Phoenix Technology Income Fund is an un-incorporated open-ended investment trust. Through its subsidiary entities, it provides horizontal and directional technology and drilling services to oil and natural gas producing companies in Canada and the United States. In addition, it rents various downhole drilling equipment to oil and natural gas producer companies within Canada. Phoenix manufactures its Current Loop Telemetry (CLT) electromagnetic technology that is made available for internal operational use or for lease to other horizontal and directional service providers within the industry. Its Canadian operations are conducted primarily through Phoenix Technology Services LP. The Fund’s United States operations is conducted through the its wholly owned subsidiary, Nevis Energy Services Inc.