CALGARY, Nov. 15 /CNW/ - Badger Income Fund ("Badger") today announced
that the trustees of Badger declared a cash distribution for the month of
November of $0.105 per fund unit, representing $1.26 per fund unit on an
annualized basis. Payment will be made on or about December 17, 2007 to
unitholders of record on November 30, 2007.
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 certain locations Badger has established
corporate run operations to market and deliver the service in the local area.
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: regarding this Press Release, please contact
Tor Wilson, President and CEO, Greg Kelly, CA, Vice President Finance and CFO,
2820, 715-5th Avenue SW, Calgary, Alberta T2P 2X6, Phone (403) 264-8500, Fax