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Cathedral Energy Services announces further increase in 2008 capital budget
/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/ CALGARY, Feb. 20 /CNW/ - Cathedral Energy...
About this update from Act Energy Technologies Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/\n\n\nCALGARY, Feb. 20 /CNW/ - Cathedral Energy Services Income Trust\n(TSX: CET.UN; the "Trust") is pleased to announce the board of directors of\nthe Trust's Administrator, Cathedral Energy Services Ltd., have approved an\nadditional $3.7 million to the Trust's 2008 capital budget program which will\nbring the updated 2008 capital budget to $12.3 million. The current addition\nto the capital budget is to add 5 production testing units which will be\ndeployed in the Rocky Mountain region of the U.S. This will be the Trust's\nfirst deployment of production testing units into the U.S. market and\npotential exists to add to the U.S. fleet, subject to market demand. Delivery\nof these units is expected to start in June 2008 and the final 3 units are\nexpected to be received in August 2008.\n\n\n-------------------------------------------------------------------------\n\n\nCertain statements in this news release including (i) statements that may\ncontain words such as "anticipate", "could", "expect", "seek", "may" "intend",\n"will", "believe", "should", "project", "forecast", "plan" and similar\nexpressions, including the negatives thereof, (ii) statements that are based\non current expectations and estimates about the markets in which the\nTrust/Cathedral operates and (iii) statements of belief, intentions and\nexpectations about developments, results and events that will or may occur in\nthe future, constitute "forward-looking statements" and are based on certain\nassumptions and analysis made by the Trust/Cathedral. Forward-looking\nstatements in this news release include, but are not limited to, statements\nwith respect to future capital expenditures, including the amount, nature and\ntiming thereof; oil and natural gas prices and demand; other development\ntrends within the oil and natural gas industry; business strategy; expansion\nand growth of the Trust's/Cathedral's business and operations and other such\nmatters. Such forward-looking statements are subject to important risks and\nuncertainties, which are difficult to predict and that may affect the\nTrust's/Cathedral's operations, including, but are not limited to: the impa...