Landdrill Obtains Extension of CCAA Stay Period
MONCTON, NB, Sept. 28, 2012 /CNW/ - Landdrill International Inc. (the "Company" or "Landdrill") announced today that the Court of Queen's Bench of New Brunswick which is supervising the proceedings of the Company and certain of its subsidiaries under the Companies' Creditors Arrangement Act (Canada) commenced on August 31, 2012 granted an Order on September 27, 2012 extending the stay of proceedings against Landdrill through November 2, 2012.
Landdrill operations continue during this process.
This press release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Landdrill International Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including, without limitation that all terms of the contracts will be fulfilled in their entirety, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include commodity prices, availability of personnel, materials and equipment, actual performance of equipment and processes relative to specifications and expectations, unanticipated environmental impacts and continued availability of capital and financing and general economic, market or business conditions. These risks and uncertainties are discussed in the Company's regulatory filings available at www.sedar.com.
There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances, except as required by law.
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SOURCE: LANDDRILL INTERNATIONAL INC.For further information:
Ronald J. Goguen
President and Chief Executive Officer
Landdrill International Inc.
Phone: (506) 388-8961