CALGARY, Feb. 15 /CNW/ - Badger Income Fund ("Badger") today announced
that the trustees of Badger declared a cash distribution for the month of
February of $0.105 per fund unit, representing $1.26 per fund unit on an
annualized basis. Payment will be made on or about March 17, 2008 to
unitholders of record on February 29, 2008.
Badger Income Fund is an open-ended trust that is North America's largest
provider of non-destructive excavating services. Badger traditionally works
for contractors and facility owners in the utility and petroleum industries.
Our key technology is the Badger Hydrovac, which is used primarily for safe
digging in congested grounds and challenging conditions. The Badger Hydrovac
uses a pressurized water stream to liquefy the soil cover, which is then
removed with a powerful vacuum system and deposited into a storage tank.
Badger manufactures its truck-mounted hydrovac units.
Badger Income Fund's business model involves the provision of excavating
services through two distinct entities: the Operating Partners (franchisees in
the United States and agents in Canada), and Badger Corporate. Badger
Corporate works with its Operating Partners to provide Hydrovac service to the
end user. In this partnership, Badger provides the expertise, the trucks, and
North American marketing and administration support. The Operating Partners
deliver the service by operating the equipment and developing their local
markets. All work is invoiced by Badger and then shared with the Operating
Partner based upon a revenue sharing formula. In limited locations Badger has
established corporate run operations to market and deliver the service in the
This press release contains forward-looking statements subject to various
risk factors and uncertainties, which may cause the actual results,
performances or achievements of Badger to be materially different from any
future results, performances or achievements expressed or implied by such
forward-looking statements. Such factors include, but are not limited to,
fluctuations in the market for oil and gas related products and services,
political and economic conditions, the demand for services provided by Badger,
industry competition and Badger's ability to attract and retain key personnel.
The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: Tor Wilson, President and CEO, 2820, 715 - 5th
Avenue SW, Calgary, Alberta, T2P 2X6; Greg Kelly, CA, Vice President Finance
and CFO, Phone (403) 264-8500, Fax (403) 228-9773