Jay Wilcox As the two companies contemplate various rig ownership structures, the term of the drilling and association support services agreements between Oil Search and High Arctic are extended, ultimately up to July 2018.
Calgary, Canada – June 29, 2016 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) is pleased to provide an update on its activities in Papua New Guinea (“PNG”). High Arctic welcomes the recent announcement of a proposed transaction to combine two of the Company’s largest customers in PNG. These customers have declared they believe the combination will create stronger support for the construction of an additional LNG project. The proposed combination will result in Rigs 115 and 116 being under contract to the combined entity, in addition to Rigs 103 and 104, which High Arctic currently operates on behalf of one of the customers. High Arctic believes there will be opportunities for synergies and efficiencies for its rigs under a common operatorship and looks forward to working with its long term customer to realize these synergies. Rig 103 is currently completing a drilling program in the Western Province, which is expected to be completed in the fourth quarter of 2016. Rig 104 is currently on standby awaiting the commencement of its next well, Muruk-1, which is expected to commence in the fourth quarter of 2016. Demobilization of Rig 115 from its last well has been completed and the rig will begin mobilization in July to drill Antelope 7. Rig 116 remains on standby in Port Moresby. High Arctic also announces that it has entered into agreements with its customer for an interim extension to its drilling and related services contracts for Rig 104 until October 31, 2016. Rig 103’s contract is also extended as part of the contract assignment to another customer to complete their drilling program in the Western Province. High Arctic continues to progress discussions with its customer towards a long-term extension of its drilling and support services contracts for Rigs 103 and 104. Mr. Braun states “These are exciting developments in Papua New Guinea and we congratulate our customers on their progress towards building a new LNG project in PNG which provides some of the lowest supply cost LNG in the world. We are proud to have been a part of the LNG development in PNG over the last nine years and are committed to continuing to provide strong safety and operational performance, which are so important in a remote location such as PNG. Our strong safety performance is exemplified by our recent receipt of the International Drilling Contractors Association Award for the best safety statistics for the Australasia onshore region in 2015.” About High Arctic High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada. For more information, please contact: Tim Braun Chief Executive Officer Phone: (587) 318-3826 Email: tim.braun@z6a.d3d.myftpupload.com Brian Peters Chief Financial Officer Phone: (587) 318-2218 Email: brian.peters@z6a.d3d.myftpupload.com
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW High Arctic Announces the Appointment of the Honourable Joe Oliver to its Board of Directors Calgary, Canada – June 20, 2016 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the appointment of the Honourable Joe Oliver, former Minister of Finance and Minister of Natural Resources for the Government of Canada, to its Board of Directors. Michael Binnion, Chairman, stated “We are very pleased with the addition of Mr. Oliver to the Board. His experience in the natural resources sector, securities regulations, and the international financial community will be beneficial to the Corporation as it explores expansion both internationally and within Canada.” Mr. Oliver was a federal Member of Parliament from May, 2011 to April, 2015 and served first as Minister of Natural Resources and then as Minister of Finance during his term in office. Previously, he was a senior investment banker with Merrill Lynch, Nesbitt Thomson and First Marathon and has served as Executive Director of the Ontario Securities Commission and as the President and CEO of the Investment Dealers Association of Canada. Recently, Mr. Oliver was appointed Distinguished Senior Fellow of the Montreal Economic Institute and Chairman of the Advisory Board at Origin Merchant Partners, an investment bank. He received a Bachelor of Arts degree and a Bachelor of Civil Law degree from McGill University and an MBA from the Harvard Business School in 1970. About High Arctic High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada. For more information, please contact: Tim Braun Chief Executive Officer Phone: 587-318-3826 Email: tim.braun@z6a.d3d.myftpupload.com Brian Peters Chief Financial Officer Phone: 587-318-2218 Email: brian.peters@z6a.d3d.myftpupload.com
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW Calgary, Canada – June 21, 2016 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.0165 per share to holders of common shares. The dividend is payable on July 14, 2016 to holders of High Arctic common shares of record at the close of business on June 30, 2016. The ex-dividend date is June 28, 2016. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. About High Arctic High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada. For more information, please contact: Tim Braun Chief Executive Officer Phone: (587) 318-3826 Email: tim.braun@haes.ca Brian Peters Chief Financial Officer Phone: (587) 318-2218 Email: brian.peters@haes.ca
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW Calgary, Canada – May 19, 2016 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.0165 per share to holders of common shares. The dividend is payable on June 14, 2016 to holders of High Arctic common shares of record at the close of business on May 31, 2016. The ex-dividend date is May 27, 2016. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. About High Arctic High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada. For more information, please contact: Tim Braun Chief Executive Officer Phone: 587-318-3826 Email: tim.braun@z6a.d3d.myftpupload.com Brian Peters Chief Financial Officer Phone: 587-318-2218 Email: brian.peters@z6a.d3d.myftpupload.com
High Arctic Reports 2016 First Quarter Results
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW Calgary, Canada – April 20, 2016 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.0165 per share to holders of common shares. The dividend is payable on May 13, 2016 to holders of High Arctic common shares of record at the close of business on April 29, 2016. The ex-dividend date is April 27, 2016. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. About High Arctic High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada. For more information, please contact: Tim Braun Chief Executive Officer Phone: (587) 318-3826 Email: tim.braun@z6a.d3d.myftpupload.com Brian Peters Chief Financial Officer Phone: (587) 318-2218 Email: brian.peters@z6a.d3d.myftpupload.com
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW Calgary, Canada – March 21, 2016 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.0165 per share to holders of common shares. The dividend is payable on April 14, 2016 to holders of High Arctic common shares of record at the close of business on March 31, 2016. The ex-dividend date is March 29, 2016. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. About High Arctic High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada. For more information, please contact: Tim Braun Chief Executive Officer Phone: 403-508-7836 ext. 105 Email: tim.braun@z6a.d3d.myftpupload.com Brian Peters Chief Financial Officer Phone: 403-508-7836 ext. 103 Email: brian.peters@z6a.d3d.myftpupload.com
Calgary, Canada – February 18, 2016 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.0165 per share to holders of common shares. The dividend is payable on March 14, 2016 to holders of High Arctic common shares of record at the close of business on February 29, 2016. The ex-dividend date is February 25, 2016. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. About High Arctic High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada. For more information, please contact: Tim Braun Chief Executive Officer Phone: (587) 318-3826 Email: tim.braun@z6a.d3d.myftpupload.com Brian Peters Chief Financial Officer Phone: (587) 318-2218 Email: brian.peters@z6a.d3d.myftpupload.com