RUNNING TOOL

A running tool particularly useful for running liners on coiled tubing is disclosed. A torque-transmitting outer sleeve is employed which initially traps the collets. The collets are engaged to the liner by relative mechanical movemen t and thereafter lock in a secured position to the liner, regardless of whether th e liner is placed in tension or compression by the running tool. Release is accomplishe d by letting down weight on the running tool, coupled with hydraulic pressure to shear a pin securing the collet mechanism. Upon such a hydraulic release with the pin sheared, the outer torque sleeve shifts downwardly to prevent relatching. Torque is transmitted through the outer torque sleeved and not through the latching collets.