Jay Wilcox Following the commencement of Operatorship transition for the PRL 15 Joint Venture, High Arctic drilled the next two Antelope wells (6 & 7) under contract to Total with Rig 115. Total expands to the number of High Arctic’s major HDPE Mat Systems and Rolling Stock customers to six.
Calgary, Canada – September 28, 2015 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) announces that Ken Olson is resigning from the position of Chief Financial Officer. Ken has agreed to remain with High Arctic until his replacement has been appointed. The Company has initiated a search for Mr. Olson’s successor and an announcement will be made in due course. High Arctic thanks Ken for his services and wishes him well in his future endeavors. 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. Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the word “will”, and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the search for a new CFO for the Company. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions inherent in forward-looking information, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. Further Information Tim Braun Chief Executive Officer Phone: 403 580 7836 Email: tim.braun@z6a.d3d.myftpupload.com
Calgary, Canada – September 21, 2015 – 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 October 14, 2015, to holders of High Arctic common shares of record at the close of business on September 30, 2015. The ex-dividend date is September 28, 2015. 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. Further Information Ken Olson Chief Financial Officer Phone: 403 508 7836 ext 103
Calgary, Canada – August 20, 2015 – 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 September 14, 2015, to holders of High Arctic common shares of record at the close of business on August 31, 2015. The ex-dividend date is August 27, 2015. 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. Further Information Ken Olson Chief Financial Officer Phone: 403 508 7836 ext 103 Email: ken.olson@z6a.d3d.myftpupload.com
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Rig 116 arrives in PNG commencing contract with InterOil after an extensive refurbishment and incorporating additional upgraded capability. Similar upgraded capability is subsequently integrated in to Rig 115 as well.
Calgary, Canada – July 22, 2015 – 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 August 14, 2015, to holders of High Arctic common shares of record at the close of business on July 31, 2015. The ex-dividend date is July 29, 2015. 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. Further Information Ken Olson Chief Financial Officer Phone: 403 508 7836 ext 103 Email: ken.olson@z6a.d3d.myftpupload.com
Calgary, Canada – June 15, 2015 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) is pleased to advise that Rig 115 has started drilling operations in the Gulf Province of Papua New Guinea (“PNG”) under the previously announced two year contract. Although the rig has been generating revenue since late March, the take-or-pay contract term commenced with the spudding of the first well on June 15, 2015. Tim Braun, High Arctic’s CEO, stated; “We are pleased to have Rig 115 operational in PNG, as this rig represents a significant increase to our service capabilities in the country. With the imminent deployment of Rig 116 from Houston, we anticipate the additional revenue generated from these rigs operating in PNG to significantly contribute to the profitability of the Company going forward.” Rig 116 has completed its refurbishment and upgrading in Houston, and is currently being prepared for shipment to Papua New Guinea. It is anticipated the rig will arrive into the country in late August, and once drilling commences it too will be operating under a previously announced two year term take-or-pay contract. Forward-Looking Statements This news release may contain forward-looking statements relating to expected future events and anticipated financial and operating results of the Company that involve risks and uncertainties. Actual results may differ materially from management expectations, as projected in such forward-looking statements, for a variety of reasons, including, but not limited to, market and general economic conditions, and the risks and uncertainties detailed in both the Company’s Management Discussion and Analysis for the year ended December 31, 2014 and the Annual Information Form for the year ended December 31, 2014 found on SEDAR (www.sedar.com). Due to the potential impact of these factors, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. 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. Further Information Ken Olson Chief Financial Officer Phone: 403 580 7836 ext 103 Email: ken.olson@z6a.d3d.myftpupload.com
The spudding in of appraisal well Triceratops #3 for InterOil marks the start of operations in PNG for Rig 115.
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