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 2012.
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 at www.landdrill.com.
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.
For further information:
Ronald Goguen, Sr.
President and Chief Executive Officer
Landdrill International Inc.
Telephone: (506) 388-8961