Attention Business/Financial Editors and Reporters:

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Aeroquest International Limited ("Aeroquest") (TSX VENTURE:AQL) announces that
it has completed the issuance of 6,666,667 common shares at a price of $3.00 per
share, for gross proceeds to Aeroquest of $20.0 million pursuant to its
previously announced public offering in Canada. The net proceeds from the
offering will be used to repay notes issued in connection with Aeroquest's
previously completed acquisition of UTS Geophysics and Geophex, Ltd., for
certain capital expenditures, for general working capital purposes and to fund
future growth opportunities.


The offering was conducted by a syndicate of underwriters led by Jennings
Capital Inc. and including J.F. Mackie & Company Ltd. and National Bank
Financial Inc. (collectively, the "Underwriters"). Aeroquest has granted the
Underwriters an over-allotment option to purchase up to an additional 1,000,000
common shares to cover over-allotments, if any, and for market stabilization
purposes, for additional gross proceeds of up to $3.0 million. The
over-allotment option is exercisable in whole or in part for a period of 30 days
following closing of the offering.


About Aeroquest

Aeroquest is a global information and technology services company and a leader
in the development and operation of innovative and proprietary geophysical
surveying platforms for the mineral and petroleum exploration, and environmental
services industries. Directly, and through its sister companies UTS Geophysics
and Geophex, Aeroquest fields a fleet of over two dozen helicopter and fixed
wing systems and is active across the world. More information about Aeroquest
can be found at www.aeroquest.ca. More information on UTS Geophysics can be
found at www.uts.com.au. More information on Geophex can be found at
www.geophex.com.


For Investors

This news release may include statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. Aeroquest cautions that actual performance will be affected by a
number of factors, many of which are beyond its control. Future events and
results may vary substantially from what Aeroquest currently foresees.
Discussion of the various factors that may affect future results is contained in
Aeroquest's recent filings, available on SEDAR.


The securities being offered have not been, nor will they be registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold within the United States or to, or for the account or benefit of, U.S.
persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.
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