November 1, 2002

News Release: $18 Million Equity Financing

Trican Well Service Ltd. ('Trican') (TCW TSX) is pleased to announce that it has entered an agreement with a syndicate of underwriters, led by FirstEnergy Capital Corp. as lead underwriter and including Sprott Securities Inc. and Peters & Co. Limited, under which they have agreed to purchase for resale to the public, on a bought deal basis, 1,000,000 Common Shares of Trican at a price of $18.00 per share, resulting in gross proceeds of $18 million.

This transaction is subject to normal regulatory approvals. The Common Shares will be offered in certain provinces of Canada by way of short form prospectus. Closing is anticipated to occur on or about November 26, 2002. Proceeds from this offering will be used to expand Trican's deep fracturing and cementing capacity and for general corporate purposes.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The Common Shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

CONTACT: TEL: (403) 266-0202 Trican Well Service Ltd.

FAX: (403) 237-7716 Murray Cobbe, President and CEO or

Michael Kelly, Vice President,

Finance & Administration and CFO

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Website: www.trican.ca

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