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Major Drilling Announces Extension to Indonesian Contract
Major Drilling Announces Extension to Indonesian Contract.
About this update from Major Drilling Group International Inc.
[{"type":"text","content":"\n\n\n\nMONCTON, NB, May 4 /CNW/ - Major Drilling Group International Inc.\n(TSX:MDI) today announced that P.T. Pontil Indonesia, a wholly owned\nsubsidiary, has been awarded a three year extension to their existing contract\nto supply surface and underground exploration drilling at P.T. Freeport\nIndonesia's Grasberg Mine in the Province of West Papua.\n\n\nPT Pontil's existing service contract was due to expire on January 31,\n2008. This extension now takes the contract term through to January 31, 2011.\nOver the past four years there has been in excess of 120,000 meters of\ndrilling conducted each year. It is currently anticipated that this level of\ndrilling will continue.\n\n\nPT Pontil maintains their head office in Jakarta Indonesia, with a site\noffice located at the Freeport mine site. In addition to this on-site support,\nthe Indonesian operations are supported from Major Drilling's office located\nin Brisbane, Australia.\n\n\nSome of the statements contained in this press release may be\nforward-looking statements, such as estimates and statements that describe or\nare with respect to the future price of minerals and metals, the Company's\nfuture plans, objectives or goals, including words to the effect that the\nCompany or management expects a stated condition to exist or occur. Since\nforward-looking statements address future events and conditions, by their very\nnature, they involve inherent risks and uncertainties. Actual results in each\ncase could differ materially from those currently anticipated in such\nstatements by reason of factors such as, but not limited to, the factors set\nout in the discussion starting on pages 20 to 23 of the 2006 Annual Report\nentitled "General Risks and Uncertainties", as augmented by the section\nentitled "General Risks and Uncertainties" in the discussion of the Company's\nsecond and third quarter MD&A, each as filed with the Canadian Securities\nCommission (available on SEDAR at www.sedar.com). All such factors should be\nconsidered carefully when making decisions with respect to the Company. The\nCompany does not undertake to update any forward-looking statements, including\nthose statements that are incorporated by reference herein, whether written or\noral, that may be made from time to time by or on its behalf, except in\naccordance with applicable s...