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.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: LANDDRILL INTERNATIONAL INC.
For further information:
Ronald J. Goguen
President and Chief Executive Officer
Landdrill International Inc.
Phone: (506) 388-8961