MONCTON, NB, Feb. 20, 2012 /CNW/ - Landdrill International Inc. (TSXV: LDI) ("Landdrill" or the "Company") is pleased to announce that it has secured record drilling
commitments from mining companies in Canada and internationally for
Landdrill has entered into contracts with Canadian base metal & precious
metal mining companies for drilling totalling over 300,000 meters in
Quebec, Ontario and Labrador, requiring the usage of 18 of the
Company's Canadian-based drills, which represents an additional 100,000
meters booked than as at February 20, 2011.
The Company's Mexican operations also appear poised for record growth in
2012. Mexican contractual commitments to date for 2012 exceed 200,000
meters requiring 18 of the Company's Mexican-based drills, provided
such contracts are performed as expected.
The growth in contract meters in Canada and Mexico is attributable to
the Company's investment in additional drills, including through the
acquisition of the assets and operations of HD Drilling, s. de r.l. de
c.v. and Inflight S. de r.l. de c.v. of Mexico, during 2011.
Furthermore, the Company announces that demand in its Mongolian branches
for 2012 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 Mongolian branch over 2011.
Ron Goguen, Sr., the President and CEO of Landdrill said, "I am very pleased to announce the procurement of these commitments for
2012 to date. The contracts demonstrate the continued growth strategy
of the Company. The acquisition of drills during 2011 has permitted the
Company to increase its market share."
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. Landdrill has also modernized its drilling rigs
to provide superior results to clients. The Company now has 48 drills
with full branch operations in Canada, Mexico and Mongolia.
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:
Ronald Goguen, Sr.
President and Chief Executive Officer
Landdrill International Inc.
Telephone: (506) 388-8961
Renmark Financial Communications Inc.
John Boidman: firstname.lastname@example.org
Peter Mahzari: email@example.com
Telephone: (514) 939-3989 or (416) 644-2020