MONCTON, NB, Dec. 21 /CNW/ - Landdrill International Inc. (TSX.V:LDI) reports that it has signed contracts with Canadian base metal &
precious metal mining companies for drilling to be performed in 2011.
The contracts total over 216,000 meters of drilling in Quebec, Ontario
and Labrador, and will utilize 15 of the Company's Canadian-based
Assuming these contracts are completed to their terms, the Company
expects that they will generate over $20,000,000 in revenue for 2011.
Furthermore, the Company announces that demand in its Mexican and
Mongolian branches for 2011 remains high and it anticipates further
commitments to be secured in the near future. We anticipate that these
commitments will represent an increase in revenues from our foreign
branches over 2010.
Ron Goguen Sr., the President and CEO of Landdrill said, "I am very pleased to announce the signing of these contracts as they
represent the first time that Landdrill has secured such a large number
of meters prior to the start of the New Year. Our revenues in 2010
represented a significant increase over those of 2009 and we anticipate
that our 2011 contract revenues will exceed those of 2010."
For a review of the Company's results, copies of Landdrill's financial
statements along with the management discussion and analysis (MD&A) can
be found on SEDAR (www.sedar.com).
Landdrill is a growth oriented international drilling company with a
focus on the metals and minerals industry. The Company continues to
explore opportunities for growth in key markets, either through
establishment of new branch offices or through acquisitions as
opportunities arise. The Company now has 35 drills with full branch
operations in Canada, Mexico, Mongolia and Russia.
Landdrill is a forward looking company that has drilled all over the
world. Our people have drilled at altitudes over 15,000 feet and in
temperatures ranging from -50 degrees Celsius to +50 degrees Celsius.
We view all our customers as partners in every venture because we know
that their success ensures our future!
We offer customized drilling programs to meet your every need and we
always look forward to our next challenge.
For detailed information on Landdrill International Inc., or to request
a bid submission for your project worldwide, please visit our website
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: For further information:
President and Chief Executive Officer
Landdrill International Inc.
(506) 388 - 8961
Renmark Financial Communications Inc.
John Boidman: email@example.com
Peter Mahzari: firstname.lastname@example.org
Tel.: (514) 939-3989 or (416) 644-2020