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RED DEER, AB, July 17, 2013 /CNW/ - High Arctic Energy Services Inc.
(TSX: HWO) ("High Arctic" or the "Company") is pleased to announce that
it has signed contracts with a major Canadian global upstream oil & gas
company to provide equipment and services to their primary staging area
in southern forelands of Papua New Guinea ("PNG"). This staging area
provides both ship and helicopter borne logistics and materials support
to their drilling activities in the area. High Arctic will provide the
customer with an additional 1,065 Dura-Base® mats, a 160 ton crawler
crane and other specialized rolling stock along with operating
personnel. The contract is for a minimum term of one year with options
to extend further.
Kevin Doran, Vice President International Operations for High Arctic,
commented; "We currently have approximately 1,500 Dura-Base® mats under
contract to this major PNG operator and these additional new contracts
are a significant step in expanding our relationship. The contracts
for our services are an acknowledgement of our reputation as an
experienced service provider in PNG. We are pleased to see our client
base continuing to grow and expand."
With this new contract, High Arctic now has over 9,000 Dura-Base® mats
deployed with six of the largest operators in PNG. The Company has
plans to expand its PNG mat business to over 10,000 mats by the end of
2013 and is currently in discussions with the manufacturer regarding
opportunities to bring this successful business line into new
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 global provider of specialized oilfield equipment and
services for drilling, completion and work over operations. Based in
Red Deer, 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.
SOURCE: High Arctic Energy Services Inc.
For further information:
Chief Financial Officer
Phone: 403-508-7836 ext 103