News Releases – Page 24 – High Arctic Energy Services

High Arctic Declares Monthly Dividend

Calgary, Canada – April 21, 2014 – 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 $0.015 per share to holders of common shares. The dividend is payable on May 14, 2014, to holders of High Arctic common shares of record at the close of business on April 30, 2014. The ex-dividend date is April 28, 2014. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.   About High Arctic The Corporation is a provider of specialized oilfield equipment and services for drilling, completion and work over operations.  Based in Alberta, High Arctic has operations throughout Western Canada and in Papua New Guinea.  The Corporation’s most recent investor presentation can be found at haes.ca.     Further Information Ken Olson Chief Financial Officer Phone: 403 508 7836 ext 103 Email: ken.olson@z6a.d3d.myftpupload.com

High Arctic Signs a 2 Year Drilling Services Contract with InterOil and Purchases Two Drilling Rigs

Calgary, Canada – April 9, 2014 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) is pleased to announce that it has signed a new Drilling Services Agreement with InterOil Corporation for one heli-portable drilling rig in Papua New Guinea (“PNG”). High Arctic has agreed to provide one drilling rig and a 100 person camp for a firm contract term of two years with an extension option available to InterOil for one additional year. The two year term commences once the rig has been mobilised and is ready to commence drilling operations. The contract is projected to deliver annualized revenue of approximately US$30 million during the drilling operations. The target spud date for the first well is November 2014. In conjunction with the award of this contract, High Arctic has agreed to purchase two heli-portable drilling rigs and associated ancillary equipment. The total commitment to purchase and deliver the two rigs with upgrades is estimated at US$52 million. The matching rigs are AC self-erecting 1500 HP triple drilling rigs designed and manufactured as heli-portable. The rigs can be broken down into 2700kg loads allowing maximum transportation versatility and flexible alternatives in helicopter selection. Constructed in 2010, the rigs feature the latest safety designs and drilling automation technology, and have each had approximately one year of use. Kevin Doran, High Arctic’s President, International, stated; “The acquisition of these two drilling rigs is a significant milestone for High Arctic and reflects our continued commitment to expanding our presence within Papua New Guinea. We are excited to be working with InterOil as they move towards commercializing their resources. The second rig should position us to take advantage of the growing activity in the country.” The rig purchase is subject to customary closing conditions and closing is expected to occur by mid-May. The rigs are currently being prepared to be shipped to PNG with an expected landing date in June. The first rig will then be commissioned and upgraded at a customer supplied yard near Port Moresby. The first rig is expected to be mobilised to the field in November at which time revenue streams will commence. The second rig will then be commissioned and is expected to be available for use in early 2015. The Company will market the second rig to both existing and potential new customers in PNG. The Company plans to acquire the rigs using existing cash on hand and available capacity on its current revolving loan facility. 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, 2013 and the Annual Information Form for the year ended December 31, 2013 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 The Company is a provider of specialized oilfield equipment and services for drilling, completion and work over operations. Based in Alberta, High Arctic has operations throughout Western Canada and in Papua New Guinea. The Company’s most recent investor presentation can be found at haes.ca. Further Information Ken Olson Chief Financial Officer Phone: 403 580 7836 ext 103 Email: ken.olson@dev.haes.ca [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_alert type=”error”]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[/fusion_alert][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

High Arctic Announces Adoption of Advance Notice By-Law

Calgary, Canada – March 27, 2014– High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved the adoption of an advance notice by-law (the “By-law”), which requires advance notice to the Corporation in circumstances where nominations of persons for election as a director of the Corporation are made by shareholders other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (Alberta) (the “ABCA”); or (ii) a shareholder proposal made pursuant to the provisions of the ABCA. Among other things, the By-law fixes a deadline by which shareholders must submit a notice of director nominations to the Corporation prior to any annual general or special meeting of shareholders where directors are to be elected and sets forth the information that a shareholder must include in the notice for it to be valid. Shareholders will be asked to confirm and ratify the By-law at the Corporation’s Annual General and Special Meeting on May 13, 2014 (the “Meeting”). A copy of the By-law has been filed and is available under the Corporation’s profile at www.sedar.com. The By-Law is effective immediately and will remain in effect until they are confirmed, confirmed as amended or rejected by shareholders at the Meeting. The Corporation believes that adopting the By-law is considered to be good corporate governance as it provides a clear and transparent process for all shareholders to follow if they intend to nominate directors and it ensures that all shareholders receive adequate notice of director nominations with sufficient information with respect to all nominees. This allows the Corporation and its shareholders to evaluate the proposed nominees’ qualifications and suitability as directors, which further allows shareholders to cast an informed vote for the election of directors. About High Arctic The Corporation is a provider of specialized oilfield equipment and services for drilling, completion and work over operations.  Based in Alberta, High Arctic has operations throughout Western Canada and in Papua New Guinea. The Corporation’s most recent investor presentation can be found at haes.ca. Further Information Ken Olson Chief Financial Officer Phone: 403 580 7836 ext 103 Email: ken.olson@dev.haes.ca [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_alert type=”error”]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[/fusion_alert][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

