Business
High Arctic expands customer base in PNG with new contract awards
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About this update from High Arctic Energy Services Inc
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES.  ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY\n CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/\n\n\nRED DEER, AB, July 17, 2013 /CNW/ - High Arctic Energy Services Inc.\n (TSX: HWO) (\"High Arctic\" or the \"Company\") is pleased to announce that\n it has signed contracts with a major Canadian global upstream oil & gas\n company to provide equipment and services to their primary staging area\n in southern forelands of Papua New Guinea (\"PNG\").  This staging area\n provides both ship and helicopter borne logistics and materials support\n to their drilling activities in the area. High Arctic will provide the\n customer with an additional 1,065 Dura-Base® mats, a 160 ton crawler\n crane and other specialized rolling stock along with operating\n personnel. The contract is for a minimum term of one year with options\n to extend further.\n\n\nKevin Doran, Vice President International Operations for High Arctic,\n commented; \"We currently have approximately 1,500 Dura-Base® mats under\n contract to this major PNG operator and these additional new contracts\n are a significant step in expanding our relationship.  The contracts\n for our services are an acknowledgement of our reputation as an\n experienced service provider in PNG. We are pleased to see our client\n base continuing to grow and expand.\"\n\n\nWith this new contract, High Arctic now has over 9,000 Dura-Base® mats\n deployed with six of the largest operators in PNG.  The Company has\n plans to expand its PNG mat business to over 10,000 mats by the end of\n 2013 and is currently in discussions with the manufacturer regarding\n opportunities to bring this successful business line into new\n countries.\n\n\nForward-Looking Statements\n\n\nThis news release may contain forward-looking statements relating to\n expected future events and anticipated financial and operating results\n of the Company that involve risks and uncertainties. Actual results may\n differ materially from management expectations, as projected in such\n forward-looking statements, for a variety of reasons, including, but\n not limited to, market and general economic conditions, and the risks\n and uncertainties detailed in both the Company's Management Discussion\n an...