/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/
RED DEER, AB, April 29 /CNW/ - High Arctic Energy Services Inc. (TSX:
HWO) ("High Arctic" or the "Corporation") today announced that its
lenders have agreed to extend the maturity of its term loan to May 16,
2011. High Arctic is using the extension period to negotiate the terms
of a possible new loan agreement.
This news release may contain forward-looking statements relating to
expected future events and financial and operating results of the
Corporation 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 market
and general economic conditions and the risks and uncertainties
detailed in both the Corporation's Management Discussion and Analysis
for the year ended December 31, 2010 and in the Annual Information Form
for the year ended December 31, 2010 found on SEDAR (www.sedar.com). Due to the potential impact of these factors, the Corporation
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 Corporation, through its subsidiaries, is a global provider of
specialized oilfield equipment and services, including drilling,
completion and workover operations. Based in Red Deer, Alberta, High
Arctic has domestic operations throughout Western Canada.
International operations are currently active in Papua New Guinea.
SOURCE High Arctic Energy Services Inc.
For further information:
Chief Financial Officer