High Arctic Increases Monthly Dividend

Calgary, Canada – March 17, 2014 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a 20% increase in the monthly dividend amount. The new monthly amount is $0.015 per share or 18 cents per annum. The Board has declared the dividend of $0.015 per share payable on April 14, 2014 to holders of High Arctic common shares of record at the close of business on March 31, 2014. The ex-dividend date is March 27, 2014. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. Michael Binnion, Chairman of the Board of Directors, stated “The increase in the dividend rewards our shareholders for the strong financial results of 2013 and reflects our expectations for a solid 2014. The new dividend rate equates to an annual dividend amount of $9.0 million which is 25% of our reported funds provided by operations in 2013 of $35.3 million”. About High Arctic The Corporation is a provider of specialized oilfield equipment and services for drilling, completion and work over operations. Based in Alberta, High Arctic has operations throughout Western Canada and in Papua New Guinea. The Corporation’s most recent investor presentation can be found at dev.haes.ca. Further Information Ken Olson Chief Financial Officer Phone: 403 580 7836 ext 103 Email: ken.olson@dev.haes.ca [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_alert type=”error”]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[/fusion_alert][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

High Arctic Declares Monthly Dividend

Calgary, Canada – February 19, 2014 – 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 $0.0125 per share to holders of common shares. The dividend is payable on March 14, 2014, to holders of High Arctic common shares of record at the close of business on February 28, 2014. The ex-dividend date is February 26, 2014. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. About High Arctic The Corporation is a provider of specialized oilfield equipment and services for drilling, completion and work over operations.  Based in Alberta, High Arctic has operations throughout Western Canada and in Papua New Guinea.  The Corporation’s most recent investor presentation can be found at haes.ca. Further Information Ken Olson Chief Financial Officer Phone: 403 580 7836 ext 103 Email: ken.olson@z6a.d3d.myftpupload.com [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_alert type=”error”]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[/fusion_alert][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

High Arctic Announces 2014 Capital Budget

Calgary, Canada – February 7, 2014 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) is pleased to announce that its Board of Directors has approved a capital budget of $19 million for 2014 to address maintenance and incremental growth opportunities.  This budget includes growth capital expenditures of $13 million, and maintenance capital expenditures of $6 million. The $19 million includes $2.5 million of capital expenditures that were committed during fiscal 2013 but which had not yet been completed at year-end and are carried forward into 2014. The budgeted expenditures are anticipated to be funded from the 2014 operating cash flow and cash on hand. Growth spending in 2014 will include Dura-Base® matting for deployment in Papua New Guinea (“PNG”), as well as other pieces of rental equipment to support operations in PNG.  The Company is currently evaluating potential opportunities for the deployment of Dura-Base® matting solutions elsewhere in the world and has budgeted for the purchase of five hundred new mats as initial inventory. In Canada, growth spending includes one new 170K Stand-Alone Snubbing Unit.  This unit is designed for certain unique well completions tasks and helps ensure that the Company remains the snubbing market leader in the Western Canadian Sedimentary Basin. Dennis Sykora, CEO, stated “Our ongoing investments in PNG support our position as a preeminent service provider in the country, and our continuous maintenance and enhancement program in Canada ensures that we are well positioned to service the growing LNG focused activity. We continue to evaluate other growth opportunities and the conservative initial budget provides flexibility to increase our capital spending as opportunities materialize.” The Board has determined that as the Company now has more consistent cash flows, it is no longer necessary to provide early earnings estimates, and it will release its 2013 fourth quarter and full year end results in March. About High Arctic The Company is a provider of specialized oilfield equipment and services, including drilling, completion and workover related services.  Based in Alberta, High Arctic has domestic operations throughout western Canada and international operations in Papua New Guinea. The Company’s most recent investor presentation can be found at haes.ca . Further Information Ken Olson Chief Financial Officer Phone: 403 580 7836 ext 103 Email: ken.olson@dev.haes.ca [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][fusion_alert type=”error”]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[/fusion_alert][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

High Arctic Announces Addition to Board of Directors

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 Addition to Board of Directors  Calgary, Canada – January 31, 2014 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) is pleased to announce the appointment of Thomas M. Alford to its Board of Directors. Michael Binnion, Chairman, stated “We are pleased with the addition of Tom to the Board.  His breadth of experience will be beneficial to the Company as he brings skills and experience directly relevant to our business.” Mr. Alford is an independent businessman.  Most recently, he was the President and CEO of IROC Energy Services Corporation from 2001 until its acquisition by Western Energy Services Corporation on April 23, 2013.   Prior thereto, Mr. Alford was the President and CEO of Bonus Resource Services Corporation from December 1997 to October 2000.  Mr. Alford has over 34 years of experience in the oil and gas service industry, and received a Bachelor of Commerce degree from the University of Alberta in 1980.  Mr. Alford also sits on the Board of Directors of Western Energy Services Corporation.   About High Arctic The Company is a provider of specialized oilfield equipment and services, including drilling, completion and workover related services.  Based in Alberta, High Arctic has domestic operations throughout western Canada and international operations in Papua New Guinea. The Company’s most recent investor presentation can be found at haes.ca.   Further Information Ken Olson Chief Financial Officer Phone: 403-508-7836 ext 103 Email: ken.olson@z6a.d3d.myftpupload.com