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High Arctic signs a new contract in PNG
Calgary, Canada – December 20, 2013 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) is pleased to announce that it has signed a contract for the utilization of Rig 103. The contract continues the Company’s focus on developing a broad service offering in Papua New Guinea (“PNG”).
Kevin Doran, President International, commented; “We are excited to be awarded the contract to drill wells for a new customer. We continue to be recognized as a leading oil field services provider in PNG due to our in-country experience and the safe and effective delivery of services.”
The contract is expected to take approximately one year to complete on the current timeline. The equipment included in the agreement includes Rig 103, the Rig 103 leap frog rig, a 93 man main camp and a 32 man leap frog camp and High Arctic owned drilling support equipment and matting.
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, 2012 and the Annual Information Form for the year ended December 31, 2012 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 www.haes.ca.
Chief Financial Officer
Phone: 403-508-7836 ext 103