vertical, highly deviated, and horizontal well bores. Complementing the LWT data acquisition system, the reservoir evaluation answer product ZoneGrader has been developed to allow operators to optimize their completion using the acquired logging data.

Cordax's Slim Line Wireline Logging service is ideal for small diameter core hole logging and shallow conventional formation evaluation. Employing logging equipment designed for shallow core holes rather than oversized equipment intended for deep conventional wells ensures maximum project efficiency and economics in high volume core drilling operations such as oil sands and coal mining.

"Cordax will continue to provide the lowest cost and most efficient means of collecting wireline quality formation evaluation data, while focusing additional resources on assisting clients in optimizing the producibility of their wells. The industry has already made enormous improvements in drilling and completion efficiencies. The next wave of industry trends will centre around the producibility of these efficiently drilled wells by assisting clients in developing a comprehensive analysis of well bore lithology and tailored completion and frack strategies, through the integration of multiple data streams, including drilling, mud-logging as well as critical formation evaluation data"

Maarten Propper, President & CEO of Cordax Evaluation Technologies Inc.

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